HERE'S HEALTH!
IN A-
WHITBREAD
The tang of the open air makes. the Kentish hop flavour of Whitbread's Pale Ale exquisitely refreshing, A famous luxury world cruiser started her voyage with It is popular in all. ten thousand bottles in store. climates, and never changes in brilliance and tone.
WHITBREAD'S
PALE ALE
WE OFFER YOU A BARGAIN
RCA-VICTOR MODEL R-73
AN EIGHT -TUBE
SUPERHETERODYNE TABLE MODEL
WITH UP TO THE MINUTE FEATURES.
FULL SIZE DYNAMIC LOUDSPEAKER.
AUTOMATIC VOLUME CONTROL.
45° DIAL FOR EASY READING.
BIG SET RECEPTION.
Price $215.00 Not. Completely Installed and Serviced Free, of Charge for Three Months. GOVERNMENT RECEIVING LICENCE
PROVIDED WITH EACH SET PURCHASED IN JUNE.
S. MOUTRIE & CO., LTD.
York Building.
Kiddies'
Chater Road.
Jaeger
SWIMMING.
COSTUMES
With Caps to tone.
Made of particularly strong and durable British Materials. Just the thing for the children to romp and play in. No worry over split seams or de- fective stitches
Priced from
$5.00
CHILDREN'S DEPT.
LANE, CRAWFORD,
-LTD.
THE HONGKONG, TELEGRAPH. THURSDAY, JUNE 22, 1933.
THE
VAUXHALL
SYNCHRO-MESH
FAULTLESS GEAR
CHANGING
NOW
BEING DEMONSTRATED
AT OUR SHOWROOMS
HONGKONG HOTEL GARAGE
Stubbs Road.
tract supplies is not solely based RED RUSSIA'S 50,000,000
upon this score, however. It can
CAPITALISTS!
By Dr. EDOUARD LUBOFF
and
The Very Idea!
TEST IN PEACE
ASPIRIN TEST
as casily be argued that, in the last analysis, the method will defent itself. In the measuro
By Edward Kelly, R.I.P. that production is reduced, will
VE have just seen the new unemployment be created,
WE lessening the demand for the The Soviet authorities are pro- so-called "non-losing" bond, every published extracts from:
on the reduced production and requiring posing to finance the second Five-holder of which must in the course Larwood's book further drastic cuts in order to Year Plan by internal loans. The of the next ten years win a prize; maintain the artificial price level.rst issue of £300,000,000 at par is about £20,000,000 is offered as Australian cricket tour. It
already announced.
prizes. The other bonds carry The position is the same precise. Financial capitalism-a form coupons entitling holders to appears that Mr. Larwood ly ns with schemes for rationali- of capitalism despised and carl-terest of 10 per cent. on the face discovered, during his visit to Australia, a specie of an- aation. Rationalisation leads,eatured by Socialists in certainly value of their bond.
booming under the Red Fing. . Ostensibly the money is to be for all practical purposes, to the No less an authority than the used to finance the Second Fiveimal known as the barracker. Next time the English cleven same thing. It means that in- Pravda, the guardian of Com-Year Plan. Actually another at- dustrialists organise with a view munist 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 embe a different order of things. to refraining from producing individual bondholders. The ren-ployees, and earnings of the 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 eight and the end of the year earninga at every conceivable point, pass-milliona in 1929 to forty millions in Russia will be reduced by at When the 'next séries starts, ing beyond the more 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 carnings at the highest, thing like this from Reuter: saving devices at works, thus Union of Soviet Socialist Re- or 100 roubles a month,
publice is a financial capitallat, a The question of dumping la, of eliminating the need for human coupon cutter." And the latest course, much more complicated to-
Thrilling Contest of Loving labour, to embrace avoidance of loan is expected to swell the num-day, as most countries have been
ten safeguarding themselves,
Kindness. the middleman. The purchasing bor, by at least another
millions,
Soviet exports have slumped tro- It is Buggested,
BRADMAN A DUCKY. power of all concerned in produc-
Let us, however, not make the mendously. tion and distribution is reduced mistake of accepting these boasts therefore, that the new loan is not
ampires strolled Phone 23124, in the fanatical attempt, under at Moscow's own valuation. The so much an attempt at renewed WHEN the
silently on to the grounds the present economic system, to rentiers are a fact, of course, but dumping as an attempt to hide
neither 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 is the inevitable result? It is even of ordinary normal well-commodities and to minimise, at their hands and let fly their cap- politically, the possible tive balloons in happy anticipa- being. Red capitalists are made lenst too obvious to require statement. by compulsion; they are the most effects of the expected famine. The method is akin to injecting unwilling "coupon cutters" in the
Advancing to the middle of the n patient with the virus of his world, and millions of them would
Another suggestion is that the pitch and toss, the white-coated disease in an effort to cure him,prefer an immediate addition to
their ration of bread or butter or new loan with its "all winners" officials dropped the pin, which was to if we agree that the cause of the ment to all the chances in the chances and high rate of interest heard distinctly from every cor-
the guaranteed fa intended to provide an exciting nor of the ground. economic crisis is a lack of pur-lottery loans or
interlude to distract public at-
Mr. Jardine had won the toss with The Soviet authorities have tention from serious problems and his rubber penny, and decided to bat, chasing power among the con-dividends on each bond. suming classes. There is prob- certainly shown ingenuity in their deficiencies,
Whatever the real reason for The Australians entered the field in ably a more fundamental cause, financial sharp practices. Their
a clover dis-the new loan, it is clear that it is three mourning couches fitted with but investigation leads to a new guise behind which the tragically neither intended nor is it neces- pneumatic tyres. subject, the
"D.B. Jardine, Esq." was the first blind confusion small wages of Russia's workers Bary 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.
and consumption. The people been estimated and earmarked. Hongkong Telegraph. Capitalist system, as we know it are ill-fed and ill-clothed, but the 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. to sub- year Socialist Russin will have an have yet to learn that money is chequer compels them
scribe to his loans and nees to it army of 60,000,000 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'
arm to the crease. is not a commodity. Its true are deducted from their miserable ist style. place in human affairs is that wages.
of 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.
CHAU
FUNERAL.
at
YUE TENG. Funeral start from his residence No. 33, Seymour Rond (Hongkong) 10.30 nm. on Sunday, the 25th June, 1933, stopping at Yat Pit Ting (Kennedy Town) for last
rites at 12.30 p.m.
The
THURSDAY, JUNE 22, 1933.
A SHOCK FOR THE
CONFERENCE
་
internal loans are
REASON FOR LOANS.
}
+
ARMY OF CAPITALISTS,
HOW THE DEATH DUTIES CRIPPLE INDUSTRY
BY RONALD STAPLES,
EDITOR OF “TAXATION."
of actual
CABOS
'tion,
Mr. Woodfuil then tossed the ping- pong ball to Mr. O'Reilly, not with- out a certain amount of effort, as the
wind was fairly strong. In fact, at felt one stage the M.C.C. captain vory much inclined to appeal, against the wind.
1.
As darkness was setting in towards the end of play the chaperones for both teams came to the field, and stumps were drawn.
The rest of this palpitating story
fact that both teams aro now sleep- Ing after their strenuous day on the field.
will be told in silence, owing to the
HUM-DINGER.
So far, the only reason for all internal loans-the roubles have 110 value outside Russia-woa The Hon. Mr. Stanley Bruce,
dumping. By taking £680,000,000 Australia's principal representa-
in roubles from the people through tive, is liable to become highly
the compulsory loans issued in the
After two overs, Mr. Sutcliffe drew course of the first Five-Year Plan
to the leg umpire's attention
Mr. unpopular in World Economic Muzzles or Vaccine?
period, Moscow was able to with- Conference quarters. His out-
draw goods to that amount from
Few people who are not directly Oldfield, who, he said, was breathing look tends towards the practical
home consumption to dump all over concerned can realise the devastating down his neck. Mr. Oldfield explain- ed that he was suffering from the world. There was no other effects of the death duties, not only on asthma, so the three shook hands, and and that will hardly do. His A set of typically parrot-like 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 the game proceeded with Mr. Oldfield holding his breath and sucking a of industrial activity, terday, describing as a terrible Megarry to questions by Sani- and is entirely unnecessary inside,
One or two examples
peppermint drop. tary Board members concerning The workers and the peasants can will show how the present system: of After three hours Mr. Jardine suc- policy the suggested curtailment the outbreak, or alleged out always be paid with roubles, excessive death duties operates cocded 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 intorcats of the State. messenger brought him 'A noto almost
desired, while all other supplies The owner of an estate worth £80,- from an admiror in the grand- every primary com- methods taken to deal with the are owned and controlled by the 000 just after the war desired to make stand, thanking him and generally modity, represents a dangerous "menace." One analyses them Government and can easily be provision for his widow to receive applauding his action. Mr. Jarding challenge; dangerous because it in vain for some sort of con- transferred from one department not less than 420,000 on his death formally bowed his acknowledgment,
after the payment of a legacy of aroused enthusiasm among deie-structive and practical thought. to another without the use of cur- $10,000-to-cach-of-his-four-children. - The afternoon-ton-adjournment was: gates of the smaller States and been the system of the past, so
Muzzling and shooting dogs has rency as such.
Owing to the increase in the death taken in the field, Mr. Woodfull and 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 tea and scones. the programmes of the vested ferent? That is, in effect, the people by other and more direct if her husband died in the current interests. Mr. Bruce softened Government's reply to Mr. Wong means, but this would reveal his year.
The mental burden on the industrin- 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 immediate purposes, consent To Mr. Megarry it was suggested lotteries, and the bait of interest provision for death duty payments if
possible during this lifetime has on While the band played the National might have to be given, but the that inoculation of dogs with are safer and more certain in the industry a psychological effect of the Anthem in the deaf and dumb langu-
anti-rabies vaccine, a distinctive long run. damage was already done.
greatest Importance. The whole age, the crowd reverently held its He mark to be worn to indicate they The new loan is being placed on policy 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- seribers are offered the choice of disadvantage of himself and his
(Continued on Pago 10.) the contemplation of the most ing. No! Government did not two kinds of bonds. One is the powerful groups and if the seed think such treatment would be
sufficient. The reason,
if any, thus sown grows into revolt, the Conference may yet be compelled Mr. Megarry admitted the ef was conspicuous by its absence. to face the raw realities of the fectiveness of vaccine; he ad- existing situation. Mr. Bruce's mitted that it was obtainable ́in conception of the world's needs the Colony. The professed con- may have Bounded trifle cern of the Government is the strange coming from the repre- the menace is as great as official- safety of human lives. If then sentative of a country which has dom would have us believe, 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. Res-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 cheerless oculations? Owners would 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 majority 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 sistont "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 causo Arestrictions in the New Terri- prosperity-breeding boom." The tories, 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 the maudlin' methods profits for money-making circles. of muzzles and guns to humano The resistance to `efforts to con-treatment.
A
ཐ
"Should I let my husband go ahead with this business'
vonture ?**
Things should hum in football circles noxt season. We are not 'quito cortain, 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 one prominent local footballer on reading the proposed new League rules was found dis- traught, wandering about the raliway. track, talking to the little birdies.
First suspiclon was that he had been hit by a train, but he was later heard to be murmuring "And it only takes nineteen people to fill up British Cabinet."
П
Ho also said something about "Ser- vice for Service men," but it was thought that ho was again a trifle light-headed.
*
FROM THE ECONOMIC FRONT.
Yes, my dear friends, you want to know what we have gathered here together for, gathered here from all the ends of the earth. What are we about to do? You may well nik. It is the question we have come here to decido. What are we about to do. Let me tell you, gentlemen, the world cannot walt, We must do something if this world is not to sink into utter chaos, and I have little doubt, littlo doubt, still having fdith In human In- gonulty and (soito voce) banking re- source, that wo shall do it. It will all be plain sailing if we see syp to eye. Gentlemen, wo must tako steps and take them quickly. (Loud cheers). It's a sad heart that never rejoices.