1933-06-15 — Page 7

THURSDAY, JUNE 15, 1933.

WORLD ECONOMICS. STABILISATION

OF CURRENCIES

ADVOCATED

(Continued from Page 1.)

AMERICA'S MONEY GARIBALDI

PROBLEM

War Debt Cancellation Will Not Solve It.

FIVE COLLECTION METHODS

New York.

VETERAN'S

CENTENARY

Signer Mussolini Sends. Congratulations. NEW ZEALANDER BELIEVED

"The question of whether Gov- ernments can actively assist in this matter by schemes of Government.

Even complete cancellation of capital and expenditure, will also the war debts would fail to solve! require consideration. The United America's and the world's in- A

LAST SURVIVOR

THE CHINA MAIL-

To-Day's Short Btory.

TWO FRIENDS

PAR

By Guy de Maupassant.

Translated by Horace Newte

DARIS was besieged; starving, Sauvage would smilingly say to with the death-rattle in her Morissot, "What a night!" And throat. Sparrows were scarce Morisset, stirred, would reply with "Auckland, N. Z.

on the roofs and the gutters were his eyes on his float, "Better than congratulatory message mind what.

clean. One ate well never your mouldy old streets.” - Kingdom. delegation will be very ternational debt problem, in the from Signor Mussolini

Directly they recognised each ready to examine, with other delega.

to Cap- tions, how far employment can be opinion of a writer in the Har-tain W. J. Newby, of Grey Lynn, and M. Morisset,clockmaker by distressed to meet in such different It was a clear January morning, other, they warmly shook hands..

stimulated by such action."

vard Business Review. He ar-whose 100th birthday was cele-occupation, and not too intelligent, circumstances. M. Sauvage, sighing EXCHANGE STABILITY.

gues that private debts to U.S.A. brated recently was read at awalked sadly along a deserted deeply, said, "Another story now!" Referring to the great import-

boulevard, with an empty stomach Morissot, deeply dejected, replied, ance to international trade of are of such large proportions as reception given to Captain New- and stability of exchange rates, Mr. to make international payments by by the Auckland Working pockets of his uniform. At the "To-day is the first fine day of the his bands in the trouser "What a terrible time!" And then, Chamberlain said that it must neces- still impossible without other Men's Club.

sight of someone he knew he stop-year." sarily be attempted in two stages drastic economic changes.

which would

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224

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Captain Newby is believed to Ped short. It was M. Sauvage, an The sky was all blue and full of Immediately the objective should America's net creditor position be the last survivor of Giuseppe angling friend."

soft light. be be secure approximate stability between the

Dreamy, and sad, they walked side currencies of the on foreign investment account is Garibaldi's English Legion of Every Sunday, before the war,

1000 picked men which was sent Morissot had got up with the sun, by side, until Morissot sald-"What principal countries of the world, about $11,000,000,000, he says,

achieved in equivalent at an extremely con- by the British Government to and with a bamboo rod in his hand about our days by the river! Some-

and a zinc bait-can on his back, had thing worth remembering, eh!" '80 far the principal counservative estimate to $550,000,-Italy in 1859.

1000 interest due America annual- The message which was sent taken the train to Argenteuil "Shall

ever fish again!” counteract fluctuations in the value Amount due on the war debt through Cavaliere G. Formichel Alighting at Colombes he had walk-sighed M. Sauvage. of their currency caused by tem-account is another $250,000,000.|la, Italian Consul at Wellington,arrived at the spot he had, dreamed drank an absinthe, then went for a||

ed to the island of Morant, then They entered a small cafe and There are five ways to get this was as follows:-"Kindly con- of during the week. Here he start-walk in the streets: porary movements of capital rather; than by fundamental economiejsum, he says, as follows:

vey to Captain Newby my heared to fish, and left off only at factors. The first stage should be

1. To reduce American exports ty wishes and sincere apprecia- by $800,000,000. dealt with immediately.

tion of his services under Gari- nightfall. As regards the second stage, the 2. To enlarge American imports baldi." United Kingdom delegation endorse by that amount.

tish Wireless Service.

INTERNATIONAL CAPITAL FLOW NEEDED.

Some three months

On some days they never ex-

Words, however, were

*TO-MORROW'S STORY.

To-morrow's story will be "White Man's Magie," by Captain F. McDermott.

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Morisset sudently stopped. "What about another absinthe!"; be said. And every Sunday he met a jovial,|

M. Sauvage was agreeable, and stout little man, a draper, who lived the view that the ultimate aim of 3. To increase expenditures of N. A. Ching, president of the another keen. fisherman. They often

ago in the Rue Notre-Dame-de-Lorette, together they entered a wine shop. monetary policy should be the re- American tourists by the same Working Men's Club wrote to passed the best part of a day to- storation of a satisfactory interra-figure.

Signor Mussolini and explained gether, with rods in their hands, tional standard-Router and Bri-) 4. To lend the $800,000,000, the circumstances of. Captain their feet dangling over the river.

5. To sell in this country Newby's service in Italy. American securities held by Ching also mentioned that a re-ship.

Mr. Thus they had struck up a friend- foreign investors to the extent ception to the captain to celebrate After stating the conditions of $800,000,000. Long-term in his hundredth birthday was in-changed a word. On others they under which the United Kingdom vestment of foreigners in Ameri-tended, and proof that Signor chatted. would feel justified in returning to ca total about $4.700,000,000 par Mussolini remembered came the gold standard Mr. Chamberlain value.

the form of the message.

in really unnecessary: They both loved dealt with the abolition of exchange "Would the impasse be resol-

fishing, and that was enough.

They came out feeling reckless, a The telegram was read to Cap restrictions, and expressed a hope vable if the debts of governments tain Newby and he was delight rejuvenatening, about ten, when the

In an empty that the Conference would take posi-to our "Government were wiped ed to receive such a message of peaceful river, and beat down on the their faces. tive action to overcome the exchange out?" asks the writer and replies appreciation. difficulties which have given rise to that this supposition

backs of the two ardent anglers, does not Mr. Ching presented Captain Morisset would sometimes say to his Sauvage stopped short,

Fuddled by the lukewarm air, M. THE APPEAL OF INCOMPARABLE those restrictions.

stand analysis, because the $550,- Newby with an engraved pewter neighbour, "This is all right." And Rises in wholesale prices of food-000,000 due from private invest-pot, and the recipient later cele M. Sauvage would reply, "Don't stuffs and raw materials and an in- ments would still hang over. This brated the occasion by drinking know anything jollier. This was crease of world trade, would contri-total, he says, is a low estimate a pint of ale with club members, more than enough to bring them bute powerfully to reduce these dif-since the paper value of those in-

Born in Cambridge, England, together. ficulties, and would assist in bring-vestments is $700,000,000.

and graduated Bachelor of Arts ing to an end, both the "Standstill"

In autumn, when He holde it implicitly neces-at the University, Captain New-drawing in, the gorgeous sunset, re-I know Colonel Dumoulin. I'm sure the light was French outposts are near Colombes. arrangements in respect the short sary in foreign lending that the by joined the army, and he was flected in the water, filled this he'll let us go through." term debt, and the transfer difi- lender will accept foreign goods a lieutenant when, in 1859 the with red clouda, coloured culties as regards external indebted-so that balances for payment may famous Legion of 1000 strong river, set aflame the horizon, seemed thought of sport. "I'm on," he all the Morissot lost his head at the mere be found. This implicit neces-was formed in England to assist to spread fire These exchange and transfer di-sity was overlooked by the ban- Garibaldi.

between the two said. And they separated to fetch culties would also be greatly kers who made the loans, he says, stormy passage out to Naples, the of the leaves, now trembling with

After a particularly friends, and gilded the autumn tints their tackle. diminished by the resumption of and even if it were not, national English adventures immediate apprehensions of winter. Then M. the main road. They reached the An hour later they were wallpg normal international lending. In- opinion makes it impossible for ly went into action under Gari- deed, the revival of world trade de- foreign nations to sell enough in baldi in his what are now known pended largely upon the renewal of this market-Reuter.

ness as a whole.

the international flow of capital, and every effort should be made to restore the stability and confidence required to render this possible.

STOLE FOR FOOD.

Young Married Woman

Sent To Prison.

as "shock troops."

Among Cap-

+

"If we only could!" he sighed. "Could what!"

"Go fishing." *But where?**

"To our Island, of course. The

village in charge of the Colonel He laughed at their fantastic request,| gave them the pass-word, and let.

tain Newby's greatest treasures EDUCATION BOARD them go through the lines.

to-day are a photograph of Gari- baldi, the badges of the cam- paign, and a letter from the of ficers and men of the Sixth Com- pany of the Legion.

MEETING

They had soon left the sentries behind them, had passed abandoned; Colombes, and found themselves by:

Appreciation Expressed a small field of vines which descend-

To 'Dr. Minett.

:

*

20188-

TARIFF REDUCTIONS. Referring to the growing ob- stacles to international trade, Mr.

ed towards the Seine. It was not Chamberlain expressed Willingness

On his arrival in New Zealand

far from eleven o'clock. to examine any proposal for attain-¡

in the sailing ship Winterher ing a reduction of excessive tariffa Pleading that she stole for food, by volunteered for service in the day afternoon.

Stretched before them, Argenteuil (Captain Coudie) Captain New-of Education was held on Wednes-of Orgemont and Sannois dominated The 89th Meeting of the Board seemed a dead village. The heights by multilateral action," Any such proposal must be effective in secur-fisherman at Aberdeen, was senten- Waikato district. At the cessa- Director of Education, Mr. N. Lempty. The cherry trees were bare.

a young Chinese woman, wife of a Maori War, and fought in the Members ing really tangible reductions of exced to six weeks hard labour by tion of hostilities he joined in Smith,

the country. The great plain which | present were:-the reaches to Nanterre was empty—so : cessive tariffs, must commend suf-Mr. Schofield at the Central Magis-the great stream of people who Senior Inspector of English Schools, ficiently general measure of support tracy this morning.

B.A. (Chairman); the and the fields were grey. and cover a wide enough area, must

Sergeant Armitt told the Court the Thames goldfields, but war Senior Inspector of Vernacular went seeking their fortunes on Mr. A. R. Sutherland, M.A., the

M. Sauvage pointed at the two not impose upon low tariff coun- that the defendant stole tries disproportionate sacrifices, and wrist watch and $4.20 in money land in the Taupo district, and el Arculil, Rev. Fr, Bryne, SJ,

a gold unsuccessful.

beights.. He then took up Schools, Mr. Y. P. Law, B.A., Mr. Asaid.

"The Prussians are up there," he must not have injurious repercus from a coat in the next cubicle. The farmed there for many gions or lead to tariff wars or other owner, on discovering his loss, in-In 1867 he was married to Miss AEC, Mr. H. B. L. Dowbiggin friends seemed paralysed with ap yesra. Ph.D., Capt. P. S. Cannon, MA, stretched before them, the two And, seeing the desert that economic hostilities.

formed the principal tenant of the Janet Caitcheon, of Whangarel. O.E.E., and Hon. Mr. S. W. Teo, prehension. REDUCING TARIFFS. In the United Kingdom's view, dant, she admitted having stolen and took up his residence in

fat, and on questioning the defen Twenty-five years ago he retired O.B.E., LL.D. reduction of customs tariffs could the money and returned It. The Auckland.

Neither of them had seen a Prus- best be achieved by a series of wrist watch, which was valued at.

The Chairman informed the bilateral negotiations, of which the $10, had been pawned for 80 cents memories of sporting affairs at Ordinance which had been recom-sacring, starving the inhabitants, Įklan, but they had sensed their Captain Newby, retains vivid of, and additions to the Education ruining France, pillaging,

Board that the various amendments presence around Paris for months, Conference should do all in its Continuing, Sergeant power to promote.

These agres said that the defendant's husband looked forward each year to the by the Governor In Council,

Armitt Cambridge University, and has mened by the Board, had been made invisible and all powerful And ments should be valid for at least was mostly away fishing and left Oxford-Cambridge boat race. He

With this aim in view, com- $16 in rent at Cheung Chau, and before leaving England was one tion of Dr. Minett's efficient medical

his wife to keep herself. She owed also followed cricket closely, and wishes to record its deep apprecia-this race, unknown and victorious.. A resolution that, "The Boarded with the hate they nourished for sort of superstitious terror consort- mercial treaties should not be ter-$2.70 for the cubicle in which she of a side of 22 which played All work during her tenure of office" them!" stammered Morissot minated before tariff negotiations lived.

"I say! Supposing we ran into, England-Reuter.

The report of the Medical Officers replied M. Sauvage, who could not "We could give them fried fish,” BRITISHER DESTITUTE of Schools for March and April was repress his Parisian waggishness.

laid on the table, Sent To House Of Dentention

The adoption of the report of the eo got on their nerves that they But the all-pervading silence had Estimates Committtee of the Board could not make up their minds. Thomas O'Neill, a British sub-wee carried unanimously. ject, again appeared before the

At last, however, M. Sauvage re- covered his nerve, Court this morning on a charge of SWEDISH RULER'S vagrancy. Sergeant Mottram told the Magistrate (Mr. Wynne-Jones) A Chinese coolie fell from a plank that the defendant. left the House They would be prepared to co-attached to the b.s. Tascal at Talkao of Detention two months age and operate in the regulation of wheat Docks yesterday and was removed to had exhausted his money. He had

•supplies and supplies of other food-the Government Civil Hospital in a been employed but had lost his stuffs on the part of the princpial serious condition. ́* food exporting countries, with a view. to restoring and maintaining|

:some years to come.

are undertaken, and then only after] The Magistrate in convicting the -effort has been made to reach agree-defendant remarked that the hus-

ments by negotiations.

Proceeding, Mr. Chamberlain said wasted his money, and left his wife band was probably the sort that that the United Kingdom delegation unprovided. "were strongly in favour of pro- gressive abolition of all arbitrary imposed quotas. In view of the disastrous alump in prices, the Bri- tish Government were themselves engaged in promoting the regulation of supplies of several food pro- ..ducts.

News In Brief.

was carried unanimously.

BIRTHDAY,

“We'll get on with it,” he said. "But we'll have to look out.”.

Crawling, or bent double, they went down to the river, taking every Observance To-morrow. advantage of the Tines, Luz, cover, their eyes well-skinned, their ears King Gustav V of Sweden of the on the stretch. Job.

Goths and the Wends, will celebrate An order was made for the, do-his 75th birthday to-morrow,

Faced with a strip of bare earth, Six Chinese were picked up from fendant to be kept in the House of Born on June 16, 1858, King the river they concealed themselves they started to run, and on reaching

Gustav V succeeded to the Swedish in dry reeds...

a reasonable level of prices Brithe sea by a fishing boat East of ¡Detention.

tish Wireless Service.

Lamma Channel yesterday and sent

to the Secretariat for Chinese

Affairs. The men were stated to:

BRONZE OF CONFUCIUS STOLEN have jumped from steamier yester

day,

Personal Para,

W

throne on December 8, 1907, this Then Morissot, laid his cheeks to being his 26th year of ascension...the ground in order to learn (7'any- On September 20, 1881, he mar- one were about. He heard nothing. Among the passengers aniling on ried the late Victoria, daughter of They were quite, quite alone. Stating that it had been given to

the RM8. Empress of Japan, which the Grand Duke of Baden, and had Reassured, they started to fah. leaves Hong Kong to-morrow is issue two sons, the Heir Apparent Before them the dcerted land him to carry, a Chiness was con- A cat-thief who was surprised by Miss E. Thom, M.A., assistant mis Gustaf Adolf, Duke of Skane, Crown of Marante blotted out the further victed of unlawful possession of the inmates on the first floor of No. tress, King's College. Miss Thom Prince, who married (1) the late bank of the river Ita little bronze statue of Confucius, which 72 Yu Fook Street yesterday, fell to is leaving for a short vacation in Princess Margaret of Concaught restaurant was shut up. It seemed was found in his possession at the street when he was chased. He the U.S.A. and will return to Hong who died on May 1, 1920 and (2), as though it had been abandoned Whitfeld,

A fine of $25, or one month's **s removed to the Kowloon Hos- Kong early in October accompanied Lady Louise Mountbatten, Princess for years, hard labour was imposed.

pital in an unconscious condition by her mother.

of Battenberg

(Continued on Page 11.)

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