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THE HONGKONG TELEGRAPH. THURSDAY, JUNE 22, 1933.
THE
tract supplies is not solely based RED RUSSIA'S 50,000,000
upon this score, however. It can
as easily be argued that, in the last. analysis, the method will defeat itself. In the measure that production is reduced, will
VAUXHALL new unemployment be created,
SYNCHRO-MESH
FAULTLESS GEAR
CHANGING
NOW
BEING DEMONSTRATED
AT OUR SHOWROOMS
HONGKONG HOTEL GARAGE
CHAU
FUNERAL.
t
|
CAPITALISTS!
By Dr. EDOUARD LUBOFF
The Very Idea!
́TEST IN PEACE
By Edward Kolly, R.L.P.
leasening the demand for the reduced production and requiring further drastic cuts in order to maintain the artificial price level. The position is the same precise, Financial capitalism-n form ly as with schemes for rationall- of capitalism despised and cari teroat of 10 per cent, on the face discovered, during his visit
catured by Socialista--is certainly value of their bond.
to Australia, a'spècie of an- sation. Rationalisation leads,
booming under the Red Flag. Ostensibly the money is to boimal known as the barracker. for all practical purposes, to the No less an authority than the used to finance the Second Five- same thing. It means that in-Pravda, the guardian of Com-Year Plan. Actually, another, at- Next time the English olever dustrialists organise with a view unist purity, actually boasts of tack is being made on the wages visits Australia there'll have to the growing strength of the of the workers, salaries of the om- to refraining from producing Individual bondholders. The ren ployees, and earnings of the be a different order of things. more than the market can ab-tier army in Russia, we are told peasants. Translated into simple Too much of a game is being sorb. It means reducing costs with every sign of approval and figures it means that between now made of cricket.
Jubilation, has, grown from elght and the end of the year earnings
WE have just seen tho The Soviet authorities are pro- | so-called "non-losing" bond, ovory published extracts from. posing to finance the second Five-holder of which muat in the course Larwood's book . on the Your Plan by internal loans. Tha of the next-fen years win a prizo; first issue of £300,000,000 nt par is about £20,000,000 is offered as Australian cricket tour. It already announced.
prizes. The other bonds carry appears that Mr. Larwood coupons entitling hulders to an in
millions.
and
ASPIRIN TEST Thrilling Contest of Loving Kindness.
WHEN
tion.
Advancing to the middle of the pitch and toss, the white-coated officials dropped the pin, which was heard distinctly from every cor- ner of the ground,
at every conceivable point, pass-millions in 1929 to forty millions in Russia will be reduced by at When the next series starts, ing beyond the mere employment in 1932. In other words, one out least one-twelfth-accepting the we may expect a cable some- of labour-saving and power of every four citizens of the average earnings at the highest, thing like this from Router: saving devices at works, thus Union of Soviet Socialist Ro- or 100 roubles a month,
publics in a financial capitalist, a The question of dumping is, of eliminating the need for human coupon cutter." And the latest courat, much more complicated to- labour, to embrace avoidance of loan is expected to swell the num- day, na most countries have been
themselves, the middleman. The purchasing ber by at least another tenanfeguarding
Soviet exports-have slumped tre- Let us, however, not: make the mendously. It is suggested, BRADMAN A DUCKY, power of all concerned in produc- tion and distribution is reduced mistake of accepting these boasts therefore, that the new loan is not
the umpires strolled Stubbs Road. Phone 23124. in the fanatical attempt, under at Moscow's own valuation. The so much an attempt at renewed
allently on to the grounds the present economic system, to rentiers are a fact, of course, but dumping as an attempt to hide nuither their origin, nor growth is from the people in Russia the
yesterday, the spectators waved reduce production costs. What any indication of prosperity or serious shortage of all kinds of la the inevitable result? It is even of ordinary normal well-commodities and to minimise, at their hands and let fly their cap- too obvious to require statement. being. Red capitalists are made least politically, the possible tive balloons in happy anticipa
by compulsion; they are the most effects of the expected famine. The method is akin to injecting unwilling-"coupon catters" in the
ÁRMY OF CAPITALISTS. In patient with the virus of his world, and millions of them would
prefer an immediate addition to Another suggestion is that the disease in an effort to cure him, their ration of bread or butter or new loan with its "all winners" if we agree that the cause of the meat to all the chances in the chances and high rate of interest economic crisis is a lack of pur-lattery loans or the guaranteed is intended to provide an exciting interlude to distract public at- the con- dividends on each bond.
The Soviet authorities have tention from serious problems and chasing power among suming classes. There is prob- certainly shown ingenuity in their deficiencies.
Whatever the real reason for ably a more fundamental cause, financial sharp practices. Their but investigation leads to a new internal loans are a clever dis-the new loan, it is clear that it is guise behind which the tragically neither intended nor is it neces- subject, the blind confusion small wages of Russia's workerssary for the purely domestic which prevents economists from are reduced still. further, thereby financing of the second plan, the name posted on the scoring-board accepting the fact that the curtailing their purchasing power moneys for which have already with rubber-shafted drawing pins.
people been estimated and carmarked.
It is, however, amusing to con- The English skipper was met at the to-day, is tottering. Financiers Soviet Chancellor of the Ex- template, that by the end of the gate by Mr. Woodfull, who present- ́ed him with a bouquet of pansies. Mr. sub- year Socialist Russia will have an have yet to learn that money is chequer compels them to
scribe to his loans and aces to it army of 50,000,000 people drawing Sutcliffe was given a bottle of scent- not a debt-creating agency. It that, the payments for the bonds dividends in the approved capital-ed hair oil, and took Mr. Oldfield's is not a commodity. Its true are deducted from their miserable ist style. place in human affairs is that of wages, a social mechanism for the order- ly production and distribution of goods and services. Until it is relegated to that position, no real progress can be made.
YUE TENG-Funeral to start from his residence No. 33, Seymour Road (Hongkong) at 10.30 a.m. on Sunday, the 25th June, 1933, stopping at Yat Pit Ting (Kennedy Town) for last rites at 12.30 p.m.
The
Thongkong Telegraph. Capitalist system, as we know it are fil-fed and fill-clothed, but the
and consumption. The
THURSDAY, JUND 22, 1033.
A SHOCK FOR THE
CONFERENCE
REASON FOR LOANS.
Muzzles or Vaccine ? period, Moscow was able to with-
Mr. Jardine had won the toss with
his rubber penny, and decided to bat. The Australians entered the field in three mourning coaches fitted with pneumatic tyres.
"D.B. Jardine, Esq." was the first
arm to the crease.
:
Mr. Woodfull then tossed the ping- pong ball to Mr. O'Reilly, not with-
HOW THE DEATH DUTIES out a certain amount of effort, as the
CRIPPLE INDUSTRY
BY RONALD STAPLES,
wind was fairly strong. In fact, at one stage the M.C.C. captain felb very much inclined to appeal against the wind.
After two overs, Mr. Butellite drów the leg umpire's attention to Mr. Oldfield, who, he saki, was broathing down his neck. Mr. Oldfield explain- ed that he was suffering from
A. set of typically parrot-like the world. There was no other effects of the death duties, not only on asthma, no the three shook hands, and
the same proceeded with Mr. Oldfield holding his breath and sucking B peppermint drop.
The rest of this palpitating story will be told in silence, owing to the fact that both teams are now sleep- ing after their strenuous day on the fold.
HUM-DINGER.
So far, the only repson for all internal loans the roubles have no value outside Russin-wo The Hon. Mr. Stanley Bruce,
dumping. By taking £580,000,000 Australia's principal representa-
In roubles from the people through, tive, is Hable to become highly
the compulsory loans issued in the course of the first Five-Year Plan unpopular in World Economic
EDITOR OF "TAXATION.” Conference quarters. His out-
draw goods to that amount from
Few people who are not directly look tends towards the practical |
home consumption to dump all over concerned can realise the devastating and that will hardly do. His
reason for these loans; the money those who are unfortunate enough to outspoken speech reported yes-answers was given by Mr. T. obtained is of no value outside, have to pay them, but on every form
of industrial activity. terday, describing as a terrible Megarry to questions by Sani- and is entirely unnecessary inside.
One or two examples of actual cases policy the suggested curtailment tary Board members concerning The workers and the peasants can will show how the present system: of
After three hours Mr. Jardino sue- the outbreak, or alleged out always be paid with roubles; excessive death dutica operates ceeded in scoring a single, and of the world's production of break, of rabies, and the official which can be printed as and when against the best interests of the State. messenger brought him 竊 noto almost every primary
The owner of an estate worth 200,- | from com- methods taken to deal with the desired, while all other supplies
an admirer in the grand- modity, represents a dangerous "menace." Onc analyses them aro owned and controlled by the 000 just after the war desired to make stand, thanking him and generally Government and can easily be provision for his widow to receive applauding his action. Mr. Jardino challenge; dangerous because it in vain for some sort of con- transferred from ono department not less than £20,000 on his death formally bowed his acknowledgment.
after the payment of a legacy aroused enthusiasm among dele.structive and practical thought to another without the use of cur- $10,000 to each of his four children. The afternoon-tea adjournment was gates of the smaller States and Muzzling and shooting dogs has rency as such.
Owing to the increase in the death taken in the field, Mr. Woodfull and been the system of the past, so Stalin could, of course, reduce duties in the meantime, however, the his charming men handing around the may lead to further attacks upon why should we try anything dif- the purchasing power of the widow would receive less than £14,000 ten and scones. the programmes of the vested ferent? That is, in effect, the people by ether and more direct if her husband died in the current
As darkness was setting in towards interests. Mr. Bruce softened Government's reply to Mr. Wong means, but this would reveal his year.
The mental burden on the industria- the end of play the chaperones for the blow by admitting that, for Kwong-tin and Dr. Li Shu-fan. weakness and might eventually
lead to his downfall, Loans, list who realises that he must make both teams came to the field, and immediate purposes, consent To Mr. Megarry it was suggested lotteries, and the bait of interest provision for death duty payments if stumps were drawn. might have to be given, but the that inoculation of dogs with are safer and more cortain in the Industry a paychological effect of the Anthem in the deaf and dumb langu during this lifetime has on While the band played the National greatest damage was already done. He anti-rabies vaccine, a distinctive long run.
Importance. The whole
age, the crowd reverently hold its mark to be worn to indicate they The new loan is being placed on pelley of his business may be cramped breath. had bluntly exposed the principal have been inoculated would be very attractive terms. Sub- and natural expansion retarded, to the weaknesses of the policies within better than muzzling and shoot- scribers are offered the choice of disadvantage of himself and his
(Continued on Page 0.): the contemplation of the most ing. No! Government did not two kinds of bonds. One is the powerful groups and if the secd think such treatment would be thus sown grows into revolt, the sufficient. The reason, if any, Conference may yet be compelled was conspicuous by its absence. Mr. Megarry admitted the ef- to face the raw realities of the fectiveness of vaccine; he ad- existing situation. Mr. Bruce'smitted that it was obtainable in conception of the world's needs the Colony. The professed con- may have sounded trifle cern of the Government is the strange coming from the repre- safety of human lives. If then sentative of a country which has the menace is as great as official- dom would have us bellovė, would raised its tariff walls to a height it not be reasonable to expect scarcely surpassed anywhere else action along the lines followed in the world, but it did not miss during the recent small-pox the truth of the situation. Rea-epidemic? Should not the Gov- triction of production finally ernment take measures to carry out anti-rabies treatment and means condemning all but the also be responsible for the in money-barons to a cheerless oculations? Owners existence because of a rigid in-naturally be required to pay for sistence upon existing artificial the vaccine, but Government |values and codes. The amazing should provide special facilities callousness to which the abstract for the treatment, bringing the cost within the range of the reasoning of financial experts
mafority of owners, and enabling can lead is shown by the regret the Government to keep a check of economists that "such vast on the animals treated. Mr. strides have been made by Megarry complains of the per- power-production during the sistent "surreptitious re-intro past twenty years that never duction" of the disease into the Colony. The remedy for, this, again will there be a sufficient we suggest, is to apply proper scarcity of goods to cause restrictions in the New Terri- Trosperity-breeding boom." The torles, from where, it is known, implication is that unless, there our present outbreak emanated. are people who do not know The danger is clearly from there where to turn for their next but apparently the Government pound of bread, there cannot be are going to ignore it just as they prefer tho.maudlin methods. profits for money-making circles. of muzzles and guns to humane The resistance to efforts to con- treatment,
1
would
"Should I lot my husband go ahead with this business
venture ?!!
Things should hum in football circles next season. We are not quito certain, on examining the pro- posed now rules, whether the new Council will be composed of twenty- two, twenty-six or thirty members. But 'twill be a goodly number.
We hear that ene prominent local footballer on reading the "proposed new League Tulas was found dis- traught, wandering about the railway track, talking to the little birdies.
Firat suspicion was that ho had been hit by a train; but he was later heard to be murmuring "And it only takes uinotoen people to fill up a British Cabinet,”
He also said something about "Ber- 'vice for Sorvica · men,”, but - it was thought that he was again, a trido light-headed.
FROM THE ECONOMIC F
FRONT.
Yes, my dear friends, you want to know what we have gathered horo together for, gathered hore from all. the ends of the earth. What are we about to do? You may well bake It
is the question wo have come her..
wa about
to
to decide. What are Let me tell you, gentlemen, the world We must do something cannot wait
if this world is not to sink into utter chaos, and I have, little doubt, little. doubt, at having faith in human in genuity"and" (sotto voce) banking XO- source, that we shall do it. It all be plain sailing if we see eye to eye. Gentlemen, wo must take steps and take them quickly." (Loud chests). *RDOLO{GA ADASU'SWIJ SZUBE PRB M GAT