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Ben Our Stands 19 to 22 in the Mala Hall-British Empire Fair
THE HONGKONG TELEGRAPH.
BRITISH EMPIRE
FAIR
SEE
THE
BRITISH
CAR
WITH THE
ONE YEAR'S
THURSDAY, MAY 25, 1933.
checked by the prohibition of the export of gold and the announce-
TEN DAYS IN GERMANY The Very Idea!
ment of a programme directed to NO 2. LEIPZIG FEARS FOR FUTURE
ward the restoration of higher prices, emphasis during the Conference itself should natur- ally centre upon measures for compelling an upward trend of prices and upon measures design.
OF FUR
TRADE
By MILTON BRONNER
lavo
THE TRUCE, THE
WHOLE
TRUCE AND NOTHING BUT THE TRUCE
By Edward Kelly, Special Rép.
MONDAY. A Truce Has Been
TUESDAY. The truce has not been algned.
Wednesday. There is danger
Lelpzig, Germany, is one of trade may be transferred there. centres of the The Jewish buyers know that they ed to secure and maintain stabilli.the fur trade
in London, and should they shift ty when a satisfactory price level world. For centuries it has been will not encounter anti-semitiam
the custom for the fur dealers to their market one of Leipzig's old- Signed. has been achieved. In view of stand upon the sidewalks of est and most valuable industries the unprecedented difficulties in great street called The Bruchl, would collapse. the banking situation in the which is lined with fur ware- Leipzig alno claims to United States, the course chosen houses and offices, and there each year the greatest trade faira
closo their in the world. For four centuries that the truce will not be signed.
hold In these fairs have been
Thursday. The truce has been was probably the only one which meet buyers and
deals. This could have produced a quick re-ended by order of the versal of trend. By the suspen-leaders. The street sion of gold payments a buffor kept clear. The fur was established to absorb the must be done in shocks which would have result-houses and offices, ed had the United States remain- ed on the gold standard while
the necessary legislation was he-
WARRANTY ing enacted and put in force.
VAUXHALL STAND OPEN TILL 10 PM.
HONGKONG HOTEL.
GARAGE.
And it is a striking fact that the programme of legislation con- stitutes a somewhat belated re- cognition that the greatest single factor in producing the depres- sion has been monetary policy. Without a clear mutline of the full programme contemplated, the public and the press have drawn widely varied conclusions as to what further measures are likely to be enacted and as to the results likely to follow from the NOLASCO DA SILVA-On 24th measures now in force. On the May, 1933, at Praia Grande, whole, the financial world has Macho, to Aller, wife of J. Nolasco de Silva, of Hongkang, a daughter.
BIRTH.
The
Hongkong Telegraph.
THURSDAY, MAY 25, 1933.
AMERICA AND GOLD
expressed approval of the pro- gramme undertaken and there is an accumulation of evidence to show that financial confidence is Adverse being re-established. criticism of the Washington pro- gramme has centred upon two points: first, that inflation will not be held within due bounds, and second that bitter monetary and trade warfare with Great Britain and the countries on a
Economists as a body are still sterling basis will result. Con- unable to make up their minds trol of the degree of inflation is whether or not America's aban-within the power of the Pre- donment of the gold standard sident, and it is only reasonable has been a disastrous prelude to to suppose that he will profit by the World Economic Conference the experience gained in the or whether the American re- previous cycle of inflation and covery programme points the deflation. The secret of mone way for the rest of the world.tary stability is the maintenance
Cess.
Our Troubles May Yet Cease
custom
ia
now
must
the
Nazi March and August. All leading
be
German manufacturers, as well as signed.
exhibita. Millions foreign, sond trading of dollars have been spent for the ware erection of big building especially Idealgned for the fair. There is a
Deutsche, verleidigt Ends gegen die jüdische Greucipropaganda, Kauft.
No longer do the Jewish ME bei Denchz furriers of Leipzig stand
on the eldewalks of The Bruehl (pictured above) to carry on their thriving trade. They must deal indoor-by decree of
once.
Germans dele yourselves againstje
· atrocity propagarj
Nazi leaders. At right only al German
Window-shopping German frauleins take beod of an anti-Jow sign posted in department of a
front
store.
Fairs at
Friday. The truce has not been signed.
And so on, do capo, ad infinitum, in saccula saccularum, or what hava you.
A Truce on these truces, asy- way.
The Telegraph, determined to get the right oil, yesterday decided to send its special representative to Peking to find out just what is happening there.
Mr. Kelly's graphic descriptions of the hand-to-hand struggle to get through the Hole in the Great. Wall, before all the pubs close at midnight, suggest that it will be an awful thing for the Sino-Japan- ese military authorities if pence actually does break out.
There is, according to Mr. Kelly," a possibility that the war may yet end in blows. Reports herewith.
(Special to "Telograph”)
[By Telegraph. Copyright. Telegraphip Meastpra Ordinance, 1104. ·Received May 55, p. a.)
Ping Pong, May 24. We are telegraphing these lines from the heart of the conflict.
Someone just threw a cracker through the front door, and Gonoral low Kum nearly knocked his mug of beer over when it ex- ploded. The Japanese press refer to the matter as just an "incident". but it is incidents like these tant precipitate wars.
Propaganda is being intensively used by the Japanese, and there is not a brick in the Great Wall that does not carry'n poster advertising the Empire Fair at the Peninsula. It in omcially stated that a truee will be signed to-night.
Mah Jong, May 25. There is absolutely no founda- tion in the canard that truce was |signed last night.
This morning We General Pakapu, of
Interviewed the Chinese
Gin Sling, May 26. -A truce has been signed here. The object of the truce, it is understood,
16 to sweep the country clean of insurance agents, who are becoming a nuisance. These pests are invading the country in thousands, offering reduced pro siuma to combatants, because of the greater margin of safety.
We visited the Battle Front this afternoon and saw a Court Martial on a Japanese corporal and Chinese sergeant, who camo to: blows in public place set aside a battlefield, in a manner calculated to cause a breach of the peace. A sorious view is takon of cases like this,
45
This is an example of the petty growing fear that the usual fair They agree only on one point of a stable ratio between volume annoyances which are being in-scheduled for next August may)
of production and volume of flicted in Jewish tradesmen-ob-fail. And here again the fear of forces, and General Ocider, of the formed us that fighting would not that a drifting dollar furnishes credit, but this will not be an served during a visit to Gorman British rivalry arises because of Japanese Army. They both in-
cities and Leipzig. a city of the British Industries an additional powerful argument acceptable ideal until the general 800,000 is deeply concerned.
It London and Birmingham, hold be resumed until the League of
Bolivian dispute. in favour of unremitting efforts price level is much closer to that claims to be the greatest fur mar. Ing out to Jews a cheap market Nations and settled the Paraguay- to make the Conference a suc-which prevailed between
The League must act”, we were 1922 ket in all the world. The busi- because England is off the gold of standard, whereas Germany is not.
informed. The speaker added These business matters may or Buyers come from The view generally held and 1923. The second criticism acess is largely in the hands
is based upon the fallacy that the German Jews. by critics of the American ac-chief stimulus which follows all quarters of the globe to par may not have had something to do that the military authorities took tion is that it purposes to force upon depreciation of money is chase raw furs, and 90 per cent with conditions as I saw them in a grave view of the trouble in
of these buyers ure Jews. They Leipzig. There were comparative- South America.
"Wars have started before to- n general return to the gold that experienced by export in- spend millions for furs. They all ly few Nazi guards on the streets.
dustries. But in all countries, the hotels and restaurants, But Not so many swastika banners day through the same cause," he
added significantly. standard, whether or not con- the volume of internal business they are now staying away, not were being flaunted, but the petty ditions are ripe. They scem greatly exceeds exports and im- because of any deliberato boycott, annoyances and display of proju- to be answered, to some extent, ports. By an increase in in-but because of the fear of insult dices were not lucking. The Nazla would got permit Bruno Walter by the conversations initiated at ternal prices, profits are reator-and mistreatment.
London has always disputed to conduct his usual season's con- ed to industry, unemployment is Washington seeking the stabili-reduced and a more satisfactory Leipzig's claim to being the great-cort. Ho has been lionized for the
(Continued on Page 11.) sation of the pound, the dollar relationship is established be cat fur market, and Leipzig now past four years when he conducted
fears that its former lucrative furl and the yen prior to June 12, tween debt and earning power. the opening day of the Confer-It is this strengthening of the internal financial and economic ence. It has, however, to be structure which carries hope of admitted that the situation is a general benefit. A rise in pri- atill obscure. The tendency of ces in the United States could not commodity prices in the United fail to have a favourable effect
elsewhere. States to soar, immediately fol- lowing the inflation reports, has [been stayed. Prices are, in fact, receding and the benefits of the abandonment of gold are still problematical and are likely to
One of the most important remain so until the Economic developments of the current prove to Conference begins to show re-year may eventually
have been the discovery of a sults. It illustrates once more, new gold field in South Africa. if further illustration were re-This field is believed to have a quired, that independent action capacity of about one-eighth of can achieve little towards the the world's present gold produc- tion, and if its yield comes up to restoration of prosperity. A advance estimates it could have real world effort, with all nations a profound-and welcome-ef- atriving in the same way for the fect on the world business de- sume goal; is the primo essential, pression. It is common know- ledge that the great depression Nevertheless, it would be foolish of the '90s was overcome in large to deny that the results of the part by the now supplies of gold steps taken by President Roose which poured into the world market from Alaska, from velt do not offer encouragement South Africa and from an inven- to the nations soon to assemble tion which increased the effl- in London. At the time when clency of the process of ex- the agenda for the Economic tracting gold from ore. If the same sort of thing should hap- Conference was being worked pen again, we might find many out, the forces which were mak- of our present difficulties dis- ing for further economic dis-solving almost without warning. A harassed and sorely-tried integration still held away world hopes that this possibility With the downward movement may speedily become a reality.
"Is it my fault your life is monotonous? Can I help it
that we're living in an unromantic ago?"
Nanceking, May 26.
The report in the local news- papers that a truce has boon sign- ed is false. So is the report that the aid of Sir Miles Lampson bas been sought.
What happened is that both the Generals approached us, and re- quested us to put forward a basis for the sattlemont of the dispute. We made the following commendations: (1) That the price of baur be reduced to fifty cents (2) That we have a drink (8) That we have another. There is a distinct possibility that our recommendations will be adopted.
STOP PRESS
Inky Pinky, To-day. In the Min- gistrato's Court this morning the rival army lenders, charged with committing a breach of the peaco, were bound over to be of good be- havlour for twelve months.