1919-11-12 — Page 8

8

LLOYD GEORGE IN THE

TOILS..

3

"Our beloved Prime Minister," as the Morning Post used ironically to describe him, retains the faculty of eloquent speech whatever else he has. lost. His address in the City Temiple on brotherhood, national and inter national, was a masterpiece for its immediate purpose. In the presence Puritans, Mr. Lloyd George returned

39

the

rising hope

of

the

STERLING EXCHANGE

PROBLEM.

HUM DRUM CONDITIONS IN

BOMBAY MARKET.

A Bombay message of October 17 says Sterling exchange, which has been fluctuating for a considerable

OVERSEAS TRADE.

THE CHINA MAIL.

GENERAL COMMERCIAL POLICY OUTLICED.

GOVERNMENT COMMITTEE'S

REPORT:

The report of the committee to examine the question of Government

·BRITISH INDUSTRIES.

Having just arrived in the Straita as Commissioner for the Federation of British Industries, I find myself bombarded with questions something like the following

"When shall I be able to get a British Motor Car." "When are your British manufactures going to ship such and such an article or such and

of Dr. Clifford and other eminent time past, has now settled down in machinery for dealing with trade and such a kind of machiney.” “When to his earlier manner when he the vicinity of 23. Otd. and the mar ket for the time being has assumed Stern, unbending Noncerformists, the humdrum appearance of pre-war the voice of Wales incarnate, Business people are now waiting the champion of reduced armaments, the chief raller against for the issue of the Currency Com mittee's report, which will settle Imperialism. As an example of re

the point whether the rupet is to be linked to gold or sterling, and If, as

version to type the City Temple oration is a fascinating study. It

days.

commerce was issued on September are British manufacturers going to 8. The terms of reference included) make this article.” Are British the suggestion that the Board of manufacturers going to let our late Trade should absorb the Overseas enemies come back and find that Trade Department and the War nothing has been done to capture Trade Intelligence Department, and their trade. should take over from the Ministry of Supply and form departments (such as the War Office) which have

I crave a little of your space to explain the altuation for the benefit of such of your readers who may fully appreciate the importance of reestablisting her export trade.

held the audience spellbound; such is generally expected, to the former, functions to hand over the Ministry | think that Great Britain does not |

is the witchery of an eloquent voice and an attractive personality. Away from the glamour of the orators presence the spell is broken, the charm evaporates, and the speech induced in the average reader cob. tempt rather than admiration. It even reminded him of Pecksniff and and in some moods of Chadband.

ments.

then at what rate.

The general opinion is inclined to the view that the rate cannot be less than the equivalent of 2s, taking into consideration that this approxi mates, the intrinsic value of the

Cross rate to

of Supply the control of raw ma terials held on Government account. Also that some joint machinery

Consular and commercial diplomatic services.

should be established to control the

The Importance of the export trade is fully appreciated as being the only way in which we can rezaver our lost position in the world's trade.

There are three very important.

resumption of even normal pre-war factors which prevent the immediate exports. I speak of quantities and not of "values"

The first is the fact that from 1914. to 1918, the whole energies of the nation, the whole of the material,

pee. At 29. the present exchange In the report the committee say, with regard to the proposal that position represents, therefore, a transition period from the rupee should be transferred to the Roard the control of the raw materials linked to atering to the rupee Both at the City Temple and in linked to gold, with Government of Trade, no difference of stew that amazing production, "The

manipulating the acquisition of the arose; and, accordingly, the com- Future" so named because there is rate of gold inversely to the American mittee gave their attention to the to be no future for it-Mr. Lloyd

maintain the exquestions of the machinery for George uttered irreproachable sent change equilibrium at 2s, and also

.commercial purposes in foreign The world cught to be knit by feeding the market with only the countries particularly the Consular in bonds of brotherhood; the nation requisite amount of Council Bills.

Service and Commercial Attaches to work of destruction. Every man.. ought to rid itself of class selfishness;

It is expected that it will be some and the crganisation at home, squalor, slums, drunkenness, unem-weeks yet before decisive movements especially the relations between the ployment, sweating, waste, carking take, place in exchange. In the Foreign Office, the Board of Trade anxiety ought to disappear from the share marke: there is a heavy de and the Department of Overseas civilisation that they deface and so mand for cotten mil shares, which an. Most people will say "ditto" to show a considerable improvement these aspirations. The mischief is over last week. Industrial flotations that Mr. Lloyd George thinks he has done his duty as a statesman by mere enunciation of them. But a nation cannot feed on rainbows. It is not enough to talk fine

a

Joseph Surface

Trade.

machinery and labour were devoted every machine, every ounce of raw material, every ton of shipping, was devoted to the prosecution of the war; devoted, in fact to destruction.

The next fact is that this destruc COMMITTEE'S CONCLUSIONS. tion has to be repaired as fast as pos« In their conclusions the committeesible. France, Belgium, Italy, England,. of the week include one chemical recommend that the Consular Service Serbia, Rumania, in fact all the works with a capital of one crore remain the control of the Foreign belligerent countries find them- and a cotton spinning and weaving Office. Further, that a number of selves in some cases with large areas company with a capital of 50 lakhs.proposals set forth in a scheme for of devastation and in all cases with reform and development of Consular roads, rallways, rolling stock and and Diplomatic Service, other than machinery needing repairs urgently. those which relate to the Trade.Com. missioner Service and Labour At taches, be adopted.

A JAPANESE LOTTERY,

sentiments. could do that to perfection. A statesman must act and not merely talk. The country is tired to death of emotions end perorations. It would gladly dispense with im

Before Mr. Lindsell this morning. passioned oratory in exchange for

a Japanese woman of No. 13 Wynd sobriety in government and efficiency ham Street was charged with running colossal national expenditure down a lottery without a permit and with to reasonable limits, Mr. Lloyd printing tickets. Defendant admitted George would do more to promote the second charge. the well-being of the masses of the population than be all the airy schemes with which he bedecks his speeches like a juggler playing with gilded balls in a country fair.

in administration. By bringing our

Let us turn from Lloyd George as the man of words to Lloyd George the man of action. Here we have for guidance Mr. William C. Bullitt, who was a member of the Intelligence Staff of the American Peace Delega. tión in Paris. Mr. Bullitt's conduct in revealing private and confidential conversations and documents is inde-

fensible, but the evidence he has giver before the American Senate Committee is not disposed. of by a semi-official description of it as a' tissue of falsehoods. These facts are established beyond cavil:-(1) That Bullitt, accompanied by another American, Linccin Steffens, left

The notice

posted up at the entrance which drew the attention of the passersby during the last few days, stated that each ticket was to be sold at $5, and the drawing was to take place after two month's time. The case was remanded to Saturday.

OPIUM CARRIERS.

A woman was charged before Mr R. O. Hutchison this morning with the unlawful possession of 75 taels of prepared opium. She was fined $5,000.

They recommend that the Board of Trade be authorised from time to time after consultation with the Fereign Office, to send temporary missions for special purposes to foreign countries, such missions to be under the con- of of the Embassy or Legation con cerned, and that for this purpose a sum be included yearly in the Board of Trade estimates

British representatives abroad should be recommended to keep in touch with the British Chambers of Commerce formed in the countries to which they are accredited.

With regard to matters at home the committee recommend that the Department of Overseas Trade con- tinue as at present under the joint control of the Foreign Office and the for general commercial policy and Board of Trade remain responsible | that it be the duty of the Department of Overseas Trade to give effect to that policy overseas. The housing of the three departments is recom-

Another man with the possessionmended to be in the same building. of 40 taels was fined $3,000.

than

CONSULAR SERVICE...

Further recommendations are:- (a) That the consular and com.

Lastly, there is the difficulty of changing over from war to peace production. It is a fact that the war ended unexpectedly by the sudden collapse of our enemies and found us with no preparations and no plans for the return to peace pro- ductions.

As an example of the last difficulty, the following may serve. One of the members of the F.O.B.I.manufactured before the war ploughs, mowers. agricultural machinery, road making plant, gas engines, etc. During the war this firm made amongst other.. things, gun carriages and mountings, bydrogen generators, poison gas ap- paratus, flame throwers, shells "and bombs, sea mines, paravanes, aero- planes and their engines, aeroplane bombs, etc.

It will be readily understood that again to reorganise the works, ob- the moment when every other firm tain patterns, 'jigs and tools, and at

in the country is doing the same thing, is not a job which can be done in a few weeks.

With regard to the question of the sapture of enemy trade let me gite the example of another member of In 1914, when the cry of "Capture German Trade" was raised this firm

the F.O.B.I.

decided to manufacture an article

MAN

WEDNESDAY, NOVEMBER 13 1919

"ANY men, although well equipped with every laxury as far as clothing

is concerned, overlook the importance of possessing

#

really useful Bath Gown.

Our stock consists of a large variety in Cotton, Flannal or Towelling, the prices

being extremely moderate.

MACKINTOSH

& CO. LTD.

Men's Wear Specialists.

16 Des Voeux Road.

YU CHONG

TRA MERCHANT,

35 Queen's Road Central, HONGKONG."

An allowance of 5% discount

¿

will be extended to tha 10th November, 1819, UN

TEAS sent to England for Christmas,

WEATHER REPORT.

November 13, 124, 15am-No`raturpë from Vladivostock, Japan or Tado-China. Pressure bas (normaäed: slightly at all roforting station

The depresion to the west of the Philippines bas moved northward.

An anticyclone is forming over thins. Rainfall for the #1 hours Hongkong ending at 10 am today, 0.00 Inah. fotal since Jandary Ith, 73.41 Inches. against an average of 81.13 inches.

Forecast for the 24 hours unding s 1000 on November 18th.

1.-Hongkong to Gap Hook. YE winds, moderate to fresh; fine

L-Formon Channal K.E windą. strong

-Boath coast of China between Hongkong and Lamooks. The same as No. 1.

4--South coat of China between Hongkong and Haloan. The same s

To. I.

Telephone 29.

ROYAL OBSERVATORY, HONGKONG, DAILY WALTHER REPORT.

盛章裕

NOVEMBER 13, 1919.—m

Station.

SOMETHING USEFUL

FOR YOUR CHILDREN.

BICYCLES FOR BOYS AND GIRLS. VARIOUS SIZES.

TRICYCLES,

COASTERS HAND GARS

AND.

SCOOTERS,

A VARIETY CONSIGNMENT JUST UNPACKED.

THE

EXILE GARAGE:

33-35 DES VEUX ROAD.

EUROPEAN CREDIT:

FRANCE FACED WITH SERIOUB PROBLEM.

Daily Telegraph writing from Paris The financial correspondent of the says that the question of the hour is

Wind.

Hour.

at Ben Level. Barometer

Humidity,

Directio

Foros

F'divostock da

Yamaron

Hakodate

Tokio I Koch! Yagasaki. Kagoshima Whima

fahijima

Sonia Taland

Weibatwed.6 0.0254 87

Hankow

(shang

Kinklang.....

Jhangsh

Shanghai

30.10

Jutzlaff.... 30:06:4

(harp.Pk.......) 7.4.20:04 58 88.

Amoy : 8 1.19.99, 66-84 Iwato

Talhok.....30.00

Trichu

Kosbun...

Precadores

#

29.52 29.12.

พ

$29.97 47

Jantone 30.03 Hongkong Jap Rock... Kaczo Wachow

Pakbod Haibo Phalien 7

Toamne

3. Bt. Jazze

29.93

parri 8 & 29.89 Dagupan

(£200,000,000) the advances from the Bank of England. Each one of the Legaspi

Manila.com Tacloban

J

M

contracting States would agree to avoid issuing loans in the form of lailo Treasury bills or short-term bands || Jurigao............ the Bank, which would add to advances from | 6905

Labuan but would under- take to reimburse before January

the depreciation of credit. It is a 1, 1921, any question, he observes, which over shadows everything else in the The Press echoes every day the business world and with the public.

general uneasiness. I have heard it termed a question of life and death

for France.

short-term loans

29.79

Hongkong Observatory, Nov. 13, 1919.

T. F. OLATION, Director.

issued up to now, and would not contract a loan of this nature except maximum to meet normal Treasury ahrenheit, on the level of the set in to the amount of £400,000,000 1. BAROMETER, reduced to 21 degra expenditure. France and England.obes, tenths and hundred th

1. TEMPERATUax, in the shade in de will agree respectively to reimburse

£80,000,000 until the debt is reduced

crees Fahrenbelt, their two great issue banks each year following 1924 in the sum to the normal exchange of services

of

1 HUMIDITY, in percentage of stars- dop, the armidity of air extorsted with

DIRECTION OF Wind, to two points. FORGOT WIND,ording to leadford Bosle.

noisture being 100. (b) That the War Trade Intel

way into the trade.

men and financiers the fact is over.

ELABORATE SCHEMES,

7

between the State and the Bank,

enable

here to

6. STATE OF WRATHKE, b blue sky, o Jetached eload, d drishing min, f. fog, gloomy, hall, I lighting, o overcast- peading, showers, g equal, r rain, 1 KDOW thandar visibility des, red

7 BA in inches tenths and bus-

fredth,

- HONGKONG TIDES,

compiled at the National Aimanae Office The tide table iven below has been in London from the result of the analysis Goryatlons taken by means of nat tomalla tide-recorsling machine in the atar Police Basin at Taim Sha Trul Juring the years 1909-6.

The seen of the table corresponds with

1 inches below mean ses-laval

To obtain the depth of water on

dd

they

ide gange at the Victoria Naval Yard ilust & inches, and on the gangs. at Lamont Dock, Aberdeen, add 10-feet insbee to the height given. In the table.

November 13 to 19, 1918.

Paris early last spring for Reasia on a mere idea of smashing Bolshevismmercial departments of the Foreign confidential mission; (2) that he by military force is pure madness." Office be transferred to the Depart which in pre-war days was of foreign payment of interest on the huge war The two problems to solve are the took with him a memorandum of the Yet this insane policy has been ment of Overseas Trade: conditions on which the Allied pursued for seven-or-eight months

origin. They built work and got some of their machinery. Their catalogue loans contracted or to be issued, and Powers-or at least the United at an enormous cost in lives and ligence Department be transferred to States and this country-were pre- money, with the net result that the Department of Overseas Trade which they had also prepared shew the growing difficulty in money ex pared to deal with the Bolshevik Bolshevism is now, if anything, except as to those branches which ed a better range of goods than the change with other countries. With that is £200,000,000, or passibly Government; (3) that he brought stronger

foreign

the exception of a very few public | £400,000,000, manufacturer had made. Clearly may be more conveniently tranWhen the factory was still only half looked that if French taxpayers had before.

FINANCE AND COST OF LIVING). back to Paris written proposals from Mr. Lloyd George gave way, ferred to the Board of Trade: Lenin for peace-proposals which, It

This is only an outline ola scheme completed in 1915, it was put on to is suggested. that he (c) That a Standing Committee er ition by the Soviet Republic of the Churchill and the Northcliffe press, relating to overseas tradeto con in the position in which it was in obtained in this way during and of living, which is immediately de among other things, included recogn did so under pressure from Mr. Board be formed for the discussion unition work by the Government. been made to contribute to the State proposed here to create a financial The firm finds itself to-day exactly expenditure through direct taxation alliance. Another author has a plan like the British taxpayer the millions to solve the problem of the high cost prerevolutionary national debt: (4) but though they doubtless helped to sist of the heads of the Board of 1915 with the added difficulty that it since the war would have lightened pendent on the question of exchange. that after his return he had breakfast bring about his surrender all the Trade, Freign Office and Depatment is unable to obtain machinery for to a noteworthy extent the debt of This adverse rate of exchange is due with Mr. Lloyd George, and talked evidence goes to show that the most of Overseas Trade with power to every other manufacturer in the the State to the Bank of France. In partly to the great excess of imports "over the whole matter with him in the formidable opposition to a peaceful call in representatives of other presence of General Smuts, Sir Maurice settlement came from our French departments, and that such Standing the countries of our allies are also order other words, the crushing load of over this theory to be an axiom.

country and additionally many in' Hankey, and Mr. Philip Kerr. The and Italian Allies especially the Committee or Board meet at reg lar ing machinery. But the firm intends excessive fiduciary circulation would The author of this suggestion rightly ipsissima verba of the Prime Minister's French Fureign Office. It is, too, and frequent intervals.

be now considerably reduced.. says that loss of confidence in the conversation are given in the manifestly unfair to hold Mr. Lloyd Bulit narrative; in their naivete. George alone up to obloquy because Cave was chairman, heard a number has the machinery it will fight its the consensus of opinion tends to the inflated

The committee, of which Viscount to stick to its guns and as soon as it

Instead of starting on this basis, national monetary system from

fiduciary circulation is frankness, and shrewdness these nothing came of the Bullitt mission. of important witnesses, including Sir proclaim their author. As

That the manufacturers of Great Proposal of a form of international another cause. The writer, who is read we seem to hear Lloyd George Delegation that Mr. Bullitt went to Trade, Sir Eyre Crowe, assistant Britain are fully alive to the import ficates which would regulate the tive for organising national and local de sor of the sounding in the Admiralty

wet was as a member of the American Auckland Geddes, of the Board of

currency, that is to say of gold certi director of the committee of initia- speaking-now holding up a copy of Russia. It was President Wilson Secretary of the Foreign Office, Sir formation of the Overseas. Section money exchange by the suppression resources, sees salvation in the crea-hart, which has been found to be 4 took ance of exporting is shewn by the the Daily Mail containing a wild who refused to see him when he re Arthur Steel-Maitland, MP, Depart of this

of the paper issues. This would free tion of international money for article on the Russian situation, and turned with Lenin's proposals, who ment of Overseas Trade, and Mr. which supplied

federation. The country the French State from at least a part exchange. The interest as well as asking Bullitt." As long as the Bri objected to the publication of his re Stanley Machin, president of the of all kinds to France, Italy-ment of interest, on the war debt.

war material of its heavy burden due to the pay the sympathy of British and tish press is doing this kind of thing port, and who failed even, to bring it London Chamber of Commerce.

Americans will induce them, he the United States, Russia, Belgium, how can you expect me to be sensible before the Supreme Council. Pre The committee say, in the body of

thinks, to adopt some such method about, Russia?" now regretfully sident Wilson's inaction is incom the report, that it would be an ob Greece, Brazil and other allies amount step in internal financial policy should means of exchange with equality Portugal: Japan, Serbia, Rumanía, One writer considers that the first by creating for France, the necessary exclaiming, "I wish I could send Bob prehensible What we are chiefly vious danger to establish a system ing in value to over £672,000,000 be the consolidation of the value of of credit to Cecil (to Kussia), but we have got to interested in, however, is the question under which the diplomatic and will be able to do a large export the bank note. The pre-war mone import products apsolutely required keep him for the League of Nations whether Mr. Lloyd George fought as commercial representatives of this trade. And ber manufacturers are Who that knows the Prime Minister stoutly as he should have done for country abroad. would be

determined to da it-Yours, etc.,

tary theory was the limit imposed during the transition period needed does not recognise him in these his own policy-whether, instead of acting independently and sometimes

on the issue of bank notes by the for reorganisation and to restore and other characteristic obiter dicta? boldly tackling the difficulties in his in different directions. The

necessity of retaining a gold reserve and develop her national productive- Mr. Bullitt paints Mr. Lloyd George way, he did not once more succumb Consular officers and commercial Commissioner for the East Indies The guarantee has vanished because ness. He proposes that an Inter- in his habit as he lives. "I am afraid with fatal case to his well-known

the world's stock of geld is not pro- Allied Commission should place in it must be admitted that his apparent predilection for the line of least

portionate to the mass of paper reserve the Treasury bills which Ger repudiation of any knowledge of resistance. There seems to be little the Bullitt mission, when the ques doubt that that is what happened. But in

money in circulation. A new limita- many must furnish to the Allies, and 1* tion of the issue of bank notes must issue a new international currency. tion arcee in the House of Commons in any case, he must bear the chief they were to be appointed and con:

be found The State cannor The inventor of this system, M. Jean on April 16, was also characteristic responsibility for the misguided trolled by the Foreign Office, which

Ex this unit itself, for no means Brushes, would term this new cur- of the great man. I say "apparent" deviations from his own Cabinet's their commercial work (which it is

The committee think that it is exists to prevent it from being ex- rency "Numis," as a handy name: repudiation, because Mr. Lloyd decision to withdraw British troops hoped will in the future form the undesirable that members of the per- ceeded on a future occasion. The only By this means 1,000 france gold George's reply was carefully word from North Russia which, with the most important part of their duties) manent staff of a mission should be solution at the present hour would would be worth £40 sterling in gold ed. It was technically true, but it same Cabinet's approval, took shape would be carried out for another made responsible to a department be a limitation resulting from an in- and $200 gold, 1,000 lire gold, and was not the whole truth. Economy in General Ironside's ambitious department. of truth has been practised before summer plan of campaign.

other than the Foreign Office, and it ternational agreement. The available 800 marks gold., stat The committee recommend that appears to them that such inquiries gold is smaller than the sum of inter. This would be the medium of ex when Ministers seek refuge in the shadowy borderland that separates Mr. Lloyd George said he does not sented on the Selection Committre deem necessary should be made The only step required is to make tween the nations France and Belgium In his speech at the City Temple the Board of Trade should be repre- as the Minister of Labour may national debts awaiting settlement change, the universal currency be official from unofficial information, hold a brief for the old-world order. for candidates for the Consular and either through members of the dipla permanent the system spontaneously receiving the largest proportion of but the unsophisticated public have Perhaps not; but he is not a free commercial diplomatic services, and matic staff, or by means of specialment at debts incurred by France in of buying power in America and Sarometer

created during the war for the pay. Numis will enjoy the maximum a wholesome objection to being agent. The disastrous election com- also on the promotion committee for missions. humbugged and the reputation of pact of last November bound him both of these services.

Allied and friendly countries. This England because they will receive a any statesman who is found our hand and foot. He has been unable

The committee arrived at the con can be done by organising credit larger proportion of German Trea-Bumidity.

fasperatare suffers accordingly. When Parlla to carry into effect his own policy in

clusion that the Department of Over reciprocally, which operation will sury bills. Exchange between the Direction of) ment meets Mr. Lloyd George will Russia; he will be equally unable to With regard to the question of seas Trade should continue, an at facilitate the ease and stability Allies will thus be restablished on have an unhappy time over this carry into effect his own policy at Labour Attaches, the committee say present constituted. It appeared to of money exchange. Some of equitable basis without loss to say: home. Though he wriggles, gyrates, they have considered the proposal the committee that there was great the points. In a coinutely elaborate All the money, that Germany will Mr. Bullitt's disclosures confirm and orates, he remains secure in the that there should be attached to the need for closer co-operation and more scheme of "Probus are these hand over to the Allies will be paid the impression that in the early part rolls. Small wonder that the country British Missions in foreign countries constant consultation between the Francewillengage herself to limit to in the new currency at 800 marks of the year Mr. Lloyd George took a is turning in aversion from his Gov. permanent Labour Attaches, respon departments concerned with overseas 3,000,000,000, the sum total of the per 1,000 francs, and the Germans · Priit com ale expertovné" vs "the 30th-79 sane view of the Russian question. rnment. Its doom is sure and not able to the Minister of Labour, but trade.

advances she might obtain from the could then return this Numis " As far back as fanuary he was fell distant. But where is its successor working under the Ambassador or There is a minority report signed Bank of France. England would agree currency to liberate their Treasury ing the Supreme Council that "the to come from?-Truth,

-T. F. Olazzos, Director, - Minister.

by Mr. F.Dudley Docker,

to limit to the same amount | bills.

Hongkong Chamevntory Nov, 11,1

Incident

G. O. BLACKER.

secretaries who gave evidence before for the Federation of British Indus the committee were unanimous in their tries. opinion that Consuls would be placed

Singapore, Oct. 27, 1919.

ап Impossible position 1

LABOUR ATTACHES.

มาม

17

-

anabi

HONGKONG "REGISTER,

Wind

Latest

Mathem

27.04

trarian

GAT

On to dabr að

2.95

-29.01 T

24

84

20

1

b

0.00 0,00 0.00