1933-10-20 — Page 6

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Dispute Over Antiquities

It is not only the politicians who

are worried about the future of Irak. Those who, in memory of

FRIDAY, OCTOBER 20, 1933.

ROOSEVELT THROUGH THE MIRROR

U.S. IN AN ECONOMIC WONDERLAND

Gertrude Bell, founded the British NO SHORT CUT TO PROSPERITY

School of Archæology in Iruk a few years ago are perturbed at the five impasse which has lasted for months over the allocation of the discoveries made by the School's first expedition.

(By Sir Arthur Michael Samuel, M.P.)

London.

arc

Meantime the dollar is terrified of its own shadow. It is pour- ing in a Niagara-like torrent cul of the U.S. and seeking sanctu ary behind the ramparts of sterl Ing.

What happened was this.

The following observations Under the direction of Mr. M. E. not intended to be facetious, L. Mallowan the School unearthed] though sometimes stupidities can the certain valuable things at Arpachiya, be clarified into aanities by la hitherto unexplored site near help of logical scoffing. They may,

Nineveh.

however, serve as a mirror to ba

All Trade Is Barter These objects were taken to Bag-held up to self-deception.

We see this in the high prices of dad, where they were scrutinised by Mr. Roosevelt has been trying to British gilt-edged securities. Such the Director of Antiquities, a dis-increase the purchasing power is the confidence in Britsh finance, tinguished German expert. Dr. (price) of United States primaries while the entire world doubts the Jordan. More than half were re-the produce of fields and mines), validity of contracts expressed in tained by him for the Bagdad| Museum. The rest were given for despatch to England.

Expressed in terms of dollars terms of the dollar.

The task of the U.S. Is to find. nd cents, the purchasing power in the United States of primaries, al-wages for ten millions of unem- though higher than it was, is still played persons, and the National Recovery programma alina at At this stage the Iraki Minister too low. Even when there is no

Export Refused

and

of Education stepped in.. He re-rent or mortgage interest to find, bringing about recovery in trade, fused permission to export the anti-tne Umred States producer of All trade is barter, direct or in- fatal defect in the quities.

primaries cannot yet pay his way duct. The

U.S. trade position is that primary Ever since last May efforts have when he offers to the United States been made, unofficially and officially, producer of secondaries the money producers receive only low prices for their primaries, while the fac- to ascertain the ground for the his primaries have realised.

tory workers and the distributors Minister's action.

Secondaries are manufactured

demand high prices for second. It is not generally known that, merchandise, such as ploughs. Ties. when the Irak Antiquities Law was spades, machinery, clothing, house- The exchange or barter-1.0., framed in 1924, Gertrude Bell, who hold equipment. Secondaries in

trade-between primarios was largely responsible for it, had the U. S. are too dear for the prosecondaries is therefore, gravely considerable difficulties with the ducer of primaries to buy, because, restricted. Trade in the U.S. con- then Prime Minister, of Finance, as he obtains-notwithstanding the not find work for ten millions of but actually he dominates the Cabl-recently increased prices of wheat unemployed workers, factories are Until the dispute is settled, and cotton such a low price for working at reduced capacity of em- national problems of one part of further expeditions by the School his primaries, he has not enough plovment, and raw materials are the world from those of another. are, of course, out of the question. dollars with which to buy, from not required to be made up into the producers of secondaries, all merchandise. This keeps down the Great Conferences fail, said M.

the merchandise he needs, Hong Kong, Friday, October 20, 1933. Mowinckel, because of imperfect

Your Daily Smile

prices. of primaries. preparation. Everyone admits it;

As the purchasing power of the jand the reason why preparation |

U.S., and, indeed, of the

world is imperfect is precisely the

arises from the produce of the existence of irreconcilable na-

WOOLLEN

SUITS

and

DRESSES.

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"TRAFALGAR DAY"

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1933.

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THE HONG KONG & SHANGHAI HOTELS. 1/TD;

The League And Its True Function.

net.

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*

NASAL OCCASIONS

A

То

Roose-

An Altered Dollar

REASON

Thus far, Mr. Roosevelt Ace me "Most judges are brief and too have disappointed a sympathetic tional differences. Yet, when all the point." They are, of course, ac world and those citizens of the U.S.elds and mines, and as the re- covery of trade prógramme is not is said. the truth remains that customed to speaking to people who who had expected to benefit by

functioning With the promised much higher purchasing power success, and in order to meet the Straight talk about the present the League has proved itself to dislike long sentences.

(price) of U. S. primaries.

increases in costs of production standing of the League of Na be of inestimable value apart

meet possible ultimate failure of

and in retail prices the primary tions, such as rame yesterday from failure in some major mat-

A Tibetan flute, is played with the first portion of his National producers demand that the Pre- from M. Mowinckel, the Acting ters, on which criticism is apt!

Nose. American dance band Recovery programme, Mr. President of the Assemblr. has to be concentrated. By its mathe

veli has been empowered by Con-sident should embark upon one of not hitherto been heard in the chinery was, otherwise inevit crooners use the same organ.

gress to determine-that is, to al- more of the following schemes:

(a) Controlled currency infia- high places of Geneva since the able, have been averted; danger-

ter-the gold content of the dollar.

tion; League came into existence.

This means that, in order to

(b) Reflation; raise U. S. prices in terms of the dollar, the President can reduco the content of the dollar from 100)

it now is, to 50 cents. cents, as Then 50 cents would, by law, be made to be accepted as one dollar. It follows that 100-cents would be accepted as two dollars.

*

HOME CURED "Indigestion is often the result of too much excitement," warns a

If ous international problems have Because a mon is beside himself ia. beyond doubt, a salutary heen solved. And, apart from these days it is no sign he is leading

world's peace. In double life. thing that the position should be questions of the examined with frankness by the institution of the League is critics as responsibly placed and a centre round which a substan-Born Politician

Joseph Huggins, as fully competent to pass judg-tial fabric of international life

of Memphis, Iment as M. Mowinckel is. His has been steadily growing, and Tennessee, has been asleep for 67 get him for the words were not by any means still grows with every day of the days. We must

routine work of Geneva. A wide Cabinet. the facile fault-finding of a cynical disbeliever in those prin-variety of tasks of humanity and ciples of international co-opera-social hygiene-from the succour tion for the service of which the of refugees and the protection of League was

On the children to the war on contrary, he is concerned to de-slavery and the drug traffic-are doctor. So remember in future, fend the League as an institu: being pursued with a fulness and Hon from misunderstanding. He closeness of co-operation that folks, bismuth before pleasure! is, as Prime Minister of Norway, only the League organisation the spokesman of a group of could insure. The mistake has has

the Invoking of the States which from the first haslain in

to perform mora! staunchly upheld the League League ideal, and combated what appear-impossibilities. ed to be derogation from it. The broad facts of the International situation to-day were stated

created.

white

The World's Wheat Problem.

(a) Manipulation of the feome-

tric, or

bi- metallic, or metallic monetary standards.

Forms Of Inflation Others demand the pumping of extra credit into the monetary system, so as to force industries to By this lawful process Mr.borrow the very cheap credit and Rooosevelt can wave a magician's produce goods which they may not so be able to sell; or to borrow it to wand, say "Ballyhoo," and transform 100 cents into two dol-buy goods which they do not want, jor cannot afford. In any c280, lars to the music of brass banda.

those who advocate credit inflation Similarly, four dollars can be

lorget that a Government cannot When a woman arrives late she called eight, dollars, and so on; compel the most helpful type of

"reason, but a man has an the U. 3. citiren will in future pay borrower to use that credit. and recelve eight new dollars in- stead of four old 'dollars. That re- minds us of "ninepence for four- [pence." And we know all about that. What the rest of the world will give in goods, or other currencies, for the U. S. dollar when four bas been called eight remains to be

+

*

•

argument

The Girl in the Furniture Shop

A suite little thing.

•

•

Facts You Did Not Know.

ecen by us and felt by the people

of the U. 3.

•

Higher Dollar Prices

with ruthless candour by M. Mowinckel. Fifteen years after the close of the war he can only The disparity between the pro- say that little progress has been duction and consumption of wheat

The side car of a new German made towards securing "a better la one of the strongest factors in understanding. a purer atmos-the retardation of the economic re-motorcycle can is removed and fit- phere and a healthier mentality covery of the world. We have to ted with pontoons which keep it. If Mr. Roosevelt, by exercising jamong peoples." The possibility day some signs of progress towards afloat and enable it to be used as

of war hangs over the future of the diminution of its effects. The boat for one person. the nations. But is it reason-International Committee has begun

dollars con-

(Continued on Page 10).

PETTY THEFTS BY EMPLOYEES.

Two Shop Messengers Bound Over.

l'un Cheuk, and Wong Yat two his power to determine the gold content of the dollar, should de-messengers in the employ of Ye jelde to provide the producer of Olde Printerie, China Building, were each bound over in a sum of able to blame the League for the task of operating the Wheat Efficiency of 97 per cent. is claim- primaries with

50 cents instead of $50 by Mr. Balfour at the Central this? Is it fair to blaine it for Agreement for the najustment of ed for a new hydraulic brake fortaining the world economic crisis, the supply to demand, and it is under- airplines and automobiles as com- 100, the price, in dollars, of tarm Magistracy this morning for, steal- tle of disinfectant, the property of effects of which and here M. stood that the Danubian countries pared with 35 per cent for the and mine products will be raised, inga bottle of kerosene and a bot

and possibly even doubled. But

the firm. Mowinckel is on unassailable have arranged the allotment among average mechanical brake.

the U. S. farmer and miner are not

Both defendants pleaded guilty, grouna -have contributed to the themselves of the quota of export Increase of international ill. Lasigned to them as a whole. New A process has been developed in the only persons who use the dusking for leniency on the grounds feeling? He would altogether estimates of this year's world pro-Europe by which steam is used to lat. The U. S. producer of mecon-

jown personal use only, the exonerate the League from resduction show a considerable diminu- clean old statues and fine stope daries also ases, the dollar. So that they took the goods for their

the dollar price of secondaries, and ponsibilities which are really tion. The combined harvest of work and to restore and preserve

ef everything else in the U. S mayant, said that the firm would have Mr. V. C. Labrum, the complaine those of Governments or of the Canada and the United States is ex-their. original brilliance.”

move towards doubling liselt,

no further use for their services. peoples behind them. That is pected to be lower by 88 per cent.. true; and the fiction of repre-while the Increase in Europe out-

*

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It is hard to believe that M

-THEFT OF $245.

senting the actions of the League side Russia should not exceed per planning for the common benefit of Roosevelt can put up the price of las if they were anything but the cent. We may therefore count with nations. the Agreement may be ap- primaries without putting up the

actions of the Governments some confidence on a reduction in proved. It should lead to some price of secondaries.

The US farmer and miner may exercising its powers has been the coming twelve months of the aberation of the movements of Toften exposed, But the truth large old stocks of surplus wheat, trade, Whether the form which its receive higher prices for their pri- Coolie Gaoled For Two

Months. goes something deeper than this, the existence of which has been a regulation of international supply maries, but they have to pay higher Frequently the Governments have dead weight upon agriculture, and and demand has taken will solve the prices for the secondaries they no choice but to take part in indirectly, therefore, upon all the world's wheat problem must remain need. Will, therefore, the US, A sentence of 2 months' hard proceedings which they realise main industries of the world. That to be proved, by experiance. Any farmer and miner, whose plight is labour was Imposed by Mr. Balfour, may be futile. They are bound boyover, will not avail to abolish general advance, towards prosperity Me: Roosevelt's first anxiety, be at the Central Magistracy. this to do so by the Covenant to the disparity between productive should bring a larger consumption better off If for everything they morning, on Fung Chuen, ship, cos which their States are parties power and consumption. Under the of wheat, if we are to judge from sell, when at the same time they lie, on a charge of larceny as If fault must be found,, if must Wheat Agreement the great produce the past, and thus the operation of have to pay higher dollar prices bailes of $248, the property of Lo be found with a body of rules ing countries are to limit their exha Agreement should be essed. for everything they buy? Bau-bin, manager of the Lal Wo framed for the League without ports next year by an amount there has, however, bean so great If, after six months, the effort to cheung wine shop, 258 Hollywood enough regard for the immeasure equivalent to a 18 per cent, redue decline in the consumption of create recovery by "Codes," the De- Roadr able reserve forces of nationalltion in the area own. On the other wheat per head in all civilised soun- posit Guarantee Law for Banke, It was stated that the accused had sentiment, and with even less hand, the consuming countries have tries, while world production has and by mass hysteria has given but a good record and had been trusted regard for the differences in undertaken not to encourage any in- been enormously Increased, that disappointing resulta, drill tamper with money before, but had yielded material, moral and cultural concrease in their own wheat produc squilibrium may prove dificult to re,ing with the value of the dollar to sudden Lemptation. The money.

Bave the situation?

1 bad baen recovered: ditons which mark off the inter- tion: Considered, se a measure of establish.