THE HONGKONG
TELEGRAPH, SATURDAY, SEPTEMBER 26, 1931.
AT
__THE_HONGKONG_DISPENSARY
A Clearance Sale of Bathing Caps and Shoes in The Very Latest. Shapes and Designs.
Selling at Cost Price!
BATHING CAPS $1-50 BATHING SHOES $1-00
A. S. Watson & Co., Ltd.
ESTABLISHED 1841
NOW ON SALE
The New
Victor Records
for September
Including Two Additions to the Musical Masterpiece Series.
M-94 Chopin's Ballades-Played by Cortot C- 15 Waltzes of Johann Strauss--Played by
famous European Orchestras.
S. Moutrie & Co., Ltd.
CHATER ROAD.
Allsteel
Office Furniture®
(Filing Cabinets)
Easy
Operation
Ball
Bearing
Drawer
Rollers
process of reasoning be associated with it, these can only be describ-
hopelessly outnumbering those act
WATCH THIS AD.d as cowardly assaults by gangs DAILY FOR GOOD upon When it comes to pulling AUTO VALUE
ARMSTRONG-SIDDELEY G- cyl.15 h.p. 6-pnes TOURING CAR-MAROON, UNDER 1,000 MILES-IN PERFECT CONDI- TION
PRICE HIK$2,250.
CADILLAC MODEL 61-VB 7- PARA TOURING CAR SPECIAL BODY-completly equipped
and in EXCELLENT CONDI TION LESS than 41,000 Miles.
I
PRICE HK$2,500.
CADILLAC MODEL GI-V8 7-pars TOURING "CAR" STANDARD EQUIPMENT IN VERY GOOD CONDITION
PRICE HK$1,200.
VEHICLES MAY BE INSPECTED AT OUR STUBES ROAD GARAGE THE HONGKONG HOTEL GARAGE.
The Hongkong & Shanghai Hotels, Lid. turported fa Kungkong. 25, Queen's Rund C. nad stubbs Rose,
The
Hongkong Telegraph.
SATURDAY, SEPTEMBER 26, 1981.
A DISGRACEFUL BUSINESS.
DAY BY DAY
THE MAN OF PLEASURE, AS THE PHRASE IS, IS THE MOST RIDICULOUS DF ALL BEINGS; HE TRAVELS, INDEED, wrT!!
AND
Reparations and the Price:
Level.
By H. B. ELLISTON.
Janocont people out of tramcara and manhandling Japanese mari
18 RIBAND, PLUME, nera who happen to come ashore,
In some quarters it was expect with the United Sates. Therefore no words of condemnation can be FLS; HIS DRESS AND HIS MUSIC:
BUT THROUGH A TILSOME AND DEA-ed that the London seven-power con- thore should be nono in the Young sufficiently. strong. Chinese who TEN ROAD; AND EVERY DAY NAU-forence would prepare the ground plan, in spite of the Dawes plan indulge in such tactics are a dis-SLY REPEATS THE SAME TRACT. for a downward revision of repaca-precedent.
---Young
tions and war debts. There has grace to thoir race.
boon no sign that sich a plan came In theory roparations form an obligation on Gormany to pay the under discussion.
His Excellency the Governor has appointed Dr. Ethel Mary Minett and Dr. Douglas Laing to be Inspectors of
Schools.
•
It is clear that only by the dis-
The agreement in London putting ex-Allics war damages. Back in play of a firm determination will the authorities be able to suppress
the meritorium into effect offers the 1921 the Reparation Commission prospect of a scaling down, how set up by the Treaty of Versailles For this detestable movement.
ever. In the cause providing for fixed them at $93,000,000,000, Dia- regarding this tremendous sum, this renson, it is essential that any At Tuesday's Rotary Club tiffin the German payment of the suspended who are found guily of fostering "peaker will be Mr. Leo Fong, and bis annuity, a loophole is left for n which was a stage figure for the French subject "Canton: Past, Present and change in the whole body of re-appeasement of extreme
parations, as if in acknowledgmont nationalism, the Dawes plan merely it shall be given the maximum Future."
at the of prevailing agitation. The outlined a series of annuities with punishment applicable to their
It is notified that, the name of the agreement says that the suspended out saying how long they were to It therefore avoided facing, offence. But the action must be Anlatte Trading Company (1926), amount shall be paid beginning July run.
struck off the 1, 1933, unless otherwise agreed, suve by inference, what was an prompt. It has In other times Limited, has been
Register.
This last phrase, in what was sup-invidious task, even in 1924 of stat been shown that a policy bused on
posed to be a definite pact, is in- ing the capital eum expected of Gor- effective. there considerations Is
many. But the Dawes experts still His Excellency, the Governor has deal significant. We do not doubt that the authorl. M. Snifth of his Commission in the will be wiped entirely clean.
accepted the resignation by Major It is idle to expect that the slate maintained the theory that repara
As yet tions avere payment for war dam- ties will show that they intend Hongkong Volunteer Defence Corps.
public option would not tolerate ares. standing no hansense over this
cancellation. Even revision
In the Young plan all this was business, Law and order must be preserved, and immunity from harm guaranteed to all peace. loving citizena. And that fact must be impressed on these strife. Mongers.
Election Talk.
will
It is notified for the information have to be tackled warily flow changed. At last the Germans knew of owners and occupiers of tenements shall it be approached? What is how much they were called upon to that rates for the fourth quarter, 1931, the most practicable procedure? As pay, because the annuity schedule are payable in advance on or before: good a way as any is via the price is equipped with a time limit. The level, the fall of which in the last annual payments capitalize roughly
the 31st October.
.
The whole of the $9,000,000,000
His Majesty the King has been two years has added so grievously at $0,000,000,000, i decided, drop pleased to approve the appointment of to the weight of debts, individual as from $33,000,000,000. the Hon. Mr. R. II. Kotowall, C.M.G.. well as national-an extra burden
.D. to be ni Un-oficial Member of which has been quite fortuitously however, was not chargeable to war the Legislative Council for a further imposed. term of four years.
יי
糖
damage reparations. Here is where the new theory of the Young plan
This procedure would have pre-comes in. The charges on Germany
The Dawes are divided into two categories; that the (1) $3,000,000,000 or one-third,
bing due for war damage. (2) $6,000,000,fu», or two-
The emergency part of the Na-
The intelle contains regulations cedent in its favour.
committee realized tional Government's task. the under the Tobneco Ordinance making! balancing of the budget, is likely it necessary for retailers to keep stock feasibility of its reparations scheme
thirds, being due for cover to be completed by Friday of next books showing sales. Lengthy regula depended upon the stability of the tions in regard to import, export and price level existing at the time.
for war debt payments. The chief means of obtaining the week, in aatteipation. certaining of tobacco are also issued.
The first category shows the foreign money with which the Ger- quarters are bringing strong pres-
Allles sure upon the Prime Minister to
It is notified that the fee to be paid maus pay reparations is by selling manner in which the former
every money-changer's licence goods abroad. If the price of goods have slashed their bill for war precipitate a general election. The for
hereafter granted shall be $100 in lieu falls, the burden of payment risen, damages. Three billion dollars re Conservatives appear anxions to
of the fee of $60. Money-changers because more goods have to be pro- presents only about a third or what test the feeling of the country on leensed in the New Territarles, except duced and Rold abroad in order to the French alone claim they have the tariff issue. They seem con- New Kostoon, shall pay a fee of $25 bring in the same monetary return. spent for the repair of their de
triumph. per annum.
To assure Gerninny of some cer-vastated areas. In its attenuated The appeal made in the Police Adent of an électoral Court yesterday by Mr. Murphy for This is perfectly clear. What we
The fifth general meeting of the tainty in its liability, the authors for this reduced charge wanted
which would have cor- frreducible. prompt and severe punishment of do not understand is the suggest Arts Association, Hongkong Univer-
The contingent item lay in the related the annuities according to of real urgency. The budget has 30th bat, at 8 p.m. in the Unis price fluctuations. If the price second category, the two-thirds of ing in anti-Japanese demonstra-
been balanced without resort to Assembly room. Mr. C. E. R. Clara-
but, B.A., will lecture on "Samuel level fell below a certain point, the the annuity which is due for war tlons is one which will be general-
annuity would be reduced; corres- debt cover. Germany's creditors The Government has de- Pepys, Diarist." tariffs.
pondingly, if it rose, the annuity faced the logic of their new deani- ly re-echoed by all inw-abidingvised a programme which imposes
Mess. 5. A. S. Watson and Co., Ltd., would be increased. This was pro- tion of reparations by promising citizens. There can be no ques-sacrifices on all classes, involving advertise that as and from October 1, Lection for both debtor and creditor to pass to Germany any relief they might receive from Washington on tian that unless the most stringent a heavy burden on the bulk of the they will open a new establishment ) against the vagaries of the pur" their war debts. The benefit to
serve to in the lounge of the Peninsula Hotel, chasing power of money.
quisites where perfumes and other tallet re-
may
purchased and prescriptions accepted, the intter be- ing dispensed at their Kowloon branch.
of
all Chinese found guilty of indulg-tion that the tariff problem is onesty, will be held on Wednesday, the athe Dawes plan therefore added surded by the experts as fixed und ·
Manchurian affair
measures are taken, the situation people. A tariff would will get completely out of hand.send up the cost of living. reduce The rights and the wrongs of the the real value of wages and of the can be alta dole-which is being cut on the pretext that the cost of living has gether ruled out. The pointfallen-ind produce revenues which the Hongkong authorities which their own figures declare to have to keep in mind is that this be unnecessary. The only other In a British Colony, in which a reason for tariffs is bound up with who reside here, whatever their the adverse trade balance, and we refuse at this moment to accept nationality, have the right to ex- pect protection from mob violence. Gangs of Chinese hooligans, insti- gated by agitators, must be taught that they cannot over-ride law and and order, and that if they attempt to do so, heavy punishment will quickly follow:
be
From 1921 to 1928 the world Germany would be two-thirds. But, price level changed but little, and recalling the categories, this means there was no need to invoke the that if the United States should class, but since the inauguration cancel the debts, the whole of tha of Germany's obligation Dawes plan, prices have fallen about| LAND REGISTRATION. 30 per cent, adding a considerable end of thirty-seven years. when war premium to all fixed money pay damage reparations will have been ments on debts.contracted prior to prid. the full amount of any Ameri- the fall. If the clause in the cat remission will revert to Ger- Dawes plan had been transferred to many. because after that tinte the the Young plan, Germany would Germans will simply be paying war thas have been able to obtain sub- debts. stantial relief, without inviting the political compilcations which attend
of the Young plan, successor to the second catego lappear. At tha
ORDINANCE TO BE AMENDED.
The Government
Intenda
to
Or-
The view that this is the only device amend the Land Registration for grappling with the problem.dinance of 1844.
*
Since Germany's creditors allow-
Sir John Simon, whose judgment is Section 2 of this. Ordinance, sub seldom far astray, advocates anatitutes two sub-sections for section revision conferences. For the re-ed for revision only on that two- ments to the United States, no al intelligent and discriminating res-26 (2) of the principal Ordinance, lief would have come into effect thirds which covers war debt pay- At the time the Young plan was teration in German reparatiens triction of imports. But delicate the meaning of which was obscure automatically.
Officer's valuations to property aigued the omission of the clause seems likely as yet to be made, even discrimination cannot be expected and appeared to limit the Land of an over-all tariff, und we favour worth more than that amount. This caused little comment. It is only to adjust the annuity to the new price level, without concurrent the alternative of n complete in the case of the partition, ex-since the drop in the price level to
war debts. The unfortunate aspect of the prohibition of luxuries. British change, gift inter vivas or sign a point which Sir Josiah Stamp said action by the United States on the To gain that end it was firat whole business is that in crises finance will not be restored to its ment by a Trustee to a Centuique two years ago would inevitably pro. trust (wherein no consideration volte debt repudiation that it has such as these, the nominal leaders old, proud position in the eyes of is stated) there has been been missed. Why was it left out? necessary to secure American ac-
money of the Chinese community seem to the world by the imposition. of in most cases, no proper statutory Young committee was sitting them like two pockets in the samo The reason was plain enough when qulesence in the debts-reparations ****(linison. The Young plan connected be quite unable to influence their tariff wall. In any event, surely method of determining the appro- The concern of the experta other pair of trousers, but this was done
compatriots to behave as respec-present unsettled economic condi-priate fee.
Section 3 of this Ordinance makes than the American and the Germans without American consent and, in tions in Britain and elsewhere table citizens., We recognise, of
to restrain certain additions to the fees set out was to align reparations with war shou. be sufficient
itude of every Administration Course, that these attacks. оп
politicians from creating greater in the Second Schedule of the prin- debts. There is no price-fluctua-fact, against the well-known at- tion clause in the debt settlements since Wilson's. Presumably the re- Japanese lives and property are the uncertainty by forcing upon Great cipal Ordinance.
lation has now been tacitly acknow. Britain an unwanted election.
ledged by President Hoover's diplo mney In connexion with the moratorium.
work of the ignorant riff-raff, and that they are condemned as much
Proved
Durability
by the better-class Chinese as by
Stocked
in Letter
& Foolscap
Sizes.
(Finished in Oliver Green Colour)——
4 Drawer Letter sizes
anyone else. None the less, it AFTER 47 YEARS.
ought to be possible for the leaders
of the community to find Home BRAVERY REWARDED BY THE medium through which they can
WAR OFFICE.
appeal to the botter instincts of the people to refrain from compli-Collector of Taxes of Bath, who Mr. Frank Yerbury, a retired cating a situation which is adready saved a young officer's life at the serious enough. Unhappily, mob Battle of El Teb, in Egypt. 47 years ago, when a private in the psychology, as we remarked yes. Royal Marines, has just been r terday, takes little account of rea-warded by the War Office with a son. Yet some good might be nedal and a pension of £10 a year. Mr. Yerbury stated that he had done by seeking to show the mis-almost forgotten the event and chief-makers the error of their had no idea why there should have ways, and demonstrating that, by been so long a delay in its official
recognition of it. acting as they are doing, they are
Ho enlisted, he said in the only surrendering any sympathy Royal Marines in 1879, and served which others may feel for the for 21 years, lonving the service in 1900 with the rank of staff ser- Chinese viewpoint in this unforgeant.
tunate Manchurian business. How $215.00
4 Drawer Foolscap sizes- $230.00
Lane, Crawford,
Office Appliances Dept.
Ltd.
.Phone 28151.
The act of bravery for which little cold reason enters Into the Mr. Yerbury at the time was men- inovement may be shown when ittioned in dispatches took place on
February 29, 1884.
guna
for-
ja pointed out that in many in- General Davis ordered the stances in which Japanese estab-Marloes to charge the loft flank lishments have been attacked and two captured Krupp
of the enemy's position where were in which Japançao goods have been Lieutenant White rushed destroyed, Chinese landlords and ward urging his mea on when
was attacked by tw native wor shopkeepers are the real sufferers.
rlors. Another mon grappled with As for the attacks on Japanese one of these while Private Yor- pedestrians, who have nothing bury, being at too close quarters with the other, warrior to use hle whatever to do with the Man-rifle, seized him by the hair and churlan affair and cannot by any swung him agido,
"Well, sir, to really see this city you should drive out along the boulevard and see our fine homes. We're mighty
proud of 'em.”
The next step le to convince the Administration in Washington that a readjustment of the war debts la overdue. The chief basis of the settlements was "capacity to pay." It la
la clear that if this
yardstick were used now it would yield dif- ferent results from those written. in the debt agreements.
But let us keep in view fust one factor in changed capacity, namely, the addition to the Inurden of pay. ment created by the fall in prices since the debts were contracted. The obligations to the United States were incurred by the purchase of goods and materials on credit. Secretary, Mellon told the congres- stonal committee which discussed the settlements that: the United States had charged “as much as the traffic would bear:" in other words, war prices.
Take one example, the sale of silver, an item in the British debt. This was effected' at. $1 an ounce. The price of silver today is less than thirty cents, but Britain has to
repay the loan, not with silver, but with dollars at a highly inflated. value in terms of that commodity. Admittedly the example is an e- treme one, but the of other items show wide
| na extremo
come
In all attempts to wh
to win revision of
reparations the problem has always been to find a meeting ground, which will bring experts or statermen to gother. The state of the price.lovel might well furnish the necessary
formula.
L
*