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*
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EST. 1841.
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THE HONGKONG TELEGRAPH. FRIDAY, NOVEMBER 24, 1933.
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u
NOTES OF THE DAY
}
C.E.R. QUIET
WHITHER AMERICA?
By SIR WALTER LAYTON
POLICY.
it
The Very Idea!
BREEDS THERE A MAN.
WITH SOUL SO DEAD
WE
By Eddie Kelly, Mormon. E read with interest the other day that Austral- ian farmers have proved that the Alsatian dog has crossed with the dingo, or bush dog, the resultant half- breed being particularly
Tonsion in the Far East has slackened perceptibly in the last the fost four years has been rose during the summer boom to [HE outstanding feature of the iron and steel industry, which few weeks, although the Aslan scone has not yet ceased to be a which has gone to a greater ex- ing been about 15 por cent. last the excessive fall of prices, 65 per cent, of capacity (after hav- vivid reminder of the struggles trome in America than anywhere January) and has now fallen back for power which dominated the else."
to 31 per cunt. of capacity. Hence end of the nineteenth century. In The fall has reduced. farmers the search for a new expedient. those days, Britain and Russia and other debtors to bankruptcy were the rivals. To-day, Japan is and compelled banks to close (3) THE NEW GOLD the principal.
Different times, their doors. different principals; but the same to restore prosperity in America of an
It would be next to impossible The new device took the form old game, Twelve months ago it on the low level to which prices Government
announcement by the looked as though Japan were to
that recently have fallen except after long hava things all her own way. She years of depression and of in- would buy gold mined in America. seized Manchuria and was taking dustrial and agricultural adjust- This is not to be confused with dangerous to sheep and
stabilisation of the dollar in terms other animals. steps to securó control of the ment. Chinese Eastern Railway. But The effects of falling prices of gold, for each day the official for some reason, direct action was have been so clear and so disas price has been higher than before cachewed and the opportunity al trous that President Roosevelt and it is clear that the intention lowed to slip. Some months ago, into office, to try to influence the of gold,
has been led, ever since he came lo to depreciate the dollar in terms Russia was offered a sum for the price-lovel directly. He has, What precisely is in the mind railway which Moscow would have therefore, paid too little attention of the President it is impossible entertained gladly a few months to the economic and political to say at this distance. But this earlier and negotiations have end-causes that had produced the plan is clearly in close affinity to that section of American opinion ed in deadlock. Yet Japan pre-
To influence prices he has al- which has been loudly preaching sorves caution and the threat to
ready tried two expedients, and that if only the dollar were de- seize the railway has been dia has now'announced a third. preciated to the value of 60 cents, creetly forgotten.
prices would inevitably rise.
This conception, however, may
SOVIET STIFFENS
New developments, пера at
titudos.
crisis.
(1), PSYCHOLOGICAL
STRATEGY.
We are more than interested
in this paragraph, because we have often had suspicions that' something like that la happening in Hongkong. Hence, we nak our readers to be not at all sur- prised if they read something like the following in their local newspapers one of these days:
*
have, at least three different "An Alsatian mosquito yesterday
moanings.
attacked and killed. Mr. Poobah (1) One is that the dollar should | Penkite, whila hó was playing golf have only the purchasing power at Deepwater Bay. The savage. that 50 cents had, let us say, at creature, a result of cross-breeding the beginning of the year-in double and the dollar depreciate in terms of goods.
An oxcellent wheat har~ | missive powers to inflate the cur- other words, that prices should the ferocious Dendromyinaɑ grey'
vest has given the Kremlin new courago. Maxim Litvinoff, aided BELL-At 374, The Peak, on the by the travail of European politics, morning of the 24th November, has made Soviet Russia fresh 1933, Dars, the dearly beloved friends, now joined by Washing wife of William Henry Boll. No flowers letters of condolence ton. The atiffening of the Russian dry special request. It will be appreciated if friends who would with forebodings. Not
front against Japan fills, the world have sent flowers will send
so much small donation to the Hongkong for what it signifles in the relation Ladies' Benevolent Society "In of these two great powers, but for Memory of Dora Bell," The funeral will pass the monument what it means in world politics. nt 5.00 p.m. to-day, Friday. The situation is becoming a kind (Straits and Shanghal papers please copy).
of vortex, drawing nations in- exorably into it. Britain, steady a friend to Japan during the Manchurian trouble, is irked by the Island Empire in competi- tion for the world's import trade in cotton textiles. It has been suggested that on this ac- count alone the British would not take a Russo-Japanese clash amiss. France is at the crossroads. An-
The
Longkong Telegraph.
FRIDAY, NOVEMBER 24, 1933,
+
PREMATURE ?
The first was the psychological expedient of May and June last, when, after leaving the gold standard, the President took per rency, There was much talk of America's determination to raise the price level, and the resources (2) The second is that the dollar of publicity were enlisted behind should depreciate in terms of publle belleved prices would rise, the assumption that, if only the foreign money. the rise would in fact take place To some extent this assumption proved correct, for there followed Stock markets and in the markets an outburst of speculation on the for wheat, cotton and other pro- ducts.
and Alsatian dogs, not only attack- ed Mr. Peakite, but swallowed three of his golf balls. Now that a resident of the Peak has been the of these savage victim of one In the spring it was thought; that this was the key to the situn- creatures, it is felt that the govern- tlon, and that if only the dollar ment will take some action regard- depreciated enough on the interna- Ing the proposed sterilisation of all in América must rise. Experience tional exchanges the prices level mosquitoes." has proved this wrong. Events In
Great Britain after our departure "A pot Hare, which escaped from But prices will not stay high from the gold standard in 1931 its owner a month ago, has crossed unless there is plenty of purcha- | showed that the disturbance caus- sing power in the markets whore ed by instability of the exchanges with an Alastian dog, and the re- the products are normally bought, is just as likely to depress prices sultaat cross-breed is now monac and for the American farmer this in other countries as to improve ing the whole of the mainland. means not only the home market, the situation for the country Kowloon residents, terrorised by but the market in foreign coun- whose currency has fallen in the vicious attacks by this Alsatian therefore, overdone, and a setback tries. The rise of prices was, value.
even occurred in July.
(3) A third meaning is to lower the value of the paper dollar in The public have learnt from terms of gold. this episode to have a little less Now if there were some natural faith in the power of suggestion or permanent link between the to influence the price-level, and value of gold and the value of all prices consequently now show less other commodities the act of mak-
Haro, are fleeing to the protection of the Island, Potor Poorpants, the well known local sportsman, had' a terrifying experience with the vicious animal, when he came across It on Sunday. Poorpants was
Thus far, the Fukien revoltxious to cultivate the Kremlin nsresponsiveness to Mr. Roosevelt's ing gold dear and dollars cheap aventually able to escapo, suffering.
a cries for far from anxious to upset Japan. six months ago, With the Japanese Navy supreme (2) RECOVERY
was not developed to warranting the view that it need be taken very seriously. Indeed, unless a marked change soon occurs in the situation, the move
in Asiatic waters, Franco must! ponder the future of Indo-China,
CAMPAIGN.
in dollars would also be higli.
GOODS AND
GOLD,
help brought the aid of a party of hikers, who, with some difficulty, despatched the animal. Owing to the state of his trousers, and the ment may quickly fizzle out. It and will think about that posses create a more solid basis for ris- twoen goods and gold even when party, Poorpants was unable to appears to have been premature- sion increasingly under her new ing prices, the President tried to
In the accond place, in order to But there is no such ink be-presence of ladies in the hiking ly launched, in the belief or hope Premier, M. Albert Sarraut, of support which has not been
a country is on the gold standard;
give any assistance." forthcoming.
A expand purchasing power at home and when, as is the case at pre- Yunnan and former
Governor-General. Sho by means of the National Industrial sent, gold is no longer the standard, Kweichow, which, in any event, has been going to great pains to Recovery campaign. This plan variations in its price have no
factors, have denied thefr as- Tokyo over the Herriot mission to i ployers to put more money into It is not even the most important of worm which, when thrown into. were not likely to be-important remove-any-suspicion lingering in increasing wages, to compel em the price of any other commodity.kong have discovered a new variety-
tried, by shortening hours and more effect-than-variations in
sociation with the revolters, Moscow.
whilst hopea that Kwangtung
might have been brought in
"Week-end fisherman in Hong-
the hands of their workpeople and of commodities.
the water at the end of a line, so to stimulate, demand.
America's total stock of gold, for savagely attacks and holds the But the permeation of an econ- example, is worth about 4 billion nearest and biggest fish. In the omic system by fresh spending dollars. The capital assets of the belief that this worm is the result power is a slow and complicated United States in 1920 were soorth of cross-breeding with business; and the Immediate re-about 300 billion dollars. Finanelers from Paris are alter-sult was that costs of production
would seem to be disposed of AND AMERICA 2: by the declaration of the South- West Kuomintang Executive Committee denouncing the move-
ment and charging it with being nately reported to be ready to lend definitely Red in character. The money to Manchukuo and to as fact that Canton's allegiance to sist Japan in exploiting what may Nanking has for some years been yet be a new Klondiko in north largely nominal was no doubt ern Manchuria. Where does the considered as a favourable cir- United States and her recognition cumstance by the revolters. Even so, it looks as if there is in this struggle? Moscow says as a of the Soviet Government appear little prospect of the South linking itself up with the move-stabilising force, meaning of course, ment Kwangsi is likely also to as a kind of moral backer of Russia remain aloof, so far as present against Japan. It would be inter- indications go. Largely isolated esting to know what M. Litvinoff as the new regime is, there is has been given to understand con- little at the moment to suggest cerning the role to be played by that the secessionists will ha Washington. The United States able to extend their influence has her own little problem with True, they have the apparent Japan, but it will not be composed backing of the 19th Route Army, by encouraging the Kremlin to be- but there are grounds for think- leve, as it has sedulously wished ing that Tsai Ting-kai and his to believe, that the United States men arc not the invincible would be the other half of a pair Army that they were at the of nutcrackers in which to prison time of the Shanghai troubles, Japan. High politics on this or- in which, and since that time der will bring civilization to the
at Yenping, they suffered heavy rocks if it gathers too many losses. The position of the Red cruite.
armies in Klangsi is somewhat
obscure. Nanking report al
leges that the new regime has CHURCH FINANCE.
come to terms with the Reds, on
a basis which suggests that
TC-
ffirmed
It has sometimes been' they may, for a consideration, that the Church of England has keep out of the picture. The reither an identity in the oyes of exact position has, however, yet the law nor an address in those of to bo disclosed. Any real link the Post Office. Its constitution Ing up with the Reds would, of will become a little more compact course, put a more serious com- If two main branches of its re- plexion on the situation than is venuo are “rationalined" in the way warranted at the moment. recommended by the Archbishops Nanking is apparently determin-Commissioners and Queen Anne's Commission. The Ecclesiastical ed to attempt a suppression of the movement by force, and, Bounty are by this scheme to be once action is begun, it should amalgamated at an early date, so
that one agency may suffice be possible to gain a better iden work which has heretofore been of the real strength of the re done on parallel lines and much to volt. If it is merely a piece of the same purpose. It should be internal, plotting by dissatisfied gain to the Church in Hoveral ex-politicians, without much aspects to have its financial sltun- military backing, it should soon tion clarifleù-as a unification recedo into Insignitlcance. munt help to do.
for
Alsatian
Or again, if we take production, dogs, the name "Alsatian worm" rose before prices went up, profit the annual output of gold in the has been given to the creature, in disappeared, and employers were United States is worth about 45 handling which great care has to be compelled to reduce output and million dollars; the output of all taken to avoid being bitten." to hold back their plans for ex-goods and services in 1929 was panding business.
80,000 million dollars. fore, dwindling again, as can be only of the United States, It is The turnover of trade is, there- If, therefore, we are thinking seen from the behaviour of a trade natural that a rise in the price ALL barometer, such as the output of
(Continued on Page 5.3-
"I think that's her last year's cont made over, but you would.
nover guess it.?!-
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•
WIMMEN
See Nothing, Hear Nothing, Tell
HOME LIFE
We used to wonder what film stars did when they were able to enjoy homelife away from the ear of the microphone, and the staring oye of the camera. Since then, we've read a lot of illustrated journals which are dumped into Hongkong, and we have learned a lot.
The home-life of the film star is a busy one. She is forever getting ready to cook things. Many's the photograph of a film star" we've seen in her kitchenette sometimes It is the butler's pantry-beating up something in a basin. One cannot seo into the basin, so we have never, learned what it is they bent. What over it is-salad dressing, omelette, or soup-powder-It knows its place. In something like a thousand photo. graphs of this particular bit of home-life, not once has the stuff in the basin dared to splash over the pretty kitchen apron worn by the star,
Pot animals are another soured of amusement. Nearly every act- ress has her pot elephant, crocodile, porcupine, or tiger-cat, which sho cuddles in her arms at the identical moment the photographor, happens -- to drop in for a yarn.th
The malo star's life fa a littlo different. They import mountains. into their homes to climb up on. You see them in the photographs, perched on the tops of these lofty, peaks. Or olso they are souted in motor cars. And it seems that they have fresh car for ovary, photo- graph.