1920-03-02 — Page 5

Page

TUESDAY, MARCH 2, 1920.

POPULAR FALLACIES REGARDING EXCHANGES.

But

THE CHINA MAIL.

ALLEGED MANSLAUGHTER PROTECTION GONE MAD. BILLIARD CHAMPIONSHIP.

At the Magistracy, yesterday after- noon, evidence was entered into the case in which a Chinese is charged with the murder of a com- patriot, at Firs: Street, West Point,

Before proceeding with the case, the Police, on the instruction of the Crown Solicitor, dbtained permission from the Magistrate to amend the charge to one of manslaughter.

A SLEEPY WATCHMAN.

A more inchoate, -compacted At the V.R.C., last night. W. Hall) The Indian watchman of Messrs. measure has never been introduced met and defeated Wong Po Keung, Mobideen & Co. the jewellers who into the House of Crmons than the in their billiard match in connection were recently robbed of money and Imports and Expors Regulation Bill, with the annual competition for the jewellery to the value of $26,000, for which "the Great Auk," other Billard Championship of the Colony. was this morning charged before Wise Sir Auckland Geddes, is respon- He won by 116 plonts. For quite a Mr. Smith with being asleep whilst sible. Its avowed abigets are to pre-while the match was very close, but on duty. He pleaded "not guilty." vent dumping and to protect "key" Hall gradually drew ahead, and won

Lance Sergt. Andrew's said at about industries from the blighting blast of rather comfortably. The scores were: 4.30 a.m., he went on his rounds to foreign competition. But it seeks to Hall 500, Wong Po Keung SSL Hall's see if the watchmen were at their achieve these objects in the most highest break was 25, and bis posts. When he came to Mohideen's clumsy and tortuous way that the eponent's 21.

Phop, he called out to the defendant,

Witness mind of man could conceive. It is Tonight E. Guimaraes will play but received no reply. impossible even in this crude and P4. Yuanovitch. It is the opinion struck a match and found the de credulous House that so preposterous of many that the winner of this fendant fast asleep in his chair. Witness woke him, took his number a Bill can ever påsa into law. Nevermatch will be in the final.. was there such a target for attack.

and reported him. If there is any critical faculty, "left in Parliament this Bill should, in the LATEST SHIPPING NEWS. second reading debate, be riddled. beyond repair..

I am not a-fanàtical Free Trader, always ready to ride a particular theroy of economics to the death.

ARRIVALS

The sa Maru." Captain

His Worship imposed a fine of $5.

TO-DAY'S ADVERTISEMENTS.

T. E. GRIFFITE, LTD.,

bare this day OPENED.

i

not forget that Free Trade was to The sa "Longsang Capt. J. UW OFFICE, 25 10. Chater

Road, Bongkang.

We should very much like to share the enthusiasm of the Hochi for the wisdom of present-day British finance. The article finds a deep astuteness in the depreciation of the pound sterling, and proof thereof in the on Feb. 15, by beating him to death trade statistics. Unfortunately there with a bamboo pole, in the course of are very good reasons for believing

Right. that the evidence does not point in the direction indicated. The Hoch points indeed, to the seriousness of the £50,000,000 interest due annually on American loans rising through depreciation to £70.000.000. It says nothing of how the interest on money

Outlining, the case for the prosecu due Britain by her debtors is affected, but that is the more important tion. Inspector Macdonald said the act matter of the two. So far we was commined during a fight between bave seen no statement as to deceased and prisoner, over a Ettle the manner in which either set hey. About 3.30 p.m. on Feb. 15, of loans is to be repaid. Were deceased, prisoner and two others they ordinary loans they would be were in a cubicle at 52, First Street repaid in the ordinary currency of and prisoner asked a boy to go out It never seemed to me that the last S. Krosse. 2494 tons, arrived yester the creditors of the lending country and pawn a cap for him, as he was word of economic wisdom was day at 4pm, from Mike with 3078 and the rate of exchange would

The boy refused to utteret by Richard Cobden. I can-tons of soal shon of money. then be a matter of great moment do as he was told, as the man had on Cobden only one aspect of a political to the borrowing country,

a previous occasion slapped him. A these are, for the greater part, loans minutes later deceased asked the and social creed of laisse faire which Simpson, 1,093 tons, arrived yester from one Government to another, and there may be an arrangement to boy to pawn a jacket for him, and the has wrought much evil in our com-day at 11.05 am, from Manila, with

country like Great Britalo, relying general cargo... the money was borrowed by Britain went to the pawn-broker and, receis-so largely on foreign sources: for materials, raw

The s.s." Hokuto Maru,” Captain to lend to her Allies, and the seconding 40 cents, he returned to the house. her

of trade is as vital N. Sudzuki, 2260.92 tons, arrived: borrower probably had better terms When the boy lef the premises pri- freedom

to On this point we isoner went downstairs and apparently as is exygen the than the first..

human yesterday at 12 noon from Balikpapah have sought information in "The waited for the boy, and when the lad organism in short, the condition of with 348.27 tons of general cargo

De her commercial health. A Free and 2 bags of mail. War Cabinet Report for the returned prisoner struck him.

find that ceased heard about.ir and told the boy Trader is not obliged to defend year 1918" enly to

The s.s, "Wheatland Montana,* Chapter XVIL, "Financial Sum. nor to be afraid of prisoner as he would dumping nor to belittle the im rary," gives a list of the debts stand by him. This evidently annoy-portance of "key" industries. But Capt. H. W. McNelley, 5.151 tons, awing to Britain, but only skatesed the prisoner, andi words were pass-he is entitled to say that the dumping arrived yesterday at 11.40 a.m. from Lightly over certain unspecified ed. A quarrel ensued and the chief evil has been grossly exaggerated and Kebe with 400 tons of steel, salt borrowings in more than half a tenant of the house ordered the com- to scoff at the dictum of a Pro-herring, sails, wire and merchandise.. dozen countries oo not unfavourable batants out, telling them to fight on tectionist M.P., Mr. George Terrel!. terms." If the loans are all repay the streets. The two men went cur, that all our industries are "key" able in the ordinary way, it will be the prisoner arming himself with a industries. A year ago, in his memor obvious that Britain will lose very bamboo-pole and the deceased with a able letter to Mr Bonar Law, during heavily by her diminished exchange.hroom-stick. In the street the alter the General Election campaign, the The United States is the chief creditor. It matters little to Britain whether cation was resumed and the weapors she has to pay £50,000,000 interest were freely used. Prisoner was seen. It is necessary that security should

The sis. "Pak Wo," (Capt. Dabl) or £70,000,000, for both represent to strike deceased on the head on not be given against the unfair competi the same number of dollars and the less than three occasions. When de- tion to which our industries have eailed for Ningpe and Shanghai at same amount of gold. The value of ceased fell to the ground in an uncon- been in the past subjected by the 6 am today with 1200 tons the collar has itself declined, so on a scious condition prisoner man eway. dumping of goods here, below the general cargo. gold basis, it will be easier to pay the Deceased was taken into the house actual cost of production. $250,000,000 than it was before. where he remained unconscious, and But if Britain is to receive from his brother informed the Police.

ceased was removed to the hospital and died the next day. Prisoners was then arrested.

repay them in gold... A large part of boy readily agreed to do this. He/monwealth. But I hold that for a 139 bags of mail and 1,221 tons of DIXON are authoried to SIGN for the

2

De-

Dr. To stated that death was due to fracture of the skull.

Mr. Smith remanded the case this aher.con.

till

food and

Prime Minister said—

DEPARTURES..

The ss. "Wuhu (Capt. Roberts) sailed for Shanghai, via Swatow at soon to-day.

of

Massas, R. J. HALL, and P. A.

Company in Hongkong per procuration.

TE GRIFFITH, LTD.

Let March, 1920, Shameen, Canton.

THE COMPANIES ORDINANCES

1911-1915.

THE KUNG ON STEAMSHIP COMPANY, LIMITED,

NO

OTICE IS HEREBY GIVEN pur- suant to Section 188 of The Companies Ordinance 1911, that GENERAL MEETING of the MEM BERS of the above named Company will be held at No. 240 Queen's Road Central, Vietoria, in the Colony of Hongkong on TUESDAY, the oth day of April, 1920, at 2 o'sicck in the account laid before the Company bow- nfternoon for the purpose of having en ing the manner in which the winding has been conducted and the property up Now in this Bill the selling price

of the company disposed of and of in the country of origin is taken as

having any explanation that may be the test, often a vastly different thing.

given by the liquidater and for the from the cost of production, There

purpose of passing an extraordinary is a similar deviation from the Frime

resolution disposing of the books ac- Minister's undertaking in regard to The B.s. Liangchow," (Captaincounts and documents of the company "kay" industries, defined by him Hooker) salled for Bangkok via and the liquidator. last November as 'those on which Swatow at 10 am to day with 560 Dated the First day of Mareb, 1920. the life of the nation depends." Cantons of general cargo. tithephone, hosiery, latch, needles, gauges, and gasmaniles be so classi

The

3.5.

"Chinking," (Capt. Thomson) sailed for Shanghai Via Amoy at 6.30 am. te-day with 2000 tons of general carge.

TU IU SAEUNG,

Liquidator.

REPULSE BAY HOTEL

WEDNESDAY, March 3rd,

TEA DANSANT from 4 to 7 P.M.

· DINNER DANCE from SP.M. SATURDAY, March 6th,

.:

TEA DANSANT from 4 to 7 PLN. DINNER DANCE from S 13. -

SUNDAY, March 7th, ORCHESTRAL CONCERTS, Durring

PUBLIC AUCTION.

(FOR LOCOURT Or far congranzo),

A

SATURDAY,

March 6, 1920, at 10.30 a.m.,

at their Sales Rooms, No. 3, "Der Voeux Boid, Corner of

*Ice House Street,

Fawn Pedigree Pomeranian

bitch Puppy about five months old.

HUGHES & HOUGH,

Auctioneers,

her own creditors approximately $50,000,000 interest year, it will be no consolation to her that she receives 50 francs to the pound instead of 25, What is of moment to Britain is that her creditors will be able to buy for a small amount of gold enough Bradburys to pay the interest while it will take a much

fed? Yet these are scheduled in the When American steel is offered for larger amount of gold to buy the dollars (depreciated as they may be) za up in the same ratio, and the Bill, together with synthetic dyes sale here below its selling price in to pay the American creditors. Much proprietors suddenly discover that and drug, optical glass and labora- America are we to refuse that.

goods the im- proffered boon even though our of Britain's credit, then, depends they have been manufacturing at a tory porcelain. as

steel manufacturers cannot upon the method of repayment of loss, just as their employees have been portation of which may be prohibit Own loans whether repayment of either living at a loss, and they have to ed" Even with regard to essential supply the home demand? I am "key" industries like synthetic dyes told that some of the goods in this hand is to be according to rate a raise pay to £10 and prices to £143.

case where and optical glass-for the manufac-schedule of forbidden imports cannot exchange or in the actual gold Now this supposes a currency (or equivalent weight of everything is absolutely automatic ture of which this country is naturally be obtained at the present time in as well adapted as Germany-it suficient quantities in this country. bullion) of each creditor country, and differences are adjusted as soon

as discovered, with expert accoun would be better to protect them if that is so, is it not folly to forbid Nothing is ever stated on this head. If the rate of exchange er-tancy and complete goodwill. What while they are struggling to their British consumers to purchase them ters into the calculation, then those really happens is that the manufac feet by a Government grant-in-aid abroad? These restrictions and pro- control of British finance are turer curses his employees for hold than by the method of hostile tariff hibitions are the outcome of a false Exclusion of the theory of economics. International throwing away hundreds of millionsing the pistol to his head just when or prohibition. for the sake of the convenience of the shop is full of orders, the men go foreign article tends to keep up prices trade is an exchange of goods. Tifin and afternoon Te issuing unlimited Bradburys. The on strike, and more is lost than ever. and to remove from the home pro- When you buy, from the foreigner you must also sell to him. Foreign only conceivable use of unlimited The employer may not see it, bat ducer the incentive to excel..

But the glaring faults in this Bill goods dumped here can only be paid Bradburys is to cheat the domestic what he is actually trying to do is bondholders by repaying them in a to fulfil foreign orders by means of are to be found in its machinery. for by sending out British goods or depreciated currency; but the repay sweated wages. What really hap Hitherto the open ports of Britain performing British services. Imports

THE Undersigned, have received ment of domestic loans is only a trans. Pens also is an extensive disorganisa- bave acted like a magent, drawing create exports.

The elaborate. and intricate unions to sell by Public fer of money from the taxpayer to the tion and demoralisation of trade and to themselves by an irresistible al bondholder and makes no difference a permanent less of business. The traction, commodities of every des- machinery of this Bill seems to have Action to the national wealth. If it were advantages gained by the deprecia-cription from every continent and been specially contrived in order to All this is now to be put impediments in the way of found impossible to meet the tion in exchange are that the manu- every zone.. domestic obligations the issue of facturer advertently sells out his changed. The free movement of foreign trade, In operation it will- unlimited Bradburys would be pre-stocks at loss, and receives a number trade is to be impeded at every prove as detrimental to business as ferable, even from the bondholder's of orders which he cannot fulfil. The port by regulations, rules, cer- did the system of licences and pro- and 2 legion of of hibitions during the war. For those

oficials. point of view, to repudiation; but disadvantages are that himself and tificates,

At any there was the justification of neces the existence of foreign loans makes his employees are impoverished and interfering such a dubious method of dealing his business is ruined. And yet men moment a steamer in London, Liversity: the Government wanted to with domestic Habilities worse than supposed to be of great brainpower pool, Glasgow, or Cardiff may be economise tonnage. For these new

gravely discuss the great advantages held up because of a suspicion that obstacles there is no justification. One useless.

The Hochi considered the relations of depreciating the exchange. It her cargo consists of foreign goods One of the mischiefs of the Bill is its to be sold in this arbitrary procedure. Nobody can of the depreciation of the pound ster says something for the high reputa- intended ling only from the point of view of tion of British finance that though country below, their selling price tell beforehand what ships may be

or held up, or what duty may be im repayments to America-the only every sound principle has been set at in point of view that does not really nought by statesmen who knew America-no distinction is drawn posed on the imported goods. Un- matter. The other point with which nothing of finance but were ready to between ally or enemy. A sworn certainty always paralyses business. is required from Far better to have a regular tariff on it deals is the effect upon foreign adopt any, expedient, however ex- declaration"

consigner of. the goods, all imporied manufactures than un- trade, and here too it echoes the usual travagant, to win the war (and any- the

a valid certificate from certain imposta dépendent on the phrase and consequently draws an thing, it is true was better than losing

proper" officer " (meaning caprice of a committee or the whims unwarranted conclusion. There is the war), their very excesses are dis- the just one grain of truth in the idea cussed, not only by the Hochi but even the British Consul) on the other side, of an official. And what has be that a low rate of exchange helps by American experts, as probable a declaration by the importer, and come of the doctrine of Parliamentary The House of Commons exports, but it is a very small one, evidence of deep design. As for the heaven knows what beside. If after control? and weighs nothing in the scale. of Hocht's evidence the figures showing all these preliminaries it is found has always jealously guarded its

that the cargo is illegal, the importer taxing, function. Under this Bill THE Stamp the balance of trade. It is best ill the recovery of British trade-it is ustrated by taking an imaginary totally irrelevant. When practically is permitted to compound for bis sin that function is appropriated by the

Board of Trade. It is true that Sir From SOUTH AMERICAN PORTS case. We will suppose that Mr. the whole population of a great manu- by paying to the Commissioners Ford has an English factory in facturing country has been diverted sum equal to the amount by which A. Geddes proposes to nominate to via SAN FRANCISCO, HONOLULU

& JAPAN PORTS. which his costs of output were, in from its normal occupations to war the foreign value of the goods ex the Trade Regulation Committee normal times, equal to those fn. and war work, the cessation of, war ceeds the import price thereof." Inten members of Parliament; but the America. We have, then, an English naturally means a resumption of exterference does not end at the port House will indeed abdicate

The sbors, named Steamer having car at £100 the exact equivalent of ports and it should mean a diminu-There is an absolute prohibition of authority if it accept as satisfactory

consignoos an American car at $500. The in- tion of imports. Allowing for the the sale of these goods in the this substitute for the full fiscal con- arrived Monday March 1, 1990,

than trot that is its right.

of Olago arabereby oice price in Japan it takes just decline in sterling, imports do show a United Kingdom at less

The Bill has not the ghost of a notified to present their Bill of Lading about Y1,000 to square. Now suppose slight tendency to decline, while the their foreign price. Everybody knows a flood of Bradberys is let loose on growth of exports is healthy enough, that wholesalers and retailers some chance of passage into law this side for counter-signature, and England and the pound sterling goes albeit that the hectic flush of high times sell a particular line of goods of Christmas. There will, therefore, mediate delivery from slangtids steamer down to Y7. You can then buy the sterling figures is not all, that it at a loss, arranging to make on the be ample time for commercial opicion or the Company's Godown, where all the to make its voice heard against it. cargo impeding immediate dischargo will English Ford for Y700, and there is a looks. A country whose expertness swings what they lose, on Tush of orders. While stocks last and in its chief manufactures was far roundabouts. That expedient will I observe with amazement amang be landed at consignees risk.. the men's patience holds out there is in excess of all rivals does not lose no longer be open to them if this Bil its "backers" the name of Sir Alfred an appearance of great prosperity as all its skill as a result of four years of becomes law. Its authors seem to Mond, formerly the leading spirit in the result of the low rate of exchange. war, and naturally finds some of its regard a man who sells cheaply as the Free Trade Union Et tu But belore the orders can be fulfilled did markets still open for its wares. an enemy of the people whose Brute!" will be the cofnment of his the men at the works, owing to the But the Hochi seems to think that it nefarious devices must be frustrated old comrades-in-arms. But it is not packages will be landed into the Com-

As for the for merely Free Traders who ought to rise in prices, are all demanding. E10 is only the law rate of exchange that at all costs.

examined, on Monday, March 8, has enabled Manchester to supply eigner who wants to send his goods resist this Bill Its proposal to set papy's Godown, where same will be Calcutta and Canton with cotton here, he is little better than up a port inquisition and to fetter goods again. This is going out of the criminal whose dangerous operations dare more our expanding commerce

No claims will be recognised after way to discover a wrong inference. must be watched by our consuls must be hateful to all commercial As rivals in trade and finance, Japan- abroad, and whose goods on their men. After five years of State con- the goods bare left the steamer or Sai and Diarrhes Remedy, has proposit th as a perfecline to run the gauntlet of spice, informers, all things is liberty, nor more fourrices presented later this three weeks after is safe to say that Chamberlain's ese may take it as a perfectly sound arrival in a British port will have trot what British trade wants before Godown and nons will be entertained if" assholes of more people and re- Britain's rae of exchange is on the and inquisitorial offcials If this is tion and to be bound again in end-arrival of steamer. lieved more suffering than any other whole, a serious detriment to Britain. the only way to prevent dumping, less coils of red tapeTruth: ramery in existence. It is known all over the civilized world for its speedy It does not follow, of course, that it then the remedy is worse than the cures of cramps in the stomach, dla will be any benefit to Japan-except disease. Dumping to the detriment rhon and all intestinal pains For sale in the paying off of her old sterling of our own industries is, in fact, ∙reality. by all Chemiste and Store koopers bonds-Japan Chronicle.

more of a bogey than a

a month instead of £7, materials all

A LIFE SAVER.

France

or

Germany

2

its

Hongkong, March 2, 1920.

TOYO KISEN KAISHA.

NOTICE TO CONSIGNEES.

*ANYO MARU,”.

Stange wi

taka im

be sashed

ор

cargo remaining undelivered after Monday, March & 1920.

All broken, chafed and damaged"

st:10 4.x

NOTICES.

BRINGS THE SUMMER GARDEN

TO YOUR

WINTER TABLE.

LUSCIOUS FRUITS FROM THE

LAND OF KENT—

Baspberries in Syrup Strawberries

Black Currants " Gooseberries Victoria Plums Loganberries

"Cherries

Damson

per tin

90 cts.

31 門

.90

# $1.00

P

#

IF

ft 19.

68

11:

13 19

90

H

ALSO

Edgars Marrowfat Peas

60 ct..

8.8 2

75

per tin 40 eta..

grown and packed in Kent.

LANE, CRAWFORD & CO.

NEW

DANCER

RECORDS.

JUST RECEIVED.

THE ANDERSON MUSIC COY. LTD.

(TEE COLUMBIA SHOP)

18, DES TŒUX. ROAD CENTRAL,

TELL M.

SHEWAN, TOMES & CO.

MOTOR DEPARTMENT.

DISTRIBUTORS FOR?

COLE, DODGE AND OLDSMOBILE CARS,

FEDERAL TRUCKS-FISK TYRES, ⠀⠀ HARLEY-DAVIDSON MOTORCYCLES, ARROW, BRENNAN, JACOBSEN, MEITZ, RED WING, ROBERTS, & VENN-SEVERIN MARINE ENGINES, We stock Spare Parts also carry a complete line of Auto-Assemories and Motorboat, Fittings.

AND

MOTOR CAR STORAGE

Repairs of all descriptions under European amperviato Re-painting a specialty.

INQUIRIES AND INSPECTION INVITED. Call at our Motor Garage DR

No. 7 Russell Street

NOTICE.

Phone 650**

We bave jost received fresh stocks of all OUTEX préparations. CUTEX is absolutely the last thing in manicurs. Try it.

Pepsodent Tooth Paste, the scientifle new departure in Dental Preparations Fricsa lowered by high exchange.

COLONIAL DISPENSARY.

Telephone No. 1877.

14, Queen's Bond Central

TANSAN

“Choicest of all

Hiieral Waters"

Do you know Do

That TWO HUNDEED AND ONE of the most eminent physicians of America, petitioned Congress's few year ago to admit Tanzan free of Custom's charges?

That Tausan has carried of the HIGHEST AWARDS at every Exhibition where it has been shown in competition with most of the best known waters in the world i

That Tansan will counteract the injarious

affects of bad whinky ?

That the Tanean Spring is open to laspec- tion to any ons desirous of seeing this remarkable water inming from its source?

For particulars apply to

SOLE AGENTS -

GANDE, PRICE & CO., LTD.

“WALLA WALLA " MOTOR, bonts are built for your service.

* No Fire· Inouities, winteverzit efforted.

T. DAIGO,

Hongkong, March 2, 1990.

Manager

Tel No. 135.

WINE MERCHANTS

6. QUEEN'S "HOAD, CENTRAL”