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'IN A
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WHITBREAD'S
PALE ALE
BRINGING THE OPERA
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A complete recording by World-Famous Artists, under the personal supervision of Rupert D'Oyly Carte, of the
"PIRATES OF PENZANCE"
(GILBERT & SULLIVAN)
Ask for "H.M.V." Album No. 83
(Abridged Edition No. 126).
This favourite Opera will be produced by the Hongkong Philharmonic Society at the King's Theatre on February 6th, 8th; 9th & 10th, Matinee at 4.30 p.m. on Wednesday, February 17th.
DON'T MISS IT.
S. MOUTRIE & CO., LTD.
York Building.
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IN
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CHILDREN'S DEPARTMENT,
THE HONGKONG TELEGRAPH.
CUT YOUR
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BILLS!
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FIT ONE
and PREVENT CARBURETOR 'TROUBLES $12.50 each
HONG KONG HOTEL GARAGE -Showroom- Stubbs Road. Phone 27778.9.
The
Hongkong Telegraph.
FRIDAY, FEBRUARY 9, 1934.
THE DANGERS OF
ISOLATION
FRIDAY, FEBRUARY 9, 1934.
NOTES OF THE DAY CURRENCIES AND
'JAPAN'S SUSPICIOUS
UNEMPLOYMENT
By PETER BROWN
[NEMPLOYMENT Is, the mon- due solely to the artificial shortage
tee monofcully to
monstrosity--that 1934 must slay1 The proposal to issue sufficient It must be exterminated. One currency to consume all the goods and for all. The immediato task the world can produce is common. of social science is to abolish un-ly opposed on the ground that employment by establishing the balance between the production of goods and the production of gener al well-being, an aim that can easi ly be accomplished.
There will be immediate and un- precedented prosperity, unemploy- ment will be a thing of the past, as soon as rational thinking in mat tera appertaining to production and, distribution takes the place of political dogma and bogus "econ omics."
Labour lendora assort that
ONE MAN'S VIEW
The Very Idea!
LOVE AFFAIRS
LOVE!
What scenes are called to mind by the mere mouthing of the word! What scenes! What hellishing rows!
Love and kisses. AH! Kiss me, Hardy! XXX.
Oh, what it is to be kissed.. We have been kissed, our-
self.
"overy precedent" shows "Inflation" been disastrous in Its to have results.
There is no precedent adduciblo in respect of rational currency ex-
In our adolescent stages pansiona process to which the we were once so kissed that terms. “Inflation" and "dovalus- tion" do not apply.
ran around in circles for some days, and for weeks after. that we walked about in a
Japan's suspicions of the United States are well illustrated by the enquiry in the House of Peers con- cerning the precise significance of: American cooperation in the deve- opment of air mall services in China. The suggestion is obvious, Looking for an ulterior motive, the Japanese. sec in the strength of American. aviation organisation in China a potential threat. They aco the United States building up a supplementary air fleet with Its base in China ready for use the event of against Japan Pacific hostilities Involving Tokyo and Washington. They are more alarmed by the report that the Curtiss interests are establishing a factory for rapid production of aeroplanes for Nanking than by the part the United States is play-
There must, of course, be a back ing in the development of commer- cial aviation, but in both they ob-
ing for currency. It is goods that serve cause for investigation. A
are to be consumed. Goods are the backing. Goods are the reason country which is distinguished by
Capitalism produces abundant why currency issued. The a remarkably close association be- tween Government and individual, goods. It is unlikely that Socialism amount of currency la determined where little is done in the foreign could do so. Eliminate the pro- by the quantity of goods available field without reference to national spect of personal gain, stifle per- for consumption Currency with "backing" of an arbitrarily Interests and policy, finds it dim-sonal Initiative and the pioneer a cult to be understood that such a spirit (the fount of all progress) chosen metal, but with no gouus
is killed as dead as a door-nail. behind it, would be useless. system is not existent in СУСГУ
Capitalism has not broken down. A further objection to currency other country.
It is being held in check, because expansion is that there can be no our leaders fall to realise that cap-need for more money, because itallam is essentially a system of there is a "glut of money" already. production and not of distribution. Capital is money for production The capital money put into circula-at a profit. It must recover its tion in the course of production expenditure and a bit extra. leads, it is true, to the (Immensely The reason, therefore, why capit varied and far-reaching) exchange al is lying idle-why there is a of goods and services, but this ex- "glut of money"te that there is change is fundamentally a part of not sufficient currency to exchange
Capital as a whole cannot absorb at a profit. its production as a whole. It must take out more money than it puts in.
GLASS-HOUSES
Capitallam has had its day and that we must look to Socialism for our Balvation.
We
trance.
There was one....older'n us, she was-said, "Kizz muh !”
Got a half-nelson on us, she did, and, they had to bring us. brandy and undo our collar and use artificial respiration, Nover been quite the same since. She was one of these tall, sinuous women who never seem to have. any money.
Then there was a brunette. Sher was one who used to gradually look closer and closer into your eyes, until the back of your head hit the wall. Waggle her
oyd-
real business from the back of
The psychology of the Japanese la sworth n close study. In no country in the world are so many precautions taken against the chance discovery of military a arets. Forbidden zones are ovory- the original process of production, all the goods that can be produced flashes on your neck and start the where to be found. The foreign amateur photographer Is watched like n lynx 'wherever he goes. Yet all the care and precaution simply harks back to the fact that Javan has probably the most efficient Spying organisation in the world.
STRATEGY
'SECOND TO "NONE"
only
SUPPLY AND DEMAND.
The snowball" of capital has your ear and work round to the been rolled until it can get no big-front of your face, by which time ger, there being no mora loose you had swooned away. snow" for it to collect. It is now One way and another; we miss- being broken up (forced into cir-ed a lot of fun, swooning away, The "world economic problem" culation for purposes of mere con- Maisie she was a nice giri. consists of the complications aris-sumption), gradually to roll itself Wo should have smashed her tooth ing out of the prevalling excess of anew into a ball-until once more in about four times a week. She Hupply over demand. That "pro-it has not enough to feed on, and said she could only treat us as a blem" is a matter of simple must perforce consume itself yet sister would a brother. Used to
once again.
kiss ua on the forehead! arithmetic. Here it is:-
That is the course of every "trado cyclo."
1. World goods in existence, say: 100 bushels, World currency in existence, say: 100 dollars. All the 100 bushels can be dis- posed of, at 1 dollar a bushel.
2: The world progresses. Pro-
200
Goods in existence: bushels.
Currency in existence: 100
dollars.
Thero la a "glut of money." "Money" consequently is cheap. So are goods. So is Inbour. Any thing offered in excess of demand is cheap.
One of those three is to be made dear. Goods are to be mado scarce; the production of goods is to be restricted. Well, the less goods produced, the less labour ra quired to produce them. And less If all the 200 bushels are to be capital (are not innumeraud aold, only 50 cents a bushel can be dustrial concerns cutting down charged. That is why "prices their capital?). Labour and capi- have fallen." If the price is main tal in greater, over-supply still, tained at 1 dollar a bushel, half cheaper still-that is the inevitable of the 200 bushels will be "over-result of bringing the supply of production" and will have to be destroyed.
goods down to the present arti- ficially attenuated demand."
-bushels.
dollars.
Issue suelent
currency to con-
Asked her, in desperation, how long this sister business would be going on. She said, "For Ever," and burst into tears.
So we told her that we had a sister, and strode off Into the night." We have been kissed by distant female relations. We have even been kissed by the wife.
She says, "Whisky "No! No! Dear!" virtuously,
"Kiss me again!" We do and, "Brandy!" she says
We blushed.
"You've had four brandies!"* accusingly.
the
We give in and confess to the 3. But say the amount of the But what about the common... means of exchange is brought sense alternative: bringing the four. What else can you do when abreast of the quantity of goods demand for goods up to the supply? you've had twelve brandles. available for exchange.
Love, these days, gives us a pain We're Goods in existence: 200 aume all the goods that are being in the small of the back
So if produced-and-can-be-produced too often misunderstood. Currency in existence: 200 and what happens? Goods every- anyone wants to abolish kissing
where in demand. Immediate calls they can count us in All the 200 bushels can be dis for capital. Immediate calls for Down in the South Sen posed of, at the old price of 1 labour. Capital sure of a satisfac natives rub noses instead of kles- dollar a bushel.
tory return. Labour suro of de-ing, and our idea of Paradise is The only way to reap the bene cont wagca.
a place full of noseless South Sea fit of increased production is to Every field, factory and furnace Islanders. increase the means of exchanging a scene of activity, Railways hard We are, of course, open to con- production-to lague the appro- put to it to cope with the traffic. version. priate additional amount of cur- All our ships sailing the Bens. rency. It is the only way to keep Everybody busy and "happy. By the prices of goods at uniform Issuing sufficient currency. paying level. .....
Sir Herbert Samuel's implied
It is much the same in matters of appeal to Japan, during the strategy. The Japanese know well how they would proceed in given House of Commons debate on circumstances. And as a result disarmament, that she should quite innocent enterprises by the reconsider her policies before nationals of other countries ure sho becomes
interpreted In Tokyo, or suspect, diplomatically,
as Government-inspired for poll-duction is doubled. economically and morally iso-tical or strategic reasons. This lated, is a timely reminder of a applies particularly to any activity F Americans in China. It is felt very real danger both to Japan in Japan, probably quite rightis. and the rest of the world.that any war threat between Japan Uttered, as it was, in a perfectly and the United States can friendly spirit, it should arouse arise from the conflict between their policies In China, which are no ill-feeling. On the contrary, clearly d'ametrically opposed. it should be examined in a like And thus it is that oven a publie spirit, and a pause be taken for address by an American mission
ary la examined for its political the purpose of pondering over motive. Protestations that none the full implications of present exist are of no avail. tendencies. No impartial obser- ver of world affairs can but re- cognise that Japan's present policies are leading-her--into
Meanwhile the United Stater isolation and into loss of pres- furnishes plentiful reason for tige amongst the nations of the Japanese alarm that something Is world. Her studied disregard brewing in Washington that bodes of world opinion on the Man- no good for Japan. The complete reversal of the naval policy follow- churian question and her purely ed since 1920 is naturally worry negative attitude on the dis-ing. And although there are few armament issue reveal her in who believe that the bigger Navy will be exploited to America'a the light of a nation which pre- advantage politically, the excuses fers to go hér own way, what advanced ure even less tenable ever the consequences may be. A navy "second to none" sounds good. But is it big enough? It may be doing the Japanese Shouldn't the United States have people an injustice to suggest the "biggest navy in the world"? that this feeling dominates them If it intends to depart from the
national policies
which as a whole; there can be no ques-recent naval planning has been tioning the point, however, that based, It should. Those policies it represents the policy of those are linked with the Kellogg pact now at the head of affairs. The and the London Naval Treaty. By the former the nations ronounced tendency cannot but be de-war except in self-defence. By the plored.. It is not in accord with latter supremacy of defence over the hopes of those of her well-attack became the key to naval ad- wishers who had believed that justments between the United States, Great Britain and Japan. Japan's gradual evolution to the Each was given naval strength rank of a great Power would sufficient to make it supreme in
its own waters, have been marked by a progres- sively demonstrated desire to fall in with world ideals. | SELF-DEFENCE.CONCEPT Japan's status in the comity of nations to-day carries respon- sibilities as well as privileges a point which she appears at times to overlook. One of the main reasons why she has ad- vanced to her present position is that she has, until latterly,
shown
of
If the United States desires to maintain that arrangement, to defend have a navy adequate to its own coasts, it can do so merely by judicious replacements obsolete ships. It can do so even should Japan herself acquire, the l "second-to-none" idea though Japan is now reported to be con scrupulous and cerned over her financial inability studied regard for inter- to keep up the pace which America la sotting for the purpose of keep. national obligations and ♫
ing up with Japan. But if the willingness to co-operate for United States desires to imitate the common good. That she is the concept, of self-defence Japan has employed in Manchuria, and to now in danger of losing that re-
push forward policles which will markably fine tradition and re require the use of force far afield it putation is a circumstance which will indoed need a bigger navy, one cannot but fill her friends with vastly stronger than anything now contemplated. Tho navy Amorich regret and disappointment. No
has is adequate for certain pur nation can afford to isolate it-
poses. It is pitifully inadequate self nowadays. Policies based if certain other purposes are to national self-sufficiency and be pursued. The whole question Is, For what does America wish to ard of the interests of use its navy? It behooves Ameri must, in the long run, cans to give that question somo
mselves.
thought.
THE FOOZILIER
Money is a voucher given for Someone has asked us for some. value received or recelvable. A golf hints. Here y'are: SHORTAGE OF CURRENCY, bank cannot issue money for con Addressing the ball-Raise your hat and call it "Sir." Correct Improvements in machinery andsumption because it would get methods of production are, so far, nothing in return. The State can atance Is feet out, toes crossed. not the cause of "over-production," issue money for consumption, be-Neck in (No, not necking). Keep (Continued din Page 7.) The present under-consumption is
"That isn't quito the way he tells it."
the cars still. Moustache (if any) relaxed. Bend the elbow slightly. If at 19th bend it frequently. Raise the eyebrows. Distend the stomach. Keep your eye on your opponent.
In the Fairway. Drop your wrists slightly. Reduce your waistline Finesse with your loft foot and lead with your queen for 13 grand slam. Keep mind off evil thoughts, and remember that a rolling atone gathers no moss.
Bunkered. Extend the little. Anger as in drinking tea. Shift chewing gum, chewing tobacco, cought lozenge, or what have you from right to left check. Wriggle your ears. Cross your eyes. Put all your weight on your solar- plexus.
Approaching the Green.-Use rosigned expression. Foot well. apart. Walght behind the cars. Watch your hat and coat, and re- member that a boy's beat friend is his monther.
Now for a hell of a long patt.--- Just relax. But keep a stondy stance, stiff upper lip, determined chin, etcetera, and top the ball gently in the midrift for a goal.. Feint with your left and sink it. 40-love, your advantage, last ong home is hee.
WORST OFFENCE
He stood abashed-the", King
Crime. Whose name filled peaceful, men
·with drandy S
He'd murdered people in his Ums, Bat: now, mohamed, he hung bla
His wife, with syèk of anger, saw
Hin cigar nas upon the door.