6
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IN PASEN
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Insist upon PILSNER URQUELL, the original
PILSNER BEER.
"U"
Call for
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THE HONGKONG TELEGRAPH, THURSDAY, OCTOBER
for Economics! Transportation
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"WHAT A CARI FOR SO
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method suggested is altogether valucices. This much is apparent from the notification issued by the Canadian Pacific Steam- ships, Ltd, to the effect that the Director of the Passport Bureau in Shanghai has declared that all persons holding pissports issued by the Hongkong Govern- ment are subject to visa require- ments, unless they were actually born in Hongkong, and that, ae- cordingly all such passengers on arrival must obtain a visu at the uffice of the Bureau, the fee for which Is ten gold francn.
There
is nothing in the least degree am- biguous in this declaration, but it does run totally contrary to the Hongkong Government's
22, 1931.
DAY BY DAY
WHEN A YOUNG WOMAN DEHAVES TO NER TARENTA IN A MANNER
ANIE. PARTICULARLY TENDER
RE PECTFUL, I MEAN FROM PRINCIPAL' AS WELL AB NATURI, THERE IS NOTHING GOOD AND GENTLE THAT MAY NOT BE EXPECTED FROM HER IN WHATEVER CONDITION SHE IS PLAC- E--Fordyce.
the There will be a Lecture at
So- Hongkong Lodge, Theosophical cloty, 7, Queen's Road Central, to-day at 8 p..
the
THE GOLD STANDARD versus BI-METALLISM.
By LORD GREENWAY.
The following article'was writ- ten a short time before the of- cial announcement that Great Britain had temporarily aban- doned the Gold Standard was made.
Lord Greenway, it will fr seen, rightly assumed that The American Mall Line advise that! *uch abandonmești was rertdin.
will President Cleveland 25.5.
Na recent issue of the Morning arrive Hongkong on Saturday evening,
Post was published An October 24th, and will all frum Hong
under
hending the kong for Manila on Sunday at 0 p.m. article
of "A
from Flight
the An attractive programme has been Pound," purporting to portray the tion of the reciprocal arrangement.
arranged for the Hongkong Volunteer evil results which would follow an In view of the continuous trn-Defence Corps Promenade Concert abandonment of the Gold Standard.
cuncep-
which takes place to-morrow (Friday) evening
of
4.
Instead of there being a de- cline in Government revenues there ¡must be a large increase.
5 and 6. The grave injurica and hardships indicated would not be incurred because:
(a) the recipients of the dole and wage earners would be com- pensated by the increased em- ployment and the higher wages which would be brought about by a general return to prosperity.
(b) the investors and other classes referred to would suffer no injustice, inasmuch as they are at present, owing to the ap- preciation in gold, enjoying an. advantage to which they are not entitled, fe. an unturned in- crement." to remove which, in the case of owners of Innd, the inte Government passed their re- cent Land Tax Bill.
This article was evidently writ- Me between Hongkong and Shang- Wiper,
the Kowloon Cricket Club.
ien from the point of view of what hai, the matter is one of consider. ! Cowl
Mr. A. F. Paul, of the Hongkong would happen in the event of an is- able haperlanci, especially to
Electric Company's quarters at Northsue of an unlimited amount business men. For this reason, Peint, has reported to the police that paper currency unsupported by un From this one person stole a sum of $120 from adequate gold reserve. the Government should without de-
his dressing table drawer some time point of view the forecuata it gave with lay take up the issue
the between last Friday and Wednesday, in to what would happen were more
or less correct, as was very amply || Shanghai authorities and get the
The forthcoming wedding is andenonstrated a few years ago in present position thoroughly clarified. How
Staff Sergeant Germany, when the value of the troubles are, the misunderstanding has arisen, Sydney Henry Cheetham, R.A.0.C., mark was allowed to fall away al-shown by the Macmillan Communit-
Miss Baby Evelyn Walker, a
point to the fee Report: we cannot imagine. Surely in any
Queen's Army schoolmistrene, why is most to vanishing
great loss and distress of all classes (2) the low prices now obtain- reciprocal arrangement on a matter invelling to Hongkong on the T. Sin that country. The writer of the ing or raw commodities,
Neuralia.
article rendered a great service in
PRODUCT OF GENERAL.
MOTORS.
SHER
| THE HONGKONG. HOTEL GARAGE.
The Heng & Shushal Hotels, 2.4%.
in Valley
Victor Dance Records
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Men's Wear Stylists.
in Hongkorns?.
The
Hongkong Telegraph.
TUESDAY, OCTOBER 22, 1031.
THE PASSPORT MUDDLE.
nratheed
between
Dr. Willinen Yuen, who obtained his thus bringing home the grave re qualideations in Hongkong and did sults which would follow if we are post graduate work: in England, has driven off the Gold Standard on to arrived in ipoh to commence practice paper, there. He will be joined in his prne.]
a
The Chief causes of the world's Anancial and economic
undoubtedly,
13
(2) the great fall in the value filver, and
1
the consequent diminish-
4 purchasing power of the whole world.
of this kind every enre would be taken le ser that the views of the two parties coineich
gure the
01- derstanding renchisi. That they If
But it seems to me to be certain
In the case of Australia atenc do not is now all tou clear.
te by his wife Dr. How Sho, who that the small balance of trade in the fall last year in the National The Chinese contention is correct. also obtained her degree in Europe. our favour in 1980 will be changed Revenue due for the lower prices oh- adverse btained for her raw products, and namely, that the concession merely
Areunding to a repart mude to the into a considerable applies to Hongkong-born people, police, Nam Pan, aged 5, apparently owing to the fact that with the purchasing power, amounted, it is lance in the current year. mainly tite consequent reduction in her mendicant, was admitted to the As well
present low prices MAD of the Government Civil Hospital yesterday debts due to us from overseas willy, the National Revenues and the the arrangement might
stater, to £70,000,000. and, similar- Jever have been made, since soffering from the effects of oplum
purchasing power of every other would affect but a very small pro-poisonlige which are believed to have not be paid.
iwen self-administered. His condition
jeountry in the world have been cor portion 01 Hongkong residents
is not seruus.
Therefore the Gold Standard up-frospondingly affreted. visiting Shanghai. The Hongkong:
in any case;
Government has piously nut so arrangement. for regarded th which reasoTE it is essential find the insure he reopened,
tary the
United
was
The same position arose, al-
111
Mr. Jahel Abe has been transferred Pears to be doomed to the Kobe Office of the M..K, and at the real question is, are we to
These low prices are the direct Mr. Nobasaburo Hirowoka has been on to paper, or are we to adopt appointed Manager of the Hongkong the French plan and stabilise the result of the appreciation which Office.
Mr. Masu Kawazu, Mr. pound at some point below its pre-has taken place in the value of gold Taizo Takahashi and Mr. Yoshio sent value, or are we to call in string the past few years as com- Hayasaki will continue to sign on the yer to relieve the pressure on gold pare with the production of other firm's behalf as Assistant Managers, lay reverting to the historic system conmodities, for which it is at pra sent the rule natum of barter or of Ri-Metallism? Regarding the admission of school) A Corner in Gold?
exchange in all the principal pur of The uloption
Bi-Metallium troups to the China Exhibition at would rule prices and enable, debt-
chasing countries. The gold holdings of the
reduced charge of 20 cents per head. applications have already been re- to pay; and it would raise the States recently passed the $5,000, esivost totalling 1,200 children. As price of silver, and thereby in-though in a much less neute de- 000,090 mark. This was over 45
this is the maximum possible nursher Crease the purchasing power of the gree, about 60 years ago, when the and caused 1 per cent, of the world's tola mone that can be admitted at the spesial population of the whole world. production of gold from Australia
After rate, no more applications can be con- have been hoping that these and largely decreased Shortly stocks;
the alump adop
prices the aidered.
other beneficial results of
heavy *W high mark
tion of Bi-Metallism would have of other commodities. To America We were hoping that the agenda | set,
The less of a Colt revolver from been demonstrated by some abler come this the abandonment of the Gold Standard and the adoption of $500, the 8. Chin lys has been reported pen than mine, but since no Metallism were. about amounts, for To-dng's meeting of the Legis large
then strongly [to the police by Mr. G. R. Gow, the else has undertaken the task, I ask 000,000 moving out with astonish- lative Comteit would have contain-
Instead of welcomind officer, whe intimated that the to be allowed to follow up the ar-advocated, but the difficulty at that. in rapidity. ed farther questions in reyard tr
weapon was handeel to the Chinese Licle by a statement of the great time was solved by the sudden dis- ing the development, the New York quartermaster te etean on October 14 the Shanghai_passport issue, The
Petrzal Reserve Bank clamp and two days later the quartermaster vantages which would result if covery of large supplies of gold in the abandonment of the Gold Stan- the Rand which rendered a changé dismissed at Swatow, le in
for the matter has been left in such
this of standard unnecessary A Fest
increased
enrried out in dard were the was
suspected of having taken the revolver
time being. highly unsatisfactory state that re-discount rate in order to with him. The loss was not discover manner.
Dealing first of all with the evils In recent years, however, there there is obvious need for further safeguard the £4,500,000,000 [eft? | ed until the ship's arms were checkelf
on arrival in Hongkong,
forecasted in the article seriatim has again been a serious falling off pressure being brought to bear on Is the United States trying 1p
would point out that: 1, 2, and in the world's production of gold, on which the the Government, in order that the corner the metal
would not oreur at all, since ancoupled with a large increase in work's money is based? How can intentions of the reciprocal 12-
expellents. Investment in some of essential of the adoption of Bi-the production of other commodi- Hong- between the rangement kung and Shanghai authorities may
lo
22
of the
I
30
began
tu
וונד
در بازی
over-
the United States trade with the the gold-losing countries, for exam-/ Metallism by this country is, asties, and the need for the general
world's medium of exchange? Au-
should
reverse
hibits itself,
trying now 1501
the
is on a Protection basis.)
dard, thereby rendering gold more unsuitable than ever as the sole medium for barter or exchange. What the result will be if China carries out her long, desired inten- tion of abandoning her Silver basin it is not easy to imagine, but it would certainly mean a further au- preciation in the of gold and
purchasing value. correspondingly fur- ther lowering of prices for commo- dilles all over the world, and a consequent accentuation of the pre- sent economic difculties.
To explain fully the beneficial effects of the adoption of Bl- Metalism would, I am afraid, take up too much space, but, briefly, they may be summarised as fol- lowa:
was pointed out by Lord Hunsdon abandonment of the ineficient Gold ple, is out of the question, at least in his recent able exposition of the Standard has becorae more urgent thorities in Washington declare or the old basis. beenuse their
that some of the other prin-than ever it was. tr put into effective operation, that 40 per cent. has sought refuge bonds
unsalenble Ave
Among cipal Gold Standard countries Added to the falling off in the When the question was last raised in the United States for safely's | American investors. The United should join in the movement. production of gold, there has been
For this country in Council, the Government showed sake, the inference being that when States
to adapt Bi-a large Increase in the demand for such. co-opera- that metal due to the fact that dur- of Metallism without flow itself to be totally unequainted conditions return to normal, that
countries with the actualities of the situa- portion of the gold will flow back gold. Instead, a check is put on tion would, of course, be just as ing this period many
foulish as our maintenance of Free which were formerly on a Silver tion, being under the mistaken Im-again. The explanation is far form immediately such a tendency ex-Trade whilst the rest of the world basts have adopted the Gold Stan-
satisfactory. The particular rea- pression that any resident
son for the incoming of a shipload Colony enn enter Shanghai with- of gold is as elonked In mystery us But having to comply with visa re the ultimate destination of a feld
has
heon of wheat. Just as the whent is not quirements. This, clearly shown by the experiences segregated for disposal at home or abrand, so the gold arrives in the of recent visitors to Shanghai, as
-United States without bearing any well as by a statement issued by the explanation as to why it has come. Canadian Pacife Steamships, Ltd., All that one can say definitely is is by no means the case.
that it is settling debts which re- According the longkong manin unadjusted in any other way. course have Government's interpretation of the The debt may of reciprocul arrangement, British arisen by the transfer or cupital subjects who are not residents of by persons who doubt its safely in their Own country. But these Hongkong are required to have
transactions are lost in myriads of Chinese visas on their passports other transactions which are final- in neder to enter Shanghai, wherely hainneed by gold shipments. as British residents of the Colony Clearly a world on a gold standard ean enter without a visa, So far an must keep the metal fairly evenly can this bc the Government is aware, no dis- distributed. How tinction is made between British done when nations are all different residents born in the 'Colony and in their economic status? Ilither- to-reliance has been put upon. the British residents who merely live thesis that the gold-receiving, hore. However, the point having creditor, nations would reinvest been raised, loen! British residents their funds
the gold- In or debtor, countries. are informed that they can have losing,
But in the post-war world their passports endorsed with a
this tendency has been either certificate of residence, if they so
in suspense or in faulty operation. desire. In putting forward this The gold flow was a one-way move- suggestion, the Government doubt-ment-to the United States and to less imagined that a passport so Franco. In Latin Americs and in endorsed would entitle the holder central Europe, loss of gold caused to enter Shanghai without a visa, loss of confidence, which resulted since the endorsement would clear in further losses of gold. The gold ly show him to be a resident of the atore in the United States is thus explicable only along a casual Colony. Unhappily, no such en chain. The point has now been dorsement would be accepted by reached whore equilibrium cannot the Shanghal authorities; so the be regained by recourse to the old!
or
"I have it now-chango your history hour to home economies, drop French for painting and then we can have.
our lunch hour together."
(1) It would restore, or par- tially restore, the value of the vast hoards of silver in India and China (variously estimated as amounting at cost to £2,500,-
and 000,000 to £6,000,000,000), increase
the correspondingly purchasing powers of those coun- trles.
(2) It would increase tho commodities all prices of raw aver the world, and correapon- dingly increase the purchasing Fower of every country (includ Ing England).
(3) This increased purchasing power of the whole world would solve, or go a long way towards solving, the unemployment pro- blem, which is to-day affecting nearly every country, and is the main cause of our present trou-, bles.
(4) By increasing the demand for labour it would, to a great. extent solve the dola question, and by doing away with the evil
Continued on Page 7.)