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The
Thongkong Telegraph.
FRIDAY, OCT. 11. 1935.
AIR SERVICE PROSPECTS
Although there has been no outward demonstration of the fact, Hongkong has followed with the liveliest satisfaction the arrival and departure of the Imperial Airways plane on the
between Penang and this Colony,
|
TELEGRAPH.
FRIDAY, OCTOBER 11. 1935.
"The Very Idea"
NOTES OF THE DAY
UNARMED GUARDS
We are told that the unfortun- ate guard who was shot to death in the bandit raid upon the China Light and Power Company car on
Wednesday night, was unarmed.
We do not wish to criticise. We only wonder what useful purpose an unarmed guard on a "cash bag" serves. It would be cheaper, and na sensible, to adopt the system used for centuries by those who grow valuable crops and use a
Hcarecrow,
非
ALBERTA'S MYSTICISM
In theory and in the steps, at least the preliminary ones, to put it into practice, the social credit scheme of Alberta is one of per- plexing contrariety. It was em- phandled during the election campaign that no ald was ex- pected from the banks to help out in the establishment of the new economic propoan!, and yet it is to the banks that Premier Aber- hart is turning to give the first whirl to the social credit wheel.
IT TAKES A BANK EXPERT
APPRECIATE A BANK
ΤΟ
In the Old Days Ice House Street Merchants Traded Concubines For A Fistful of Rice
By Eddie Kelly, Loan Expert
WANDERING over the new Bank yesterday morning in between champagnes,
Eddie Kelly stumbled over a parcel that. looked as if it contained a bundle of banknotes.
large
So many suspicious characters, disguised in top hats, were cluttering up the For election purposes the banks place that Kelly decided the safest thing to do would be to take the parcel away
were portrayed as of no help to Industry and consumers. It was pointed out by Premier Aberhart- and his followers that the banke
with him.
In revealing this act of altruism; Mr. Kelly has taken some pains to point out "profit" by maintaining a scarcity that he did it solely because he didn't want to see the bank start off by losing uny value for their wares, that they of its property. carry out a restrictive policy and that "they are opposed to the general Interests of the com-
Arriving at his office, Mr. Kelly decided that the next best thing to do would
munity." Of course, the responsibe to open the parcel. bility uf office and the irresponsibility of pre-election
"I took an awful risk," he confessed. "Only the other day I was reading · alternnees are two different that millions of germs lurk on a ten dollar note. things. "Premier Aberhart บั้ม :
facing realities; before he
"I couldn't risk the lives of those husky co-workers in the Telegraph office was shooting at the moon," says and I intended, if the contents were banknotes, to burn them." Canadian contemporary.
now
The is, Aberhart policy
Tike the Douglas scheme, based on the
purchasing power is insufficient to
Fortunately, Mr. Kelly on, we decided to fill in the lot more potatoes on him. By de- assumption that the consumers' found nothing but some an- there and then,
grees he accumulated an enor- mous stock of bear skins, etco-
Came an earthquake. The had been souveniered by the bears died off in hundreds. For
buy the goods produced and the cient ledgers and financial Mr. Taggart was there, count- goods that are capable of being reviews, from which, he al- ing the H.K. & S. Hotel cham-teru, as well as potatoes. produced. The goal is to all the leges, he has derived the pagne glasses to see how many One method to be adopted is a following history of bank- crowd, we gave him a cheque want of a feed of potatoes the
oning.
Kap between incomes and prices,
national dividend calculated. industrial productivity
but dis-
tributed freely and equally to each OT skyscrapers,
HOT
individual in addition to any wage, salary
decree,
with the sellers com-
new
ping the issue of further credita
What's the linent measure for merchant.
idea of approaching the rich
"Look here. Master Gray- We had our first experience burn," he said, "I want to go with banks in our callow youth into the woad industry. What
for $250 in payment of last stone-club maker was too wenk month's account of $180, pocket- to maké stone clubs, and all the ing the change, which he handed potatoes grew eyes to, sec.. Since we drank all to us in nice, new banknotes. or dividend. Another
The depression was acute. remedy is to reduce prices by that champagne yesterday
We also saw several other The bear grower could grow no first of the experimental flights, pensated by Government morning we have alternated taipans who readily accepted our bears, and the only bull grower in the land who was making any credits free of interest charges, between being unconscious cheques in a similar manner.
profit was Eddie Kelly, designed to pave the way for the
and bank-conscious.
Which just shows you what a wonderful institution banking is. Then we had some black inauguration of a mail and pas- ACT OF INFLATION
Looking at all those massive
coffee, for which you can blame senger air service which will
When this is pointed to as an act Chubb doors and grilles mukes Hitherto our actual experien- that champagne. link us with the Motherland, of inflation the answer is that in-us understand what they mean ce in the matter of banking is After a few months of being Australia and other parts of the fiation would be prevented by stop when they talk about safe de such that if all the notes we without bulls and bears one of Empire. The exchange between
As soon as the, prices show a ten-posita. A crook would have had banked were placed end on the Peak pioneers conceived 'the Hongkong and the Colonial dency to rise. What a aimed at as much chance of getting into end they would reach..... Office of oficial despatches on
is a "just price" to be arrived at the vaults as Mr. Grayburn will the subject serve to throw into ratio of the financial cost of total with which we opened our ac-
by "reducing present prices in the have of cashing the dud cheque, alom? relief the immense advantages national production." How Alberta count with his institution. which will accrue to this Colony will do this as a province of the
Dominion of Canada,, remains to We became 80 full of chim- when, spurred on by the fierce about lending me 500 stone axes when the service is in full opera be seen. A correspondent in The pague and enthusiasm for bank pangs of love, we banked five to get started?" tlon. As to the date of its in- Manchester Guardian Commercial ing, as a matter of fact, that we dollars. Two days later we re- "Well, I dunno," said the rich- auguration, the Secretary of points out that the Alberta "Just gave him all our savings to mind, luctantly withdrew it, and our est man in Hongkong. "How
price is not of the orthodox State expresses the hope that it Douglas variety. Moreover, A five-dollar Chartered Bank account was closed forever until do I know that I'll get my 500
our back?" 538865SUUSSEUSES will be in the near future. Some source of the "sveinl dividend" re- note, three dollar cartwheels Mr. Grayburn wheedled
$8.80 out of us.. As a matter of idea of the time which will be mains under a cloud. "If," saya and eight ten-cent pieces. SSSSSE34¦gained may be gathered from the found by the unearned increment
fact if Sunday hadn't intervened "You know me," replied the the correspondent, "it is to be Upon such faith are mighty 'we might have had it out earlier. wonder. Tell you what. I've got twenty sacks of rice, a nice, fact, mentioned in the despatch levy' on all transactions, then the institutions founded. We paid
The history of banking in comfortable cave on the, Peak, by the Officer Administering the scheme would merely reduce pur-in our $8.80 without a tremor.
chasing power, and Mr. Aberhart
Hongkong is an interesting one. all lined with bear skins, and Government, that he received has failed to grasp certain im-
Later, however, we realised. The first local taipan to become I've also gol, six concubines, Mr. Malcolm MacDonald's letter portant points in the Douglas that we would want something rich accumulated his hourd very Three of the concubines are well scheme. He has falled to grasp to tide us over the rest of the slowly. Finding himself with domesticated and the other three that Social Credit involves the month, so using our new cheque a surplus of potatoes, he awop are so well trained that they creation of additional purchasing book for the first time, we got ped a few of them with neigh- grovel on the ground every time power to enable consumers to ob-him to personally cash a cheque bouring taipans in adjoining I wave my club. I let you amount of money."
more goods for I1 given for $50.
caves on the Peak for stone, have them if I don't return your clubs, bear-skins and whatnot. 500 stone clubs within six That left us with 59 biank
months. cheques in our new cheque book Nature pursued its relentless so, in order to save time later course, however, and foisted
York Building.
Chater Road.
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eleven days after it was signed in London, in spite of the fact that the latter stages of the ex- perimental flight to Hongkong were purposely slowed down. The present series of flights allow three days for the trip between Penang and Hongkong, The ability to. obtain more goods but subsequent flights will cut
for # given amount of that time in half. Eventually, of
money involves the creation funds which Can only the service between London and be secured by taxation, inflation Hongkong will be undertaken on
or by loans. Mr. Aberhart has a nine and half days' schedule, raising loans which are repayable commenced his political career by and the time will doubtless come, out of the future development of with certain parts of the route
Alberta's natural resources. This is contrary to the Douglas plan. covered by night flying, when The correspondent quoted even that time will be eclipsed. that, at the same time, the more A point which is worth stressing, thoughtful citizens are alrendy as indicative of the reliability of existing
worried sufficiently about their debts. However, the the Imperial Airways services, amount which could be raised for is that the first flight between such consumers' credits would test Penang and Hongkong was made posats.
the credit-worthiness of such pro- On the other strictly to schedule. It is also Alberta has not the power to in- hand. worth remembering that. Imper must feel a good deal of sympathy flate its own currency. The world fal Airways has just duplicated for this already harassed its London-Singapore service, (Alberta) attempting such
state providing bi-weekly flights. fantastic panacea, full of popular Thus do we see further evidence appeal, but choked with obscurity
and mysticism," of the speeding up of the means of communication between dis- tant parts of the world. Time a fortnight. All that has been was, not so many
lacking has been a direct link years ngo, when five weeks was the mini- by air with the Straits. Settle- mum for postal contact between monts. It is this link which will London and Hongkong. Since soon be forged, and inasmuch as then, the Siberian mail has been the experimental flights now be introduced and fast shipping sering undertaken are a prelimin- vices have been established, Jary to complete aerial contact whilst latterly we have had the with the Imperial Airways ser- joint steamer and air mail facili-vices, Hongkong la more than ties enabling postal matter to be gratified that they have been sent to and from London inside 'undertaken.
a
"Now, when we get home we can say that we saw nearly every
roof garden in New Yorit."
"Okay," said the rich johnny, "but I've got to have my cut. I' give you the 500 stone axes, but you've got to give me 600 axes in return."
So the woad merchant agreed. After a time, when another. stone-age merchant wanted some axes, the richest man in the world discovered that he had run out of them. But he knew that he had some considerable reputation by this time so he picked up a store from the bed of a nearby creek and made his private chop upon it.
"You take this stone along to. Master Dave Biggar. at the Chaste Cave, and tell him that I will pay him 50 stono axes when he brings it back, to me. When he knows that this stone is worth 50 axes he will let you have them."
(How do we go on now, said The pausing to wipe the swent
off his brow).
After a while Master Gray- burn found out that
so many cave dwellers wanted stone axes, and bearskins and concubines and things that he did not have. enough space in his old caved the Peak to accommodate them. So he decided to build himself a' bigger cave.
And that-is-how-we-had-go much champagne yesterday.