1921-01-07 — Page 2

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LAMMERT BROS.

LUOMUKHERS, AFFRAIKERS

AND SURVETORS..

-Public Auctions-

FOR SALE

INTIMATIONS

YOU CANNOT AFFORD TO BE WITHOUT THEM.

JUST receited a large Consignment of (1) LACTOGEN be most digestive food for Infants which keeps good in quality during Hot weather (9) LAC- TOSE (Milk Sugar) for awestering the foods of Infants and Dupeptics (3) MILFORD-MOGRATE FLAID INSEC TICIDE the Best Faid for destroying

MILNER'S SAFES Fleas, Mosquitoes, Bags, Flies and all

Apply to

LAMMERT BROS..

Daddell Street.

Your Baby's Early Days

Baby's natural food is mother's milk if he cannot za tih you must gwe him food which is practically iderminst with mothers ww. Diały to cars you keep B by wet and iap y.

The "Allenburys" Foods provid zactly mint Baby sorts to make tirs strong and healing culing on feat prisika! smocra

Allenburys'

Fods

Make Baby Happy and Streng.

ALLEN & HANBURYS L-London

122122: 1 | INSERTI |

other Insect Pestäin Summer days, and (4) JOHN CAHILL'S GOLDEN FLEECE, MAGIC and CINDERELLA SOAPS for keeping everything clean in Bausea,

PRICES are Very Modenste. Tas- pection and Enquiries are cordially invited.

SHIU FUNG TAI & CO.,

Sale Aguata foriBengkung and South China

Xoà, 478 4, Cursangès Bond'Central, Hongkong,

Prelephone Nos. 100%

理代泰夏帶

Postage Stamp

Catalogues

of

Latest Issue

from

Stanley Gibbons, 1st & 2nd Parts,

Scott Stamp & Coin Co

-Yvert et Teller Champion

་

GRACA & 00,

DEALERS IN POSTAGE STAMPS, Glades

Szr. Tors, Poor CARDS, & Ng, 10. Wyndham Street,

Bongtong.

1. O. Box 620.

JAPANESE YAKERS.

Every kind of Footwear.

MADE

TO

ORDER

THE CHINA MAIL.

GARRICK

Selected

Virginia

Cigarettes

CIGARETTE

ELEND

BUTI

ARE MADE FROM THE

MOST DELICATELY FLAVOURED

TOBACCO

GROWN IN VIRGINIA,

Sold in 'Airtight tins of 50 Cigarettes and Obtainable. at all Tobacconists.

FRIDA 2. JANUARY 7, 1921–

NOTICES.

G. FALCONER & CO., LTD.

WATCHMAKERS & JEWELLERS.

Hotel Mansion,

Agonis for :—ADMIRALTY CHARTS,:

ROSS'S BINOCULARS and TELESCOPES, KELVIN'S - NAUTICAL INSTRUMENTS, BENSON'S ENGLISH WATCHES,

ENGLISH SILVERWARE, direct from Manufacturers, High Class English Jewellery,

THE KWONG HIP LUNG CO.LTD,

TINGINERÈS and SHIPBUILDERS, FOILLE-MAKERS, BRASS and IRON

FOUNDERS. All work done in this ariablishment la guażanised. We ziave! over thirty years' experience. We own two Filipwayxangitan accommodate any "trafe of 200 feet long..

Town Office: 66, Convivent Roan Üzraz, Hongkong. Telephous No. 45. Shipyard : Shum-8al-Po, Kowloon, Hongkong,

Telepkova Fo. Kasimater fuzished on application.

Hongkong, Apr 1, 1912. --

PROTO SUPPLIES,

LONG HING & CO., Kodaks and Kodak Filhos, Ec. dr.

DEVELOPING & PRINTING A SPECIALITY.

No. 174, QUEe's Road, GastrAL, HONING.

HOTELS AND CAFES.

THE HONGKONG HOTEL CO., LTD.

OPERATING :-

THE HONGKONG HOTEL,

HOTEL - MANSIONS,

THE REPULSE BAY HOTEL,

AND THE

HONGKONG HOTEL GARAGE."

7. K. TAGGART,

MAKLAR

To arrive shortly, large

quantities of White

Glazed Tiles, also. Cast

Iron Porcelain Lined

Baths and the last word

în bidets.

C. E. WARREN & CO., LTD.

Nos. 30 32 Des Voeux Road Central.

Established 1900.

→Telephone 370.

'THE CLEANING OF SUMMER FROCKS is an important matter and we make a speciality of "refinishing" light Frocks and Costumes so that they keep clean longer than when treated by ordinary methods.

Our processes are thorough and reliable. Our facilities and re -sources enable us to carry out, all work quickly and our charges are really reasonable.

Write for Price List and See!

The Diamond Dyeing and Drycleaning Co.

Agent

CASSUM AHMED.

General Draper.

32 & 34, Wellington Street. Brazich 28. Nathan Road, Kowloon.

*Phone 1482,

:

MASSAGE.

Mr. HONDA and Mrs. HONDA.

Trained mals Masseur-

12 years' experience.

Formerly of Tokyo Military Hospital WILL VISIT PATIESTS' RESIDENCES IP PREFERRED No. 24, Wyndham Street. (Opposite to the China Mail.)

MUMEY A

Japanese Photographers," «We have removed our Premises to

No. 384, Queen's Roudy C. Sitting hours from oʻrim, to 9 pm.

Passport photos finished கண்டிக

CHERRY &.00.,.

PEDDER STREET, Opposite Hongkong Hotel Telephone No. 48.

Hongkong, Much E, 1914.

MASSAGE HALL

Graduate from agassil Masungs School MES. HAN INOÊUCHI.

Phone No. 1966

25, Stanley Stres,

Lit Floor.

THE NEW FRENCH AAMEDY.

THERAPION NĚ: 1 THERAPION NO.2 THERAPION M.3

26.1 Car Findlay tharri. Ba - for Blood & BOR EX2es, Xa, 1 fez (toude WiLKLASSE PELOST ZMARTESERENISTA PRIČE DE ENGLANDIJK. FOR LECTEREMAL COLESVeritatske..X VALENTIA,

CES TALDE HALTED WORD FRYLIZES 2

NIPPON

ASAHI BERK

PILSENER BEER

ŠKO PRIZI

ASA

LAGER

SPECIALLY

EX

FOR

COMP

SAHT

BEER

LAGER-BEER

COMPA

BOLE AGENTS

This · Advertisecent in fauned by British-American Tobaoer Oo (China) Ltd.'

IMPERIAL EXCHANGE.

"AN URGENT NEED,

}

SUGGESTED COMMON EMPIRE CURRENCY.

YAP ISLAND.

SEVERE STORM.

of these three headings, compared with the bank's habiïties. It is probably not necessary, nor is it, in accordance with British methods that there should; be a legal fixed percentage of these liquid asséfs, but it is necessary that there be, let us say, a monthly pub- WHOLE VILLAGE ALMOST DESTROYED. lication of the figures, showing the percentages. Either through public

A despatch received by the Navy opinion or in some other way the per- Department, regarding the effect of centage of these combined liquid assets would require to be higher than the recent storm at Yap, states that the percentage of cash to liabilities the whole native village was practic- which is regarded as prudent to-day.ally destroyed, with the exception of As the eligible bills of exchange are some 20 houses which also were more interest-bearing, this higher percents!

banks.

Writing to The Times, Mr. J. F. Darling says:-On my return from Canada, I find that the criticisms in the home Press on the Empire Bank scheme, are mainly two-one the in- terference with the "Sovereign right" of the Dominions to inflate their cur- rencies; the other, the alleged ab- age would involve no hardship on the less damaged. The greater portion. sence of any check to a part of the

of the pigs and cattle perished. Two Empire importing more than it ex-i In the Toronto address it was shown men were killed and one woman ports. In the many discussions I had bow, apart from the movement of wounded, so far as can be ascertain in Canada the former point was not currency, all transactions in the Emed for the present. Means of com- even referred to.

The latter was, pire would resolve into some bank however, discussed on different occa- being debited and some bank credited munications are seriously deranged sions. I feel I owe an apology to the in the books of some office of the Em- and full particulars are still unknown. Chamber of Commerce Congress for pire Bank, and how that bank could According to a private despatch not dealing more fully with this aspect effect transfers at par between its received by the South Sea Trading of the scheme of my address. But

offices-again by a debit and a credit. Company in Tokyo, which has a with your kind permission I shall

All inter Empire trade would be branch establishment in the island, endeavour to do so now.

senled by a bank of the exporting the Japanese residents, numbering country being credited and a bank of about a hundred, are all safe. the importing country being debited **The inhabitrais~ot" the - islind, Lambering about 9,000, seem to be suffering seriously from scarcity of provisions," stated the Baval authoris ties, as quoted by the Tokyo Asaki. The Government has, accordingly. decided to despatch to the island rescue vessels carrying on board material essential for the reconstruc-

The main cause of the disorganise tion of the Imperial exchanges, which is becoming more and more pin the books of the Empire Bank. nounced, is due to the fact that in the An export to a foreign country also absence of gold, there is now no co means a credit, and an import from necting link between the different a foreign country a debit, with the parts of the Empire. The proposal Empire Bank, the one being set off is to provide a common basis for the against the other through the foreign currency, aided by an extension of the

exchanges. clearing-house system so as to em brace the Empire, through the setting up of an Empire Bank, which would held the balances of the same. 125 banks and kindred institutions in the Empire.

BASIS FOR CURRENCY.

It is, of course, an essential part of the scheme that a line should be drawn beyond which existing curren

cr

' CORRECTIVE FACTOR... The corrective factor would be the tion of the village which has been balance of the clearing house," practically destroyed.

*** For the inhabitants driven out of which would be "in favour "

against" any country in the Empire their homes, barrack style buildings according to whether its exports or will be constructed for temporary imports were in the Ascendancy. And dwelling purposes." excess of imports would weaken the liquid position of the banks in the im-

cies in the Empire should not be porting country, and therefore the

lowed to go except with a backing base for that country's credit, in a exchanges, not only with foreign coun Indeed provision way similar to an export of gold under tries, but with other parts of the Em- of Imperial notes.

On the other pire, to fluctuate wildly and often is made for this line of local credit free gold system. currency to be lowered as time goes hand, it would strengthen the position with wide and impossible margins, on, by giving the banks the option to of the banks in a country exporting on hampering production and trade? Or exchange the currency for Imperial balance and be tantamount to an in-is the Empire to enter into à partner- ship, with a common basis for the interest bearing bonds. Apart from port of gold to that country. advancing on these bonds a factor But there would be a further check, currency, and an extension of the which at the present stage need not so far as the Empire's foreign trade is clearing house system, such as the be taken into account--the only way concerned, in the foreign exchanges. Expire Bank scheme would provide, credit or currency could be obtained Here the Empire must be taken as a thus producing order out of what is from the Empire Bank would be whole.. An excess of imports from a rapidly approaching chaos and stimu- through the discount of self-liquidat-foreign country would loves the ex-lating production and trade the Em-) ing bills of exchange, drawn against change with that country, and tend to pire over 2

With regard to "sovereign rights," an actual shipment of commodities check imports arid stimulate exports

and marked accordingly, which bills, the Empire over, and therefore to that it might be arranged for nominal re-! thereafter, would form the basis for extent in any part of the Empire whose tention of the right to inflate under the Empire's currency. Given cer- excess of imports was made up of for conditions which would in effect pre- tain practical safeguards, with the de-eign commodities from that foreign vent the rights being exercised so long tails of which I need not trouble you country. This would operate in addi- as the partnership continued. here, we can obtain in these com- tion to the check caused by the excess An Imperial Conference of the best modity bills of exchange an instru-imports having weakened the position talent in the Empire to examine care

тел:

a good as sold it all, of the banks in the country owing to fully this question of an Empire cur

The banks would have tree top the balance in the Empire clearing rency is, I submit, urgently called for, lines on the assets side of their bal-house being against them

and judging by the interest and recep

ance sheets, which would be equally With the Empire away from a gold tivity shown by Canada, where I was liquid-viz cash in hand, balance et basis, and not likely to be in a posi privileged to meet and discuss the the Empire Bank, holding of eligible tion to return to it for many years to subject with statesmen, bankers, mer bills of exchangé une

come, what is the alternative? Is chants, and economists, one is very each part of the Empire to struggle on hopeful that a workable scheme would in an isolated position, LATER)

The relative liquid strength of each bank would be indicated by the total

THE PEAK HOTEL.

1,500 Feet above Ses Level,

16 Minutes from Landing Stage. Under the Management of

Mrs. BLAIR.

KING EDWARD HOTEL

CENTRAL LOCATION.

LL, ELECTRIC TEAMS Fam Fatrance, Electrin Lifts, Fans and Lighting A Baropesa Baths und Sanitary Bistings, Hot and Cold Water Systai throughout. Best of Food and Section

Telephone 373 Talegrphin Address :---' VIUTORIA'

J. WITCHELL, Manager,

CARLTON HOTEL.

J

(TIDE DEKY AMERILLE HOTEL. EN WER COLONY.) IDE HOUSE STREET.

Under American Management. Nice and quies yet only a few minutes walk from the Banks and Central District. 43 Bedroome, Faxcellent Cullins, scrupalously clean Moderata Terms Monthly and Family Bate on application to the Proprietress. Launches mert Fagar Bosts.

Mi. F. E. CAMERON, Telegraphic Addrama “CARLTON.*

PALACE HOTEL

KOWLOON.

(Two minutes from Biaz Furry).

Recently renovated and refurnished, electric light and fans throughou? and entirely mier new management. Calsine under the personal supervision of the proprietor, Bar and Billiard Rooms. Terma moderate. Spaciai lárma so families on application to

** Telephone K. 3. Telegraphic Add : "PALACE”

HOTEL

Booms

Roof-

J. EL UXBERRY, Proprietor.

"ASIA"

WEST BUND. CANTON.

Suite & with private Baths. Garden, Hairdressing Saloon, etc.

Moderate Rates.

•Excellent C

Leading Hotel in South China.

Special

Under

attention given

to Tourists.

Foreign Supervision of,

THOS, G. HUTCHINGS,

TANG YUK, Dorrat,

the lawn. RUMAH TING,

JË PAGUITAR STEZET.

"TERMS VERY MODERATE-

**Comenthétfőn fros.

FRENCH LESSONS

G. MOUSSION.

·15. Morrison 2011 Kas