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ANE, CRAWFORD, LTD.
Phone: 2815).
THE HONGKONG. TELEGRAPH.
THE
TUESDAY, JUNE 13, 1933,
instead of master? And if so, how? In ab far as an erg, or even a Joule, is a measure of value, it remains-money, While we have anything to ex- change, wo have to have a med- jum of exchange-again, money.
VAUXHALL The barter establishments dotted
SYNCHRO-MESH
FAULTLESS. GEAR.
CHANGING
NOW .
BEING DEMONSTRATED AT OUR SHOWROOMS
HONGKONG HOTEL GARAGE
Stubbs Road.
The
Phone 23124.
WORLD CRISIS
ритрове.
IV: TASK FOR THE WORLD' ECONÒMIC CONFERENCE
The Very Idea!
THE UNFAIR SEX
By Mrs. Edward Kolly's Husband IT has taken us exactly five years to find out that if married life is to succeed, there must be a lot of give. and take. You give and she takes.
We never knew what hap- piness was until we were married. Then it was too late.
capacity for
is enormous, and is multiply-lor lives like a gentleman and industry at its full capacity. As an gentleman. illustration; in 1918, after 4 years of destruction, we heard the ery "the shelves of the world are empty". In- motion, with dustrial plant was not in half man-power, and before the end of 1920, there was a glut
Hongkong Telegraphi.vising our idens of fluence over affairs within their
about the United States may do
BY FREDERICK COPE, A.M.L.EE. without visible money, but the
(This is the fourth of a series of life, we will now make an attempt to idea remains. It is even the very timely articles upon the world rials neo sxactly what letter it And which the Economic Conference has Economic Conferenco. In brief, It basis of the transaction.
been called to combat, by a local con- the fact that our economic system is gradually coming to a stop, due to it is paradoxically true that attributor).
They have to find Preceding observations have some basic fault the precise moment money has taken the bit between its teeth given a rough outling of our present this fault; remove it, and let the inancial system, and of what inconomie system get in full swing and bolted, there are more goods meant by goods and services. It has again.
"An economic system, we will say, Is. to be exchanged, and therefore been shown that in the beginning ideal when it permits of the maximum
We are what you could call à & greater need for a rellahin goods and services were the first, human development, and human hap- |
and only, consideration.
piness, one which will permit of the married martyr. A martyr, in Production, and exchange of maximum satisfaction of our physical caso you don't know it, is one. medium of exchange, than ever before in the known history of goods, proceeded without the use of needs.
money. Money was introduced. to On this premise, there acems to be who is obliged to listen to one. Difference between a martyr the world. The trouble in fact facilitate the production and the nothing wrong with the production an-
our economic life. The and a bachelor is that a bache-
physical producing is not money, it is man's method exchange of goods and services, pect of of managing money. The a servant, as it were, to this male
dies like a dog. A married man world—indeed, nearly every in- But has Money maintained this have never yet worked modern lives like a dog and dies like a dividual in the world-is afraid position? Unfortunately, no. It of what money, or the lack of it, has long since overstepped its job, and usurped the position of its can do to him. The first thing, master, and to-day largely tyran then, is to get rid of the fear. nises the main purpose. It has taken upon itself a function which And having got the whip hand-was not probably thought of at it will be a new experience for the time of its introduction.
It was very early demonstrated him--man must then fasten a
that the convenience of money forms new set of reins and reharness enabled an accumulation of the
with the first clue. Was there a the runaway to its proper busi-right to possess Physical Wealth,
On our premise, there can be no auch ness of turning the wheels of and from this emerged its all im
portant attribute, ita power to con- thing as real over-production until prosperity. Obviously, it can be fer upon its owner a strong in every human physical need is satis We are yet a long way from that done. It may involve a drastic fluence on the affairs of the world. fled.
In proportion to the amount of overhauling of existing moncour possession, we each have a little position. What really happened was that the money system was satisfied, tary aystem. It may mean re-influence. Innumerable small com- and in relation to money, there was the way pany shareholders have their in a glut! This is our self-imposed limitation. Our present monoy sys- money is put into circulation sphere. Large shareholders and tem can only work successfully, when
The controllors the supply of goods is restricted. There may have to be new me-directors more so.
ins Clearly, we must look for the fault, even of of Combines may have their thods of bookkeeping, banking, so as to enable thefluence over many phases of econ- in our money system. It has been watchful is just a quixotic, foolish
shown, that our money is first a mea- omic policy.
sure for physical wealth; secondly, its possession in title to physical wealth, and in the third place, accumulated possessions is privilege and influence
TUESDAY, JUNE 13, 1933.
MONEY AND THE CONFERENCE Undoubtedly the biggest task
consumc.
on human
It seems that we had produced more goods than were required. Now this is a point which will have to be examined closely, because it, provides
glut?
world affairs.
THIRD PROPERTY OF MONEY.
to
Our Honrlet- ta is like that.
Once upon tim.c KV 0 thought that ahe was the greatest little girl in greatest little world in the world, and wo fell so hard for
the
her that we were bruised all over. But she's no longer little In fact, to get more curves a man would have to marry the Repulse Bay rond.
We will admit that marriage gives a man that companionship he wishes for, unless his wife is watchful. But a wife who isn't
dream.
Take Poto's wife, for instance, She used to be a telephone opera- tor, and the first thing she did was
Pete
to At the peak of this power, we impotently eager consumer
All these are matters have the ultra-financier, at whose
not decision, based
to give him the wrong number. for the monetary expert. The needs, but on money considera
They were twin girls. job of the man in the street is tlons only, banks open or close,
railways operate or are shut down, It is this third property of Money, called them the two disasterecs. to make crystal clear the goal factories produce goods or they in the last analysis, which will pro
Pete and us are alike in one he intends should be reached. do not. The power we have conbably prove to be as fault. If it is! before the World Economic Con-
He must say unmistakably that ceded to money, makes the pos here, then we have a most difficult respect. The only place you'll find
sessors of large quantities virtual job is third property of Money Is tionary.
face.
peace in our homes is in the die- ference is the devising of a com- money's only legitimate func-ly the controllers of the destinies
This rooted in our everyday life. Our Women are what cause it. It mon plan for increasing the
tion is to insure that there shall of peoples,
Americans invest money in Ger- forefathers know it and handed down doesn't matter whether you're
the fruits this generation. Wo circulation of money by a more no longer be poverty in the midst!
many and, consequently, have their liberal credit policy and thereby of plenty, and that the idle influence in degree on the economic have known it all our lives and it is married or single, there's always a woman at the bottom of things. expressed in our personal make-up.
Its roots run in all directions, and In Hongkong, so long as you assisting towards the restora- wheels of silent machines tall life of the Germans. A German
кув- tion of higher commodity prices. whir busily to produce the goods likewise invests in South America.a serious operation will be necessary have a motor car and plenty for
An Englishman in France, and so to get them out of our economic of which countless people stand on. Such is the power of money, tem, so much so that it is likely that cash, you'll find, that a fool and
his money are soon patted. the World at large will be tempted to in stark need. The goods are which is given to it by popular opin-wait until the very last moment be We once know a man who, after his particular gold digger cleaned. there; the demand is there; only
him out, stole a thousand bucks the connecting link is missirg.
got that she put the police on to him. Imagine his embezzlement.
There's only one way to treat women. Treat 'am rough. The
Holidays for Wives
Too much emphasis cannot, however, be laid upon the fact that credit facilities will not achieve the purpose of raising price levels unless a demand for credit is created and the most obvious methods of producing The world has always leaned this demand are such plans as toward a dramatisation of its those advocated by Mr. J. M. problems. Humanity likes to set Keynes and President Roosevelt up lay figures to represent, some class or section to which its at- for great undertakings in public tention has been drawn. So we expenditure. The difficulties in have the man with the hoe, the this connexion are the dangers man in the street, the unknown of causing a deterioration of soldier and, more lately, the for-
fon.
་་
To that wining the operation.
Let us
MONEY TALKS.
though it might be to In the vernacular of a certain part admit it, there is of England there is a saying "Money it is this third y indication that from his employer. And when she talks; it speaks all languages, and which is at fau property of Money knows all religions."
a rough analogy to attempt But money has not of itself sub- stantial value, withdraw confidence, give an illustration of the working of
the present System. and its value vanishes. At one period A former possesses a piece of land. rougher the better. But you've a German Mark would buy goods. On this land he employs 100 men, got to use system. no goods could be obtained in ex-Both are existence. The farmer Johnny Walker. One whisky and it was worthless, and farmer and men depend on this The best system is a bottle of no.goods change investments are
commences-to-grow-produce. To
we answer the-wife back. Two Foreign
only of R
each man, for each 50 hours labour, worth, as long as there is a reasonably have paper note entitling him whiskies and we're ready to fight. contented people in that country.
of produce. The pro- Three whiskies and alcohol her With the discontent arising from
to one ped
and purchase
measures bluft. continual unemployment In every are available. The men
40,- country in the world, money is in 000 measures with their paper notes. cheap sex literature like "Things
Why waste your money on danger of losing its one and only Thon 10,000 measures are left over Every Young Man should Know" support-Confidence.
for the farmer, out of which he has
or "Married Love." Take advan- Physical Wealth is of real utility to live and provide seed for the auc
It is busi tage of our stupendous offer,
and all would be well. repeated, and
conditions) a magnificent, superia- vanished, physical wealth will still be men, the process
We will now assume the balance tive, colossal, breath-taking copy THE TASK FOR THE ECONOMIC to be upset. The farmer employs of our book "Let's Colibate.
CONFERENCE.
methods by which ho can dispense
Tako no notice of books offered to Having skimmed through a few of with 50 men. The crop is reaped, and
(Continued on Page 7) you on the same subject by other the aspects affecting our
newspapers.
duco is
governmental credit. In fact, gotten man. It has remained i valuo; it has substance. We can live ceeding crop. Providing farmer and Every reader of this column can on it, but not on money. When the
money has neas proposition for both farmently receive free of all charge (see
As a
no matter from what angle the for Sweden to call attention to a group that is wider than any problems of the Conference are
yet covered by a lay figure; a approached, the student is thrust
group that stands behind all the back upon the close relationship four mentioned above, that has between the value of Money and suffered the stress of all these public confidence, and the wenk-classes without any of the pub- nesses of the monetary system licity they have been accorded. are exposed. Money, the his-Thero has been a word of tribute now and then, but for the most tory of which has been interest-part a wide and deep silence. The ingly described by Mr. Cope in General Swedish Electric Com- the articles he has been writing pany on the occasion of its fif- for the Telegraph, has come tieth anniversary announces under criticism from all quar- that it has set aside a fund of ters. As a medium of exchange, $100,000 to provide vacations | it appears to be on strike, or, at for the wives of small salaried employees of the company. In least, playing ca' canny.
taking this step the Swedish con- measure of value it is this to- cern decided that those who day and that to-morrow. Its work behind the scenes, bene- circulation is sluggish; it hides fiting the company indirectly by its seriously diminished head in looking after the men, were most in need of consideration.. It was bank vaults and balances, in found that wives seldom had Irredeemable securities and re-time for a complete rest. Some- fuses to come out, coax men ne- one should outline a figure to re-i
ver 80
coaxingly. Not infre- present the woman behind the quently, it vanishes in a night-factory whistle, whose work be dissipated forever, whether as a gins long before the workers take their places at machine.or medium of exchange or a men-
bench, and continues long after sure of value. In brief, money spindle and lathe are silent; has got out of hand. What is to whose work year runs into 366 bo dono about it? Ought we to days, who is the first one to feel throw-can we throw money the pinch when work falls, and pick- on the dump heap and adopt the the last one to bonent by a technocratic "erg" or "joulo" up. Should such a figure be drawn in its proper scale, it instead? Or ought we to put would perhaps make pygmies of money in its place as servant
the four already mentioned,
present day basis of
there,
economic
"We want the public to know the roally big things our little organization is doing. Only In st wool wo voted to stamp out
the bootles
Simply cut out the coupon, sign your name and address, and pro vided that you don't forget to post the letter, the book will be posted to you, under plain cover, it wo don't forget to post it."
The only condition is that a $10 note must be pinned to each cou- pon. Any number of coupons over a hundred may be sent.
DON'T DELAY. WRITE TO- DAY. Hot chal
SPEAKING OF RACES
It's a pity there's no horses in Hongkong. Otherwise we could work this one in as a local. Any-. way,
what's A horse bothvoon frionda.
ACT 1. SCENE 1, SCENE-A Metropolitan Police Station. A 'phone is heard ring- ing violently, and a hored Bergeant picks up the receiver.
Sergt: Hello...
Voice (excitedly): I've just backed a horno
Bergt (wearily): Wrong number, ring off.
He puts the receiver down. Two minutes pass. The 'phone rings. ngain.
Bergt: Hello.
just backed a horse and...
Samo Volce (urgently): I've
o
Sergt. (snarling slightly): Wrong number. Ring of S
He puts the receiver down. Two minutes pass. Phono rings again.. Bergt. (Viciously): Hello, sred Volce (hysterically); Fortkeluv ofmike lissen. Tve just backed a horse.and.cart into a window at": (CURTAIN):