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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 7th..
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THE HONGKONG TELEGRAPH. FRIDAY,”
CUT YOUR
REPAIR
BILLS!
USE "ALEMITE" GREASE-
FITTINGS
ALEMITE**
Gas-Co-Lator.
IS A NECESSITY !
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
FEBRUARY
1934.
NOTES OF THE DAY CURRENCIES AND
JAPAN'S SUSPICIOUS
UNEMPLOYMENT
By PETER BROWN [NEMPLOYMENT is the mon- due solely to the artificial shortago Uox protesque artifioin) of currency.
The proposal to issue sufletent
ONE MAN'S
VIEW
The Very Idea!
LOVE AFFAIRS
LOVE!
What scenes are called to mind by the mere mouthing
Love and kisses. AH!
Kiss me, Hardy! XXX
Oh, what it is to be kissed. We have been kissed, our- self.
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 dove lopment of air mall services In monstrosity that 1984 must slay! China. The suggestion is obvious. It must be exterminated. Once currency to consume all the goods of the word! What scenes! Looking for an ulterior motive, the and for all. The immediate task the world can produce in common-What hellishing rowel Japanese seo in the strength of of social science is to abolish un-ly opposed on the ground that employment by establishing the American aviation organisation balance between the production of in China a potential threat. They goods and the production of genor- see the United States building al well-being, an aim that can easi up a supplementary air fleet with ly be accomplished,
There will be immediate and un-"every precedent" shows "inflation" its baso in China ready for use
been disastrous in Ite event of precedented prosperity, unemploy to have against Japan in the Paciile hostilities involving Tokyo ment will be a thing of the past, as resulta.
There is no precedent adducible and Washington. They are more soon as rational thinking in mat alarmed by the report that the tera appertaining to production and in respect of rational currency ex- Curtiss interests are establishing a distribution takes the place of pansiona process to which the
ran around in circles for factory for rapid production of political dogma and bogus "econom nation and devalue we were once so kissed that
tion" do not apply. aeroplanes for Nanking than byomica."
There must, of course, be a back-some days, and for weeks after the part the United States is play-
we walked about in a ing in the development of commer-
ing for currency. It is goods that that cial aviation, but in both they ob-
are to be consumed. Goods aro the backing. Goods are the reason serve cause for investigation. A
is
The Jasued. currency country which is distinguished by
Capitalism produces abundant why a remarkably close association be tween Government and individual, goods. It is unlikely that Socialism amount of currency is 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 apoct of personal gain, stifle per- for consumption. Currenev with interests and polley, finds it dim-sonal initiative-and the pioneer a "backing of an arbitrarily
behind it, would be useless, cult to be understood that such a spirit (the fount of all progress) chosen metal, but with no Huou is killed as dead as a door-nail. overy system is not existent in
Capitalism has, not broken down. other country.
•
GLASS-HOUSES
that
Labour lenders assert. Capitalism has had its day and that we must look, to Socialism for our salvation.
A further objection to currency 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 italism is essentially a system of thero is a "glut of money" already. Capital is money for production production and not of distribution. The capital money put into circula- at a profit. It must recover its tion in the course of production expenditure and a bit extra.
The reason, therefore, why capit Tolends, it is true, to the (Immensely
varied and far-reaching) exchange al is lying idle-why there la of goods and services, but this ex-"glut of money is that there is change is fundamentally a part of not sufficient currency to exchange the original process of production, all the goods that can be produced Capital as a whole cannot absorb at a prefit. its production as a whole. It must take out more money than it puts in.
The psychology of the Japanese is worth a close study. In country in the world are so many precautions taken against the chance discovery of military se crets. Forbidden zones are every- where to be found. The foreign amateur photographer is watched like a lynx wherever he goes. Yet all the care and precaution aimply harks back to the fact that Japan has probably the most efficient spying organisation in the world.
STRATEGY
•
SUPPLY AND DEMAND.
We
In our adolescent stages
trance.
There was one....older'n us,
Got a half-nelson on us, she she was-said, "Kizz muh!"
brandy and undo our collar and did, and they had to bring us use artificial respiration. Novor bcon quite the same sluce. She was one of these tall, sinuous women who never scom to have any money.
сус-
Then there was a brunette. She was one who used to gradually look closer and closer into your eyes, until the back of your houd hit the wall. Waggle her real business from the back of lashes on your neck and start the The "snowball" of capital has your car and work round to the been rolled until it can get no big front of your face, by which time ger, there being no more loose you had swooned away. "snow" for it to collect. It is now One way and another, wo miss-- being broken up (forced into cir-ed a lot of fun, swooning. away,
The "world economic problem" culation for purposes of mere con- consists of the complications aris-sumption), gradually to roll itself ing out of the prevailing excess of anew into a ball-until once more supply over demand. That "pro- it has not enough to feed on, and blem" Is a. matter of simple must perforce consume Itself yet
once again.
That is the course of every arithmetic, Here it is:-
"trade cycle."
dollars.
existence:
existence!
Maisie she was a nice girl.. We should have smashed her tooth in about four times a week. She said she could only treat us as a sister would a brother, Used to kiss us on the forehead!
-Asked her, in desperation, how There is a "glut of money." long this sister business would She said, "For "Money" consequently is cheap, be going on. So are goods. So la labour. Any- Ever," and burst into tears. thing offered in excess of demand Pro-is.cheap.
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.
Wo дау..
"Kiss me again!" We do and, "Brandy!" she says Ve blushed..
"You've had four brandies!" accusingly.
We give in and confess to the
four. What else can you do when you've had twelve brandles.
Sir Herbert Samuel's implied
It is much the same in matters of
1. World goods in existence, say: appeal to Japan, during the strategy. The Japanese know well
100 bushels, World currency House of Commons debate on
how they would proceed in given
in existence, say: 100 dollars. circumstances. And as a result disarmament, that she should quite innocent enterprises by the All the 100 bushels can be dis-
are posed of, at 1 dollar a bushel. reconsider her policies before nationala of other countries
2. The world progresses. she becomes
interpreted in Tokyo, or suspect, diplomatically,
One of those three is to be made na Government-inspired for poli-duction is doubled.
made to be in
200 dear: Goods. are Goods economically and morally iso-tical or strategic reasons. This
scarce; the production of goods is bushels. lated, is a timely reminder of a applies particularly to any activity
100 to be restricted. Well, the lese by Amorleans in China. It is felt
Currency In very real danger both to Japan in Japan, probably quite rightly,
goods produced, the less labour w and the rest of the world.
that any war threat between Japan
If all the 200 bushels are to bequired to produce them. And leas capital (are not innumeravid - Uttered, as it was, in a perfectly and the Tinited States can only friendly spirit, it should arouse arise from the conflict between sold, only 60 cents a bushel can be dustrial concerns cutting down their policies in Chins, which are charged. That is why prices their capital?). Labour and capi- still, no ill-feeling. On the contrary, clearly
opposed. have fallen." If the price is main-tal in greater over-supply diametrically it should be examined in a like And thus it is that even a public tained at 1 dollar a bushel, half cheaper still-that is the inevitable spirit, and a pause be taken for address by an American mission of the 200 bushels will be "over-result of bringing the supply of arv ly examined for its political production" and will have to be goods down to the present arti
none destroyed,
ficially attenuated demand. the purpose of pondering over motive. Protestations that
8. But say the amount of the But what about the common- the full implications of present oxist are of no avail.
means of exchange is brought sense alternative: bringing the tendencies. No impartial obser
abreast of the quantity of goods demand for goods up to the supply?
Love, these daya, gives us a pain. Issue sufficient
We're available for exchange.
currancy to con- ver of world affairs can but re- "SECOND TO NONE"
Gooda in cxistence:
200 sume all the goods that are being in the small of the back. cognise that Japan's-present
bushels.
produced and can be produced too often misunderstood. So if policies are leading her into
Meanwhile the United States:
Currency in existence: 200 and what happens? Goods every- anyone wants to abolish-kissing- reason for isolation and into loss of pres- furnishes plentiful
dollars.
where in demand. Immediate calls they can count us in
Down in the South Sea the All the 200 bushels can be dis- for capital. Immediate calls for tige amongst the nations of the Japanese alarm that something is
1 labour. Capital sure of a satisfac- natives rub noses instead of kiss- world. Her studied disregard browing in Washington that bodes posed of, at the old. price of
no good for Japan. The complete dollar a bushel.
tory return. Labour sure of de-ing, and our idea of Paradise is of world opinion on the Man-reversal of the naval policy follow- The only way to reap the bene- cent wages.
a place full of noseless South Sea. Every field, factory and furnace Islanders, churian question and her purely ed since 1920 is naturally worry-fit of increased production. is to
We are, of course, open to con- negative attitude on the dis- ing. And although there are few increase the means of exchanging scene of activity. Railways hard armament issue reveal her in who believe that the bigger Navy production to issue the appro- put to it to copo with the traffic. version,
will be exploited to America's printe additional amount of cur-All our ships sailing the
THE FOOZILIER the light of a nation which pre-advantage politically, the excuses rency. It is the only way to keep Everybody busy and happy. By
Someone has asked us for some. fers to go her own way, what-advanced are even less tenable. the prices of goods at a uniform issuing sufficient currency.
Money is a voucher given for ever the consequences may be. A navy "second to none" sounds
value received or receivable. A golf hinta. Here y'are: good. But is it big enough?
Addressing the ball-Raise your SHORTAGE OF CURRENCY.
bank cannot issue money for con-
"Sir? Correct It may be doing the Japanese shouldn't the United States have
Improvements in machinery and sumption because it would get hat and call it
stance is feet out, toes crossed, people an injustice to suggest the "biggest navy in the world"? that this feeling dominates them If it intends to depart from the methods of production are, so far, nothing in return, The State can
national policies upon which not the cause of "over-production." Issue money for consumption, be- Neck in (No, not necking), Keep
(Continued on Page 10.) as a whole; there can be no ques-recent naval planning has been The present under-consumption is tioning the point, however, that based, it should. Those policies
it représents 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 uations renounced 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-
justments between the wishers who had believed that States, Great Britain and Japan. Japan's gradual evolution to the Each was given naval strength rank of a great Power would sufflelent to make it supreme In
its own waters. have been marked by a progres- sively demonstrated desire to
United
of
fall in with world ideals. SELF-DEFENCE CONCEPT Japan's status in the comity of
If the United States desires to nations to-day carries respon- sibilities as well as privileges-maintain that arrangement, to have a navy adequate to defend a point which she appears at its own coasts, it can do so merely times to overlook. One of the by judicious replacements main reasons why she has ad- obsoleto ships. It can do so even should Japan herself acquire the vanced to her present position is second-to-none" idea though that she has, until latterly, Japan is now reported to be con- shown
and cerned over her financial Inability scrupulous B
to keep up the pace which America studied regard for Inter-
la setting for the purpose of keep- and national obligations
ing up with Japan. But if the willingness to co-operate for United Statos desires to imitate the common good. That she is the concept of golf-defence Japan bas employed in Manchuria, and to now in danger of losing that re- push forward policies which will markably fine tradition and re-require the use of force far afield it putation is a circumstance which will indeed need a bigger navy, one cannot but fill her friends with vastly stronger than anything now contemplated. The riavy America regret and disappointment. No has is adequate for certain pur- poses. It is pitifully inadequate nation can afford to isolato it- self nowadays. Policles based if certain other purposes are to be pursued. The whole question on national self-sufficiency and is, For what does America wish to disregard of the Interests of use its navy? It behooves Ameri others must, in the long run, cans to give that question some
thought. defeat themselves.
paying level.
"That isn't quite the way he tells "
деля.
the ears still. Moustacho (if any) relaxed. Bend the elbow slightly. If at 19th bend it frequently. Ralso the eyebrows. Distend the stomach. Keep your eye on your opponent.
In the Fairway-Drop your wrist slightly. Reduce your waistline Finesse with your left foot and lead with your queon for a grand slam. Keep mind off evil thoughts, and remember that a rolling stone gathers no moss.
little Bunkered.Extend the Anger as in drinking tea. Shift chewing gum, chowing tobacco, cought lozenge, or what have you, from right to left check. Wriggle your care. Cross your eyes. Put all your weight on your solar- plexus.
Approaching the Green-Vac
Feat: well. resigned expression. apart. Welght behind the ears. Watch your hat and coat, and ro member that a boy's best friend is his manther.
Now for a hell of a long patt
stoady Just relax. But keep a stance, stiff upper lip, determined chin, etcetera, and tap tho-ball. gently in the midrift for a goal.. Foint with your loft and sink. It 40-love, your advantage, last one home is hea.
WORST OFFENCE
He stood abashed--the Kin
Crime.
Whose name filled peaceful man. Dog with dreads
He'd murdered people in his time, Rat-now, ashamed, be hung his
head:
Ilis wife, with eyes of anger,
Tus diger ash upon the conc