FOR LADIES!!
A Wise Precaution before and after
BATHING
is to uso
OLEANDER SUNBURN LOTION.
Protects the skin against the hottest sum.
PREVENTS AND CURES
SUNBURN
Price $1.00 Por Bottle.
A: S. WATSON & CO., LTD.
Hongkong.
PIANOS FOR HIRE
New & Second Hand Moutrie Pianos from
$12 per month,
Tuning & all Repairs Free
SI MOUTRIE & CO., LTD.
Chater Road.
"VIYELLA"
SOCKS-For SPORTS WEAR
"VIYELLA"
The world's finest washing fabric.
“VIYELLA"
Cream or Khaki
Stockings. Sizes 10" to 12"
Cream Socks-
Ribbed or Plain Stitched.
LANE, CRAWFORD, LTD.
MEN'S WEAR STYLISTS.
THE HONGKONG TELEGRAPE.
THE LATEST
STUDEBAKER SIX MODEL "55" REGULAR SEDAN FOR FIVE-STATE BLUE-
5 WITH COMPLETE WIRE WHEELS-TIRES AND TUBES.
PRICE HK.$4,576.
THIS CAR HAS SAFETY CLASS STUDE-
BAKER FREE-WHEELING SYNCHRONIZED
ING
VACUUM
SHIFT- SPARK
STARTING
CUSHIONE!
CONTROL AUTOMATIC FULL POWER
HYDRAULIC
SHOCK
ABSORBERS NON-RESON-
ANT BODY
BUILT FOR COMFORT
other things and many which will interest you.
THE HONGKONG HOTEL GARAGE.
The Horekoos & Shenzial Hotels, Ltd.
incorporated in Ronghop
Happy Valler Stubbe Bond
The
Hongkong Telegraph.
MONDAY, MAY 16, 1932.
ANOTHER MONETARY
THEORY
To the evolving of monetary
no end.
schemes there appears Dr. Robert Eisler, who has been lecturing in England, is among the latest to attempt a solution of the world depression by means of cur- rency reform. In "This Money Maze: A Way Out of the World Economie Crisis," he puts forward his ideas at great length. Its proposals
MONDAY, MAY 16, 1932.
wages and salaries, pensions, etc., so us to add to the supply of con- these bank suming power. As credits to the Treasuries are not to be repayable, the result will be a, huge progressive addition to the supply of money. This, Dr. Eisler recognises, will cause pricen to riac,
DAY BY DAY
ACCIDENT, IN ALL DEPARTMENTS or LIFE, AND BO LIKEWISE IN THE HUSINESS OF MARRIAGE, OFTEN PRO-
from
AMERICAN WOMEN LOOK TO BRITAIN
I
-Says SYLVIA THOMPSON
and
CILA
Revisiting America after six morning, the postman and trades- one finds new spiritual mon having Instructions not to years landmarks.....A country of in-disturb them. Finally a neigh- in terms of current money. ButUCES THE REST EFFECT-Goethe,
violent bour, guessing the truth, prowled calulable impulses,
round their small frame-house at ez hypothesi they will not rise in
changes.
The American woman is the one in the morning, and perceived terms of bank money; for it is
Owing to a family bereavement, to be stable in purchasing power. Mrs. F. A. Mackintosh left for Home periscope of the American home. them, through a chink in the cur
the itains, busy with brooms and dus- .. reflects and focuses Accordingly, the rate of exchange by the sa. Conte Bosso last night. She
and She
is travelling overland
scene of the moment (and through ters and pails... It was explain- between bank money
her the man receives a certained to me that they were English! current
alter, Venice. money .will
practical, if limited, vialon of the (So the boot is on the British log!) The American, with a history of contemporary).
and immigrating current money being worth less
perpetually Wants to Know. and less bank money as prices.
A farewell party will be given to
altering population, is readier than rise. But as all countries will be
Prof. J. L. Shellshear, who will bel
To-day the American woman we are to adapt his standards. doing the same thing to the same leaving the Colony on long leave, by extent, their exchanges in terms of the Hongkong University Medical wants to know about life in Eng-Dangerously susceptible to any
ture about it-from Boston to
frequently the actual antidote of bank money will not be upset. At Society, at 5 p.m. to-day in the Uni-land. For eight weeks I had to lec-form. of idealism (the defect and Kansas City, from New York to his quality), nevertheless the lenat, this is Dr. Elsler's view.versity Union assembly room.
North Carolina....I asked them great quality is here. Ho
the asked
presidents Long-term stability of exchange
"Why?" tura (as the tough, slightly secretarles; Messra. Benjamin and Potts have
rheumatic British mentality can- rates, for bank money, will be en sured by the proportionale expan received the following cable from club sion of this money in all countries. their Shanghai Ofice: The Shanghal Why do they want to know all not turn) from an old ideal to A The American woman-call her, Dr. Eisler is very confident that Cotton Manufacturing Co., Ltd., re- the details of life in England?
ports that the profit for the half year What exactly"--since this system, internationally adopt-in Tin. 059,000 and subject to approval, trying to imagine what would and for a change, the "recolving act" recommended could interest them in all the de-of psychological waves In the pre- huvo Directors ed, wil cure all the world's the
bines an acceptanco of new troubles. At some points he seems payment of a dividend of Tia. 24 per tail that makes up "Life" here sent American atmosphere-com-
share; to transfer to Depreciation and do they want to know?"
material difficulties with a vital to contemplate world-wide action. Reserve, Tls. 230,000; and to
They answered, "Everything. Tell them everything you can determination to work out if neces- including all countries: at others, forward Tha 400,000.
Especially how Englishwomen run How English action by the countries of the Bri-
their hames. tish Empire and such others as are
Two suspected robbers are in the families live."
(I have been asked to write for prepared to act with them, to the
of the gold standard hands of the police as a result of
Investigations attendant on an armed a big woman's magazine on "En view exclusion countries. It is never made clear raid on an isolated hut at Wek Mellish Life on Less," L.e., on less
mancy.) early to which of these situations his Shan, near Fanling, in the Sheurigshui main proposals are meant to apply, district of the New Territories, Saturday morning. Four Perhaps he holds that, if the Bri- have been mentioned as participating questions that there was, indeed, is much more an attitude of "We tish Empire Initiates action, all in the outrage, in the course of which no detail too small to interest want to know (we in the West, will speedily have to one of the occupants of the hut was them. I told the how much led in the North, in the South) what head with a chopper, come tax we paid, and they sighed English people are making of life
and exclaimed
in this post-war era. wounded on
that they didn't know their luck,have dificulties as we have ours. I told them what wagen we paid There is a growing solidarity be our servants and they pointed
countries
join in. It is impossible, in the space at our command, to argte the pros and cons of the scheme, bat undoubtedly the proposal for 21 double currency raises difficult questions. The object is to pre- the real the stability, of
servo
Does
MANY LEAVE FOR HOME
Carry
ona
1 soon found out
from
men
with
amazement
camo
their
new.
ry, new standards of living not only materially but in the whole conduct of life. Her interest in English life, from the point of of poвally learning to manage at all-is not defeatist but
constructive.
Nor does she want to copy. It
Clearly they
out that we didn't know our luck.tween all the nations in the face I told them how many servants of general economic problems... were kept by larger and smaller and we feel this,..."
The thinking element in America spiritual regeneration. Sooner or Englishwomen af varying incomes value of contracts and of the pur. PASSENGERS BY CONTE ROSSO households, how much housework secs this as a time of necessary re-expected to do. (You may expect later that extraordinary American Many prominent Hongkong
this chasing power of international
spiritual Intellectual and dock Britain. Forsidents departed by the Lloyd Tries-a good deal of housework there money. But
tine liner Conte Rosse, which left at even if your husband has £1,500 vitality must make a new frontier.
time. 10 pan. last night. Among the pas-n year.) example, wish to do this?
Money Snobbery.
And the American woman, with she not want the real value of sengers were:
M. D. de la Prade, Consul Generall I told them about our schools,her talent for practising idealism. Ils great debts to fall, to offset
Does she for France in Hongkong, who is
universities. They advance. rise in recent years?
accompanied by his wife and leges and
wanted to know about our mar daughters;
our social want to make the reatiers a per-proceeding home on leave, M. de la our educational system, our col-seems to be getting ready for the
anent present of the results of two Part, Consul for Chile, riages and divorces,
life, our amusements, sports, the past deflation? Dr. Eisler says,
Among the faculty of the Hong-books we read.... probably with truth, that France proceeding on leave;
on no other terms.kong University who left were Prot. R.
But above all they wanted to kuow-and this was the main- will come in But is not the price of French par-Robertson, M.A., Professor of Econo- of C. A. Middleton-Smith, Professor ticipation in that case too high? mics and Political Science, Professor spring, I think, of their intense in- France may have her two kinds Mechanical Engineering, Mr. A. C. terest-just how people lived and the Braine-Hartnell, lecturer in English, "managed" who were most of them state of economic
By PHIPPS of money if she chooses, for
limitation...who did not expect to Biology;
"Desirable detached residence benefit of her routiers, but it does and Dr. G. A. C. Herklats, Render in accustomed to
that other
Dr. S. S. Strahan, well-known local make a fortune next week (if they
..who had, in 3 bed, 2 recep., kit. and bath- medico, of the firm of Dr. Allan and had not one now) would wish to follow suit.
short, to manage their domestic running water, telephone Strahan.
Mrs. A. M. Bawen-Smith is proceed-and social life on a small or very Greenwich time laid on."
nations
ROAD-RAIL TRAFFIC
DEBATE
not follow very are not always clearly expressed or easy to fol low, but the gist of the plan ap- pears to be that each country should have two different kinds of money-current money, and money of account. Current money will be used for small transactions and for paying wagen, while all other payments will be made by means of bank money. The purchasing power of bank money will be absolutely stabilised in relation to retail prices, but that of current
money will not.
In other words,
will ex-
a unit of bank money change for more or less current money according as prices rise or fall. This will secure that de tors and creditors will stand to pay or receive at any time the same real value as the loan represented when it was made.
The value of bank money, stable in purchasing power, will vary in relation to gold. But this will not involve fluctuating exchange rates; for Dr. Elsler proposes to "peg" the international exchanges by a double method. They are to be ar- tifically protected against short- term fluctuations and speculation by the mutual granting by each Central Bank to each other of gold exchange credits, which can be used to ensure short-term stability as the sterling-dollar exchange was artificially "pegged" during This, to be sure, will not Hecure long-term stability; but Dr.
the war.
SIR JOSLAH STAMP'S' J'LEA Statements on behalf of the rail- ways and the road transport com- at the annual panies were made meeting of the Association of Bri-
ing to London. Mrs. Bowes-Smith is modernte income... They wanted
her best known in Hongkong for to know how far people in England
amateur theatrical talent;
more reasonable
charges. The second remedy might be a State subsidy, and the third, even more pernicious, an indirect subsidy by
petitors. penalising and throttling their com
Time from the Mains
and
That is a forecast of any house- agent's panegyric in the future.
The latest modern convenience
Mr. J. L. Macpherson,
General felt themselves socially inferior-
the according to the inferiority of is the electric clock, which can be Secretary in Hongkong of
plugged in to any mains socket Y.M.C.A. Is leaving for home on six their income.
And could one answer, with where the current is "Controlled months leave.
clear conscience, that the British Alternating."
The "controlled" may sound middleclasses had been freed from money snobbery? One could only puzzling: and I must confess that say that among intelligent people, I had never suspected alternating the "Security-Respectability-currents of bong anything but But it seems that running a clock re- discredited. Prestige" standard had become eminently respectable.
Apropos of this matter, a story quires a higher standard of con- merely altogether than The conference passed a resolu- was told me of two elderly ladies duct
their neighbours by Put in the refreshingly naive tion expressing the opinion that it in Detroit who for a year or so brightening Slaments. was necessary, in the national in-mystified
always exquisitely clean as if trolled alternating" current is terest, that the railways should con- their way of life. Their house way language of a friend, the "con- tinue to function efficiently, that tended by an excellently trained simply one whose cyclic frequency the same the railway companies were suffer staff. Yet no staff was ever seen. is controlled on a time basis by There ing from serious disabilities and Nor were they at any hour of the synchronous checking with high- the public restrictions which ought to be re-morning or afternoon ever found grade chronometers,
tish Chambers of Commerce.
Sir Josiah Stamp, President of the London, Midland and Scottish Railway, who recently returned from America, remarked that the broad contentions of principle now In England before the public were practically
in the United States. here, neither
па
nor the railroads wished to throttle moved, and that the railway com-doing any housework.
a young and extremely useful panies should have equality of trent- economie industry such as roadment with other methods of trans- port as far as regulations and res transport.
trictions were concerned.
The British position was more clearly defined. Let any road user bear the cost of its use, broken up into the different classifications of use, and including all the auxiliary costs of road signalling. Let the road find its own equilibrium. compettion between railways and
The best thing that could happen was that, costs and methods being both on comparable lines, the com- munity should have the advantage of both services, and use whichever could be most economically pro- vided.
"When we use the phrase 'fair Eisler believes it can be secured play." Sir Josiah added, "we do
to
if all the Governments and Contral not use it in any moral sense, but sense of the greatest Banks make international in the
an
com- agreement
expand their economic advantage to the
munity." monetary circulation in equal pro- portions, in such a way as to se- euro the full employment of all available productive
resources.
All that the railways asked, he concluded, was that these matters should be looked into and that was still the backbone of the country's The method of doing this is tho transport system should not be pat central point of Dr. Eisler's out of action by shortsighted judg- scheme. The proportion in whichments of public utility. the circulation is to be expanded having been internationally
Suggested Reform
Sir Maxwell Hicks stated the agreed, each Central Bank is to case of the road users. credit the Treasury of its country with the additional money, which
Ho deprecated the phrase "Road versus rall controversy," preferring "Road and rail in collaboration."
the Government will then be free He suggested three possible re to spend. It can use this addi-melles for the railways. First, ho tlonal Income (n) to balance the would have an entire reconstruction Budget, thus avoiding kotrench-of the whole basis of railway trans- and railway charges. The ment in expenditure; (b) to fa-port stituto public works, thus provid- real trouble was that the railways ing additional employment and were making big profits on trunk contral lines and huge losses on the creating fresh purchasing power;
outskirts of their systems. They (e) when its productive resources should cut out unprofitable sections, fully employed, in ratsing develop profitable ones, and make
are
MIATA
The Secret Revealed On the other hand, they never rose until eleven o'clock in the
MEK HESITATE!
CREDITORS DEMAHO
·ROOMS,
"Buy a suit and I'll give you FIVE pairs of pants."
Qufte.
Some of the electric clocks at on the market are self- present starters-that is, if the current fails they stop, but If and when the supply is resumed they start work again without the alightest post-holiday depression.
This type of clock is fitted with a disc which indicates when it is on vacation by turning red. Almost human, in fact.
I suggest, however, that ad- ditional dics might be incorporat- ed which would indicate to
the Jones'a when to go and to me when It is time for a whisky and soda. (To save trouble the latter might be riveted in a favourable posi- tion.)
A delightful feature of these clocks to the small current-con- aumption which, in terms of that magnificent noun Wattage, works out at a singleton, the cost being approximately a shilling a year (at 1d. per unit.).
"SIGH OF RELIEF"
AT DOWFALL OF N.S.W. LABOUR PREMIER
Sydney, May 15.
Prices on the Stock Exchange rose 10 per cant. following the dismissal of Mr. J. T. Lang, Labour Premier of New South Wales,
The Trades Hall is.dumbfounded, members refusing to comment say ing "Let us recover from the shock."
The Prime Minister of Australia, Mr. J. A. Lyons says the whole of Australia will heave a sigh of reilofRouter's Special Service.