1932-08-01 — Page 2

Commerce and Finance

“TAKE » AWAY YOUR NEW CONTRACTS FOR BRITISH

GOLD.”

American Bankers Word To France.

way.

*FIRMS

WORLD'S FIRST NEED IS INTELLIGENCE.

Plea By Sir Basil Blackett Heard.

BUT HAS HIGH HOPES OF OTTAWA PARLEY.

THE

CHINA MAIL

saved the world from the whole of

the financial collages of 1981 In- stead, the various nations looked the gift horse in the mouth.

3

BASIS OF TRADE MUST CHANGE.

Sir Aucklan Geddes Dictum.

"At the present. mamenti went on Sir Basil, "there is one obvious fact that is known to everybody who is connected with the questions of

inter-allied reparations and debts, and that is, broadly speaking,

London, July 10. that no one is ever going to pay

Sir Auckland Geddes, speaking at anyone any more. That does not a luncheon of the British Non- London, July 15.-

preclude the possibility of some Ferrous Metals Research Associa- Marconi Building for Argentine

The gradual decline and collapse comparatively small payments,lation in London, warned British in- of the whole world unless more in-relation to the enormous totals at dustrialists that we could no longer | London, July 5.

issue that statement can be made trade with people who would only and inter- Messrs. Nor-Rust Liquid Lead telligence, national Cómpany, Limited. Iddesleigh national, was shown than had been as a statement of fact. It is obtake gold in exchange. The report that New York ban-House, Canton Street, London, displayed in the last five or ten vious to anybody."

"We have got to realise," said Sir Simply to wipe off reparations Auckland, "that out of this period "kers have asked France to withdraws.W.1., have received the contract years was forecast by Sir Basil

meant a good deal of inequality of of depression a new world is to the remainder of her gold deposit for sand-blasting and treating with Blackett recently. ed in the United States, amounting Nust the steel work at Manor Speaking at the Unionist Canvas- sacrifice. That was the danger of arise different from the one with which we are familiar-different. In the Cockidaters sing Corps meeting at Caxton Hall, the present position. "in all to between 100 and 200 mil- House station, on

With regard to Ottawa, Sir Baall its economic control. No longer can “Lausanne and Westminster, on Tion dollars, is officially believed to extension of the Piccadilly Rall-

[Ottawa,” he ‘zald:-

said: "I believe Ottawa is an op be true in Washington.

The gold supply of the United

and say that all the world trade Messrs. Marconl's Wireless Tale- "It is curious that the whole portunity which will not recur of We look outwards from this island States was announced by the Fede- graph Company, Limited, Marcont world should have looked for the doing something intelligent over the with us regardless of the terms ral Reserve Board on June 8. to House, Strand, London, W.C.2, are results of Lausanne and Ottawa next few decades, before civilisation which they impose when we trade total $3,880,000,000 (£796,000,000 at manufacturing, at their Chelmsford with such intensity. When we are crashes, of checking those booms with them. par), which is $1,031,000,000 works, the new transmitter which told it is really a question of our and slumps and booms which arise (£206,800,000 at par), more than will replace the existing, one at the generation facing the threat of a through the violent fluctuation of "We are passing definitely into a the legal requirements. The total Radio Excelsior broadcasting sta collapse of civilisation correspond prices. Above all, what is needed period in which tride has got to be of the short term foreign balances tien near Buenos Aires. The energy ing to what happened when the at Ottawa is leadership of, this conducted upon a fair basis. We

to an Roman Empire came

end, country in the matter of currency." have been accustomed to think that to of the transmitter la 20 kw. amounted on the same date

the cheapest kind of goods or raw $900,000,000 (2180,000,000 at par).modulated aerial carrier energy, there are many who are pleasantly

material were necessarily the best. During the year ending June 8.and modulation up to 100 per cent. thriled and find the statement INGENIOUS CURRENCY

I-question whether we have not got the United States has lost no less is arranged for. The transmitter sacrifying, and consider it à par

SYSTEM

to extend the thought which lies be- than $824,000,000 worth of gold will be

donable exaggeration. adjustable to

[hind 'cheapest." If there be a philo "In my belief it is really a serious (£165,800,000 at par). Since the length bewteen 200 m. and 546 m.,

Substitute For Gold Standard. sophic basis for the slogan 'Buy beginning of 1932 the amount with-(1,500 to 600 kilocycles), the work threat that we are facing unless we

British it must be this--not that drawn has been $475,000,000 (£95-ing wavelength being 3614 m. display more intelligence, national

Iwe are trying to stop the trade of London, July 15.. 000,000 at par) and since May (830 kilocycles). It is anticipated and international, than we have $350,000,000 (£77,000,000 at par). that regular transmissions with the succeeded in displaying in the last An ingenious system of automa- other peoples in the world, but that tically regulating the supply of we wish to buy from those whose new apparatus will commence early five or ten years. next year.

"The collapse, in whatever form currency to the amount of commo- prosperity most directly will help come in dities being exchanged. thereby us; from those who provide us with Messrs. The Integra Company, it comes, will, of course, Limited, 183, Broad Street, Bir some unexpected form, and it will largely eliminating fuctuations in opportunities for fale trade? mingham. are to supply the Leeds not, perhaps, come quickly. We are price levels, has been approved by and Northrup, automatic reversing more likely to have a series of ups the London Chamber of Commerce equipment for the three open-hearth and downs, always ending up a little as a basis for the furnaces which Messrs. G. P. Win further down than we started, but cussions at Ottawa,tay dis

PORCELAIN TAX TO BE ABOLISHED.

Kiangsi Government Gets Instructions,

Nanking. July 20 An order has been isated by the National Government. Instructing

un

any wave-

"Gift Horse" Ignored.

The scheme requires the Bank of England to become a Central Bank pure and simple. Currency should be issued against all commodities,

SATURDAY'S SOLUTION.

WANDS4SUNTE SULO TCA FEAT ALL PESTS

90

one

as represented by eligible commer- cial bills instead of against commodity like gold. Banking cre

JATE

cott, Limited. Attercliffe Road. She gradually declining, rather than a field, are, erecting for Messrs. The sudden collapse. That is what is English Steel Corporation, Limited, going to happen unless, somehow or the Kianga Provincial Government Sheffield. This equipment for the other, we can be intelligent about of the irregularity of the levy im-automatic reversal of the air and it". posed on procelain products, which gas valves of the furnaces is based

OOF Sir Basil said that nothing that is declared to be illegal. Nanking on a temperature-difference control orders the tax abolished at once.

had been done. was preventing the dit to £1 cash, but the ratio will] and not on a time cycle. Despite previous injunctions to

collapse.

"On the contrary, "we be varied as circumstances demand, cancel the tax, the order states, it vessels carrying porcelain cargoes have been hastening It Had the thus correcting inflationary xöd de-

Hoover holiday from war debts and flationary tendencies. appears from a petition just sub-in an attempt to enforce the tax

The sponsors claim that the mitted by a delegation of porcelain. The levy must be cancelled im-reparations been accepted imme- dealers, that the tax is still being mediately and the detained boats diately it was offered as one of the scheme will abolish the necessity of collected by the Provincial Author released, the order Instructs.-Kuo first essential steps towards recon-making international payments by ities, who have, moreover, detained Min.

[struction, it would probably have means of gold shipments.

Rush

THE YEAR'S GREATEST CLEARANCE

"

RECOLS

DERI

ROE DONE!

SEEN ONE

CAM

Do PAR

ĮSLEEPO AST

MONDAY, AUGUST 1, 1932

DAILY CROSSWORD PUZZLES

(This crossword puzzle has been made by an expert but Cour readers" are warned to look out for occasional phonetis

speilings, such as harbor, plow, and altho.)

55 36.

70

18

142

143

151

MORIZONTAL -The true skin B-Segmente 10-Carol

space

1

"

-17-Tilting

19-Jungle animal 21-Point of compass

(abbr.)

22-Earth (Fr.) 22–Numbers (abbr.)

in France

P

27-Consu 29-Sorrowful 31-Going to sved 34-Tolerated 36-Вослина

· 37–The pressed curd

milk (pl.)

Int

40-irien Acts (abbè.)

41-Disagreement. 45-Exist 46-Not difficult 48-8howlness of -achievement

49-Aged

2.

:3

157

77

72.

12

|HORIZONTAL (Cont); VERTİCAL (Cónt)

|52–Farm animal (pl)

55-Japanese coin

57-American Society

18-Gogalpa...

18-Pronoun

20-Wat

for the Prevention 26-Plural of goose

of Gruelty to

"Animals" (abbr.) 68-Espacially (abbr.) 51-Loaded

54-Roman-comic post 66-One who uses 67-Fog-horn

|68–Main; actor.

70-Obuolete spulling "of

reap

71-Gazt. 72-Serf11

T-A

VERTICAL

point of time

of 2-Ireland (Post).

80-Holy Mother Church

(Latin, abbr.) 61-Organ of sight -

3-Maturad

4-Chart

27-Await 2-A braqur

30-District Court

(abbr.)

32-Beilaf in "God" as a personal' Spirit 33-Belgium violinlat 35-A literary

composition 56-Girl's name 38-Drone

42-81m

|43–Eternal" (Archale).

44-Preposition

45-A thing that adapta

47-Apr 53–Landscape

64-Sardinia (abbr.)

5-Long narrow picture 60-81ight,

6-Encroach

7-Rail-road (abbr.)

-Combining form.

Far

9-Observe.

10 Juice of planta 11-A fruit (pl.) |12-An emperor of

Rame

158-Comfort

|57-Entrance

|10-Examine in detail |40-Father. (Fr.) |42-Bafors |63-A letter |35–Compass point (abbr)." |68-Egyptian 'uuregod

(The solution of the above with a new cross-word puzzle,) will

appear in. to-morrow'a izžus,

TO-MORROW

ΤΟ

WHITEAWAYS ANNUAL AUGUST SALE

Our Great Summer Sale is an event in the shopping world of Hong Kong that is eagerly awaited for each year. Here is your opportunity to practice that economy that is so necessary in these hard times by getting the utmost value for every Dollar you spend. Everyone knows that WHITEAWAYS SALES ARE GENUINE and thrifty shoppers await with eager anticipation the EVENT which enables them to save money.

ENTIRE STOCK INCLUDED.

DRASTIC REDUCTIONS.

ALL SUMMER STOCK MUST BE CLEARED REGARDLESS OF COST.

COME EARLY. BEST COLOURS & SIZES ALWAYS GO FIRST.

WHITEAWAY, LAIDLAW & COMPANY,

COMPANY LIMITED.