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L
THE HONGKONG TELEGRAPH.
THE
TUESDAY, JUNE 13, 1933.
Instead of master? And if so, how? In so far as an org, or of even a joule, is a mensure valuo, it remains-money. While we have anything to ex- change, we have to have a med- ium 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
WORLD
IV:
CRISIS The Very Idea!
TASK FOR THE WORLD. ECONOMIC CONFERENCE
BY FREDERICK COPE, A.M.LE.E.
THE UNFAIR SEX
By Mrs. Edward Kolly's Hutband IT has taken us exactly five years to find out that if about the United States may do
married life is to succeed, without visible money, but the
(This is the fourth of a sories of life, we will now make an attempt to there must be a lot of give iden remains. It is even the very timely articles upon the world crisis see exactly what is in front of the and take. You give and she basis of the transaction. And which the Economia Conference, has Economic Conference. In brief, it is
been called to combat, by a local con- the fact that our economic system is takes. it is paradoxically true that attributor).
gradually coming to a stop, duo to Preceding observations have some bašle fault." They have to find the precise moment money has taken the bit between its teeth given a rough outline of our present this fault; romove-it, and let the inancial system, and of what is economic system got 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 a a greater need for a reliable goods and services were the first, human development, and haman hap-
pluess, ono which will permit of the married martyr. A martyr, in Production, and exchange of maximum satisfaction of our physical case you don't know it, is one goods, proceeded without the use of needs.
who is obliged to liston to one. On this promise, there seems to be money. Money was introduced to facilitate the production and the nothing wrong with the production as-
Difference between a martyr life. The and a bachelor is that a bache- exchange of goods and services, pect of our economic
capacity for
producing physical lor lives like a gentleman and
medium of exchange, than ever before in the known history of the world. The trouble in fact is not money, it is man's method of managing world indeed, nearly every dividual in the world-s afraid
and only, consideration.
We never know what hap- piness was until we were married. Then it was too late.
money. The a servant, as it were, to this main wealth is enormous, and is multiply dies like a dog. A married man
in-
purpose.
But has Money maintained 'this position? Unfortunately, no. It
ing
We have never yet worked modern lives like a dog and dies like «'
at its full capacity. As an gentleman.
of what money, or the lack of it. has long since overstepped its job, try in 1918, after 4 years of
Our Henriat-
ta is like that.. Once upon a timo W t thought that she was the greatest little girl in the greatest little. world in the world, and we fell so hard for
and usurped the position of its destruction, we heard the cry "the can do to him. The first thing, master, and to-day largely tyran- shelves of the world are empty". In then, is to get rid of the fear. nises the main purpose. It has dustrial plant was ect in motion, with And having got the whip hand taken upon itself a function which half man-power, and before the end
was not probably thought of at of 1920, there was a glut.
It seems that we had produced it will be a new experience for the time of its Introduction.
It was very early demonstrated this is a point which will have to bo more goods than were required. Now Phone 23124. him-man must then fasten a
that the convenience of money forms examined closely, because it provides new set of reins and reharness enabled an accumulation of the us with the first clue. Was there a the runaway to its proper busi- right to possess Physical Wealth, glot?
On our premise, there can be no such 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
fled. done. It may involve a drastic fluence on the affairs of the world.
We are yet a long way from that In proportion to the amount of position. What really happened was overhauling of existing mone; our possession, we each have a little that the money system was satisfied, tary system. It may mean re- influence. Innumerable small com- and in relation to money, there was would have to marry the Repulso
Hongkong Telegraph. vising our ideas of the way pany shareholders have their in-a glut! This is our self-imposed
TUESDAY, JUNE 18, 1932.
MONEY AND THE
CONFERENCE Undoubtedly the biggest task before the World Economic Con-
''to
for the monetary expert. The job of the man in the street is to make crystal clear the goal he intends should be reached. He must say unmistakably that
in world affairs,
mca-
THIRD PROPERTY OF MONEY.
1. Is this third property of Money,
in the lust analysis, which will pro bably prove to be at fault. If it is here, then we have a most difficult
ference is the devising of a com- \money's only legitimate func-sessors of large quantities virtual job to face.
her that we were brulsed all over. But she's no longer. little. In fact, to get more curves a man
Bay rond.
Wo will admit that marriage gives a man that companionship. he wishes for, unless his wife is. watchful. But a wife who isn't watchful is just a quixotle, foolish dream.
Tako Poto's wife, for instance..
She used to be a telephone opera- tor, and the first thing she did was to give him the wrong number.
They were twin girls.. Pote: called them the two disasterees.
their limitation. Our present money is put into circulation.fluence over affairs within
sphere. Largo shareholders and tem can only work successfully, when when is restricted. goods There may have to be new me-directors more so. The controllers the
Claply
we must look for the fault, thods of bookkeeping, even of of Combines may have their in-
fluence over many phases of econ-in. our money system. It has been banking, so as to enable the omic policy.
shown, that our money is first i impotently eager consumer At the peak of this power, wo sure for physical wealth; secondly, Its possession is title to physical wealth, All these are matters have the ultra-financier, at whose and in the third place, accumulated consume.
decision, based not on human needs, but on money considera. Possessions is privilege and influence tions only, banks open or close, railways operato or are shut down, factories produce goods or they
Peto and us are alike in one. do not. The power we have con- ceded to money, makes the pos
respect. The only place you'll find. peace in our homes is in the dic- This third property of Money ly the controllers of the destinies
is tionary. mon plan for increasing the tion is to insure that there shall of peoples.
rooted in our everyday life. Our Women are what cause it. It Americans invest money in Gar- forefathers know it and handed down doesn't matter whether you're. circulation of money by a more no longer be poverty in the midst
many and, consequently, have their the fruits to this generation. Wo 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. run in all directions, and In Hongkong, so long as you' assisting towards the restora- wheels of silent machines shall life of the Germans. A Germants roots run in all directio 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 zar and planty for
An Englishman in France, and so to get them out of our economic sy Too much emphasis
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 foot and in stark need: The goods are which is given to it by popular opin- the World at large will be tempted to his money are soon petted, however, be laid upon the fact there; the demand is there; only That credit facilities will not the connecting link is missing. achieve the purpose of raising |- price levels unless a demand for credit is created and the most obvious methods of producing
cannot,
Holidays for Wives.
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
lon.
MONEY TALKS.
In the vernacular of a certain part of England there is a suylog "Money talks; it speaks all languages, and knows all religions."
to
wait until the very last moment be- fore undertaking the operation. admit it, there is
Unpleasant though it might be at it, there is every indication that property of Money
which is at fault.
Let us
attempt a
a rough analogy to give An illustration of the working of confidence, the present Systom.
We once know a man who, after his particular gold digger cleaned. him out, stole a thousand bucks. from his employer. And when she got that she put the police on to him. Imagino his embezzlement.
There's only one way to treat. women. Treat 'em rough. The
Keynes and President Roosevelt up lay figures to represent some worth, as long as there is a reasonably he gives a paper note him whiskles and we're ready-to-fight.
for great undertakings in public class or section to which its at- 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- governmental credit. In fact, gotten man. It has remained no matter from what angle the for Sweden to call attention to problems of the Conference are a group that is wider than any approached, the student is thrust yet covered by a lay figure; a 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 weak-classes without any of the pub- nesses of the monetary system licity they have been accorded. are exposed.. Money, the his-There has been a word of tribute tory of which has been interest-now and then, but for the most part a wide and deep silence. The ingly described by Mr. Cope in General Swedish Electric Com- the articles ho 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 striko, or, at for the wives of small salaried
employees of the company.
In least, playing ca' canny. As a
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 aluggish; it hides fiting the company indirectly by its seriously diminished head in looking after the men, were most bank vaults and balances, in in need of consideration. It was 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- ver so coaxingly. Not infre- prosent the woman behind the quently, it vanishes in a night-factory whistle, whose work be dissipated forevor whether as a gins long before the workers medium of exchange or a mea- take their places, at machine or bench, and continues long after sure of value. In brief, money spindle and latho are silent; has got out of hand. What is to whose work year runs into 805 be done about it? Ought we to daya, who is the first one to feel throw-can we throw money the pinch when work fails, and on the dump heap and adopt the the last one to beneût by a pick- technocratic "erg" or "joule" up. Should such a Oguro be drawn in its proper scale, it instead? Or ought wo to put would perhaps make.pygmies of money in its place as servant the four already mentioned,
But money has not of itself sub- stantial value, withdraw and its value vanishes. At ona period a German Mark would buy goods, A farmer possesses a piece of land, rougher the better. But you've. One year later, it was worthless, and on this land he employs 100 nien. got to use system.
Both. farmer and men dopend on this no goods could be obtained in ex-land for their existence. The farmer
The best system is a bottle of change,
Foreign investments are only of commences to grow produce. To Johnny Walker. One whisky and
each man,
for cach 50 hours labour, we answer the wife' back.. Two contented people in that country.
pro Three whiskies and alcohol hor continual unemployment in every
With the discontent arising from to one measure of
duca is reaped, and K0,000 measures bluff. country in the world, money,
aro available. The men purchase 40,- is in
Why wasto your money danger of losing its one and 000 measures with their paper notes.
only support Confidence.
Then 10,000 measures are left over Every Young Man should Know" over cheap sex literature like "Things which he has Physical Wealth is of real. utility for the farmer, out of value; it has substance. We can live to live and provide seed for the auc-or "Married Love." Take advan- on it, but not en money. When the ceeding crep. Providing it is a busi-, tage of our stupendous offer. has ness proposition for both farmer and Every reader of this column. can present day basis of money
repeated, and all would bo well. vanished, physical wealth will still be men, the process would be constantly receive free of all charge (Hea THE TASK FOR THE ECONOMIC
there.
CONFERENCE. Having akimmed through a fow of economic the aspects affecting`our
:
want the publié organization "is doing: :
on
We will now assume the balance Conditions) a magnificent, auperla toe upset. The arm er ploys tive, colossal, breath-taking copy methods by which he can dispense of our book "Let's Collbato,”. with 50 men. The crop is reaped, and Tako no notice of books offered to (Continued on Page 10.) you, on the same subject by other
newspapers.
know the really big things our-little. Only la at week we voted to stamp out the bootleg
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 bo.posted. to you, under plain cover, if we 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 chaij
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 between. friends.
ACT 1 SCENE 1, SCENE. A Metropolitan Police Station. A phone is hoard ring- ing violently, and a bored sergeant picks up the receiver.
Bergt: Hello,
'Voice (excitedly): I've just backed a hor88)...)
Sergt (wearily): Wrong number, ring off.:
He puts the receiver down. Two minutes pass. The 'phone rings againg
Sert: Hello.
Same Volce (urgently): I've 'just backed; a horse andikwa
Bergt. (snarling lightly)+ Wrong number. Ring of
He puts the receiver down," Two- minutos pasa. "Phone rings again,"
Sergt. (viatously) : Hello...AN Volce (hysterically) :: Fortheluv ofmike -lissen, I've just bäcked a horse and cart into a window^at.
(CURTAIN).
}