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Changing China
Autumn Quarter
A quarterly non-political review of life and conditions in China.
Changing China is an interesting and useful quarterly. The articles which it contains have been written in the form of letters by men and women of various ranks of life who are living in the interior of China. The reader gets a picture or rather a series of pictures of life in Modern China, and at the same time a resumé of the progress made in industrial development during the past quarter.
Published By HONG KONG DAILY PRESS, LTD.
AS OTHERS ŠEE US.
The following is taken from the
* "TIMES" LITERARY SUPPLEMENT
dated 19 h October, 1933.
CHANGING CHINA. A Quarterly Non-Political Review of Life and Conditions in Modern China. Vol. 1, No. 1 April, 1933, 128 pp. Vol. L, No. 2 July, 1953, 128 pp. 7x42 Hongkong Delly Pros (53, Fleet Stroot, E.04). ̈ ̈11:"6d, n. siah. In a profatory, note the editor explains that the pur poss of this newly established quarterly is to keep s record of the progress of events in all parts of China, and, by dinominating a fuller, knowledge of the country' actual conditions and ziedu, to assist in the promotion of trade and a better understanding be- wean East and West. To this end, qualified corre spondents in ovary provizes have undertaken to supply reports, commentaries, and forecasts. The first two anmbora contain seroral articles on interesting sup joseg, the industrial development of the Kuing provinces, the spread of Communism, the condition of the native cotton industry, and the Mind of Young Obina
THE HONG KONG DAILY PRESS, LTD. 11, Ice House Street, Hong Kong.
a subscriber to "Please enter my name as
CHANGING CHINA and send me the 3rd issue (price $4.00 per annum)..
Signature.
Address.
HONG KONG DAILY PRESS TUESDAY, FEBRUARY 27, 1934.
NERVOUS SELLING
OF FRANCS
Dangers Of Rubber. Restriction Delays
(Special Air-Mall Service)
London, February 7. Yesterday's most debated, ques. tion in Bancial circles was whether Frince would ultimately be forced off gold. To this, of course, no authoritative answer was forth coming. Usually well informed bankers, however, not only doubted thenced but also the expediency.
Nevertheless the acute nervous- ness cannot be gainsaid. A flight, from the franc seemed to be th progress, and a recurrence of the selling on yesterday's scale, which emanated as much from Paris" as from other
centres, might have disturbing repercussions. The climax was reached when 80 was touched, against at the was some abate opening. There ment of the excitement at the end, as was shown in a reaction to 79 25-32.
A CURRENCY WAR?
British Equalisation Fund Discussed
Kress,
(Special Air-Mall Service)
we
CONSIGNEE NOTICES.
SERVICES CONTRACTUELS DES MESSAGERIES MARITIMES.
CONSIGNEE NOTIJE
SS. "ANDRE LEBON,"
P
ARRIVED EONG KONG OF SATURDAY, TE# SATH FEBRUARY, 1034.
London, February 6: W there be a currency war? We hope not. but the position at
From MARSEILLES, An. the monient is certainly cause for
TONSIGNEES or Cargo by the anxiety: Se we have Mr.Ne named Steamer te berebs
fat, Chamberlain's dcânite statement informed that their teda, with the that no negotiations for an Anglo-exception o Opium, Treasure and Vain American agreement are in pro-ables, are being landet and placed at that the Dutch, having taken the
On the other hand.
their risk in the Gadoras of the Hong Kong and Kowloon Wharf and Godown initiative in reopening the restric-have the suggestions from Wash-
thai such conversations Co., Ltd., Kowloon, whenes Delivery can tita negotiations in full knowledge ington
and if they of the formidable difficulties of con- could be initiated, trolling alive output in the Dutch could result in formulating some objective for the two East Indies, and having virtually common
countries, much of the uncertainty promised to devise a scheme to that
existing to-day would be dissipat- end, causot, now task is insuperable and that their.
ed, " Denise was given lightheartedly.
admit that the
DANGERS OF DELAY Against that view must be "con- sidered the prolonged delay in an- nouoeing agreement upon an effec- reason for the tire scheme. The delay, it is believed, is that certain major difficulties have yet to be overcome. These dificulties mainly concern the application of restric- tion to Dutch native producers, The, full adherence of Siam and Sarawak has not yet been secured, but it is expected that they will fall into line.
France is so abundantly provided
In other respicts, it is unders with gold reserves that a drain of "formidable magnitude could be tood, the main outlines of the faded calmly were it not that poll- scheme and the quotas to be alloted tical conditions have so deteriorat- to the participating countries have
When politics are injected been agreed upon, subject to Go linto a financial atmosphere pre-vernment sanctios. While, how- ever, the quota for the Dutch East phecy is gratuitous.
ed.
The storm which has arisen may Indies as a whole has been settled, no announcement has yet been made abate quickly, but meanwhile it is profitable to take gold from the as to the respective proportions to Bank of France with the Franc at be allocated to "native and estate 16 rubber or as to the means by which yesterday's rate of exchange.
the export of native rubber will be that there wers was suggested
Bank
regulated. of possibilities that the France miglit
conditions Vary for selling gold "to
retard the outflow of bullion.
This
as stated in another columu,
any
is strenuously denied. Such impressions that seemed reliable derided the possibility of change in the determination of the Gold French adhere to
the Standard.
ard
to
THE GOLD HUNGER
it
MINIATURE
· WIRELESS
Micro-Ray Service To France
,
Lympne, January 26.
A wireless set with an aerial less than an inch in length and a wave-
benefit of aircraft operating be- tween England and the Continent. The set is proof against inter- ference arid atmospherics; 1 is capable of maintaining telephonic and telegraphic communication at the same time; and the power it needs for transmitting is about equal to that of a rocket torch.
One curious feature of the situa.... tion was that while French inves tors were disturbed as to be the. future of the franc and were sell- ing their own currency, they were converting the proceeds of this length of about 6 is now work- movement of capital into golding across the Channel for the in London. The suggested reason the for this preference WZA
"that of confidence back
gold would be available in France. Whatever the explanation, an exceptionally heavy turnover of bullion was reported yesterday. was estimated that there was as much sold after the fixing as there was disposed of the official Bales. when £1,850,000 changed hands. Hoarders are as cager to sell their gold at 27 per oz, an others are to purchase.
Dollar discussions were almost ecliqsed by the prominence of the fmnc. The New York exchange was kept steady by buyers of gold in London and Paris, selling their dollar exchange. Despite the sew record price, of 1408 for bar gold Kafirs yielded to profit-taking, and the buoyancy was checked by the absence of fresh buyers.
RUBBER'S FRESH JUMP
The new system of communica~ on has been established between Lympne and the French aeroplane station of St. Inglevert, hear Bou- logne.. Its range in this case is only 35 miles, and its range in any clrcumstances appears to be limited to the visual range deter- mined theoretically by the curva- ture of the earth's circuit. Actual visibility has little relation to the range, because fog and rain do not affect the tiny wares. What does seem Impossible is to train them to follow the line of the earth's surface or to get themselves re- fected back from one of the lonized layers in suficient strength for reproduction in receivers on the earth.
When, in July last year, Presi- dent Roosevelt broke off the nego- tlations for a world
currency agreement he was at the begin- ning of his currency policy. To- day the position is very different. He has reached a definite stage. He is back on gold. It is true that there are still possibilities of varia tion in the gold value of the dol- lar involved in the option he has given to himself of revising the decision announced 'this week. While he insists on holding this option, international agreement on fixed currency gold values is ob- viously impossible. But the step he has taken is really an immense move along the path back to gold, and every encouragement should be given to him to go further.
Problem To Be Faced
Some indication of the American
38
attitude will become available the new $2,000,000,000 Equalisation Fund begins -- to operate. Mr.
Chamberlain was explicit in ex- plaining that our own Equalisation Fund has not been used to create an artificial value, for sterling or
obtained as the Goods are landed. Goods not closed within 7 days, in- gluding date of arrival, will be abject to Hent
All Claimsust be sent to the Under. signed before Tuesday, 8th March, 1934, or they will not be recognized.
Damaged packages must be left in the Godown for examination by the Consignees and the Company's Sor reyors, Messrs. Goddard & Douglas, at 10a.m. on Friday, the 2nd Mar, 1934.
Consignees must bava Revenue Officer in attendance when damaged dutiable goods are examined by the Company's Surveyors.
A
No Claims will be admitted after the Goods have left the Godowas.
No Fire Insurance will be effected by us in any case whatever,
R. OHL,
Hong Kong, 24th Feb., 1974.
Agent
2303
NOTICE TO CONSIGNEES
ODBAN STRAMSHIP OO., IT'L
AND
CHINA MUTUAL STEAM NAVIGATION CO., LTD,
"LAOMEDON."
FROM UNITED KINGDOM AND CONTINENTAL PORTS
VIA SINGAPORE ·
for bringing about a return to the CONSIGNEES per Co. Vessel gold standard. Its only purpose is to correct temporary fluctuations in the exchange value of sterling. It the American fund is operated are hereby notified that their Cargo with a similar singleness of pur-will pose, then all will be well.
The alternative was well put by Mr. Rupert Beckett, the chairman
be
discharged into Holt Wharf, Kowloon, where it will be at Consignees' risk and subject to Terms and Conditions of Storage at Holt's Whart. The Cargo will be of the Westminster Bank, at this week's annual meeting when, point-ready for Delivery from Godown on
and after 23rd February. ing out that recent movements showed that the world valued the dollar at more than 60 cents, he suggested that if devaluation to that level was to be made effective the American fund must be put Into, operation." He continued:-
The question Immediately arises whether the British Equa- lisation Fund will be used to counteract the effect of Ameri- can operations, Such a conflict is unlikely, unless it were proved that a 80 cent dollar was having
a detrimental influence on our export, trade. In that event'a clash of the trade Interests of the two countries might culmin-
ate in
a currency tug-of-war. This possibility, however remote, must be squarely face and guard-
Optional Cargo will not be handed here, unless Notice has been given prior to Vessel's arrival, but carried on from port to port to the final port of call to which the option extends.
All broken, chafed and damaged Gooda are to be left in the Godowna, where they will be examined on any Tuesdays and Fridays between the hours of 10.45 and Noor within the Free Storage period
No Claims will be admitted after the Goods have left the Vessel's Godown and all Goods remaining undelivered after the 1st March, will be subject to
Rent
All Claims against the Vassel must be presented to the Undersigned on or before the 15th March, or they will not be recognised.
No Fire Insurance will be effected.
BUTTERFIELD & SWIRE,
Agents
ed against, for its development 23rd February, 1994. would make confusion worse con- founded in exchange markets.
The Extential Need The need of the world to get
back to gold was emphasised by Mr. Colin F. Campbell, in presiding at the meeting of the National Provincial Bank. "Before interna! tional trade can be expected to re- cover anything like its old pro- sperity." he said, "it is essential that we should get back to some--- thing like the system under which rates of exchange were kept steady .by an international monetary standard..
Spot rubber jumped at one time yesterday to 4 31-22d per lb., the
. It was quite true, he continued, highest price for 3 years. The Their range has thus to be a
that the position of the pound price went off a shade in the late horizontal Line above the earth's doaling to 15-10d, which was surface, and if that is to be leng-sterling is to-day one of unique 6-32d, up on Saturday's closing thened the two stations must be strength and prestige, thanks to
only quotation. The
apparent set on high towers. This con- sound policy and the support of outburst of sideration does not arise here, for British taxpayers and investors, cause of the fresh
and he was convinced it will re- speculative buying was the Ditch the micro-ray, as it is called, is Prime Minister's statement in his required simply, to perform a cross- main so as long as "we are not led capacity as Colonisi Minister, that Channel service. Hitherto aero- away into commodity values or the Dutch Government may be planes passing over Lympne on aiver values, or in fact any basis able to reach, a decision on rubber their way to France have had to but that of gold." restriction in not too long a time" be reported. by telephone to Croy- The market effect seams dispro- don and thence by wireless to Bt. portionate to the cause, since the Inglevert, a station which has to tatement adds virtually nothing handle four separate wave-lengths, to what was already known. In Delay has sometimes occurred and their present mood speculators seem the aeroplane has crossed the unwilling to admit the possibility French coast unannounced and
of an adverse decision. In favour unnoticed, with cecasional "confu-
of this attitude it may be argued, sion and alarm.
(2602
|
CONSIGNEE NOTICES.
NOTICE TO CONSIGNEES
OCEAN STEAMSHIP CO., LTD.
AND CHINA MUTUAL STEAM NAVIGATION CO., LTD.
'YONSIGNEESi per Co.'■ Vannel
* DIUMED " FROM UNITED KINGDOM VIA SINGAPORE. are hereby notified that their cargo will be discharged into Holt's Wharf. Kowloon, where it will lie at Consig nees' risk and subject to terms and conditions of storage at Holt's Wharf. The Cargo will be ready for delivery from Godown on and after 26th Feb
Optional cargo will not be landed here, unless notice has been given prior to steamer's arrival but carried on from port to port to the final prot of call to which the option extends,
All broken, chafed, and damaget goods are to be left in the Godowns, where they will be examined" orany Tuesday's and Fridays between the hours of 10,13 A.M. and Noon within the free storage periud.
No claims will be admitted after the Goods have left the steamer's Godown, and all Goods remaining undelivered after the 5th Mar, will be subject to rent.
الری
All Claims against the Steamer must be presented to the undersigned on or before the 19th Mar., or they will not be recognised.
No Fire Insurance will be effected. BUTTERFIELD & SWIRE.
Agents. 26th February, 1934.
(9304
NOTICE TO CONSIGNÉES
PENINSULAR AND ORIENTAI. STEAM NAVIGATION Co.'s STIMER “BURDWAN."
ARRIVED BONG KONG or 23RD FEBRUARY, 1934,
.
FLOW ANTWERP,LONDON,GIBRAL
TAR, MARSEILLES, MALTA. PORTSAID, ADEN, COLOMBO
AND STRAITS. ·.
CONSIGNEES of Cargo by the stove-
sis hereby informed that their Goods are being landed and placed AT THE x in the Hong Kong and Kowloon Wharf and Godowa Cou pany's Godowns at Kowloon, where each Consignment will be sorted out Mark by Mark and Delivery can be obtained me the Goods are landed,
Optional Goods will be lauded hare unless Instructions have been given to the contrary Six Hours before arrival of the
Steamer.
Goods not cleared within 8-days including date of arrival will be subject to Rent.
No Fire Insurance will be affected by us in any case whatever,
Damaged Packages must be left in the Godowna for examination by the Con signees, and the Company' Surreyors. Mesare. GOODARD & Dovolas, at 10 am, on Mondays and Thursdays, within the Free Stomige period.
Consignees are specially notified that it is necessary for a Revenue Officer to be present at the examination to damaged datable cargo.
"All Claims against the Steamer must be presented to the Undersigned on or before 15th Mar, 1934, or they will not be recognized.
No Olaims will be admitted after the Goods have left the Godown, MACKINNON, MACKENZIE & Co.,
Agents. Hong Kong, 33rd Feb, 1934. 12 '98
PACIFIC ORIENTAL MONTHLY CARGO AND PASSENGER SERVICE
M.S. "SELANDIA" Sailing on or about 28th FEB.
For Los Angeles, San Francisco, etc., direct, m.s. ASIA" For MANILA,
1st Mar,
CARGO AND PASSENGERS ACCEPTED FOR
MANILA, LOS ANGELES, SAN FRANCISCO,. VANCOUVER, SEATTLE, ETO. THROUGH HILLS OF LADING ISSUED TO OVERLAND POINTS.
Excellent Passenger Accommodation.
Passenger fares Hongkong/Ban Francisco from G8136, (it class only), For Freight and Pasongs, eto, please Apply los
The East Asiatic Co., Ltd. The Chinese American Shipping Coʻ
Agente
If the world would return to freedom from restrictions to the sanctity of contracts and to hon- ouring of obligations all based on
common currency foundationOHN MANNERS &CO.LTD. then, Mr. Campbell declared, in- ternational confidence would be restored and international trade would quickly recover,
HONG SLING Office: CANTILE RAKE BUILDING (zor rzoon), 7, Qumar's Bói, UśmiRAÍ.
TELEPHONE : 24071.