1933-04-08 — Page 6

DEWAR'S

THE

WHISKY

The Famous

WHITE LABEL

Sole Agents.

A. S. WATSON & CO., LTD.

EST. 1841.

GRAY'S YELLOW LANTERN SHOPS

For Finest Lingerie — Linens Peking Carpets, & Costume Jewellery.

Hong Kong :

Alex Bldg.,

Tel. 24566.

Hong Kong Hotel, Tel. 27424.

Curios: Gloucester Arcade.

Kowloon :-

Arcade, Peninsula Hotel.

For Festivities give your friends a good Champagne,

George Goulet

1921

Vintage

the stocks are limited and it can never be replaced.

Ask for it in the Hotels.

CALDBECK, MACGREGOR & CO., LIMITED,

(Incorporated under the Companies' Ordinances of Hong Hong.) Prince's Building, Ice House Street.

Tel. 20075,

EXCELSIOR RESTAURANT

22, Des Voeux Road Central (Opp. Government Radio Office). Excellent English Food and Special

RUSSIAN and INDIAN dishes. Tiffins $1.25.

Dinners Afternoon Tea and Delicious Icecreams, Renowned Russian Chef European Manager.

G. FALCONER & CO., (HONG KONG) LTD.

WATCHMAKERS & JEWELLERS. DIAMOND MERCHANTS. Union Building (opposite G.P.O.)

Agents for 3—ADMIRALTY CHARTS, ROSS'S BINOCULARS and TELESCOPES, KELVIN'S NAUTICAL ⠀ INSTRUMENTS, ENGLISH SILVERWARE, direct from Manufacts

High Class English Jewellery,

COMING TO CENTRAL.

KARLOFF

BUNCANNY

THE MUMMY

THE CHINA MAIE

WHITEAWAYS

NEW STOCKS OF TOILET SETS.

THE "GROSVENOR” TOILET SET.

THE

BUNGALOW

ENAMEL

TOILET SET.

Set consists of 5 pieces. Can be had in Canary Green, Mauve or Blue.

PRICE $6.75.

Fine Glazed Plate

Earthenware Tollet Set··

as illustrated. 8 pieces.

PRICE

The

$12.50.

ENAMEL TOILET SET

FANCY TOILET SETS.

$19.50 to $27.50.

FIRST FLOOR SHOWROOMS. WHITEAWAY, LAIDLAW & CO., LTD.

HERE, THERE

and

EVERYWHERE

SATURDAY, APRIL 8, 1933.

SURVEY OF AMERICA OF TO-DAY

FACTS

-Camping Out in Irak England has received news which shows that, although Lady Louis Mountbatten and Lady Milford Haven completed their journey: through Irak and Persin with no ill effects save an attack of jaun-] dice, their adventures caused a cer- Mr. tain apprehension to King. Feisul, in whose territory they camped]

cut.

A new Irak police regulation has been issued. It says:

"European and American ladies! and ladies of similar national and social status must, acquire resi dence permits for all Irak cities other than Bagdad, Basra and Mo- eul.

*Ladies wishing to travel, out- afde the three exempted 'cities must obtain special permission and tra-

Bet.

THAT

BRITAIN

SHOULD UNDERSTAND

"NEW ERA". ECONOMICS

Ralph West Robcy, the Finan of new era' economics. The Federal cial Editor of the "New York Reserve System, for example, Evening Post," contributes to adopted an easy-money policy "Current History" a striking through the purchase of government survey of the factors responsible bonds in the belief that this would for the present conditions in force credit expansion and restore the United States. To British the price level more nearly to the readers it will be helpful as old high.

giving them a better perspec-

tive, so essential in view of the Expansion Did Not Materialise. discussions which are to ensue "Its total purchases amounted to between Great Britain and $1,100,000,000, and this, according America. Mr. Robey thus con- to views disseminated through the cludes his contribution:--

Press, should have been sufficient to "From the time of the stock bring about a credit expansion of vel only between sunrise and sun-market collapse through 1930 it was $11,000,000,000. But the expansion

maintained that nothing serious had never came to pass, and to-day "the- "Ordinarily they should be ac happened or would happen. The Reserve Banks are faced with an companied by a member of a almi-sudden downward trend was viewed embarrassing problem of what to do lar national and social status of the as quite temporary, Business itself, with their government bonds. male sex.

"Caution is advised against cam-fundamentally sound.'

according to those in authority, was "A special committee of business ping out at night"

men also was appointed in each of "There was no occasion, there- the twelve Federal Reserve districts fore, any curtailment in either for the purpose of 'making the large private or business budgets because funds now being released by the there would soon be a return to the Federal Reserve Banks useful se quero staje poj Colonel Commandant of the Hon were encouraged to spend money They accomplished nothing import- old levels. On every side people affirmatively in developing businesa," ourable Artillery Company, in suc- and make plans as before. This ant

Finally, the Commodities cession to the Earl of Denbigh, re-period of Coucism lasted until well Finance Corporation should calls the curious regulations into 1931.

H.A.C. Commandant

governing the election of officers in the famous volunteer corps,

The First Steps.

be

mentioned. This organisation pro- posed to make loans of exactly the type which thousands of banks had

At one time the Company, which -"But about at the end of 1930 the been searching for, but it got no dates from 1594, and is the only public at large began to realise that business. military body over which Parifa- something more than a temporary nunciation of their due seems toment has no direct control, claim- flurry was taking place in the busi-Corporation and the special com "Both the Commodities Finance The China Mail be a habit of that people whomed the absolute right of electing its ness world. The conviction grew mittees were the dying gasps of

Napoleon described as a nation of own commander.

that self-hypnotism was of little aid the argument that deflation should shopkeepers, but who are, in The City of London, however, in if a man lost his job or if the bank not be Hong Kong, Saturday, April 8, 1933. truth, the least mercenary of return for providing

permitted. practice- in which his funds were deposited however, has lost faith in this idea. The public, peoples. Both at Vienna and grounds, &c., sought to reduce this falled.

It still listens to talk of panaceas Versailles a rather impractical privilege to the right of present- "Accordingly, a new approach' to which promise to aid recovery, idealist was in the foreground of ing three candidates to the Lord the depression was sought. There- though without the old avidity.. the picture. President Woodrow Mayor and Aldermen, who should upon the nation's leaders, instead of People hope for and believe in a Wilson had his counterpart, in have final choice.

saying that nothing had happened, return of prosperity; they are re- Does history repeat itself? Czar Alexander L of Russia. Appeal was made to the Privy began to admit the existence of the signed to its being accomplished by Strictly, it cannot. With the Both dreamed of a universal Council, and a compromise result- depression and to devise certain normal economic processes. passage of years international, pacification guaranteed by ed. To the Company was accord-cures. But even this change was

"There still are special groupe- social, and economic conditions solemn covenants. Both were to ed the right of choosing its offers only on the surface; underlying

experience, disillusionment.

Parallels In History.

•

When

expectation of a return to the 1929 talning the support of the rest of the public. The day of panaceas, of level in the near future.

"During this phase of the new the sort which were familiar. in

the first three years of the depres analysis of the depression, sion, is definitely past. There is panaceas became the order of the still a danger that some day. The Hoover moratorium on

special groups will be successful in

era'

of the

human nature; mass psychology the delegates assembled in the Miniature diving equipment that inter-governmental debts in June, their pleading, but the country as a

+

*

change, so that it is impossible would, not be fantastic to dis-pointing a president, while the ness' of the business and financial-pleading for 'relief, but they are It and to the City the right of ap-belief in the fundamental sound- and some of them are very powerful for one set of circumstances ever cern a resemblance between the Crown reserved the right of nomi-structure persisted, along with the meeting with, little success in ob- to be reproduced with exactitude. astute Count Metternich and Mr. nating the commandant.</ Yet, in another sense, history Lloyd George, while Italy, the does repeat itself. The march of nascent and increasingly self- Facts You Did Not civilisation has not apparently conscious Power of 1919, filled altered the fundamental traits of by Prussia at Vienna.

at Versailles the place occupied

Know.

remains much the same; and Australian capital the menace resembles gas maska has been in 1981, led off. In rapid succession like causes beget like effects of Bolshevism had not emerged, vented in Germany to be carried in during the next few months there whole has turned its back on the old Hence the scroll

of time but they had lively recollections submarines to enable members of followed the National Credit Cor-Bix ten-, and twelve-point® pro- Jenables

of the excesses of the French Re- their crews to escape if the craft poration, the Reconstruction Fin-rammes which were to bring back fairly close

ana-volution, and their joint policy are disabled. lagles to be drawn.

ance Corporation and the Glass-new era prosperity. That is was swayed thereby Vienna treat-

Steagall Act.

Those Helped Most Still the moral enforced in a book ed vanquished France with great- Experiments in both Pennsylvania "The first of these was a co- Such, in brief," In the American published last year by Mr. R. F.er leniency than Versailles treat and Wisconsin dairies have shown operative scheme on the part of the position as the country enters the Williams, K.C., who has chosen ed Germany, but in the days in that it is possible to increase the banks for loans to those institu- Afth

year of the depression.. for its title the opening sentence professional armies they excited ing it to rays from

which wars were fought by small vitamin content of milk by subject tions which found themselves in Whether there will be a slow, of this article. He compares the less rancour than they do when carbon are.

electric difficulties. Its greatest contribu-gradual climb on a sound basis or tion, however, was to provide a drop to still lower levels will sequel of the Napoleonic Wars whole nations are mobilised, To

basis for ballyhoo at a time when depend to an unusual extent upon. with that of the GreatWar, and Britain the aftermath of the]

public confidence was at a low ebb. the leadership of the new adminis shows that there are many points Napoleonic Wars brought a mo- A system has been developed in The Reconstruction Finance Cor-tration In Washington..

mentary prosperity which was England whereby thousands of sub-poration, also, provided an admir- In the Napoleonic followed by a bitter Harvest. Beribers listen to radio programmes able subject for ballyhoo, although care the

"If it is wise it will study with Wars the effort was less intense The termination of the war had received at central stations and it was more substantial than that, years. If it does, one great fact will and concentrated than in the put an end to the abnormal ex-sent out over lines that are tapped "With the huge resources at ita stand out in clear relief that the Great War, but their duration pansion of the industries which at individual homes

disposal and a willingness to lend basis for optimism to-day is found was far longer, and they left the had profited by our naval and

to banks and railroads, it offers an almost entirely in those sections of combatants exhausted. The military expenditure. Prices fell Glass building bricks with vacuum effective method for the socialise the economic system which the armies of embroiled Europe were sharply when the Government centres have been invented that ad- tion of losses. The Glass-Steagall Government has not saved and, ceased to be a buyer. In many mit light and are virtually sound Act, while advertised to the public conversely, that the greatest cause smaller, as was also the relative trades, too, over-speculation on proof, their construction reducing as a means to meet foreign with for anxiety is now found in those cost of equipping them. But the the part of the great employers the cost of heating a building in drawals of gold, was really for the fields of activity which bave been resources of the belligerents were of labour resulted in distress, which they are used.

purpose of enabling the Federal the heaviest recipients of Federal equivalently smaller, and there There had been a widesperad no-

Reserve Banks to pump fantastic id sums Into the money market to

fin common.

י-

*

คม

Objections to Individual Help.

the powers of the Reconstruction "The next legislative act widened

Finance Corporation, permitting it to make advances to practically any- thing as long as the project would give employment and was under- taken by a corporation rather than

fore a mean can be struck. The tion that the countries of Europe Japanese have invented magnets force credit expansion. French Emperor made a bid for would be able to absorb almost made of iron, alckel and aluminium world dominion, and the price of any amount of English goods that are said to have nine times failure was the loss of his throne once the streams of trade flowed the power of the best tungsten and and exile. That, too, can be said unimpeded but the struggle two and a half times that of the of the ex-Kaiser of Germany, who had so drained the resources of best cobalt atcel magnets. has found his St. Helena at Doorn, the leading Continental Powers The parallel can be pursued after that they had little or no money the day of retribution when the to purchase luxuries, or even Bellerophon set out on her voyage necessaries, Hence came bank- with the one on board and a swift rupteles and wholesale dismis- Miss M. Wilson arrived in the an individual. At the same time motor car took the other across sals at home, The labour mar-Colony from, Shanghai, yesterday, the Dutch frontier. There is a ket was at the same time affect- by, the as, Ranpura. correspondence between the con-led by the disbanding of many ferences of Vienna and Versailles, scores of thousands of soldiers

Personal Pars.

record of the last four

MAYOR OF CANTON ENTERTAINED.

Tiffin With Leading Chinese Residents.

Mr. Liu Chi-wan, the Mayor of

the building programme of the Canton, who arrived in Hong Kong Federal Government was enlarged a few days ago on an unofficial" and it was provided that States visit, in order to perform the open- ing ceremony of the Chinese Indus

although the roles of Prussia and and sallore," That quotation Mr. Gibbings arrived in Hong could borrow for poor relief France were reversed. At either, could be applied word for word Kong, from Shanghai, yesterday five manifestations of new era con, was yesterday entertained to the victors were animated by a to Britain during the last decade, the se. Raspura, genuine desire to compose Euro-It was written of Britain during pean affairs and to establish a the years succeeding the Napo Mr, E. lasting basis for peace At leonic Wars, years of anxiety and from Bha Vienna they were not successful civil unrest Statesmen were the s. in achieving this aim, and it in frankly afraid that, Ithough Bri- bere not improbable that some of the tain had wonthe she had dispensations of Versailles will lost the per ultimately be revised. Already wrong, the Allies have modified their revigorous Bri paration claims. In November, Itself, and the pol 1815 Britain abandoned the alon, of whole of her share of the indem the dark mity, levied on France, although which us Britain had rne. the lion's

The last of the great legisla-trial Fair at Sincere's Roof gar economics was the passage of the tifin at the Hotel Cecil, by the Federal Home Loan Bank Bill leading Chinese residents of the was a passenger, which provided an surance, so it Colony, Rangurs, which arrived through foreclosure.

to Hong Kong, by was said, against the loss of homes Mr. Mok Ying-kwal was in the chair, and in a short speech wol- "An Important" rider to this bill comed their distinguished visitor. permitted the extension of the note Mr. pic also thanked Mr. Lễn Chi- |issuing - powers of: inal banks wan for the hospitality extended to

share of financing the war,

The

Brief

Tecture:

given Last

Kong University En-

through widening the ¡Statés" "bonds which

Unit

Hong Kong merchants on their visited to Canton during the Can- Municipal Industrial Fair,

thanked the gathering. welcome and in parta

orsens. Chinese for their

Ina's cause.