Page
THE
MERCANTILE BANK
OF INDIA
CHAIRMAN'S REVIEW OF INDIAN
AND WORLD AFFAIRS
YEAR OF LEAN BANKING PROFITS
At the fortieth annual gonorai, meeting of the shareholders of the Mercantile Bank of India, held in London on March 28, Sir Thomas 5. Catto, Bt. (Deputy Chairman), said:-
ame!
HONG KONG DAILY PRESS, FRIDAY, APRIL 28, 1933.
EDUCATION FOR THE CANTON RIVER NOTES FROM N. F.
BRIDGE
PEACE
History Books should he ANTI-SUICIDE PRECAUTIONS
Revised
INTERESTING CONFERENCE LAST EVENING
(From Our Own Correspondent,)
YUNNAN
Famine and Poverty
MONEY FOR FIGHTING PLANES
Canton. --Following the tragedy (Próm Qur Own Correspondent) of a girl committing suicide by plunging into the river from this
CHAO T'ONO Fu, April 10. Members of the Hong Kong newly constructed bridge last week,
During the past month food Peace Group spent a very instru suggestions have been made to em tive and enjoyable evening at Lane, ploy a life-bast stationed under prices have been going from und Crawford's Restaurant eserday neath it, but this is found to be to, worse, the present prevailing Beggars when they had an informal conferinefficient and exponsive; so this prices being about five or six times ence, led by Rev. Father G. Byrne plan, of erecting wire nets along those of normal times. on the subject of." Education for the sides, which is probably the are coming to this city in large best one, is now under the consi- numbers from the outlying districts Peace."
doration by the Municipal Authori- where conditions are ties. This, as stated by the au serious. thorities, would keep people from plunging into the water, and also stop throwing anything into the river from the bridge with the chance of hitting a passing craft.
port of gold has not been dotri- mental; on the contrary it has been most helpful to India. Gold that has been lying idle, in some cases possibly for centuries, has been brought into
1 At use again. The year under review has been crition time, whon India's trade.
One of the most interesting almost as "difficult as the previons, and merchandise balance had fallen
"It has been a year of lean to a figure not nearly sufficient to phases of the discussion was the cover her external obligations, possibility of changing the history hanking profits and of a general
so much in the these gold shipments have main textbooks in Hong Kong Schools so contraction not volume of business transacted, as tained the strength of India's ex-ns to introduce books which show- in the money
value of business change and enable her to meet noted war as an incidence of history done. But the silver lining to the only all her current external obliga- and not as history itself, clouds has been visible in the shape tions, but also to pay off large. of substantial appreciation in the amounts of external debt and to market value of the Bank's British accumulate substantial sterling re- and Indian Government securities, serves. All of this has been to the I fear, however, that this is the great advantage of India's credit only good thing I can say about in London and in India 1032. For the world economic crisis, which in 1930 and 1931 had reached such serious dimensions as to justify the hope that it had reached its peak, continued with
out abatement,
India,
With regard to India's trade and commerce her three great comme- dities, cotton, jute and ten plased through a difficult year in 1932. Competition from Japan in cotton piece goods, in spite of a suppoж- edly prohibitive tariff, contuales to
Father Byrne's Address.
In opening the discussion Father Byrne said that those who read the Literary Supplement of the Times might have seen some months ago that a book was reviewed callo:]
The Univarsity (in a Changing World" That book had been con tributed to by various professors in the big European universities con- nected with university life.
SUICIDE OF GEN. CHEN
CHIN
EX-COMMANDER OF ANTI-RED ARMIES IN KIANGBI
(From Our Own Correspondant)
even moro
Rain is badly needed for the Spring corps, and though the weather has shown signs of change on several occasions, and distant rumblings of thunder have heep heard, raia has so far evaded us. The Miac, one of the aboriginal tribes of West China, seem specially to be hit by these hard times, and are now reduced to the consump- tion of bracken-zoots for their sustenance.
The preparation of this "food" is a wearisome pro cess, and at any one time they can only prepare sufficient for the next meal. Many, of these people are just begging their way, and while some much-needed relief, has been Canton.From & reliable source, the suicide of General Chen Chin forthcoming we are only able to Province, has been confirmed. The ing the people through these dind in Nanchang, Capital of Kiangai touch the fringe in the way of help- be reute and Bombay cotton mills, idea that while one was hoping, cause of the tragedy was probably cult days. Should any who" rend due to his dismissal by General these notes feel kindly enough dis Chiang Kai Sok following his un-posed to forward any assistance for fortunate defeat by the Reds in this relief work, such will be grate the Province, where he was Deputy fully received and acknowledged if
Anti-Red
forwarded to the Editor. commander-in-chief of Armies
volume, the editor brought out the In the general introduction of the
after the disturbance during the War years, that there must be a movement towarda harmony and sider the contributions by these first class University, men, so fni from tonding to harmony of idens, they seemed to be going the other way. The editor was rather pessi- mistic and observed that each Uni- versity seemd to be handing out
the main industry of the city, have had another poor year; some in deed have closed down. Jute also the whole that country has so far has had a trying time in the year peace that when one came to con under review and, in spite of re lured working hours and the seat- ing of a proportion of certain i looms in order to detail the out put to the reduced demand, the industry is barely holding its own indeed it is now living on reserves
The economie blizzard has been felt, and is still being feit, in fudin with great severity, although on weathered the storm better than Due to the most other countries. brilliant and cautious manner in which her resources have been handled by the Finance Member, Sir George Schuster, Indin's posi tion in the reaims of Governmental finance is a strong one. India has
built up in more prosperous times,
their own idea and were so far
BRAVE ROBBERS ! ATTACK SLEEPING MAN WITH CHOPPER
An alarming experience helel! &
•
Electric Plant en Its Way. Our electric light plant, which when we wrote a month ago had accomplished barely one half of the journey from Yunnan Fu, is still on the way, and the time of its actual arrival here is still problem-
a woll bilanced budget and her/ The continued fall in the value of from getting that common unity of trodit to-day stands on an enviable raw jute was a serious drain during funncial crisis, the like of which is mills, and only those which had Agos, that they were actually drift- early hours of Wednesday morn be a paying concern remains to be
basis in the midst of a world in a
unknown to living memory. The courage
shown by Sir George Schuster in insisting upon Zu balanced Budget, in spite of the serious economic difficulties of the
the year on the resources of many
built
up positions of strength, which at the time seemned unneces sarily conservative, and in these extraordinary times riding the storm with a degree of composure
one of itä
farmer in Sam Teng Village in the atic. Whether this will prove to ing. He was sleeping in his hut at, the time when he was roused by the flash of an electric torch. He raised immediately
an alarm, whereupon he was attacked with a chopper by two men.
country, is something for which all and paying modest dividends. Te sities and they were there to dis-shouts rushed to his assistance and
in-
idea which existed in the Middle ing away from it. Father Byrne said that obviously there was no need to stress the point with_re- gard to Russian Universities.
The education of country was very much influenced by its univer- is passing through who have the interests of India at periodical spasms of adversity. In
cuss what precisely were. the rea heart, owe him a debt of gratitude.
sons why the universities of dil the case of many gardens the mar It may be that the improvement gin of loss between cost of pro- One reason perhaps was the fact ferent countries were drifting apart. in India's credit and the resulting duction and selling price has been saving in interest and other econo
so great that it it continues for that educationists had been glorify. mies may enable Sir
George another season they will have chiting the literature following the Schuster at no distance date to feulty in obtaining the finance to period called the Renaissance as the cancel the 25 per cent. taxation go on. An important proposal of fiorescence of learning. We were surtax. And yet he gave no tea restriction is at present being of that great big literary movement. suffering to-day from the aftermath dication of rolief in his recenting considered. I fervently wish. Budget speech, and unless this be success to this scheme. But I fect." If we want unity," said the comes possible in the near future it will not accomplish its object by speaker, "we want to recast this it may become a necessity to apsimply holding back stocks from extraordinary movement called the
Renaissance." poins another Rotrenchinent Com export; it must be based upon a
In the old days, it was taught mitteo such as that which in 1993-genuine reduction is output by finer 1023, at the request of Lord Read-plucking and thereby an improved that defence was the only thing which justified; war. How far then ing's Government, was appointed quality. The holding back 01 under the Chairmanship of the late socks in an artificial process which was one to decide whether the de- Lord Inchcape to deal with a situa lends only to continually increas. fence was really a defence or simply tion arising from a series of deficiting surpluses and in the rock on encroachment upon certain rights
of others? Budgets. In India, as at Home, which all restriction schemos peristi public expenditure must inevitably The last time that there was a re- rise when no real attempt is made striction schemi in India to keep it within public income. years ago, it was successful and No business could be run on such satisfactory alike to producers and a basis without getting into the consumers, but largely, I think, Bankruptcy Court!
because the main basis of it was. Since the War the orgy, in improvement of quality and reduc- almost all countries, of unproduction of output by finer plucking. tive public expenditure, out of all proportion to public income, is one
יז
somo
Defence Only,
His concubine on hearing the
was also injured. The two intru- ders, then decumped but it is be
the victims. lieved that both men are known to
seen, but the present difficulties of the people to pass the days are very tremendous, and raise doubts in our minds.
Aeroplanes for the North, Yunnan is to send a number of
nection aeroplanes to the North, in con
with the Sino-Japanego conflict, and Chao Tong has receiv ed orders to be responsible for one. Much discussion has taken place in the Council concerning the type of machine to be seat, and in view best statesmen together to talk on disarmament. The root of the evil of the prevailing famine conditions was in the educational, work. Fr. I the question was raised as to how the people could possibly be taxed Byrne then referred to a recent for this when so many of them France and Germany hardly knew from whence their which threw a new light on history next meal was coming. and which advocated a Christian best equipped machine, with four solution to the France-German guns, it is estimated that no less problem. It was history books of than one million local nickel this kind which might be included dollars will be required. This, at in the University carriculum
current rates of exchange, is equivalent to about 820,000," Hong Kong currency.
book оп
In the discussion which followed one speaker said that history books were being revised in Scandinavia where there had been no war for the pust 120 years.
History--Local Teaching.
For the
A Military Conference, Our Military Commander, An The conditions laid down by
A local headmaster speaking on Lü Chang, left for Yunnan, Fu writers of Medieval times were the
conference military
was held. war of defence and only defence, the subject of history said that about a month ago, where a special would he just first of all, if the until recently the examiner in his From there he has been appointed War was undertaken to right dtory set a very high standard and to proceed to the Field of Military gross. injustice. Secondly there no candidate managed to get a
operations in the North, probably must be moral guilt on the part distinction in that subject with the in an advisery capacity, na, at the of those inflicting the injustice, result that the study of history, fell present time, Yunann soldiers are British Halaya.
Thirdly there must be undoubted into disfavour. The same speaker not proceeding. We can ill afford. of the root causes of our recent In British Malays the depression knowledge Fourthly here should said that he understood that the to spare such an able Commander be no other tenns of righting the new leaving certificates included in from our midst, but can feel proud troubles. Such prodigality invari-has deepened and trade is at a ably leads to financial chaos, public low ebb. It is true that, as the injustice. Fifthly there should be one group History, Geography of his appointment, and hope that moral certainly that justice will wit. and Biblical Knowledge" and the circumstances. will permit his early and private, and is the prelude to result of drastie restriction of pre
Sixthly there should be the right student could take two out of these return here. unemployment and hardships on duction, the price of tin has m the people. I lay emphasis on the proved, but, on the other band the intention of the state undertaking three subjects only. In Christian
Mr. and Mrs. Yorkston. the war to avoid what is evil, schools it was easy to see which words unproductive public ex- shipments last year amounted to
"History."
Mr. and Mrs. J. Yorkston, with penditure" because I am a believer only 47,813 tona, valued at abon Seventhly the war must be rightly subject would suffer
conducted .so.
as to cause no un he said, against 83,000 tons, in well considered productive capi- £6,500,000,
their youngest son, have recently arrived here from Kopu, in the tal expenditure as a"ecnsible means valued at £9,900,000 in 1931. Then necessary upheaval, and lastly the ed":
war should be declared by sonic Another speaker asked if history Weining Prefecture. They proceed of alleviating unemployment.
with a further decline in the aver
revised whether it immediately to Yunnan Fu, whence Whilst, as I have shown, India's age price of rubber the act, exportslocal authority exercising its natho-books were
would not tend to eliminate pat they will entrain for Haiphong and Governmental figures have been doclined from 422,000 tons, valued rity in the name of Government
nt £12,100,000; to 405,000 tond Father Byrne said that if the riotism. Father Byrne replied tha! then take boat to Hong Kong en husbanded well, her trade and com- morte have suffered severely in 1932 valued at £8,800,000. The trade League of Nations could exact these it would tend to cut out nation route for Shanghai and Chefoo nine conditions than the world aliar, which was a very different They expect to be back here in
October. through the world-wide economic statistics of Malaya again show d depression. This is shown by the excess of imports over exports, the should be on the high road to peace,thing. following comparative figures of figures being as follows: exporta and imports of merchan- dise:
हे
Exports Imports. Crores Crores 257.04 184.79.
1931. £.
1038
41
was not being encourag-
Six Fingers.
He defied the teachers who wer One Chinese member painted- present to name any history book out that the Chinese classics which which contained these nine condi- praised works of art and other Total Imports 12,843,000 43,945,000tions which have been put forward achievements of the Chinese nation, Total Exports (6,837,000 37,514,000 by some of the greatest thinkers
The financial position of the of the human race. Federated Malay States is not One of the things to look to was healthy and now import duties have the re-writing of history so as to been imposed. As each State has got points, such as those cited, im It will be seen that in 1032 the its own Customs Service and prepressed on the minds of the young they to adopt such teachings in the men into a large cave, for protec net balance of trade in merchandise ferential duties of 10 per cent, have while they were still impressionable fhot al present circumstances 1 lion, but, from this they wers
1030
1031
1932
100.48 138:09
138,29 133.34
The fighting with the brigands, have been dropped from, the carri reported in our previous. Notes, culum of many schools recently, as resulted in a distinct victory for it was thought that these teachings the Chan Tong soldiers, only
few losses being reported. Ma! were the cause of China being so backward a nation, Yet how were ing Ko, the bandit chief, led his
speedily routed, and Ma, seeing all The reply to this question was hope gone, quickly put as and to that the man with convictions must himself. In the final souffle he was be prepared to uphold them even identified by one of his hands which
prepared to make sestrice.
Smart
Frocks
NEW
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This weeks new arrivals of beautiful Linen and Printed Organdie Frocks
the
smartest
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With the above came
a smart array of Cotton Frocks from $14.50. And Voile Frocks Priced from $18.50.
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in favour of India' was only about been applied, this creutes confusion Was it not true that the vast bulk 5 crores. But the Export of Trea and places dificulties in the way of our history tended to enlist the Rure, which assumed such large of trade. A committee has been sympathy of the young to one side
and also his head, were on exhibi- dimensions in the latter part of appointed to investigate the quesor the other. They looked for ths at asperson lose He must be has six fingers Later, this hand 1931, after Britain suspended the tion of forming a Custom Union, victory and consequently war was
lewation in the city. But the,, people Gold Standard, continued through. There was he increase in the something glorious..
The discussion concluded by un breathe more freely. out 1932, and the not Export of volume and value of British cotton. The speaker went on to say that Treasure for the year reached the goods shipped to the Straits and after examining the question he interesting, speech from Rey, Dr. apho sdid the he recalled large total of Re. 74 crores The Malay States in 1932, as compared had come to the contineting that total shipments of gold from India with 1931, but Lancashire now cermin mannals, which appeared learning lustory from "n" French from September, 1931, to the end holds only the fringe, of this trade, on the surface perfectly harmless,Canadian teacher, whe was-imb of 1982, have amounted to the enor and the 10 par cent, proference in were really doing harm. Certain with the idea that the French were móns Bzure of Rs. 1113 crores, or the Federated Malay States is not books stemed to cling to the idea always right. He said that what that fighting was a basic human in-ever the curriculum, the teacher's £83,623,000. There has been some likely to be of much sani
personal views percolated to the stinct criticism in India of these large her in competition with
We would never get peace, sad students. He proposed a vote of gold, shipments and proposals have goods, which may
the speaker, by getting some of the thanks to Father Byrne, which was been made as to a duty on gold dominate all Eastern markets."
Continued at foot of next Column) heartily accorded. exporte
far, however, the ex- I (Vontinued an Lage 12.)
"
Old Lady (to policeman-on prst duty): "Please, constable, you run along to Chespitore's
Crikey! get re a catalogue!
Policeman the idea
Old Lady this advertisemen catologu
Thy, they
Director
2xz
TONG KONG