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THE HONGKONG TELEGRAPH. TUESDAY, OCTOBER 31, 1933.
USED CARS
The following
are available. Inspection and trial Invited.
MORRIS OXFORD TOURER Good running order $450 CHRYSLER TOURER
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$550 CHRYSLER ROADSTER ·
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$1,750 HUDSON TOURER
Perfect order ERSKINE SEDAN
Excellent condition $1,600, ESSEX TOURER
$1,500
NOTES OF THE DAY
..
TROUBLOUS DAYS.
"
LAY THIS INFLATION BOGY
THERE ARE GOODS IN PLENTY IN THE WORLD.
By PETER BROWN
The Very Idea!
LET'S JOIN THE NAVY
By Edward "Columbus" Kelly, (UCCESS of Navy Day
Slast Saturday has promp ted the query "Why are British Naval ships never know-featured in films?”
All the news these days seems to consist of crises and rumours of crises, A Cabinot falls in Franco. Riots accompany elections In Spain. Arabs riot in Palestine. Mr. T. V. Soong resigns. The Grau Son Martin Government in Cuba is on the verge of collapse. An English Journalist is arrested in Munich. A shake-up in the
HE world is as right,as rain. Įdoubled the manufacturers, Administration States United
ing this, will immediately double If it only know it.
Practically every picture looks possible. And a Labour
The necessaries and comforts of their prices." - candidate captures East Fulham!
Why? Their production costs from America contrives to Most striking of all, the world life are available in abundance. economic depression is almost One But we refuse to make full use of have not gone up overnight. In- introduce either a warship, Hundred Per Cent. responsible, them. Because a mystory is made creased prices would be sheer pro- or an airship, or some other directly or indirectly, for each and of money, which is nothing but teoring, and would easily be
ship of the ilk. overy development that has pro-the means of distributing all the checked.
The truth is that if additional vided a head-line in the last few good things. daya.. Yot life, in the main, goes
Contrast this contrariness with currency is issued rationally and on much as usual. Ninety or the common sense that prevails applied rationally. It will be dif- British Navy doesn't have Acult to profiteer. Industry and half the fun the American goba ordinarily in everyday matters.
The channel through which goods trade (and the banks) will cerdo. British sailors have to ba tainly make greater profits, but on duty at the right time; thoy
cent. take but a casual interest
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ESTOP
Here is something of interest
́overy' golfer
Steel Shafted
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Among our newest arrivals we find
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Have you tried the new BROMFORD BALLY
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Phone: 2815-
HONGKONG HOTEL
1
GARAGE
(Show Room)
STUBBS ROAD Tol. 27778-9.
The
Thongkong Telegraph.
TUESDAY, OCTOBER 31, 1933.
AMERICA'S PROGRAMME
United States is
"
main from increased turnover."
The reason is that that the
The remaindor split into diame trically opposito camps, those who fool it great to be allve in this pass to the consumer la curratic, the extra profits must come In the are not allowed to throw pies at cra of world change and those who and it is simply common sanso hanker for a desert island-with-that this channel should be widen Prices will rise only when the de. the Admiral; they are tied up
od as required. The amount of
mand catches up with and exceeds completely with red tape, haweers, currency must be capable of cop- ing with the quantity of goods the supply and there is a good lanyards and other yarns.
The American Navy, as every deal of leeway to make up in this available for passing on.
direction.
Alm-goer has seen, enjoys a won- Gold has nothing whatever to do Mr. Soung's resignation has
This is the way to put it: Ifderful time. To start with they shaken Shanghal severely and no-with our ability to produce whest
the amount of currency is doubled wear hats that fit all the girls one will question that he takes and consume it, to make and use and used to widen the basis of they meet. When they go ashore away with him one of the main a motor-car.
normal purchasing power, the no one bothers if they don't come As a monetary medfurn, the inert manufacturers already operating back at the correct hour. If the props of the Nanking Govern- ment's stability. Bankers have yellow metal that hypnotises the on a margin of profit will be ablo captain makes a fuss at their being given him credit facilities which "economists" is a pitiable make-to double their profits out of a four or five days late, they just they would have hesitated to grant shift, resorted to on the unwar doubled turnover. Those now say, "Aw, cap'n, give ua:a break," to many others in times of na rantable nasumption that there is sald to be producing at a loss will and, everything is O.K. tional turmoil, He remains among no such thing as good faith. also be put well on their feot. As
Gold is intended to serve as
a
Ап example, take the wheat- growers of the West, for whom the
the fow. Chinese leaders whose Integrity and singlences of pur- pose have gone largely un-(1) The international standard questioned even by his political of value and counter of exchange foce. His resignation appears to (2) The "anchor" for currency. have arisen from the Instinct 1.e., each ounce of gold carries for commonsense; the country's definite amount of currency, finances Ard already in too parlous a state to permit further NOTES WOULD DO AS WELL. excessive military expenditure to Now (assuming both of those a sound functions to be legitimato) let us be countenanced by inancier. Mr. Kung takes over suppose for a moment that, at a Let us define inflation.
or more
common
As far as we can judge from
City shows such altruistic concern films, almost every American bat- If the growers could sell their tleship has several of the most present surplus (ie., wheat pro-attractive female fin stars among duced but without a market) at its crew. Besides having a wife in the same price as the wheat they every port, the American sallor do manage to dispose of, thelr has two or three on board as well, affairs would immediately become thus competing with Solomon for profitable.
the titlo of Wise Guy. These girls can usually say very little
money.
18
for
TEE-TIME
an uninviting, thankless task given time, the nations' stocks of Is it the issue of currency be-beyond "Aw g'wan!", "Bay, big with all good wishes and a feeling gold had been replaced by inter-yond a certain "backing" of gold? bey," and also (after reaching that he is, perhaps, the next best national monetary notes each It is nothing of the kind. That port and meeting some of the other man in such an emergency. But note representing one
is the bugaboo "inflation" of the wives), "But I don't understand!' there would be widespread satis ounces of gold.
"economista." The passing to and fro of these Goods are produced. The Idea In twelve months time, it faction if Mr. Soong could be pre-
These film stars cause great fun vailed upon to reconsider his de may be possible to get a goodcision-If it did not also mean the notes would have served exactly in to use them. To exchange them on board because they will not the same purposes as the transfer The means of exchanging goods is stay put. They pop out of their of actual gold. In addition, this idea of the way the American surrendering of his principles.
(Barter
bar-hiding places just as the captain procedure would have had the barians.) To exchange a certain is passing by. They cause the recovery programme is going to
enormous advantage that, as world quantity of goods, a certin amount anilors to forget their duties so work out. The one thing clear ARAB UNREST
The unrest in Palestine provides requirements expanded, the sum of money is necessary. To ex far as to leave a bucket of white- to-day is that all signs full in a time like the present. Tho another striking example of the ber of International "gold notes" change double that quantity of wash at the bottom of the ladder interdependence of peoples in this could have been increased ac goods double the amount of money down which the visiting admiral
ls needed. And no more. ..trying
Is about to walk. They got in the modern world. It seems to be a cordingly. Always by something so completely new direct repercussion of the rise of agreement-no possibility of any
INFLATON IS THE ISSUE OF kitchen and put mustard and exlatonce country monkeying about on Its
BEYOND THE Pepper in the chief officer's ice that an observer has nothing Nazidom. Jews and dependable to go on. Every-next to impossible in Germany, and own. And as each international CURRENCY
also entertaining a hidden lady: leave in their thousands, An at- note would have carried a definite AMOUNT NECESSARY TO EX-cream Just when he happens to be. thing is adrift, and about
tompt is made to speed up the amount of currency, the amounts the only prediction that seems scheme for providing a national of the national currencies would CHANGE ALL THE GOODS friend.
Saturation point in the issue of Perhaps the next Disarmament safe ls that when the various home for the Jews in Palestine. have been increased as well and AVAILABLE,
The quickening of immigration rendered capable of dealing with
currency is reached when further Conference can be persuaded to blocks have all been put together alarms the Arabs-the recrude the growing needs of domestic
Issues fail to increase the turnover enve the British film industry by again the picture will look ke sconce of the disturbances of a few trade.
That procedure is, in principle, of goods when (ofter every pre either (a) making Amerlan disarm, nothing ever seen before. It is years back was almost inevitable. for this reason that all the The outcome is uncertain. The practicable to-day-secing that caution against profiteering has thus reducing unfair competition, learned attempts to analyse and worst may be over; or may yet when all is said and done, all cur-been taken) further issues merely or (b) allowing some of the pret- cause a corresponding rise in tiest film stars to join the British
Navy. dissect the recovery programme be to come. So much depends upon rencies are still ruled by gold. A
the resource and tactfulness of the simple operation will restore pro- prices. are so contradictory. No two men on the spot. So far they seem sperity-Increase the amounts of As to the "backing" for curren- critics get the same result to have managed well in difficult all currencies in the same pupor- Does the arch-conservative com-circumstances; if the Arab lead- tion, multiply them all by the same cy. It is goods that are to be ex- President Roosevelt wants "the plain-as one did recently that ors can be brought to the council number. Allocate half of each changed. Goods are the backing.
We met a pal of ours at the it la gotting almost impossible table further bloodshed may be resulting multiple to the nation is
currency, and half us International dollar to have the same value a
generation hence." The only way Kowloon Golf Club last Saturday to tell the news from Moscow avoided.
notes, from the news from Washington these days? Elsewhere you can
As soon as sufficient money ia to maintain the prices of goods at just as he came in to the 19th Hole provided, it will be possible to pass the same level is to issue sufficient from his first game.
"What was your score?" asked find the arch-radical protesting
Cuba has been remarkably quiet on the goods that are hung up.currency to exchange all the goods
"Seventy-two", replied the. that the whole business is just a since the Hotel National carnage But when expansion of currency is produced. Plenty of goods and another member, great Fascist coup designed to and the mad blood-lust that follow-proposed, the "economists" throw too little money, and prices fall.
Jolly enthrone privileged wealth for-ed. The fairly long interlude up their hands in horror. Try to Too much money and too little novice.
"Seventy-two?. That's ever, Does the studious scems, however, to have contribu- make our flesh creep with a bogy goods and prices rise.
"Economics"? It is elementary economist prove conclusively, ted little to the achievement of they have dubbed "Inflation.",
"Yeah, not too bad," replied our with graphs and columns of ordered government and the col representativo "economist" arithmetic. Ask any schoolboy to
this statement recently: check this over:-
pal, ok pal, oh pal, "but I'm hoping figures, that the kind of economy lapse of the Grau San Martin re
(Continued on Next Column) to do better at the second hola.' gimo seems imminent, all essential "If the amount of currency is represented in the industrial services having been brought to a and agricultural control plane standstill by a general strike, cannot possibly work. You can which the government is helpless find books by equally studious to meet or to minimise. The weak- economists (written before nesa, of course, is the dependence March 4) proving that only upon the support of the student through a planned economy simi- and ABC organisations, both of lar to the one now being at which are ready to criticise but offer little constructive assistance. tempted can П mechanised
If Dr. Cespedes agrees to return; modern society survive. The he will meet with very similar dim. doctors, in other words, disagree cultica, although his Ministers and about as thoroughly as can be advisers will probably be more able imagined; and the more thought- than those Dr. Grau San Martin ful and learned they are, the has been able to gather around more they seem to differ with him.. Very reluctantly the obser- one another. What it all comes Machado method of maintaining ver begins to wonder whether the down to is the fact that America law and order by forceful methods is set on a road so new that the was not the only safe one in maps have got to be made up as Cuban circumstances.
as she goes along. The famous
CUBA'S PROBLEMS
war-time song "We don't know ONE LESS NUISANCE where we're going but we're on our way" fairly represents the tenced to a year in gaol the other A San Diego youth was sen- situation. It is just as true day for confessing to a murder with the decision to purchase which he had not committed. San gold abroad as it in with the in- Diogo had a murder which drew ternal programme of the gold a lot of public attention. This
desiring plan, President Roosevelt doubt-youth,
a taste of less has an objective, but he can notoriety, went. to the polico and short time the only achieve it if other countries confessed. In a are prepared to submit quietly, police proved that he did not know which seems most unlikely. That what he was talking about; but is the danger in the altuation, instead of turning him loose they charged him with obstructing Domestically, the United States Justice, and now he will have a can do much as she likes. The year in which to meditate on his ability to push through the pro- folly. Here is a stop which might gramme depends upon whether profitably be followed in all such democratic society can live up to cases. Unsolved murders frequent from a surpromo test, and produce the ly bring "confessions" necessary aptitude for the notoriety-sockors, and they are a science of politica., Outside tremendous nulaanco to the America, it impinges on the ideas authorities. It is safe to suppose that the nuisance would be con- of other countries and a cur alderably abated if a good stif rency war seems inevitable.
sentence wore the price
made
"How do you explain this, Paddy! We didn't plant any sun flowers here.".
good."
*
MIDNIGHT FOLLIES
She: "A pretty time of night for you to come home!".
Us: A pretty time of night for you to be awako!"
Sho: "I stayed awake for the- last four hours waiting for you to come home."
Us: "And I have been kooping myself awake for the last four hours at the K.C.C. waiting for you to go to sleep."
INTO THE BREECHES
Of course, you know that to distinguish the lady wearing panta. from her male companion, it is only necessary to observe which one le listening.
Avaliable: 6 orange and 6. pence price Id. each; 12 oranges and 6 pence price d. each (if, as the "economists" suggest, Id. oach is still charged, half of the oranges will be wasted);.0 oranges, and 12 ponce price 2d. pach.
But, 12 oranges and 12 penco— price 1d. each, again.
MORE MONEY-MORE WORK.
Now, let us visualise the effect of currency expansion in prosent conditions Say additional cur rency la lesadd and used for pay Ing full wages to unemployed workers in return for work of publle utility. What is the result? Those workers are ablo to buy more goods. The public in raner-
(Continued