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THE HONGKONG TELEGRAPH.
NEW
MONDAY, JUNE 12, 1933.
It up were fully aware of the present crisis, and were prepar- ed to lay asido nationalistic pride and rivalry with a view to securing world prosperty. If the attitude which charactor- Ises the document can possibly
STUDEBAKER be maintained by the Govern-
'AND
ROCKNE SIX
CARS
AT
GREATLY REDUCED
PRICES.
HONGKONG HOTEL GARAGE.
-
Phono 23124,
Stubbs Road.
DEATH. KRONHAUG, MONRAD NIKOLAI, 20 years old, accond Engineer Rs. "Kronviken," died this morning at The French Hospital. Funeral will pass the Monument at 4 p.m.
to-day.
The
Hongkong Telegraph.
MONDAY, JUNE 12, 1933.
WORLD ECONOMIC, CONFERENCE
monts themselves, in spito of opposing political considera- tions, the success of the World Economic Conference is assur- cd.
TV-Soong-
WORLD CRISIS
III: A UNIQUE SITUATION FROM WHICH THERE IS. NO ESCAPE
BY FREDERICK COPE, AM.I.EE.'
The Very Idea!
A DOCTOR WHO TELLS By Eddie Kelly, Quack,
SALLOW faced and flat
chested, we stand forth as, the representative of those people who cannot, and don't want to be healthy,
Doctors may be alright in their places, such as cur-
(This is the third of a series ofį out of sixty on the real gold standard, timely articles upon current industrial, and economic chaos is the rule, monetary and economio problems by a
PHYSICAL WEALTH. local contributor.)
We will now turn to this aspect of All that has been said so for the economie question--the aspect of is very well for internal trade, Physical Wealth. What has happening chilblains and amassing
Let us but when foreign trade is con- ed in this Geld?
make a large fortunes for them fundamental examination of this sidered a different set of cir-
selves, but let them leave us question. For the purpose of this A paper article, in the first place, we will de-alone. cumstances appear.
We are proud of our ill-health.' instrument is again called into ane Physical Wealth as the result of
Material plus Energy. Erery com
Every time we cough, people play, termed a bill or draft.
In normal times, Mr. Bull of Lon-modity possesses these components.
Muscular energy was employed be- whisper about our chest, and don, in order to pay for goods in New fore the Maching Age. A man tilled sympathise with UB. Why York, pays sterling in London for a dollar draft. For the reverso pur- the soil with his own energy with should we be foully done out of poses, Mr. Samuel in New York would the assistance of the energy of horses pay dollars for a sterling draft on London
or oxen. Material plus Energy ro-a complaint we have had for sulted in Crops. These were reaped years?
for and transported by Energy In London the dollar selling is set ultimate usc. Our houses; roads, off against the dollar buying. In New motor-cars are all the products of York the sterling selling is act of material and energy in seine form. against the sterling buying, I the
Mr. T. V. Soong has had a wonderful reception in London, where he will be China's chief representative at the World and Economic Conference, where, at the same time, he may do much to cement Anglo- Chinese relations. Mr. Soong has been Finance Minister of Chinese governments, first at Canton and then at Nanking. since 1925, and is regarded as the foremost Chinese financier of his generation. But he has trado is equal the draft account would the invention of machinery, pro-
balanco.
can
use;
If
In Hongkong, we are aware that at one perlod £1 sterling cost $4, and at another it costs $22. In other words, we may say that if a package of tea in Britain is priced in terms of gold £1. the price in Hongkong dollars for the tea has ranged from $4 to $22. This brings us to the price.system.
PRICE SYSTEM,
the article makes present day money
o!
Take dentists, too. They've often got a nerve the way they want to fool around with drills, and pyrohhea and other dental term,
too
Difference between us and a lot of other doctors is that we're game to admit it. MONDAY, Juno 5. Called
OD
From the early times up to the time duction of goods steadily increased become more than a financial
If the amount of drafts on New and man gradually became wealthier. genius in China: he has become York exceeds those on London then From the time, of Watt's Steans the standard bearer of enlighten the Now York Banker is offered mere Engine, when mechanical energy be ed Chinese progressivism, fight pounds than he wants or
the rate of progress was energy ing intrenched feudallem, slowly consequently, he will only buy the ex-xan to be substituted for muscular
COBS sterling
discount. In normal at
quickened and over the last twenty pushing back the guerrilla mili- times, this is one of the causes of the years the rate of progress has been tary incubus which has grown variation in the rate of exchango,
phenomenal, so much so that it has out of feudalism, and attempt the balance becomes too large gold outrun our ability to utilise and take
advantage of it. ing to develop a genuine patriot-shipments have to be made.
The Rate of Exchange in the rate We have now arrived at the ism and concern for public which the currency of one country paradoxical or inane stage of having welfare in a country where the will exchange for that of another. In produced a large supply of almost
Doctors and dontists are family's interests always have a condition in which a number of every conceivable commodity, and
eager with their needles and things. stood above those of the nation. countries are off the gold standard the only purpose our imagination can
Things were different whon wo silver End for it is destruction." He has steadily enhanced both and a few countries are on a
the rate of exchange is a very baals,
Commodities which at one time re- were a doctor. We would have power and reputation. In China variable factor, and one which is very quired, large amount of human still been one, only the B.M.A. he is regarded generally as the obstructive to trade.
effort are now mostly produced by found us out.
You've all heard of the "Diary mechanical energy. country's outstanding states-
The starting fact of the day is of a Doctor who Tolls". Well, we' man, a skilful diplomat in the
that we are increasing production and re going to give you the "Diary realm either of Chinese or of
decreasing labour at the same time. of a Doctor Who Doesn't Tell- Western politics. A solution of
The longer wo go, the more emphasiz Because He Can't". the Chinese "problem" has be-
ed this will become, until only a come distinctly more important
fraction of human labour will be re- quired. To those who have embraced to the world at large during the
the idea as a moral law, that last two years than it has ever
Man, in order to justify himself béen before. Japan has ended
The package of tea has not altered must give a considerable amount of by intervention
the period in real value, it is just the same time cach day to the production of Mrs. Brown this morning. Told affects our arms and legs and during which the outside world This enormous discrepancy between physical wealth, the position must her all about our lumbago; how it had already to wait patiently the real value and the money value of present a serious state of affairs.
The facility of production, pre- keeps us awake at night with the
The atmosphere on the eve of order from her own chaos, and
for China's leaders to restore appear to be a doubtful measure of ponderance of goods, the shifting of pain. She advised us to suck a raw to lemon and drink plenty of gin every the burden of work from Man the opening of the World Econo- the outcome of the undeclared A very desirable quality of good machine, are phases, or fat sorrows, morning. mic Conference is altogether Sino-Japanese war is not yet mosey is "Stability of Purchasing by which, in the future, we shall be
Power" We certainly like to feel relentlessly pursued.
TUESDAY, June 6.-Mr. Taipan favourable. A sort of hopeful clear. Nor is it clear whether that the money in our pocket will buy the Chinese and Japanese can tho same article or obtain for us the
came to see us this morning. Ho pessimism rather than of confid-settle their quarrel without samo service to-day, next yearance It is not possible in this article to has lived well all his life, has a and craving for alcoholic stimulants and Nations, have dragging in
other reluctant twenty years hence, making allowance refer to the innumerable facts
for the fall in costs, due to improved indications, but amongst others we a bad liver. As he always pays the been too busy devising bargain- nations, or whether Chinese productive methods, when it should will take one or two quoted in a re-shroff at the end of the month, it ing weapons to justify the belief factions can agree sufficiently buy more.
cent article by Howard Scott, make It is evident that the present money An artificial silk mill will soon be doesn't pay us to be rude to him. Wo examined him all over, slap- that comprehensive agreements among themselves to
agreement with system does not possess the virtue of in operation in the United States, will be easy of achievement, and possible an
times, and stoned-in" for five furthermore, the shadow of the help to clarify these uncertain- services can be efficiently measured
Japan. Mr. Soong's visit may "Stability of Purchasing Power" dispensing with all labour, except one ped his back, punched him several
Whether the value of goods and man on a switchboard.
In such a stable industry as flour minutes. "Never seen you fitter," said although we don't war debts question still hangs ties. As a practical financier, he and expressed in terms of gold or any nilling, during the last 30 years, wo over London, Until this has knows that continued friction other metal, leads us to one of the thres out of every four Mills have like the way your lag jumps. Why
burning questions of the day. It is closed down. One out of every five not have an X-ray?"
has been released. The
He asked "How much?"" Įbeen cleared away, the delegates between China and Japan is bad
held by some authorities to be the persons will be clearly working under a for business in both countries. crux of the present World Crisis. hours of the remainder have been re-when we said $50 he looked relieved
duced, and got a twenty por nossores very little utility value || As a professional statesman, he Gold
cont. and told us he expected it to be at. disadvantage, although too much understands that settlement of of itself. There is no close relation increase of production has doing th
the least $200;- the steel
Must remember to ask for more stress need not be placed upon the Sino-Japanese dispute is services. It is therefore argued that same period, labour decreased-hours
ship between gold and goods and this aspect at this moment. Pre- a matter of world concern. In gold money cannot provide good 70 man-hours per ton to 13 man-hours next time-still kicking ourself,
WEDNESDAY, June 7-Tried sident Roosevelt must declare London, far from the passionate rice system. But that is another per ton; in other words, to obtain the
sama production to-day 57 out of hard to persuade Robert MacWhir is every 70 himself, one way or another, this atmosphere naturally aroused by question.
ter to hava an operation for ap men are released. conflict in China, Mr. Soong may certainly an unreliable instrument.
The present monetary system
In the motor cur
Man-hours we do). Remembering yesterday's weck, and it is hardly to be sup be able to talk through with It fa dolientely poised and soon thrown has decreased from stry, labour pendicitis (He doesn't need it, but
nd within a short posed that he will jeopardise Japanese and disinterested out of
make gear. To
matters per vehicle to 92, and,
experience we asked for $250. of ten years from 813 Man-MacWhirter dropped in a faint, and what prospects of success exists statesmen a formula for setting worse, the war debts and reparation hours to 92 Man-hours. The rate of Mach half a bottle of whisky to by adamant insistence ΟΣ full payment of the June instalment. the entire world's anxiety.
ence prevails.
value.
1
TECHNOCRACY.
the dispute which has aroused of the Great War were unduly loaded hours to
to the system which previously progress was such that 212 men out
•
Makers of Music
Wonder if there is anything in these grandmother remedies?
and
was scarcely strong enough to deal of every 813 employed are now re-revive him.
THURSDAY, June 8.--Young with the rapid expansion of Commerce leased, and the same work accomplish-
more Henry, Havafling rang us up this and Industry. It almost looks now ed. In 1999, four million
made. With 85 morning, and spoke rather nervous- as if the last straw has been placed motor
reillion less Man-hours than were usedly over the 'phone. He is coming upon the camel's back.
This is patent to-day when there are in 1919,
(Continued on Page 7.)
Leaving this on one side, there- fore, to examine the agenda for the Conference, wo find. that it
"Musić should be, and ought to deals both with financial and economic questions in detail. It be, the greatest of popular not more than three or four countries offers a broad plan for the re-arts." You will not find this quoted in any biography of storation of prices and the resus- Beethoven. Neither is it includ- citation of world trade. The ed in any obiter dicta of Kreister, official representatives of those Mary Garden, or Paul Whiteman. governments which participated The author of "A. Defence of In the formulation of the pro-Philosophic Doubt" said it. The gramma have commented upon speaker was Lord Balfour, one the scope of their plan in the time Britain's Prime Minister, at the 1909 Royal National Eistedd- following words: "It will not, infod of Wales on a subject always our jugdment, be possible to close to his heart-the democra- make progress by piecemeal tic nature of music. This inter- measures. A policy of 'nib-eating sidelight on the diplomat-
will bling'
not solve theist and delver into philosophy, crisis. We believe that the narrated entertainingly in the London Musical Opinion, leads Governments of the world the reader to sober reflection on must make up their minds to a the decline of music "made in broad solution' by concerted ac- the home." Aside from the fact tion along the whole front. Ac- that, in Lord Balfour's early tion in the field of economic re-days the concertina enjoyed a certain vogue even in the salonis lations depends largely upon monetary and financial action of the elect, can his predilection be lightly laughed at even in this and vice versa.. Concerted mea-mechanistic age? Moderns whose musical accomplishment sures in both fields are essential gold
if progress.is to be made in rests in turning a knob might elther." The official position of well pause to ponder if the those who make this commont easily-won entertainment of the radio can ever equal the charm lends these forceful words pecu-evoked by individual attainments Har importance, and also sug within the family circle. The gests that the outcome may gramophone and the radio have Anally depend upon the weight their rightful place, but to those of expert opinion arrayed music lovers who discipline against political considerations. themselves to "make their own The agenda gives every indica music" in the home the world tion that the exports who drew owes more than it commonly
suspects.
cara wero
તેઓ
GROCERIES
ww MANGA
FUN LE
Go ahead and stop buying from us and see what in.
tough time you have finding real chop suey,"
over to see us at 7 to-night. We can guess what's wrong with him: Henry is a young man of 24 who spends too much time and money on the reckless side of life. If only all young men who live in the Far East would realise how those mishaps, they consider aa trifles and not worth worrying about, may. lead to ruptured lives and cause. even their sweethearts to turn away from them they would have it at- tended to at once. There is nothing- so disagreeable as hollotosis.—even your Best Friend won't tell you- so we think a prescription for a mouth wash and some Listerine will All the bill for Hory..
FRIDAY, June 9-Have not boen feeling at all well. Dovalop ed high fever early this morning, so- decided to visit one of these her- ballats. One cannot afford to take risks out In this part of the world.
POLICE HUMOUR.
It was seven o'clock in the morn-
Ing. It might have been a little earlier, when he came to the door and awakened the household with his knock.
"He was a policeman, a big game hunter to boot. He wanted to sea" the licences for the dogs' In the garden. The inmates had been out until four am. but what did that matter with the majesty of law concorned.";
What You don't see anythii funny In that? C7 „To be quite frank, with ines and myhrr, neither -
you must not blame us,
police humour" not, Kally
It just shown out what comes of reading Sexton Blako fiction «in your spare time.