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EST. 1841.
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THE HONGKONG TELEGRAPH.
Succe
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MY 1934
THE CAR SUCCESS
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the
Hongkong Telegraph.
MONDAY, MAY 14, 1934.
JU.S. UNEMPLOYMENT PROBLEM
MONDAY, MAY 14, 1934.
NOTES OF THE DAY
BRITAIN'S DERELICT AREAS
Hongkong residents on Home leave, particularly those who make their headquarters in the South, have marvelled at the signs of prosperity, and concluded that
CONGRESS DOES NOT
MARCH FOR KERENSKY
By ERWIN D. CANHAM
enthusiasm about vising paying off all these losses,
The Very Idea!
STOCKS ON THE POT By George
stories of unemployment and dis-T IS hard to avoid writing with in 1891. Not content with ad-A happy note was struck tresa have been exaggerated. uncritical
on the head for the Even the average Londoner docs Mr. Roosevelt when he bursts the President asked if Congress first time within local Stock not realing the conditions under
into town. Objectivity was going to take care of all other Exchange history when at
bas made
By 11.30 a.m.
all the
which follow-countrymen live in back certain areas in the north. Many comes under a tremendous strain bad debts. Thus he turned on the M.P., though they know the as he grins at Congrean, or at the reductio-ad-absurdam on Congress. the opening of the new build- statistics, have failed to translate correspondents, and guides them The results were not immediate-ing in Ice House Street con- them into the realities of human along the linea ho likes with the ly apparent. For Congress does Viviality flowed more freely
It required a series of care- fully prepared newspaper articles comblued art of a symphony co- not like to be kidded quita so obvi- than market values. to stir the imagination of the ductor and one of those Imperturously, and inflationary sentiment House of Commons to a realistic able ring-masters now to be seen
vast headway: The debate
able on the "derellet areas." The regions were already stricken with the spring circus season.
drive for more money comes on bodied and fit members of the before the trade depression spread But it is not going to be all several fronts. Silver advocates exchange had clustered deter- over the world. In 1928, when smiles in the weeks to come. Itare perhaps the more persistent. minedly round the door whilst British industry was, in the main, will take more than a matchless and they represent not only the the chairman who was to de- flourishing, there Was in Great Britain a solid residium of more grin and a bagful of quips to solid silvor states, but have acat-clare the building open had al- than 1,000,000 persons without prevent Congress from Indulging tered sponsors throughout the ready anxiously tried the key so work. Since then the slump has in the most reckless currency ex- middle West. Speaker Rainey, that there should be no hitch in had devastating results.
periments, or to force it to pass cheered by his primary victory, is the proceedings.
corner now loud-in his demands for silver SPECIAL PLIGHT
legislation which is the stone of the New Denl. Yet the legislation broadening the base of The Jarver roblem has caused grin and the quips will help, and the currency, the special plight of the unfortun-help mightily. Their influence is ato workers in the derellet areas felt in two places. One is in the to be some extent overlooked.
At the moment, this ladationary
But now that general conditiona Ova! Study of the White House, are improving, and 700,000 more where recently senators and repre-drive seems to be the most disturb
Ing factor confrenting the Pre- Ko
By 11.45 a.m. the maimed and I had found a place in the out- skirts of the crowd which by this time had ceased talking shop and were whistling to make thele throats dry.
persons are in work than a year sentatives were summoned to ago, and there
are prospects of
Kramme. Maestro at politics that of the currency has pursued " possible not to turn to those towns
orthodox monetary of Durham and Northumberland, he is. Mr. Roosevelt's personal thoroughly and Scotland and South Wales, technique,
further improvement, it is im over the whole legislative pro-aldent, who since his devaluation | could be seen hovering respectfully
by
A large number of reportera
round the chairman as he pawed the ground prior to running at the
minute practice.
backed up his policy, with his Morgenthau jean-door with his golden key for a list
which appear to have no prospecta knowledge and ready grasp of ing more and more boldly toward of sharing in the general revival.
*
apent
As the large hands of the clock dashed feverishly after the little
Propelled by a dezen willlog reporters, the chairman was hurled at the door, key in hand.
. His little speech had been writ- len out for him but at the critical moment he lost it.
Bizo
of the koy,
The cause of this abnormal condi-saties, can do a great deal with the sound money school. Essen- tion is in each case the decay of legislators who are interested in tially, of course, Mr. Roosevelt a local basic industry. Around nothing so much na playing the himself sowed the seeds of mone hand there seemed to be a doubt the industries have arisen towns gums of politics perfectly at the he "tinker with the dollar boldly as to whether it would catch it up
tary recklessness. Not only did and villages whose inhabitants Impending hustings. They are and brazenly although, in retros- the twelve, but noon arrived Jived exclusively on their products. willing to take lessons at his peet, the consequences were not exactly as it had done 24 hours Some will be reopened, but more
feet.
catastrophic-but he is responsible
proviously, As the hour struck a will never work again; and thou- sands of families live in the
for the theory of two budgets, one number of the brokers could be The second place where viefalty whose men-folk have been warmth of the presidential amilo gress
the of which may be as large DR Con- en suffering from lolling longuca
pleases. He
nd fallen arches. also out of work for years.
and merry word le felt is right with a free hand, is still sponding down at the grass roots. People liberally, and his annual budget Al a moment when there is
NATIONAL EFFORT
have been talking In Washington message spoke of a $7,000,000,000 talk of the United States adopt-
about another radio speech. It deficit this year with complete: The population in such places has been a long time since the unconcern. ing a national scheme for the
is stranded, like Jetsam thrown President has settled himself at a relief of unemployment, it is of high and dry by the sea. The microphone and talked to the A good defence can be made out interest to take note of a Bill young persons, if they hear of
country. But the mood in which for Mr. Roosevelt's attitude, but a which is being sponsored by mirrate; but for the elder nien, that "I'm a tough guy," and as a halt now. Still, to congression- poking at the hole in the door jobs in other parts of the country, he told Congress at Union Station better case is obvious for calling
"Gentlemen," he said furtively Senator Wagner of New York skilled in only one trade, there sured correspondents afterward al thinking, the President should which had by this time shrunk to which, if put into effect, would is no choice but to stay where they that his reference to shark and not object if it duplicate his mone- below the greatly facilitate this end. One
are and subsist with their familles barracuda was just an allegory, is tary joy ride with one of its own. "Gentlemen. I need hardly tell. of the difficulties of the situn-
on the dole. With trade reviving precisely the mood which will win to make headway against such a tion is that the Federal Govern-in other parts of the country, it warm sympathy for him with the tide is manifestly difficult, and it why we are gathered here to- felt that the time has come to majority of the pisin American would surprise nobody if further for me... (putting both hands to
it f'day....
This is a great moment ment has no power to order make a great national effort to States
were required. On the key and turning hard)... to pass laws, but
people. the solve the separate problem of this
silver and Inflationary legislation, sponsor of the Bill under notice derelict population. Public
however, a veto would probably be have great pleasure, believes that it is possible to is aroused to demand that
Congress is fully aware of this. sustained in at least one house of despairing twist) make it highly advisable for like the problema of alum clearance, But the lesson needs to be rubbed Congress, backed, perhaps, by aing the building.
in declar- them to do so. Actually, the should be recognized as a special in, for every individual Congress tempting compromise. Dill is a revenue measure, levy past which should be dealt with in doing things which the largest, only problem which will require door bein" manhandled and in the
and exceptional legacy from the man is at this moment Interested
At this point the architect rush- The currency question is not theed forward to protest against the ing a Federal excise tax on employers to the extent of five that organisations should be set up stituency will regard as personal fore Congress goes home to repair have mislain the key in his pocket, hia con hard work as well as smiles be-confusion a rerorter was found to per cent. of their annual pay- on the spot to sift the possibilities favours. The veterans' vote, of rolls, but it provides that such taxes be remitted to the extent that an employer has paid into a State Unemployment Insurance Fund which conforms to certain minimum requirements. It is thus assumed that if the Bill were passed, States would rush
ใน
by a similar plan of campaign groups of voters In
vetoes
of developing new local werk, to course, was a personal favour to its fences and the President goos promote intensive cultivation of this group.
PRAYERS FOR PROFITS
sure.
to salt water,
The McLeod B to
(another
I
to keep at home the funds col-about to receive, may the Lord closed banks," he said in effectEspecially with a radio speech in need hardly tell you why we are
"Pay
the air!
all gathered togethered here....I declare the building open," tho It wasn't Kerensky who came chairman gave another wrench-and
the door, was open.
A
Inside the popping of champagne bottles could be heard as the boys the soil, and above all to attract pay off frozen bank deposits is an- Yet, in the light of Mr. Roomade preparations-to-revent the some of the new industrica.which
other colossally appealing mensevelt's new vigour and his loaves and Ashes miracle when the south. tend to be established in the
"lessons from barracuda and door should be opened. ahark," he now has the chance to But the President is against the take the bill. He brought his opposition en mass0,
upper hand. Congress, Meanwhile the mob threatened
can be unruly. But to get out of hand. right out into the open at his first Congress, taken in handfuls and "We are Indeed devoutly thank- jovial, mischievous press confer worked on In that pleasant Oval This is a great day for me, to adopt Unemployment Insur-ful for present mercies, but may I
Remarking again "Gentlemen, ance Acts, thus enabling them add that for what I hope we are means, pay off the deposits
ence upon his relura. "By Room, is a different propusition.; lected, rather than letting them. make us truly thankful." These and with flashing sarcasm.
to the Federal Treasury words might have been taken from them all off." And he proceeded Ko Hitherto, States which have a benediction. Actually they are
are to tell, with broadening wit, of back to Washington in the April wanted to pass auch Acts have part of an address delivered by hesitated to do so for fear that leading arms maker to his share how he lost $300 in a closed bank aan-and-rain. It wasn't Kerensky holders recently. The speaker hadn 1921, members of his family for whom 200 members of Congress they would place their own in- just alluded to the depression from lost large sums in the panic of marched exuberantly behind the dustries under & handicap in which the armaments business has 1907, and his father lost even more! Marine Band. competing with those of other been emerging no doubt swiftly States. Thus there has been in the Inst troublous year. general disinclination to move, Otherwise “present mercies" miglit and the majority is held back, be read a meaning a continua- as is so often the case, by a
tion of an all too precarious peace. In its context, however, the phrase minority. The author of the Bill bases his case on the fact referring to military operations in is more likely to be Interpreted aa that unemployment is a social the Far East, to the slaughter rather than an individual res
Over the Gran Chaco, to the ponsibilty, and he points out alarums in Europe. It is conceiv that the measure which he putsable that armamont hawkers, gath- forward would be a powerful in-ered together to consider their centive on employers to work profits, might speak of these things
for stabilised employment condi- na "mercies". Lions when they realise that they IRONIC HUMOUR are face to face with paying un-
Similar remarks may be found employment costs. The States, under this measure, would be other addresses. They mark as left wide latitude in framing it be the trade of arms with sharply as anything could-unless their own unemployment insur enemies in war time-the beauti- ance laws, as the Bill provides fully detached view with which only certain minimum, require- the arme vendor regards humanity. ments, the details, and even the They Illustrato equally well the kind of phan, being left entirely way in which the interests of one the States themselves. If industry in particular oppose the passed, it will be a distinctly What men
interests of mankind generally. new departure in American social welcome. What men call
fear, these interests legislation, both in subject mat these interests oppose. Yot' even blessed, ter and in the manner of virtual- arms dealera know the wordings of ly compelling the States to act prayers: "For what I hope wo on a Federally-sponsored Iden. are about to receive, may the Lord The effect would be, in the last even he were conscious of the ua truly thankful." But, as resort, to secure a nation-wide ironic humour of the situation in handling of the problem, which which he found himself, the speak is essential if any real impres-er of these words
added:
"And I alon is to be made on the ques- any this in no irreverent spirit." tion. Above all, it would once Maybe not. But no doubt many and for all remove the matter readers of his address, recalling from the realm of sporadic pri- the betrayals of peoples to the vate effort to the higher plane gods of dividends and counting of national action, where it real the millions who porlshed in the
last arms ly belongs.
makera' henven, will speak another prayer!
make
"For years I sat at home waiting for you to succeed, and now
you go to nothing but stug dinnera."
nasty aliuntion had been averted narrowly,
While the stock brokers were being human, a representative of this journal armed with a bottle of beer between a couple of sandwiches and munching a eigar, sought out the chairman and demanded an explanation of the contretemps.
"I am afraid it was entirely my fault, the latter confessed. "My hobby is collecting keys and I was in too much of a hurry to get the affair over. However all'a well that ends well", he added getting sausage roll into a half-nelson and turning his back on us for the next operation.
Going back to the office still hugging our sandwich between two bottles of beer we reflected on the frailties of human nature. We could not help wondering with some apprehension as to the date of the dollar in such an atmes- phere. Would it be inflated or just go bust?. If neither wo felt sure it would do something else or nothing at all.
Then there were the five loaves. and two fishes or was it two leaves and five fishes? They had scomed to go round alright, but then everything was going round. Even the dollar was going round.
It was,ovidont that we were walking in a vicious circle and that we were getting no nearer the ond.
Hours afterwards the Editor found us still clutching our sand- wich between two typewritera and dictating Tho. Very Idon to a life- size status of a bull,