WHY pay exorbitant prices for a pretty bottle when we can sell you the same article in a plain bottle at half the price of other Lime Juice Cordials?
WATSON'S
THE HONGKONG TELEGRAPH. THURSDAY, JULY 13, 1933.
NOTES OF THE DAY PLANNED ECONOMY AND The Very Idea!
PLANNED PRICE LEVELS
Banking Privilege is To-day the Subject of Attack
WE RESİGN
from All Quarters in Discussions on the World's Econo- By Eddie Kelly, Tired. mic Problems. Below is the second instalment of the DAY in and day out, week, other side of the question, as outlined by Mr. Benjamin after week, month after M. Anderson, the Economist of the Chase National month, not a proposals
word of Bank. He subjects President Roosevelt's programme sympathy, not even a ring on the phone to come and have one.
While nothing of importance has transpired regarding the inten tions of the Government, it is in- teresting to learn that the Cur. rency Commission Report is not, as we were beginning to foar, lost in a cob-webbed pigeon-hole. The rathor revolutionary made and the local views thereon are still the subject of close study by the Colonial Ofee and no im- mediate decision is to be expected.
seem to indicate that the powers that-be are disposed to accept the recommendations of Mr. W. H.
UNDILUTED The long delny would, however,
"A PURE
LIME JUICE CORDIAL
ME JUST COM
MANUFACTURED IN OUR OWN FAC- TORY FROM THE FINEST WEST INDIA LIMES AND PURE CANE SUGAR.
$1.00 Per Bottle.
NEW
VICTOR
RECORDS
NOW ON SALE
INCLUDING
“TELL ME TO-NIGHT”
Sung by RICHARD CROOKS.
(Ask for Record No. 1619).
S. MOUTRIE & CO., LTD.
York Building.
Chater Road.
Tel. 20527.
"STUDY YOUR STUDS"
SQUARE BACKS
some new designs,
Something new in Stud design
a square back instead of that old round pattern.
and
They are not so easily mislaid they save a man's time and prolong his patience.
Made in SOLID GOLD and in one piece too. they are practically unbreakable.
Are supplied in Sots of 2, 3, 4 or 5 Studs.
~~And Ideal Gift for a Man
Essential Jewellery for Gentlemen. LANE, CRAWFORD, LTD.
Jewellery: Dept.
JOY-
"The Vauxhall Cadet is a powerful, roomy and com- fortable car and it possesses two obviousadvantages. One, a silent second, must appeal alike to expert and novice. The other, the Synchro-Mesh gear changing is to novices, like myself, a pure undiluted joy." So writes this Synchro-Mesh enthusiast. Try it for yourself—you cannot make a bad "change" Smooth acceleration, declive braking, steering that is effort less and ample power-all these you will find in the Vauxhall Cudes.
You will use less petrol than you'd expect. Modern Hines, riding comfort, luxurious conchwork, tateful colour schemes, headlights and radiator flutes in gleaming chromium, mark the Cadet as being a distinctly different car. Prices from £295. Arrange for a trial
run
VAUXHALL CADET
THE CAN WITH THE SILKY PERFORMANCE
HONGKONG HOTEL GARAGE. (SHOWROOM)
Phone 27778-D.
Stubbs Road.
The
Hongkong Telegraph.
to critical examination.
NO 3.
I am not wholly hostile to somo matters. They will do harm, but they measure of co-operation under won't be fatal. the restriction of output in certain Government auspices, looking toward raw
material lines, particularly where wasting natural resources are Involved. We probably need it in the
LOWER TARIFFS AND GOLD STANDARD ESSENTIAL.
We're sick of it. To-day we're going on strike and leave, you to the mercy of the
Clegg, and his colleagues and that extraction of crude petroleum from and apprehension, reciprocal tariff a few outsiders. So you can In the present state of world fear other members of the staff and the problem has been to meet the the ground. Here supply is little reduction seems to be about the only expect what's following. aubmissions of the bank interests, influenced by prics, but rather is way that the matter is politically fen-
governed by the discovery of new aible. I believe that it is perfectly No one can excuse this column. But the Colonial Office can scarce fields, and by the necessity which feasible and desirable, from the stand-of being ahead of the timo, 80, as ly lose sight of the Reports most every producer faces of pumping all point of economica, for us to lower our we can do with a holiday, we have striking sentence: It is funda-if his neighbour is pumping, in order tariffs and restore our gold standard, invited any number of people to mentally wrong that the exchange to protect his own oil from being whether other countries go along with write it for us.
drained away. Natural goe value
may us or not, and that we should speedily Colony's currency present Blmllar case, Lumber find ourselves with a rapidly growing
Here is the film criticism section should depend on one person and possibly docs. And the long sick trade, with our currency held in high written by our film critic:
bituminous coal fields may well justify esteem throughout the world, and no less wrong that that person careful study and conscious public with our position, both relatively and should be put in a position where planning. But I know no
This portion of "The Very Idea" Caso of absolutely, enormously improved, I column is the moat graphic, soul- he may constantly have to decide manufacturing, refining or processing we were the only country that did it. shattering epic ever printed for between the conflicting interests industries where I should be willing We should get a greatly increased modern thrill-crazed readers. Ed- to see trade associations get together proportion of world trade, expert and ward Kelly has been noted for his of the Colony and the bank. with the Sherman Law waived, to import, we should greatly strengthen colossal productions, but to-day's raise prices and restrict output. our own internal economy, and we
of a
SILVER RECOVERY
consumers
*
•
•
•
a.
should regard that as a measure tend- should stimuinte the world as a whole. contribution will stagger aven Kelly ing to increase, rather than to Other countries, moreover, would himself with the ultramagnificence. diminish, the unbalance between raw follow our example,
of its sweep, the breath-taking New York evidently has greater material production and manufactur- The view has been expressed that, splendour of its heaven-inspired confidence in Senator Key Plit-ing, and I should regard it as an anti-if the London Conference falls and we story. See to-day's Eddie Kelly
revival measure. man's ability to bring his silver
turn to the plan of controlled economy column and die. in the United States, we must then. rehabilitation efforts to a triumph. CONFLICTS AND COMPROMISES. raise our tariffs In order to protect the
rising costs which this would involve. "Veritas" to contribute, owing to a We had some difficulty in getting ant conclusion than is to be noted I have indicated that economic This seems to me to be particularly little misunderstanding about fivo in London. Active trading has planning cannot be done on Atrict erroneous. I think that, in this case, carried the price up to 39 cents in economic lines. It inevitably involves we should all the more need lower bucks we borrowed from him last
political compromisca and the conflict tariffs to protect our
week. New York, while cautious London of political purposes which will make against excessive price increases by matter over by borrowing another But we finally smoothed the moves In small fractions of a the pian an economic disharmony. trade associations, free from the five bucks. We had to let him off penny. Nevertheless, the outlook There will be conflicts among different operation of the Sherman Law, and writing for the column, though. for better allver prices seems the railroads wanting lower steel rail themselves from the strangling effect nowspaper reporter who was pass.
trades, steel wanting higher prices, to protect the trade associations Our next contributor WAS bright and a higher Hongkong prices. There will be conflicts be of one another's activities upon their ing through from Alaska! dollar is to be expected. tween labour and capital. There markets,
and I have in mind here a remark made America's difficulty hitherto has will be political manoeuvres
piressures. Congressmen and Sen- to me several years ago by a British chiefly been in arranging for aators, under bombardment from their economist, that England didn't need to round-table discussion ол
the constituents, will be spending an ever have a Sherman Law because she had silver question. With
increasing amount of energy in putt-free trade, but that, in the absence of all the
ing political pressure upon the co-free trade, she of course would have countries that matter represented ordinator to favour this or that or the to have one. at the London Conference, the other special interest and the Con- biggest obstacle to arrangements overburdened with private affairs at gressmen and Senators are sufficiently ANOTHER CHECK
for control has been removed. the present time not to welcome much There may be interests who cavil
more this kind of thing. Let us There is another line of thought and What should logically be one at artificial measures for raising hope that the Administration will use body of proposals, in many ways. these vast new powers with the different from that which I have just the price of the white metal, but greatest caution, in the most tentative been describing, which would not seek of the most encouraging fen- the ordinary man's view is this: manner, try them out on a very small to regulate prices, wages and indus- tures of the world's present If silver is to be treated as a com- gradually. A sudden sweeping ap-feels that enough is accomplished if, people write this column to-day,
scale, and extend the application very trial activity bit by bit, but which economic and monetary difficul-modity, what good reason can be plication could create a fearful chaos. by currency and credit manipulations, we felt it would add Interest to use ties is the obvious fact that all advanced for treating it as the OVERBUrdening washingTON. commodity prices, leaving general as possible. Therefore we end by wo control the general average of as widely differing types of people of the chief problems are in the touched? What is good_for-rub"Let us. Bear in iind, too, the limità. enterprises. There are some minds Presenting a little contribution from
lily-white lamb that must not be highest degree irrational. They Ler, sugar, tin and wheat, is sure- tions, upon nervous and physical capable of trying to combine price. a friend of ours in South Africa. need only to be stated to dis-ly good for silver.
energies in Washington, and let us fixing and industrial regimentation have in mind that we must not put an with the notion of currency and credit close their inherent absurdity,
unbearable burden upon the ultimate manipulation designed to make all co-ordinator, the President of the prices rise, but I do not know any and the more they are stated and
United States, whose great abilities clear economic theorist who would do examined, the more likely should
and high courage we recognize, and so, and I should say that the two at whose immense social energies we general notions are economically con- marvel, but of whom we must not de-tradictory, and that a scheme which combines them is a political rather mand superhuman things.
THURSDAY, JULY 18, 1933.
PETROL PRICES
•
PLANNED ECONOMY VERSUS PLANNED PRICE LEVEL.
industrint decisions to individual
Fortunately, our economic system is than an economic synthesis.
the
"I come to Hongkong," he wrote. "It is all right. I meet Edward Kelly. He is all right. We have a drink, and Edward Kelly he speak to a girl. The girl she say "You cad!" Mr. Kelly, he look all of a doo-dah and he say "Hicl" I ask Ed- ward Kelly if this is all right for his page and he say "N.B.G." I do not know what, he mean. Good-bye. It is time for blubber.'
my
When, we decided to let other
#
"Nboona, aboona," he wrote, gryg, grgg, hulla hulla, ngpangi, ngpangi. yak ck ck, oroompaorcompabmbm." (Laugh
here.)
STOP PRESS Just before we went to press.
Dear Eddie. I consider that nine-tenths of the value of the Telegraph is, to An in- telligent reader, concentrated in your
column. Dare you bring this to the notice of the
It would be idle to speculate it be for mankind to recogn. upon the appearance of cause and ise.. their absurdity and remove effect in the comparisons recently them. Unfortunately, national made public concerning petrol not a closely fitted mechanism, but, It is very important that we should this came from Alice, and по interests still hold sway. Amer. prices in Hongkong and Shanghai, rather, a very loosely articulated and recognize that the vast powers which hokum:
and the announcement yesterdayed mechanism would break down in in legislation, adopted or pending, do, fioxible organism. A closely dovetail our Congress is giving the President, ica seems to be making progress that local prices had been dras- short order if called upon to carry out in fact, represent political compromise in defeating the depression. Al-tically cut. The motorist is con- all the conflicting purposes and if rather than consistent economic plan- though such progress must be tent to accept the reduction with subject to all the conflicting control ning, and that the simultaneous purely illusory unless
mechanisms which other an
different exercise of all these powers would get expression of satisfaction. schools of economic theory and the us into hopeless chaos. We must countries show similar powers of The primary cause, doubtless, is different political forces are simultan- distinguish
between the
Editor. political restoration, she seems prepared the sharp rise in the value of the cously applying to it. But a loose and legislation and the Administrative to block any attempt to secure Hongkong dollar in terms of deal of abuse and can respond to a powers, if we are to see clearly or to flexible organism can stand a great economic programme under the international co-operation if it American dollars. Here again, great many contradictory purposes, hop for any good outcome. The If our Administration can succeed in President does not need to do all the appears, at first sight, to be re- perhaps it would be unwise to
its main objectives at the London Con- things that he has authority to do, strictive of America's methods. examine the matter too closely.ference, we can stand a good deal of and there is every reason for believ Yet there never was a time when The motorist might begin asking experimentation, and even a good Ing that he intends to do only those
many unsound policles in domestic (Continued on Next Columine.) natural forces operated to com- pel nations to be neighbourly as strongly as they do now, World. THE DAVIS CUP
for more!
wide communication is an ac- Australia and England meet- to- complished fact. Distances day In the European Zone final of have shrunk.
the Davis Cup. The winners will The increasing meet America for the right to complications of finance and challenge France. No other in- trade have made all countries ternational sporting contest can inter-dependent. We have deve-popularity as the Davis Cup. Most bonst of such a rapid advanco in loped the art of production to countries send representatives an- the point where poverty need no nually to participate in it, and the longer exist. We can make more through the game and good spirit remainder join the common interest
of everything than we can possi- | which It encourages. National bly need. The masses of man-feeling in the winning and losing kind can enjoy more luxuries course entirely dormant; but be of Davis Cup matches is not, of
than the wealthy could have a hind everything, in most instances, few generations ago. Yet, is a spirit of sympathetic interest in the defeated and good sportman- poverty is increasing and we ship in success. There will be no suffer from a shortage of near- "hard feelings" at the end of the
y everything; and strangely en-Anglo-Australian tic. ough poverty fías increased most rapidly in those nations whose ability to produce wealth has been most augmented. World trade to-day ought to thrive as never before. The facilities for it were nover so great; the need of the various nations for the things produced by their neigli- bours was never so great. These problems, when examined care fully, simply don't make sense, Is it too much to expect that we shall presently find all countries moving with the tide instead of
INDIA'S OPPORTUNITY
India's campaign of civil diso- bedienco la virtually over. Gandhi and most of his Congress collen- gues are. In agreement on this vital issue and are prepared to replace negation by a constructive programme. This is a highly creditable attitude and if Con- gross_Idana_and claims are in any way harmonious with the policy of the British Government, the co-operation proffered will meet with a cordial response. only in this spirit that India can realise her aspirations and Eng- land accept the responsibility for Lentdring fully upon the experiment
It in
Of course, I have made a mistake in my opening sen- tence the editor can get out of it by saying that the Tele- graph has only one intelligent reader (that's me) and that the rest of the staff write for the general public.
So after all you better keep this out of the sight of the Editor. All the same, you will bo pleased to know that there is one person in Hongkong who admires your efforts to bring a little sunshine into our grey lives,
Youre in Affectionate
Admiration.
0
We felt a trifle mental when this came along to ease our jaded soul and clear our jaundiced oye. Our chess has gone to pot. We are no good at, halma. We feel all wrigg- ly liko schoolgirl. Wo don't know who Allca f8, but--well one never knows does one, and when one does, one's never sure is one? We shall be wearing a pink carnation at the Hongkong Hotel corner at seven
p.m. to-morrow morn when the clocks are striking nino.
Pass along please, pass along!
things which he believes himself indicated very clearly, in connection with the agricultural legislation, that he regards it as expozimental, intends to apply it experimentally, and, if it does not work well, to acknowledge it. promptly. This experimental attitude is good, within limits. The danger comes if there are so many experl- ments that they breed uncertainties, and if business men must be con stantly altering their plans as the nows from Washington varies from "day to day.
GREATER Volume and MORE EMPLOYMENT."-
There are those who believe that the way to start business going is to
Confinued, on,
?.
-