A.
12
WATSON'S
FINEST OLD
BROWN.
THE HONGKONG TELEGRAPH, FRIDAY, MARCH 3, 1916.
Lies on Both Sides:
The Chief Justice, in reviewing the statements on either aide in
a loan squabble yesterday, obser-
DAY BY DAY.
· INTEREST RATES.
The Westher. --
SORROW AND SELENCE ARE red, that the defendant waas very STRONG, AND PATENT ENDUR masatisfactory witness and was ANCE IS GODKE. —Langfellow. admittedly guilty of falsehood, but that a great deal of the plain- tiffa' evidence, "some of it entire- At the Peak Sam. Temp. 49; ly' false”, had created the strong clear. (1915, 56 clear.) est, doubts in his awn mind. Lower level Sam. Temp. 59; That wholesale and unblushing clear), (1915, 64 clear.)
BRANDY perjury is one of the curse of
E
QUALITY.
25 YEARS IN WOOD.
WINE AND SPIRIT MERCHANTS,
HONGKONG.
the East, everyone recognizes
The Dollar.
A
27
"To-morrow's ABRİTUKSETY.
To-morrow is the anniversary of the insuration of President Woodrow Wilson (1913).
Price of Rubber.
The Mails. bat in very much being done by Siberia Mail-Das" per Be the British authorities to lessen
Anini to-day. that curse, so far as their own ter-Siberian Mail Dae per 8 ritory is concerned? We are not
Sinkiang to-morroW, so simple as to believe that false swearing will ever be entirely strmped out, eren in the West and mach less in the East; but it beers to us that the courts often allow Hagrant casee of this evil to be passed over with no further setics than mere com ment. Sarely it is the duty of a British court to go a little out of S. WATSON & Co., Ltd. its way to teach the Oriental thas
he must not tell lies too palpably) Mesars, Wright ar Hornby in giving evidence. Apart from have received a telegram from any moral side of the question, if Singapore stating that at the is manifest that the ends of auction yesterday rubber was up Justics are forever being defeated $4 per pical. by this agreeable practice of
Acknowledgement. lying all round the clock. In yesterday's case it happened that
The Council General of the no great matters were at stake, Society of St. Vincent de Paul but the same amount of lying desire
to acknowledge with would still here gone on had a thanks the donation of $20.00 man's life been in question. One from an anonymous donor to the The cases of Subscription to the “Hongkong Telegraph" will cheerful result of this wholesale funds of the Society.
perjory is that, from time to time, a criminal who is obviously guilty of the charge brought The Bishop is announced is against him escapes justice by give a course of Lent Lectures on means of the carefully arranged Wednesday mornings at 10.45 falsehoods of his witnesses.
am The first on Wednesday "The One Black Spot."
next being in the Cathedral and subsequent ones in his private chapel at St. Paul's College.
Correspondents are requested to observe rule which the requires them to forward their names and addresses with communications addressed to the Editor, not necessarily for publication, but as an evidence of their bona fides.
be as follows t
NOTICE TO SUBSCRIBERS..
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"
a
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"HONGKONG TELEGRAPH.**
By Order,
The Hongkong Telegraph,
Leat Lectures,
Bishop Landex Returns.
Bankers' Theories of High Rates Discredited,
ed and interest rates will re- PUPIL, TRÄCHERS PAY- (main low here, as well an abroad.”
In discussing last week the fature of the money market, 30 international banker, who has recently inversed his ideas on the subject, rahed în a pigeon-hole on his dek and brought cut a
the
in
Education Clack Cha
with: Forgery.
DEARER BOOKS.
6!" Novel
A new scale of book prices has
*
The Wall Street correspondent letter signed by Mr. John Moody, A Chinese olerk in the employ of the Philadelphia Public Ledger which showed signs of frequent of the Education Department, reading. Calling attention first named Tes Ping-a, was charged writes: —
New York, Jan. 30.
to the das, which was December before Hz. J. R. Wood this morn Mr. James J. Hill, who was 31, 1974, he painted to the following on two conniz, with forgery. bere last week for a few days ming
It is almost universally held Sargeant Murphy that, on October It was stated by Dectective his way to Jekylldand, has never been on the aide of the great that
direct result of 31, Mr. Ralphs, the Inspector of majority of financiers who held the war and its destruction of Schools, gave the defendant a that very high interest rates are capital, we
for cheque for $40 and told him to shead of the world. As soon as the period of high interest rates cash it and pay two pupil taschera great European conflict started, the world over for many years to of Queen's College, to whom the The rate of the dollar on with very few exceptions it was come. At first blush this seeme money was dus. The only receipt demand today is 11 32.
argued that from one end of the to be a logical theory, and it is would be the pay sheets, and this world to the other the carrying being widely preached by econo was snbsequently returned and it charge for money would advance mista, students and bankers at appeared as though the men had as a result of the unprecedented the present time. But I do not had the money. A complains loen of capital. Such arguments hesitate to take isene on this had since been rostred from sho reached a climax last December question. It is trus that wealth popil teachers that they had not when figures were published to is being consumed and destroyed received the money. They denied show that the cost of the war up to-day in Europe in enormous that the signatures on the pay to that time had been $38,000,- volume, sad the longer the war shoot was theirs. 000,000. It was then pointed at the greater will be the im A remand until Tuesday next out that this huge sam was colypoverishment in Europe. Now was granted. the actual money east and did the interest rate is the price paid nat include the losses in argical-for capital, and, sa a great war ters or manufacturer or the loss absolutely destroys a vast amount which in the end would prove of ospital, it is sasumed from this the greatest, the loss of producing that the supply will run short and will therefore capacity caused by the loss of that the price
remain high indefinitely.
New Price of the life and limb.
There could only be one "But the law of denimad sed answer, money marketwise, to supply rules here as everywhere such destruction of capital, it has else. Demand for capital will nos been argued generally for the increase in Europe sfer the war, Last 18 months, and that is, higher bat will decline. I will decline come into operation in London interest rates the world over. It absolutely: far more than will the recently under which books is now being argued by some apply. For this reason interest subject to discount will be sold to that those who reached such con- rates will more likely fall to a low the public in future at 16-2/3 per clusions were thinking standing level and remain there for a long at below the published price- on their heads, that is, apside time, rather than rise or even hold instead of 25 per cent. below. In a most interesting letter from
down. It is now being pointed at the relatively high average ex- The new price of a Bs. novel a Hongkong man now serving
out that, instead of advancing isting during the scrual activities under this scale, is therefore Sa rapidly as was predicted, the while Governments. with the Royal Navy, which we
are Instead of 44. Bd... pablished yesterday, the remark
A The decision to raiza prices price of money has fallen, callson floating their big loans," occurs: "The one black spot is
The Bhop of Victoris returned loans for the whole of 1915 ang "demand for capital" means a was taken ananimously by the strikes. Those Syndicalists to the Colony to-day by the Sma- ing between 1 and 2 per cent, producer whose market has so thoroughly representative meet- who lead the men stray should kiang. Be and the Rev. HGE with time money sa low sa 3 par broadened that he can profitably ing of London booksellers, says fixed be shot," and the writer proceeds Griffith have visited Hoibor, cent
borrow money to increase his the Times. It was the result of to euggest that there is ample Pakhui and Liemchow. The
Only a few days ago there was producing capacity, or it means circalars received from many of ground for suspicion that the Bishop held confirmations and an offering of $30,600,000 4 per that a merchant finds his custom-the leading publishers intimating strike leaders are in league with confirmed fifty converts of the cent, collateral trust St. Paulers are buying so freely that he that owing to the increased cast the enery. Whether theer Church Misionary Society at bonds at 96, and the subscriptions needs to carry a larger stock of of materials (especially paper) and patriots are in German pay or Pakboi and Liemetow.
came in so fast that the isne goods, in short, it means, in of labour, the trade terms would whether they are guided by
could have been sold three times business generally, an enlarging be raised as from January 1 by Bijou Theatre. world nothing in the
várying amounts, working out on ESTE The two attractions at
A Year and a half ago demand for goods. " over. the their own vanity and grasping Bjon Theatre this week are a rol-confidently that
railroad and bankers believed Now the direct effect of war is the everage at ld, in the Is. of the svan a well not to increase demand or buying published price of a book. The ness really matters very little, licking three-part.comedy: "Max managed and prosperous railmad capacity bar rather to impoverish asal trade terms allowed the for in either case the result has has too Much Mother-in-law," and mould find it difficult to dispose of a count, to such an extent that bookseller a discount of 25 per been the same: our enemies have a very pretty French drams: bonds secured by an actual lien people everywhere boy less of cent, with a mall additional ixen materially helped by the "The Angel of the House" on railed at a better interest to everything.
"aettlement" discount for cash; failure of certain labour elements charming study in child life than 5 per cent. Some of the In consequence, producer, dealer but the terms also provided in to do their part, and a few more published by the Gaumont Con- eldest systems were then paying, and transporters all have less to most cases that the bookseller's handreds or thousands of British Lives have been lost which might
or had paid, even more. Collateral do, and because of this, none of dozen should be 13. Thus a book. easily have been spared. This,
trust bonds, however, are now bethem needs much or any new pablished at, say, 1s, was sold to of itself, is surely sufficient argu- Yesterday morning, at Grassy ing sold close to 4 per cent basis; capital. Consequently, demand the bookseller at 81 per copy, ment in favour of the shooting of Tongue, a few miles on the samething that has not occurred for capital falls fit and internet an order for a dozen at 8a, 6d. would bring 13. Sold to the According to a Peking paper, the officials in the Chinese capit all such persons. We say "all" Canton side of Tiger Island, a in many and many a long day rates rarge at low levels. al have been busying themselves of late in preparing for the but had this healthy method of Standard Oil launch-believed to and something many wine railway *War destruction and impor- public at 9d.
books would vid establishment of the electoral body which is to be known as the ending the trouble been resorted to be the Comet was seen to be presidents and bankers never ex-erishment in Europe will so 15 Citizens Convention. "Elections," we are informed, have taken in the beginning there would not aground. By a curious coincid-pected to see again in their life decrease the purchasing power gross profit to the bookseller place in all the Provinces, each of which has chosen its members have been much all about the ence, a little farther along the time. It was confidently believ of the world's population as to of 18. 3d. In fature the book- and its reserve candidates" and now the work of compiling the matter, for the nonsense would river, at the Tow Ling fats, another ed that we had gone on a 5 or 51, lower the per capita consumption seller, buying at 91. per copy and reports in connection with the proposed electoral reforms is being have been nipped in the bad. launch and a lighter, both pre- or even higher, basis permanent of goods and commodities. This selling at 10d, will make a gross taken in hand by a Bureau appointed for that purpose. What good The public execution of just one sumably the property of the 13
will fores commodity prices profit of E.; but in those cases object is likely to be served by all this labour, we bave not the or two Labour leaders would Standard Oil Company, were
Falling "A good many people are re-downward.
prices where the "odd copy" disappeaza, faictestides. When the so-called Republic was inaugurated, China's have
incrassed the profit will be only is. As the ended the
vering their views on this ques of goods difficulty aground at the same time. officials spent nó end of time in tinkering with the country's electoral immediately. As it is even where
for bond publishers have also slightly de- tion of interest,” was volunteered purchasing power system, and eventually a Constitution which would have almost men have refused to perform Two Chinese were charged in last week's talk with M. Hill. incomes, and therefore bond cressed the trade, discount on satisfied the most democratic nation in the world was evolved. But their task in the munitions before Mr. Hazeland, this morn- Leaving his rolltop desk and half-vaines will tend to rise. With books published at net prics, the that it ever really represented the aspirations of the people--if the factories, the punishment has beening, with unlawfully using as standing and hall-atting on the cheap maney it pays better to buy booksellers contend that they, on balk of them have soy national ideals an-one would seriously disgracefully light-almost in- gennine a counterfeit mark-a large oak table used by the dir-bonds than to loan money, and the whole, will lose by the revision contend. It was conceived and drawn up for "look-see" purposes, variably a fine, which the traitors label as used by the Superintendectors of Great Northern, Hr. this baying will tend to maintain of prices.
It is noteworthy that a few of That was the only use to which it was ever intended to be pat. are very easily abla to meet in eat of Imports and Exports to Hill replied as he continued to and raise bond prices.”
Certainly MMoody was cure the bookseller were in favour of these days of high wages. The denote that the prepared opium fold and reduce to small bits a A charge has come over the situation since those days. ladicrous part of the sixcation is in the pots found in their posses-memorandum that bad just sen rect in his predictions regarding keeping the retail price of the 6a. vilnas. That wholly novel at 4. 61.; but it was de Wire-yallers have been at work. Hence some-one, or that the sentences awarded in ion was Government opium. handed to him by his private bond
anexpected development incided by a large majority to make some clique, has come to the conclusion that the change will appear cases of giving a soldier drink or Both the men said that the things secretary. more real if the Constitution, previously regarded as perfect, is of "standing" drinks to a friend were left behind by their friends. "Who is going to buy our stuff this country, however, can be no exception to the general rale saddenly that the discount to the public once again thrown into the melting pot; so in it goes. It is, of cr neighbour, have usually been The case was adjourned nafil after this war is over? That is the explained by
wealth. thing to think about in solving increased
Whether should in future be 2d, instead coarse, perfectly well known that electoral reform-or any far heavier than those passed on to-morrow. other reform, for that matter interests nobody in China save men refusing to work! Is not
this interest rate problema.” Europe, surrounded by the of 3d, in the Is. There is some a few sxe-grindere who must make a show of doing something, but this in itself a proof of how hopes
Ma Hill then told of having wrecks of war, will remain with prospect of an increase of 31. in that fact does not deter the authorities from keeping up the fareslessly untrustworthy a faddist
just received a letter from a close its hands folded in its lap remains the price of some of the shilling
library series friend in England telling how the to be seen. On that point many of Constitation-making.
of reptints The whole incident. is illuminating Government, tamished with a big as showing the extent to which the Government has got eat of Radics! element can he ?
women who all their lives had do not hesitate to take issue with before long. touch with the people. Under the Republican Constitation there An "Ultimatum" to Portugal.
had everything they wanted were Mr. Hill and Mr. Moody. For in- is already in existence the most elaborate machinery for the expres= Our Portagasse readers will{
making old clothes do, or were stance, last week, when Maaara J. sion of the popular will Why, therefore, there should be any see with some amusement that
buying only the plainest and P.Morgan, E. C. Frick, EH. Gary, necessity for creating a "Citizens Convention" we cannot see. It this morning's wires chronicle an
most durable, to set an example Robert Bacon, Henry Walters, will be remembered that when the change to a Monarchy was decid-ultimatum from the
For the A.D.C. performance of as well as for personal economy.Robert Winsor and C. Con ed upon, it was announced, with a great flourish of trumpets, that Government to Lisbon in con- the above play, the curtain rises After quoting his friend in ill-verse voted to resume dividends all the Provincial Assemblies had voted in favour of the abandon- nection with Portugal's seizure at 9.30 pm sharp to-morrowing about a dinner of soup, fish, on the $508,000,000 United advise as that the Langhat output ment of the Repablic What more could have been desired? Yet of certain ships interned in her night, (orchestra at 9.20 p.m.) by no meat and a few vegetables, States Corporation common stock for the current month is se the enthronement of Yaan still looks far ahead. If the facts were porta. It is rather unfortus which time it is hoped everyone which had been attended by a at the ate of 5 per cent, those follows revealed, the value and the significance of this Provincial vote would ate for Germany thar her will be seated. For the conveni-number of people prominent in men abored, that they believed be reduced to nothingness: the "elections" were, of course, nothing day of threats and bluff is past, enes of Peak residents, a special London's social and political life; that the existing prosperity in this but a hollow farce. And so the process continaes in a vicious circle. and that to day no nation, tram will leave the Pask at 910 M. Hill continued:
country is sound and lasting Oa whether neutral or not, worries
"It has only beer within the the same day that the Steel Cor All these, and a thousand other facta, merely illustrate the con- about anything she may have to The performances will conclude last 60 days that England has poration directors mat, Mr. Pani M. fared thinking and the make-belist which at the moment mark, say in the terrorising line. Gersoon after midnight to-morrow begun to realise what she has on Warburg, of the Federal Reserve and for many years past have characterised, Chinese domestic poli- many has more than enough night; on Monday, however, the her handa. She is just beginning Board, who received part of his tics. If, for example, the whole of the Provinces were unanimous business on her hands just now neaal theatre bour (9.15 p.m.) to back up against the wall, training in Europe before he be in their desire for a Monarchy, Prident Yuan would have been and can no more defy Portagal will be reverted to, making the determined to wis. How is that came a partner in the banking avoid both banking and industrial enthroned long ere tais. The fais, however, that the whole than she can defeat the forces close aomer bat earlier, that night. going to effect taxei? Only one firm of Kahn, Losh & Co., in infi stion, if we use this period of saence and unexpected proteo country is, politically, at any rate, in a hopeless maddle. The already arrayed against her. O Oring the sudden indisposi- way to raise them higher than discassing the outlook, said:
“I believe that we may say tion to increase our efficiency and reprint which we published from the North China Daily News yes course, in her everlasting vanity tion of Miss Phoebe May, the part theciating heart-breaking levels. terday was sufficient to show the extent to which the Yunnan revuls she is still quite capable of of "Eulalia" has been kindly Under each conditions people with reasonable assurance to the complete our organization, I do is misunderstood and belittled, and if it be so, as was there stated, "declaring war on Portugal, for undertaken, at very short notice, will economise throughout Eig business men and mannfacturers not see why we should not calmly that not one of the leading men in China is believed to be really the mere sake of being able to by H. H. W. Looker, for whom land and France and Russis and dealing with our own local retratto curability and intelligence, loyal to the Empere-Elect, then it will be many a long day before tell her people that the whole the indulgence of the audiences Germany consequently, the de- quirements Be not afraid, sad in meeting any emergency the
mand for money will be restrict go ahead. If we are prudent and future may hare is stare for sffairs straighten themselves out and harmony prevails in this world is against her.
requested: distracted End-
HONGKONG. FRIDAY, MARCH 3, 1916.
THE CHINESE PUZZLE.
German
pany.
Standard Oil Launch in Difti-
culties.
sp.m.
Not Genuine.
"THE ANGEL IN THE HOUSE."
meen
**10-
O
**
copy, the
LANGKAT OUTPUT,
Mezera. Wright and Hornby
March 1
Tons 178.
163
Total to 2ad inst: 339
Daily Stasze 109 15