1919-12-10 — Page 8

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PHASES OF THE SILVER QUESTION.

IN AMERICAN SILVER EXPORT ASSOCIATION.

MOTION FOR APPEAL.

L

A NEW ANIMAL.

THE CHINA MAIL.

Sitting in Full Court this morning.. Here is the latest story of the Zoo:) their Lordships, the Chie! Justice. A little girl, who had spent her first Sir Willam Rees-Davies, K.C., and day at the Zoo, was asked by her the Puisne judge. Mr. Justice Gam-mother which animals she liked bear pertz, heard a motion filed by Toong. She replied:

Oh, the dangersos, mather." Silver producers in the United Yue. a ship owner of Shanghai, ask-

**You States have been discussing the ad-ing that the arbitration proceedings vantages of forming a silver export in connection with a case with the darling." association, under the Webb-Pomerere Castlefield Steamship Company be Act permitting the combination at stayed pending an appeal, producers and manufacturers in export trade. Senator Pitman, author of the wer Act fixing the minimum price of silver in the United States at $1.61 an ounce, is a strong advocate of Such a plant and he is, reported to have expressed his belief that within a week of the formation of the proposed com bination the price of silver will go to $1.29 an ounce on Wednesday it was $1.1924 In a recent interview the

Senator said:-

The Government have melted down ,300,000,000 silver, dollars, which is has agreed to replace with American silver or S an 'Ounte. I do not be Feve the Government will ever have an opportunity so muy silver to replace those dollars at the figure set, and I doubt that the Treasury Department, if it should want to replace that 8200000_1200, would ever take that

much silver out of circulation when not only the foreign countries but the

Mr. Eldon Potter, instructed by Me. W. E. L. Shenton. appeared for the plaintiff and the Hon. Mr. H. E. Pollock, K.C.. instructed by Mr. A.

Crew, represented, the defendant The facts of the case are tha: jade then was given on August 25 last in favour of the Castlefield Steamship Company of Hongkong for damages against Toong Yupo shipowner of Shanghai, in connection with an action brought on a charter party. The Court referred the amount of dam- The defendant ages to arbitration.

MY WEDDING DAY.

Though I am not, so far, even engaged to be married, I arrange my wedding, frequently, says a bride

to be in the Daily Mail.

It is a way girls have.

ANSWERS TO

CORRESPONDENTS.

A-No w.p.b. for such sugges. tions. You will see we used them

all. Thanks.

We like to think that when our mean the kangarcos.

G.M. Thanks very much for the turn comes we will avoid the mis-pamphlet. We are losing no time in I don't-I

she takes made by others at theirs. We mean

reading it. dangeroos."

look out for these mistakes, and say,

KW, WH., C.B.,-Such loans of And then it dawned on the mother "At my wedding. I won't have this that the little one had preferred the and tha: and the other, cataloguing books are very helpful, and much the items that have not pleased us at appreciated. All are safely returned. cages labelled "Dangerous "!

our friends marriages, and "I will

"Incrans."It was not advertising. bave this and that and so forth.

puffery, but a statement of fact, Call and see for yourself.

Barnum once emptied his crowded circus, outside of which several hundreds were waiting for admission. by the adroit expedient af putting up a board with these alluring words:

This way to the Great Egresa And the crowd who went in search of this mythical monster soon found themselves out on the street.

had since filed a notice of appest which CHINESE BANK IN USA, [is due to be heard on January 6 and this morning the defendant moved for the stay of the arbitration proceedings"

The early establishment of the until after the appeal had been heard. American Industrial Bank of China The plaintiff's are asking for secur-at New York with branches in Seat- it for costs as defendant resides our-ple, Vancouver. Montreal, and San Francisco, was announced by side the jurisdiction of the Court.

Me. Pollack intimated that he had a preliminary objection to take to the motion for security for costs, which

matter.

Messrs.

Already I have been present at September weddings that have not been above criticism in some details bu in others have merited praise.

For example, I am quite determin- ed not to be followed by nursery children at my nuptials. Either they water one's train with their tears: or they turn tail and depart long before: their duties are done, or they insist upon being accompanied by some such pet as a Teddy Bear or dell..

Anyway, they are apt to be nuis. ances and to detract from the in- terest which should focus on the bride. fashioned retinue of girl friends.

I shall choose, therefore, the old-

On the other hand, I am full of

Esu Ur. Yuen, privy counsellor of admiration for the ante luncheon the Chinese Cabinet and formerly wedding, revived by the royal bride. president of the Bank of China ont used to flourish, I am told, in the United Stares irself requires so much he contended, should rever have been the eve of his departure from Amer. days when marriages had to be silver coinage. Silver supplies are short. The production in the United He explained the position of Ica for Peking. The bank will be solemnised before noon in order to States will be about the same this Mesars Hastings and Hastings in the capitalized at $10,000,000 and share be legal, but was spoilt by the

Their

legal principals. Eelders will include both Americans dreary speechifying that followed the year as last. The nations of the world

feast of good things. Hansen and McNeil. in and Chinese. require metal far beyond the supply Shanghai were instructed by the de- The production of gold is not up to fendant and they could do nothing be to improve trade relations and ex- The prime object of the bank will the increased demand,, and silver must

here, except purely formal or trivial ped te business transactions between share in rebuilding the world, The

without instructions from China and the United States. China „United States is trying to retain her their principals. When Messrs. Hast-requires many lines of manufactured gold reserve by paying off adverse

ings and Hastings were informed of goods from America and in return trede balances in silver. and the

this motion for security they wrote can export large quantities of raw future for silver is, assured.

to the other side and put the whole materials to the United States and. position before them saying they could Canada. An era of industrial de

GOLD: DOWN--SILVER UP.

The current issue of The World's Work contains a long article, by Fredk. A. Talbot, on the stiver posi- tion in the course of which he writes: Silver is the metal of fortune. Fifty years ago it disputed with gold the right to recognition as the standard currency, Then Germany, intoxicated

Une or two

mariers.

not commit the defendant to anything.velopment awaits China, Mr. Yuen They only got one day's notice of the said, reeding railways and American motion.

capitals and enterprise to institute it. Order for security of costs was

Accompanying Mr. Hsu Yuen, to made and the question of costs. on

China are G. L. Stone, head of the the motion for security was reserved.

banking firm of Hayden and Stone The mction for stay of arbitration pro-

of Boston; Albert H. Wiggen, chair ceedings, was adjourned until to-morChase National Bank of New York man of the board of directors of the

RAILWAYS IN CHINA:

Give me a morning fixture for my

of speeches, and then a dance quite wedding, then a "breakfast" shorn in the time honoured manner of very ancient days and recently revived, with me and my bridegroom slipping out after a while to take our fight towards the honeymoon.

I am determined to fly, literally, after my wedding, but not, of course,

aline.

With respect to my wedding dress, it shall have a tremendously lony train. Several of my girl friends. who were married early this year ordered trains on the chance of evening Courts being revived at royal garden parties supervened, Buckingham Palace. And, though and E B. Bruce, president of the they found the trains immensely Pacific Development Company. They useful, capable of making almost a will study financial, economic and second gown. One must be practical industrial conditions and arrange a as well as far seeing in these days, system of credit between China and for, unfortunately, parents are apti

to be a little parsimonious

gs to trousseau expenses.

I am going to take a very firm line concerning my wedding presents. Foolish fripperies, such as my pra war married sister still keeps stuffed a cupboard unused, I cannot

What I shall indicate when I make

America. The

Chinese

contemplating..

the

EFFECTS OF LARGE EXPLOSIONS..

accept.

my list of "wants" will be such expensive necessities

kitche

chairs, pots and pans for cooking, and household finen; for I know. my parents will gladly waive the old prerogatives, long in wobbly condition, of stocking the bride's dowerchest with the latter.

Of cheques I cannot conscienti ously approve. They are a modern method of shirking responsibility, and too often painfully inadequate to the demands of the recipient.

with success at arms, in conquest, and row the harvesting of indemnities, plump- ed for gold as the royal metal. The effect of this startling decision sent the value of silver tumbling. The silver sitearian was aggravated from the tendency throughout the world to adopt the gold standard.

The British Consul at Nanking, re-

government is countries declined to go the whole ports in the Bount of Trade Journel

construction of 20,000 miles cf railroade way. Thus China declined to be emp-that the Lunghai Railway will shortly

and is also planning on repair braced in the new movement, but then reach Skenchow. in. Honan, where it

roads and China. in the eyes of the civilised will up a portion of the Yellow River, ing

canals through world, was regarded as a poor nation, which is navigable as far as Yumen- out the empire, the distinguished In India the white metal retained the low, and also the Wei River to Sian-aré ample protection for loans to China's resources financier said. high appreciation it has always-held. This, it is expected, will increase develop the country. She has a War brought the degradation of silver: the volume of goods flowing into the thousand billion tons of iron alone war has likewise brought about its fienisin-Pukow line, and the engi- and more than that quantity of apotheosis. To-day the world is being neer-in-chief of the former railway coal. ransacked from pole to pole for fresh has been visiting Nanking to see what silver supplies which are not forth can be done to relieve the congestion coming. The demand from the East on the Pukow Railway, which, in has forced up the price to such a turn is causing a blockage on the; level as to render the English shilling Lunghai line. It was, explained to a commercial product. Meantime gold him that the congestion was not caused has declined steadily, in value. This by any lack of shipping, but by the retrogression is not due to the fact monopoly in the carriage of goods that the yellow metal" has fallen in exercised_by_the_transport companies. At the recent meeting of the British public estimation, but, its price being who insist that cargo coming down by Association at Bournemouth, profes Exed by law in this country, it has the Tentsin-Pukow line shall go for or Turner referred to the study, by dings of wartime fostered forgetful- Because the hastily arranged wed- ceased to be regarded with the trad-ward to Shanghai by railway and not the late Boris Galitzin, of the records ness upon the part of those who ing importance with which it was by the river. The Shanghai-Nanking of the explosion which occurred at formerly invested. The actual mar-Railway is apparently quite unable, in Okhta. 8 miles north-east of Petro might have sent presents and did ket value of gold has not moved by a addition to its own local trade, to act rad, on April 19, 1915. The shock not, I shall, in consideration of the hardness of the times, revert to the as the sole outlet for the stream of was recorded both at Petrograd and old practice of sending out my at Pavlosk. and there were simult invitations a month before the wed only a small change in air preasure. too, primed in silver upon rough- "aneous barograph records indicating ding. They will be proper invitations however, of 0.3 mm. As regards edged paper, not a mere " All friends this feature Galitzin had pointed out that barographs, placed as usually in of wholesale bidding, but a befitting will be welcome at the church" kind sheltered buildings for routine work, inauguration of an ideal wedding resulted in a huge demand. the dis- The situation will, of course, be were not suitably mounted for re bursements under this heading being come much aggravated by the con- cording sudden shocks. The chief

day. extremely heavy. This pressure hap- struction of the Pukow-Sinyang Rail point was, bowever, that the origin pered to coincide with a steadily fall-way, which will form another tribute of the earth-crust ware ing output, due in the withdrawal of ary to the main stream. With the distinct on the three records (N.S. CHEAP RAIL TRAVELLING, labour for the fighting forces. Then completion of that and other lines on and EW. components, veriical com- the Chinese and Indian markets com.the south bank of the Yangisze.porent), whilst a second shock 70 menced to embark upon huge pur- Pukow must eventually become a port seconds later was very distinct. is regarded essentially as a commodity, importance Hankow and, possibly.sions; but there was only oue, and Arabia, has recently been opened, Both in India and China gold for ocean-going steamers, rivalling in Galitzin first thought of two exple-port in Arabia, to Lahel, the capital whereas silver is the necessity, there- Shanghai. Its progress is for the the closer study of the curve:

single penny. It is arbitrarily fixed.

Why has it become necessary to traffic coming down from the North. hunt the world for silver? Various Goods are piling up in the godowns causes have exercised an influence at Pukow and at other places along the upon the situation. In the first place line, whilst steamers are clearing from the practice among the Allies to pay the port with hundreds of tons of the Sighting men. in silver natursily vacant space.

chases.

by completely reversing the situation present, however, entirely blocked.

as applied to the rest of the world,

The result is that the world has to continue to exert itself wringing silver from the soil to feed the myriads of Eastern hoardings.

WRONG METHOD OF INDIA OFFICE.

was not

A railway from Aden, the principal

of the Abdali tribe in south western

convinced Galitzin that the second states the American Commerce Re violent disturbance was due to the ports. The road is about 30 miles in air wave (a rarefaction wave, it length, and is the development of a proved to be) striking and shaking short military line built from Aden So far as we are concerned in the the hill on which the observatory to Sheik Othman in 1915 to sup- East. surely there must be scrne stands, in spite

ply British forces "operating from of the fact remedy for the hoarding, and it may already mentioned that the air the latter place against the Turks. Presiding at a rubber shareholder's perhaps be not impossible to convince pressure did not vary much. The The railroad was built by the Royal meeting, Mr. F. A. Govett said :~- the native that Government paper curves which Professor Turner er Engineers of the British Army, and The method adopted by the India rupees are at least as good as silver hibited showed first the alight the first few miles were built under Office to me appears all wrong. The currency, if not to hoard, but ar premiereseismic tremor, then the earth-shell fire from the Turks. At the par value of the rupee is Is. 4d., and sent he insists on hoarding gold. The quake waves on which the tremor present time one train a day each the India Government goes on buying basic cause of this hoarding really was superposed (the microseismic way is operated, and these trains are silver at steadily increasing prices, seems to be that the old conception embroidery soon becoming less well patronised. The passenger rates and instead of trying to relieve the of the rupee as a measure of a weight marked, however), and afterwards are approximately 3 cents a mile for position of silver by pouring in gold. of silver, silver being the real cur the second, far more violent shock first class, 1 cents for second class, which the creditor nations at times rency of the native has outlasted ali ascribed to the airwave. Such an and cent for third class. Freight almost refuse to take, as they have too these years of fixed exchange at 15. effect. Professor Turner added, had rates on coffee and skins average much, they offer a wholly insufficient 4d. The explanation of this Bxed ex- also been observed by Mr. J.J. Shaw, about 4 cents per ton mile, whereas premium for gold as compared with change having been successful for sc On the curves which Mr. Shaw sub they average 20 cents per ton mile silver. The gold embargo in India long. thirty years or more, is that sequently showed, the microseisms by camel caravan to Aden. was placed in order to prevent the throughour this period the value of and the other features mentioned hoarding of gold. Now it is of vital silver in the rupee was less than is. could be plainly distinguished Mr. necessity that hoarding of silver should 4d but with rising values, and Shaw had taken these observations cease and that the price of silver directly the silver, in the rupee was in a dug out of his own near his should fall back. There is no longer worth more than 1's, 4d, the hoarding house in West Bromwich, and he

other experimenta į or any, objection to at once began, and it looks as if the had the hoarding of gold, and it seems to silver rupee might go out of circula-with two apparatus mounted 70 ft. me that the obvious course is to slap tion. When we may get free from apart, and later with a base of 2 into India all the gold. that can be this fearful penalty of the silver com- miles; if a base of, say. 10 miles ralsed. The result of that should he plication of the problem of the ex were available, he said, there should an arrest in the rise, and fater & changes it is not possible to say steady fall in the exchange value of therefore we must face the position the silver currency, the rupee. With- and do the best we can.

now the sante,

out the embargo gold would have......nt.

any rate. done something to lessen

in the situation would at least be mid-

the demand for silver, and one factor & WALLA WALLA" bonte are now and fast. Get fhom at Blake Pier.

gated, if not settled-that is to say,

the boarding of silver,

made

be a sufficient interval between the

THE SINNER

WHO BECAME "SAINT AND THE SAINT WHO BECAME A ́SINNER.

BILIOUS HEADACHE.

air-wa effer' to settle that ques tion. We may perhaps add that in the terrible Halifax explosion of 1917

El that is needed is to correct the the seismograms also suggested three bilousness and the headache dis explosions' when there was probablysproera. Taka Chamberlain's Tableta only one, but the two additional and you wil soon be as well as ever. shocks were hardly air-wave effects. For sale by all Chemists and Store Engineering,

koopers:

A. WEILL.

SUCCESSOR

SENNET FRERES

JEWELLERS, WATCHMAKERS

AND

DIAMOND MERCHANTS.

Large Assortment of XMAS PRESENTS of the Latest Paris an Designs now un view,

TEL. No. 634.

HONGKONG HOTEL BUILDING,

HONGKONG.

WEDNESDAY, DECEMBER 10, 1919,

NOTICES,

CASHMERE

HALF HOSE

We have just received the largest selection of CASHMERE SOCKS that ever came into our store (and that is saying a good deal).

We mear what we say and our selection wilt back op our assertion. Plain colours with or without clox and the latest fancy styles are included in our assortment.

Prices $100, $1.25, $1.50 up to 32.50 per pair.

A LARGE SELECTION OF GOLF HOSE

MACKINTOSH

& CO., LTD.

Men's Wear Specialists.

16 Des Vœux Road.

A most pleasing and acceptable present for friends as home is a parcel fol ¿China/Toa either for Xmas, New Year, or any time. Messrs. Yu Cheng The Growers, Dealers, and Exporters can supply splendid Teas and send thom Abroad for their Customers BO. sa to save them trouble.

YU CHONG,

85 Queen's Road. Central, HONGKONG.

Telephone 29.

盛章裕

HONGKONG FUND FOR

DEVASTATED FRANCE.

PANSY DAY

FRIDAY, 19th DECEMBER,

Street Sale of Fansies in the Morning,

GRAND MASKED

BALL

at Volunteer Headquarters, Garden Road, at 9 p.m.

Admission $5.00 including LIGHT REFRESHMENTS.

izes will be given for the most original dominoes.

CABARET

SATURDAY, 20th DECEMBER,

at Volunteer Headquarters -

TEA, TOMBOLA, THE "EVERYTHING" STALL, and the EVERYTHING ELSE” STALL. Also continuous

VARIETY ENTERTAINMENT

including Cinema Display. DANCING : 3 p.m. to midnight.

CABARET

"DANCE FOR FRANCE"