1933-07-12 — Page 6

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THE CHINA MAIL.

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HERE THERE

and

EVERYWHERE

Stainless Steel Train

New York.

Speed and beauty will be the watchwords of a new era in railway trains If an experiment announced by the Great Union Pacific Railway iproves successful,»

The chairman of the company" an- nounces that an order will be placed i for the construction of an entirely

new type of passenger train, to have

WEDNESDAY, JULY 12-1933.

IMPOSSIBLE WAR DEBT

CONTRACT

SATISFACTORY REVISION

CAN BE MADE

·WILL

FRUSTRATE WORLD CONFERENCE

By SIR ANDREW MCFADYEAN,

a speed of 110 miles an hour, light- Secretary of the Reparation Commission, 1922-24.

weight, and full streamlining",

The train will first be operated on

special runs between the larger

600 Horse Power.

London. June 25. students of the world's economic

cities on the system, with the pur- The so-called "War Debts" con- problems for the following view.

The Trade · Problem pose of demonstrating its practisist of (1) the inter-allied debts cibility for the regular main line proper, being the amounts which War debts and Reparation have through passenger train service. France, Italy and various lesser represented a claim by the United * Consisting of three car-with one countries owe to this country, sa States, and to a lesser degree by truck between each two cars and the well as amounts which are owing France, on goods and services; the ears hinged together the train will to some of our debtors, for instance money originally advanced was ex- have cooled and filtered air and will| France, by others of our debtore, pended on purposes of destruction, be constructed either of aluminium] for instance, Jugolalavia, and (2) and the debtors are not therefore alloys or of stainless steel.

the amounts which all of us owe to in a better position, by reason of the United States. `

[having contracted the debts, to It is the second category which produce the goods and services. The "engine" will contain a 600

It follows that substantially the horse power distillate (a non-ex-is important: if a satisfactory re-i plosive fuel) burning internal com-vision of contractual obligations transfer of these goods and services" bustion motor with direct connected towards the United States can be to America required an expansion clectric generator and also a 30ft. made, it is inconceivable that there of world trade; it required Ameri- railway post office and a baggage will be any difficulty in readjusting ca, who had ceased to be a debtor room The second car will be a the amounts which the European and become a creditor, to import coach seating 60 passengers. The States owe each other. In effect, more than it exported. In fact, [America has shown since the Armi- rear car will seat 56 passengers, and practically all the sums which are

istice an increasing reluctance to will have a buffet at the rear end to collectable as between the Euro- serve light meals to passengers in pean ex-Allies are required by the accept imports, and has preferred respective creditors to meet their to protect her home market by

jraising tariff barriers. American liabilities; America is

For various reasons other coun- the final creditor and the rest of tries have followed suit in refus- as constitute a clearing office for ing to accept additional imports, the collection and transfer of the forced out under the pressure of sume due to that creditor.

political debts which were not, like Since the Young Plan canle into private commercial debts, capable force by far the largest portion of of automatic adjustment to capací- the sums due by Germany as Reparty to pay. ation, which is not normally thought

their seats?

APPROPRIATE.

Wife (to hubby loaded down with

Your Daily Smile

REMINISCING DEATH.

rail, road, and sea, will increase. MISS BUGG: My, how I dread The May count of the unemploy- to think of my 30th birthday. GUNN. On June 29, 1933, at the ed, coming, as it did this year, MRS. WEBB: Something ter Red Cross Hospital, Shanghai, well before Whitsuntide, has not rible must have happened on that Lillian Tom Gunn, aged 40 been affected by the labour re-day that you remember it after all of as included in the term War by lending Europe the money with America postponed the evil day years. Widow of the late Capt. quirements of the wholly sum-these years.

Debts," is earmarked for the Ameri-which to pay her; but borowing to Tom D. Guna. Funeral ser-mer trades and services. That is

can payments. The facts.

pay interest on a debt means ac- vices will be held to-morrow. something in store.

Now -- these inter-Governmental cumulating that debt at compound Sunday, July 9, in the Chapel and figures of to-day prove that)

debts are not an item on the Agenda inerest, and that process was bound of the international Funeral employment is distinctly better Directora, 71 Kiaochowe Road, in the insured occupations gen-packages): Now darling, the shop-of the World Economic Conference to lead to a breakdown unless the Technically they are, of course,, not debtor was allowed to pay in goods. at 4 p.m., to be followed by jerally, the only exceptions being ping's almost finished. There 15 the business of the 50 or 60 Govern-|

We have reached the breakdown; interment in the Bubbling Well those which naturally suffer a just one more package and that's

ments of the world, but of the half-Germany is in a position where she warm days, as for you. What would you like me dozen debtors and creditors, decline in the Cemetery at 5 p.m. (Hong

is clearly unable to meet the ser Kong and San Francisco pa the Ministry of Labour's survey

coalmining does. Not included in to get you?

Moreover, the United Hubby: A wheelborrow, please. Government takes the view that any cial indebtedness.

States vice of her political and commer- pers please copy),

She has to all is the great industry of agricul-

discussion of debts due to it must intents and purposes been relieved ture, which also is making its

take place with its debtors several of her political indebtedness; she contribution to the increase of

kisly and not jointly, which is a valid cannot at the moment pay what is

objection to effecting a new settle-due on commercial account. Dad: Well, they are usually re-ment in the Geological Museum, but

Tragic Paradox not, perhaps, to discussing princi What Germany owed to Her late Emergency Powers Forferred to as such.

Mr. Roosevelt. twice there isn't much left of him, world.

is there?

The China Mail

Hong, Kong, Wednesday, July 12, 1934

Trade Improvement

In Britain.

employment and the revival of

confidence.

It is the commonest of re- marks that the United States Congress has conferred upon Mr.

ONCE IS ENOUGH. Son: Dad, a man's wife is Tbetter half, isn't she? :

Son:. Then if a man marries ples, which concern the whole enemies they still owe to America.

Theortically a reversal of the po Artificial Situation

licy followed for the last fourteen If a dozen of the world's leading years, and a substantial lowering physicians were called into consul of trade barriers might enable IN. A HURRY

Įtation over a patient suffering from them to pay. In fact, there will The improvement in employ- Roosevelt greater and more third story window. A spectator should think it unreasonable if one no recovery in international trade A man was seen to jump from a complication of maladies, we be no removal of restrictions and ment, in Britain, which has been varied powers than were ever recorded month by month since given to a President except inhurried to the rescue to find the foreign specialist refused to disso long as the world at large fears cuss the case unless there were a that the same causes may produce January, was continued at an ac- time of war. They are called Jumper only slightly hurt.

"Why did you jump from that preliminary agreement precluding the same results-that the effort to celerated rate in May, At the emergency powers. This means height?" he asked. end of January there were only that they are contingent

all discussion as to blood-poisoning expert a sufficent surplus to cover 19,285,000 insured persons in to be used if the emergency is the jumper replied.

"Because a woman lied to me."when that was pianly one of the political debts, which have done no employment, but the number ajresolved, or if other means ofj

patient's disabilities. If that par-thing to increase the world's pro- "Lled? What do you mean?" ffcular foreign specialist monopoductivity and natural interchange fortnight ago was 9,667,000, an surmounting it come into play

"She told me her husband was lised the only serum calculated to of goods and services, will lead to increase of 372,000. During the quietly. Also implied, is a high

juot in." (same four months the number of sense

effect a cure we should have to fall unnaturally bitter competition for of responsibility on the

in with his wishes, the more readily export markets, the registered unemployed has part of the President, along with declined by over 320,000 to the exercise of his best discre- 2,582,879. This is still a formid-tion based upon the most accur- able total, but it is certainly, en-late. Information available to him.

not

Facts You Did Not Know.

if we were convinced that he was [quite prepared to approach the

forbidden topic outside the sulting-room.

con-

(Continued on Page 11.)

couraging to find that the spring Many of his warmest supporters Operated by a 100 horsepower That is, in fact, very much the ARMED ROBBERY IN

world's largest position in which we find ourselves.

NEW TERRITORIES

revival of trade has already last in Congress and in America have motor, one of the ed two months longer than it did openly expressed the hope that turning lathes has been installed in The American representatives, un- last year, and that, moreover, most of the permissive powers a German plant to handle steel up less Mr. MacDonald badly misun Attack On Samwo Brick there is a more cheerful spirit placed in his hands he will never to 32 feet in length.

derstood Mr. Rooservelt's mind, abroad. · A large contribution to employ at all. Thus far, it is

will be willing enough to discuss

Kiln, Lokmachau.

the increase of employment has only fair to say, Mr. Roosevelt been made by the building indus- has in most cases proceeded Invented by a Los Angeles en-debts outside the Geological Muse- try. The revival of building has with caution and acted upon the sideer, a new electric cutting torchum: while the other causes of eco-MONEY AND CLOTHING STOLEN been so unexpectedly rapid that best advice that he could get. develope a temperature of 8500 denomic chaos and the other cores the supply of bricks, has fallen Excepting his decisions to "let grecs, hot enough to vaporize dia-for it are being discussed in the Five men armed with two re- Economic Conference, parallel dis-volvers and five knives, attacked a short of requirements in certain the dollar. take care of itself," monds and melt tungsten.

cussions will be pursued outside es areas; but that is a defect soon and to make vold the Govern-

to be remedied, if indeed supply ment contract to pay its obliga- The United States is Brazil's for our troubles, and negotiations Lokmachau, at 1 a.m. this morning.

ted States is

to the responsibility of war debts matshed above the Samwo Brick Kiln at Ho Sheung Ho Village, has not already caught up with tions in gold, there is little to greatest supplier of paints and conducted as to their revision. demand. Activity in building complain of with regard to his varnish and Belgium, Great Britain

The situation is therefore highly The robbers held up the employ spreads rapidly to many ancil concrete acts. The cloud of un- and Germany furnish it with most artificial, and no excuse is needed ees at the point of the revolver and lary trades, and without doubt a certainty which he has left over of its paint materials.

of money and for treating War Debt" as effec stole a quantity considerable proportion of the his future course, by so much

tively, though not nominally, on the improvement in employment is to hindering the return of con-

The robbers escaped in the direc- An electric lighter, guarded from Agenda of the Conference. be ascribed directly and indirect fidence, is another matter: Yet the weather by shield, has been Economists differ on the question tion of Man Shan Loong ly to investment in building, there are encouraging reports of erected at one corner of a Texas oil how far war debts were responsible lice by Kong Ming, partner of the

The report was made to the po But that is very far from being his determination to select and held to eliminate the danger of for bringing about a depression Samwo Brick Kiln the complete story of the better utilize skilled men in the propos-smokers using matches.

of things and the better outlook. ed work of pulting the railroads Every Important branch of in- on their feet and helping busi- distry was doing better-in Mayiness to recover. It la largely on-

which is unprecedented in econo mic history for its extensiveness and infensity, but their differencés [relate to the question “how far”

clothing.

News In Brief.

than in many preceding months, this ground, and with this ex-friends are quick to assert that and not to the question "whether, In honour of the French Nation- The engineering and the lighter pectation, that many large indas. if any experiment fails, he will They do not differ to any - signi- al Day, July 14, the Consul General metal trades all contributed to trialists have professed a will be the first to abandon it. Ancant extent. on the more urgent for France and Madame Dufaure de the increase of employment, and ingress - end even desire to co wise man, even in public office, question whether there is any hope la Prade will be At Home at the the textile industries were busier, operate with him in the carrying learne by his own errors. A of restoring that confidence which Consular Residence at No. 13 Peak It is usual for the clothing trades out of his plans. No-one doubts brave man will resist public he the first essential for a revival of Road, from 11:30 am to 12.30 p.m. to reach the seasonal peak of Mr. Roosevelt's excellent inten- clamour urging him to do some- prosperity unless there is a re-ex-ev their activity just before Whit- tions. He unquestionably has at thing foolish. That kind of, amination, followed by cancella-H. M. S. Wild Swan of the 8th euntide, and the bright warm heart the good of the American courage, together with a display tion or a drastic writing down, of Destroyer Flotilla,—Jeft, Wei-hai- weather has been their ally. If people and the credit of the Goy of sound judgment, looking be- dead-weight Governmental debts, wet on Monday and is expected to they should be rather less busy ernment. He cannot look for fore and after, is what America. There is no space to be anything arrive in' the Colony on Friday, in the weeks that ile ahead, there ward to whe has called "ex--and the world would be de but dogmatic, but it is not hazar, while H, M. S. Verity left Taingt Is the probability that the busi, perimentation” simply " for - the lighted to find and applaud in dous to claim that there would be yesterday, and is expected pesa of passenger transport, by pleasure of dabbling in it. His President Roosevelt.

substantial agreement among all rive here on Saturday next.