1932-11-09 — Page 4

THE

BANKS

'HONG KONG AND. SHANGHAI BANKING CORPORATION.

Denver Vanda-

Heiling. 8,500,000

$50,000,000 20,000,000

Barrels of Prophetore ......$20,600,000

HEAD OPTICE: HONGKONO.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1855.

THE HO HONG BANK, LTO.

(Established 1917.)

HEAD OFFICE:-SINGAPORE

LOCAL BRANCH;—

13, Queen's Road Central

Kulkorised (apijal gemi Led and Pulls Pald-up

10,000,000

Authorised Capital Straits $20,000,000 Issued Capital

8,000,000

Paid-up Capital

4,000,000

Reserva Liabilities of

J

Shareholders

HEAD OFFICE: LONDON. „

BRANCHES and AGENCIES in the principal cities of the world.

****

4,000,000

Paid-up Capital

Reserve Fund

£3,000,000 .£3,000,000

Roserve Liability of Pro-

DOARD OF DUNNECTous

ilva. W. J. J. Fale, Chairman.

prietora...

.£3,000,000

ALON STAB

T. E. Pences, Bag.

Deputy Chairs,

Hon. Mr. W. B. Belli

.. Compton. Keg.

M. T. Johnson,

T. Nuke, Rad

AMUY

HANOROK

DATAVIA DOMBAY CALCUTTE

A. Pham, Begr

T. II. S Sky, Z.

3. P. Warren, 48-

V. M. Gryburn, Eng.

Cale! Masager.

BRANOMED-

· LONDON

T.YONH

MALACCA

MANILA

Agencies and Branches:

AMBITBAR BANGKOK • BATAVIA BOMBAY CALOUTTA DANTON DAWNPORE CEDU COLOMBO DELLI HAIPHONG HAMBURG HANKOW HABSIN

HONG RING

ILOILO

iPont

*** ·KUCHINO

MADUAS

MAKILA

NEDAN

NEW YORK

PEATING (Pingi

PENANG

RANGOON HALOON

HENABANG SEDRU BAN

CHANOKAI SINGAPORE

SITIAWAN HOURABAYA TAIPINO

TIENTAIN

TONGKAL (Dhuket)

TSINGTAO

2

TOKOHAMA

ZABERANDA

KUALA LUMPUR

HOAB (Jocre

CANTON

HORDEN

ONEPOO DOLAMBO DAIREN FoooNOW

NEW TONK

КАПАСНИ

PRIPIKO

KLAHO

PENANG

KOBE

HANGOON

HAIPIYING

RAIDON

HANDURO

SAN FRANC3500

HANNOW

RHANOTAI

BARDIN

BINGAPOR

HONGKEW

SOUBABAYA

15017

SPOI

Тополе

ковн

KOWLOON

KEALA LUMPUR

BUNGE! PATANI

TIENTEIN

TOKTO

TSINGTAO TOKOLLAMA

Currnal Acroute opesed in Local Buready

and Fixed Deposita reostved fve not your of shorter periods is Local Darreney and Sterling on area which will be qualed on application. Bong Kong, 4th April, 1939.

•

HONG KONG SAVINGS BANK.

The lion of the aberee Bank le rondack by the BONG KONG AND BEANOKAI BANK- ING CORPORATION. Bu, may be obtained viluppation,

vox Tua nŮNGTOND AND SHANGHAI PAKETED CORPORATION.

7. M. GRATZUEN,

Chief Manager.

Hong Kong, 27th February, 1932.

And General Exchange Foreign Banking business transacted.

Current Accounts opened and Fix- ed Deposits received for one year or sharter periods at rates which will be! quoted on application.

Manager.

A. H. FERGUSON,

Hong Kong, 8th July, 1932.

Evory description of Banking and Exchange business transacted.

CHUA KEH HAI,

Manager.

CHINA MAIL.

Commerce and Finance

SHARE MARKET.

EXCHANGES.

TO-DAY'S QUOTATIONS.

The official summary of the Stock Exchange issued yesterday:- On London-

T.T. Markets were again very quiet.

On demand |THE NATIONAL COMMERCIAL & yesterday, and only a small hand- SAVINGS BANK, LTD. to-mouth business reported. Rates of the lower-priced issues oased off to some extent.-

Established 1921.

Authorized Capital...$ 6,900,000

Pald-up Capital

Reserve Fund

Total Resources

...$ 2,574,100

$ 210,000 .$18,500,000

HEAD OFFICE:

144-150, Des Voeux Road, Central, BRANCHES:

Canton, Shanghai, Tientsin. Hankow. Domestic Correspondents nt all prin- cipal Cities In China.

FOREIGN BANKERS: London: Midland Bank, Ltd. New York: Irving Trust Co. San Francisco: Wells Fargo Bank & Union Trust Co.

Singapore: Chinese Commercial Bank, Ltd.

FOREIGN EXCHANGE & BANK- ING BUSINESS of every description transacted.

Current and Savings Accounts open- ed and Fixed Deposits received on torms which will be quoted on applica- tion.

SAFE DEPOSIT BOXES

THE BANK OF TAIWAN, LTD. to let at a yearly rental from $6.00

(TAIWAN GINKO.)

HEAD OFFICE-Taipeh, Formosa. Incorporated by Special Imperial Charter, 1899.

to $22.50,

;

Central Bank in Formosa. Bank Hotes inued Average sincubi Yen. 45,000,000 BRANCHES AND AGENCIES: JAPAN :-Tokyo, Yokohama, Kobe, Oaks. FORMOSA-Girar Kal Karenko, Rolana Walong. Nahto, Shinobiru, Taloku, isen, Takio, Tamaul, Tom, ilello, ella

Amor. Poetlow. CHiNlow. Canton,

:-6hangbal, Hankow,

THE BANK OF CANTON, LTD. OTHERS Hong Kong, Kingapon, Soerabaya

Established 1912.

Head Office: Hong Kong. Authorised Capital (¡t.K. Currency) ...#11,200.083 1,004,205 * 1,100,000

A Foad -

Paid-Up Capital suonomma

DRANCHER :--

Canton. Shanghat, Beakow, Bws, Bangkok, New York and San Francisco,

LONDON BANKE

The Lloyd's Dark, Limited.

CORRESPONDENTS

To all pelaripal elties of the World,

*

Foreign change and braking bad of

description" trenerted.

Deposit Thetes Tvarious sicon) at a yourly,

del of from a $49.

LOOK POONG SHAN,

Chlef Manager.

THE BANK OF CHINA. 47 11 4.

Reorganised October 26, 1928, under special charter of The National Gov. ernment as an

INTERNATIONAL EXCHANGE

BANK,

Subscribed Capital

Fald-Up Capital

.$25,000,000.00 -$24,7) 200.00 $8,820,003.82

Reserve Funda

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4. Queen's Road Central

Semarang, Batavis, Bombay, London, New York, iron

LONDON BANKEDS:

Harclays Bank, Lid Lloyds Bank, Ltd, Midland Bank, Ltd, Westminster ink, Ltd.

WONG KWOK-SHUEN.

Chief Manager.

THE MERCANTILE BANK OF INDIA, LTD.

HEAD OFFICE:

15, Gracecharth Slrist, Londen, E.0.8

Authorised Capital....£3,000,000 Subscribed Capital..... 1,800,000 Paid-up Capital ....... 12,080,000 Reserve Fund & Rest 1,217,027 BANKERS: The Bank of England & Midland Bank, Lt

BLANQUES:

Rangoon

Bangkok

Ipoh

Penang

Batavia

Kandy

Fort Lout

The Bank Las Correspondente in ali šly principal | Commorola Centres throughout the world. E. NAQURA,

Bombay

Karachi

(Maurit)

Calcotta

Kota Bharu

Colombo

Kuala Lipir

Shanghai

Manager

Dalbi

Kasla Lumpur

Simla

HONG KONG BRANCHI

Shaila

Kuanian (Pahang) Singapore

D, De Vour flood Central Bong Kong, December 24, 1281.

Hoog Kood Konra

Madras

Surabaya

New York

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

NETHERLANDS TRADING SOCIETY)

SANKERA.

Etablished th

Hong Kong OM-11, Queen's Road Central.

I

Authorized Capital Paid-Up Capital Reserves

1.

... 20,015,000.

Batang Panghel, Blogspors, Botes

bale, Goerakarta (Solo). Tegal, Tjšatjep

and Wallarından”.

*These floor bare Safe Deposit Boxps to Let

LONDON BANKENS :—

NATIONAL PROVINCIAL DANK LID.

news of every description trubsscled.

HONG KONG BRANCH. Every description of Banking s59 Exrbangs bol mea franesolad

Travellers Choques Issued.

Sales.

Benguet Explorations 21 cents. H. K. & Wharvos $148. Ewo Cottone Tis. 15.

Buyers.

China Underwriters $2.90. Union Waterboats $21. Venz: Goldfields $8.80. Benguet Explorations 21 cents,

H. K. & K. Wharvos $148. Providents (Old) $4.85. Providents (New) $2. Hong Kong Lands $79. Hong Kong Realties $9.45. Ewo Cottons Tls. 14.90. Shanghai Cottons Tls. 7134. Zoong Sings Tis."11.15. Hong Kong Electrics $78. Macao Electrics $28. Telephonce (New) $28. Dairy Farme $284. Entertainments $12. Constructions (New) $1.40.` B. Ind. G. & Bonds 69%. H. K. Govt. Loans 2% Prem,

Sellers,

Union Insurances $515. Hong Kong Realties $92. Star Ferries 394%. Cements (Combined) $13.80. Agriculturals $10.

8986

1/4 1/4

4 months' sight ... 1/4% Credits 4 montha'

aight

1/6

On New York-

On demand

2234

Credits 60 days'

sight

232

On Paris-

On demand

570

Credits

4 months'

sight

610

On India-

T.T.

89

On demand

***

On Shanghal

On demand On Kobe

75

On demand

1071/2

On Manila-

On demand

44%

On Singapore-

On demand

58%

On Batavia---

On demand

66%

}On Saigon~~~

On demand On Bangkok-

07

On demand

137

Sovereign's

Bank

1/5 buying rate) Bar Silver per oz... 23% Bar Silver in Hong

Kong

Copper Cash

Copper Centa

Rate of Native In-

terest

Nominal Nominal 1% prem

8%% p.a. Chinese Sub. Colo.. 29% dis. 'Hong Kong Sub. Coin Pur.

Roosevelt Reviews "The Big Job"

(Continued from Page G.)

"Isn't that what the office is-a superb opportunity for reapplying,

whole country we are acting against

the interests of every section."

WEDNESDAY, NOVEMBER 9, 1932.

PRICES SOAR WHEN FISH VANISH.

Small Catches During Colombo's Monsoon.

to sea.

JA

CLAIM AGAINST FRENCH SHIP.

Chinese Firm Granted $884.76 And Costs.

At no other time during the In the Supreme Court this morn- year is fish more scarce in Colom-Ing, before the Chief Justice, Slr bo than during the south-west Joseph Kemp, K.C., the Sul Lee firm monsoon, owing to the heavy seas of ship chandlers claimed $884.76 which make it impossible for any for necessaries, supplied to the boat under 16 cubits to put out French steamer Governor General Maurice Long I., (against which All the smaller boats are beach-vessel an order for sale has been ed, and lie idle till the weather be made by the Court) between May 23 comes more kind for them to re-and July 20 this year. sume their trade.

Mr. R. C. II. Lim, instructed by The fish too become scarce, ca- Mr. C. Y. Kwan, appeared, for the pecially the smaller variety, the plaintif. Ngau Yu-pul, manager catch being mainly confined to the of the plaintiff firm, gave evidence larger kinds,

of proof of the claim. Consequently, the price of fresh The claim. together with costs, fish, which even in normal times is was granted. greater than the iced fish which is sold by the various cold storage companies, rises higher. But the demand for fresh fish in the local market is so great that notwith- atanding the low price of 20 cents per pound of trawled and iced sh at the cold storage companies, a price of 40 to 50 cents is paid by No Guarantee of Trade. buyers in the local markets,

Regarding China, Mr. Cham- Local fishermen do not seem to berlain said that the position was be affected at all by the trawlers, slightly different because China because the present demand for had a silver currency and if sil- fresh fish is considerably higher ver rose, the value of China's than the supply.

CHANCELLOR CONDEMNS

BIMETALISM.

(Continued from Page 1.).

currency rose also. China's pur- chasing power gained simultane- ously. But then China's selling power decreased.

NATIONAL GOLD HOARDS

Again, in the case of China, he PREVENT TRADE REVIVAL.

did not find in figures that they bore out the view that a change (Continued from Page 1.)

of the value of silver made a cor- responding difference in the value One measure of relief he advoof Chinese importa. Imports into cated was the State assistance to China fell only 10 per cent. dur- enable the Cunard Company to ling the period when silver fall proceed with the projected con-

struction of its two giant liners. 27 per cent. Without being dog- He believed that this could be matic, he was unable to convince himself that a rise in the price done by means of a loan or guar- of Silver would have this valu- antees without any cost to the

simple rules of human conduct, wells trying to be all things to all embargo on issues should be re-of wholesale commodity prices to

Didn't Want Post,

•he ex-

berlain said one must remember

State. He was certain that legi-able effect on the trade of Lan- timate ways in which the credit cashire with China and India, of the country could be used to whether the increase in the avail- Turning to the question of help industry might be discoverable supply of metal, either gold ed if an expert committee was Says He's Liberal

The or its equivalent in silver, would Perhaps this is Governor Roose set up for this purpose.

Britain so as to enable the value applying in new conditions, the velt's answer to the charge that he speaker also suggested that the increase the available stock in

the sections, conservative in the East, moved as early as possible, always go back to?--I stress

the West; he simply the hope that

Sir Herbert Samuel expressed rise the world over, Mr. Cham- modern application, because we are radical in

an opportunity. sections In Trustee and Executorships under always moving on; the technical and denies that there are

He classifies himself as would be taken at the World that the available supplies of gold itaker.

Economic Conference to achieve had enormously increased from Fixed Deposits at Rtates that may be sacertained never so quickly as now. Without a liberal. I asked what he marant definite results on tariff and £1,000,000,000 in 1900 to £2,500;-

INTEREST died to Cerres Ascounts and economic environment changes, and that sense.

000,000 in 1932. When one con- on sppilosion.

leadership alert and sensitive to by that elastic term, how he defined

other restrictions, monetar J. B. ROSS,

Manags: change, we are bogged up or lose the difference between the cutleaks 7, Queen's Road Central.

our way, as we have lost it in the vaguely called conservative and pro- questions, and other matters of sidered the amount of extra gold world-wide importance. Only by that would be necessary to make Hong Kong, Tth April, 1932.

past decade."

gressive, or between his programme such means could they secure an any real difference to-day, one "And you?" I asked. "Ie that the and that of the opposing party.

"Let's put it this way,'

early return to prosperity, and must consider that extra amount in relation to the available sup-" reason you want to be President? 150,000,000 DOLLAR REMAINS UNCHANGED, What particular affirmation or re-plained. "Every few years, say end unemployment:

If the Disarmament Confer.plies of gold in the world. affirmation is required of the every half generation, the general

could simultaneously be (Not Enough Gold). problems of civilisation change in ence The dollar remains unchanged at national leader of to-day?"

Discoveries of gold in the nine- Buch a way that new difficulties of brought to a successful conclu- Uead Office AMHTERDAM”.

1/4 to-day.

The Governor laughed. "Months adjustment are presented to govern- sion it would go far to encourage teenth century in California and Kastern Lied G1850:-DATAVIA,

Spot silver gained a fraction, Branches-Bendjermeln,

of before the nomination. I told you Iment. The forms have to catch up the whole world towards better Australia, the subsequent deve- Blandong Bombay rising from yesterday's rate

lopinents at Rand, produced an Calcutta, Cheribo, ember, Djok

After many other members had enormous effect because they jakarta. The Lingua, Fiddah. Bebe 18/4 to 18/%, while the forward didn't know why any man should with the facts. The radical, in order economic conditions. Maks, Medan. Paleoberg. Bela- Imgs, Psasoz Rasgoon, Boriam price also gained, rislag to 18/ want to be President. I repeat that to meet these difficulties, jumps,

I didn't grow up burning to go to jumps in groups, because he doesn't spoken, the Chancellor of Exche-were great in yield in comparison from yesterday'a rate of 18/3%.

The pound weakened a fraction the White House, like the American count unless he's part of a group. quer Mr. Neville Chamberlain with supplies in gold in those in London. Yesterday's cross rate boy of legend rather than of fact. One group usually differs from an concluded the debate, which has days. But if gold to had increase at London on New York was quot-I have read history and known other in its programme, but they been most productive of Ideas, two and a half times in 30 years; ed at £-G$3.30% while to-day's Presidents; its a terrible job. But are all equally definite and dogmatic While he could not agree with it was clear that no great dis- dropped to £--G83.30%. The New somebody has to do it. I suppose I about it. They lay down categorical the desirability of many of the covery of gold in the future wi Correspondents all over the world: Bankleg Buel York Stock exchange is on holiday was picked out because the majority terms my plan or none. Their proposals made, there were others going to have a similar effect of the party thought I was the best characteristic is hard-and-fast pro which would receive the careful upon the amount of gold required and no rate is quoted.

vote-getter. Now that I am plecked cesses, cut-and-dried methods, un-consideration of the Government. for monetary purposes.

British Wireless Service. INDECENCIES IN NEWSPAPERS. out, naturally I want to be Presl compromising formulas. The con dent. I want to win." He laughed servative says: "No, we're not ready for change. It's dangerous. Let's Three Chinese newspapers, the again, then went on gravely:

"The objective now, as I see it, is wait and see what happens. Half We also handle the issue of Bonda AMERICAN EXPRESS COMPANY, Wah Kiu Yat Po; the Tsun Wan

bewildered to see and other Public Funds of the Chin-

Yat Po and the Tung Ah, were to put at the head of the nation way in between is the liberal, who continent and who now, across the proposal was that the central halled before Mr. Schofield at the some one whose interests are not recognise the need of new machinery plains, are

Back To The Soil Central Police

Magistracy this special but general, some one who, for new needs but who works to passing out of their control.

Like Henry Ford, the repentant morning for publishing indecent ad-can understand and treat with the control the processes of change, to country as a whole. For as much the end that the break with the old

mass producer. Roosevelt goes back vertisements:.

to the soil for his solutions. Like the market price, there would be All the defendants pleaded guilty as anything it needs to be reaffirmed pattern may not be too violent.

"Or say that civilisation is a treo Ford, he believes in decentralisation great inducement for those and offered no defence, they were at this juncture that the United

States is one organic entity, that no which, as it grows, continually of industry, sees the same loss of heards to come out of India and each fined $50.

China, because China wanted her Detective Sergeant Fowlie pro-interest, no class, no section, is produces rot and dead wood. The balance between the country and the China. They would not come from eithor separate or supreme above radical says: Cut it down. The town. Pressed for definite specifics silver for currency, unless silver secuted.

the interests of all or divorced from conservative says: Don't touch it which he would offer, or order, were to make her purchases. AUSTRALIAN MEAT EXPORTS. the interests of all. We hear a good The liberal compromises: Let's he in power, as remedies for our

Drop in the Bucket. present economic ills, he always don about the interdependence of prune, so that we lose nelther, the

Supposing, he added, the price of Australian meat exportere expect the nations of the world. In the old trunk nor the new branches, contends that you have to begin at

You cannot build a silver rose to two shillings and to reap rich rewards from the auc- pit of universal calamity, with every This campaign is waged to teach cess of an experimental shipment country smothered by its own nar- the country to move upon its healthy industrial civilisation, he thus get 1,000,000,000 ounces of of chilled beef from New South row policies and the narrow policies pointed course, the way of cha says, until you restore the solvency silver the highest possible figure Wales to England which was made of other countries and that gees in an orderly march, avoiding silke and purchasing power of the farm that only would mean an addition

that the revolution of radicalism and the

"I agree," he declares, "that our of the equivalent of £100,000,000 in recently. Sales have been made in for us, too-every

main problem is to get people back gold to the available supplies of London at prices which compare connection. But there is a nearer revolution of conservatism."

In this credo of the liberal is to work. All programmes that fall £2,500,000,000. That was only two. favourably with returns from fro-truth, often forgotten or Ignored, zen beef and it is now anticipated and that is the interdpendence of nothing new but rather the echo to do that do precisely nothing. per cent, and too amail an amount of something very old, the voice pf Untli unemployment is cured, we're to make any appreciable effect. that trade will rapidly develop every part of our own country,

"No valld economic sectionaliam the country gentleman in politics. sick, and will get alcker. Unem- Even the annually growing sup exists in these States. There are The voice ·WAB dominant in the ployment insurance is necessary,plies of silver were not going to opposed economic interests within early history of the Republic. It is but it's the second step, not the add to the visible supplies of gold every section, town against country, familiar still in England. And in first. It cannot meet the present more than a point or two per cent suburb against city, but as a nation fact it expresses what is most deep emergency. I believe we could spend He did not see, therefore, how it we are all mixed up, fluid. All the ly rooted in Franklin Roosevelt: He $2,000,000,000 in constructior work, could be argued that the bringing self-liquidating, without of silver to help out gold was, in States are in some degree like New differs from TR in being country party

Owing to our numerous branches in China and large connections 'n the im portant commercial centres of the world, we are able to extend to aur elienta special facilities for domestic and foreiga banking and exchanges.

abroad

Government both at home and

SHOU J, CHEN,

Manager. Hong Kong, 5th March, 1981

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880.

A STOXKINK Hong Kong, 21st June, 1982

Manager.

THE

INC.

Head Office:~65, Broadway, New York.

Capital

Surplus Reserves

Capital (fully paid-up) Yen 100,000,000 Reserve Fund........Yea 117,800,000 an

Books

..8.$8,000,000.00 .U.5.$1,882-332.04 .U.9.81,458,110.78

Hapka

Parla Penang Faking Palario Halberdan

Bambout Bhangbal „Southampton

BRANCHES:----

Amatardazz Antwerp

Berlin

Head Office:--YOKOHAMA,

Branches and Agrocleg at: Alexandria Batavia

Nagasaki Nagora

Berlin

Newchwang

Biarrit Bombay

Besle Buenos Aires Cladra Cannes !... Ucleesbe ConstanUnopla Monte Carlo Copenhagen Manila

01004 Glange

Hamburg HAYO Interlaken Jewelle Lido London

Liverpool Lucame Lapane

·Lazor Marine

Tlaatsin

Vienna

Fiocc

Munish Modrocz

Жам

Tasion Zakobaca Exfol

Bombay

Changchun

Canton

Dairen (Dalny)

Now York

Osaka

Paris

Pelping

Rangeon

Fengtien (Mukden) Rio de Janeiro

Hamburg

Hankow

Harbla

Ton Konr

Honolula

KA-Yeon Karach Kobe A

London.

Singapore

Branches of American Express Com along these lines. pany in Principal "cities "of, United San Francisco

Beattle Semarang Shangha Salmononali

Bingapore Sourabaya

States of America and Canada.

`All classes of Commercial. Banking Transactions undertaken,

Personal investment accounta handled

Los Angeles

Tokyo

The Company offers to intending: Manila

Tsingtan

Trav fors the "use of its "Travelleri Interest allowed on Current As Cheques and Letters of Credit and * in addition, £hs world-wide services counts.

Deposits received for fixed periods of it thoroughly equipped Travel De-

at rates to be obtained on application.partment,

H. MORI

Hong Kong, 11th March, 1939,

E. W. DUGGAN,

Manager.

KING'S THEATRE MECOMING SHORTLY!

HEVALIER

LOVE ME TONIGHT Jeanette MacDonald

one sees

the base.

it

What would have an effect on silver? What was the amount of silver we could expect to get? The

banks should agree to accept certain proportion of aliver at a fixed ratio to gold and that the price of silver should be the mar

et price. If it was going to be

York, a blend of agriculture and in bred instead of town-bred; funda- bankrupting the country. With ef- the present circumstances of the dustry. The rural South is chang- mentally he is up-State and not fective economy in government, It world, going to be of any effective ing, the Western prairies are plant- New York City. He farms, plants, would hardly increase taxes. But help, even supposing the nation ed with factory fawns, East and is himself planted in what is, for that's not enough, either. Unem could get what he was certain it West, as we use the terms, are America, the ancient, coercive soll ployment was Increasing long be could not get, namely an agree mostly states of mind, not localised of Dutchess County, When he fore the depression. It's inevitablement of all the central banks to but everywhere. What we need is a speaks of understanding the coun when half the population had lost adopt some system. He was not common mind, and, even more, com- try as a whole, he is identifying its purchasing power. That's the very hopeful of a bimetalle pro- mon sense to realise that if we are himself, consciously or unconscious fellow you've got to start building posal helping the world over her

present dificulties. Reut not acting for the interest of the ly, with those who have settled this up, the farmer."