1934-11-21 — Page 8

WATSON

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A Workshop Of New Knowledge

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MIGHTY DISTEMPER

The full title of the new Scottish National Party Election Fund is "The National Fighting Fund League for Self-Government for Scotland."

The appeal is printed on a smell yellow card. It opens with this quotation from the Marquess of Montrose to King Charles I.:

ROOSEVELT PURSUES "NEW DEAL"

SOME OF THE LOSSES

AND GAINS

PRESIDENT'S PREDICAMENT

By Dr. Melchior Palyl,

(Professor of Economics la the University of Chicago)

Jondon. trades to such an extent as to in AUROPE, the Continent even terfere with the possibility of a

more than England, looke at great revival in that trade. New Deal's Effects The subsidies paid to agriculture

Your ancient and native King- dom of Scotland is in a mighty| distemper. It is in incumbent to the American scene with growing find out the disease, remove the apprehension... Almost everybody cause,

and apply convenient seems to agree that the Roosevelt for area restriction have been used polley and the economic course of substantially to intensify produc remedies: The present Duke of Montrose is the country are hardly intelligible. tion; the agricultural policy has On the Continent, at any rate, the succeeded in raising farm prices (in not the only member of the Clan Graham to feel strongly about U.S.A. is regarded as in the throes the Middle-West) by about 25 per Scotland. In 1932 the Duchess re of a wild inflation, or else on the cent, and attracting fresh capital, ceived a telegram in Gaelic from verge of some sort of Bolshevism. including bank deposits, into this her son, the Marquess of Graham, The pessimism of Wall Street and very risky investment.

The lowering of the gold content who lives in Rhodesta. Later the the sensational reports of labour papers enlightened her: she had a conflicts are the outstanding aspects of the dollar proved to be a boome- in which the American scene is re-rang from the point of view of the

creditor interests of America.

grandchild.

FIGHTING THE LIBERALS

garded.

The New Deal had, in the first

As a matter of fact, labour unrest in America is more spectacular than place, a most curious result, in

It was

The spearhead of the Scottish its real importance warrants, and asjatriking contradiction to one of its Nationalist's attack is to be direct-to Wall Street, it has lost a great own underlying theories. ed against Scottish Liberals who deal of its former economic leader-designed to raise the purchasing whip. For half a year or so, sharea power of the masses, but instead it

hold seats in the North.

Those who are most in danger and stocks in Wall Street went has lowered it, are Sir Murdoch Macdonald and Sir down without reflecting the real

psychology of the country. Tan Macpherson.

The Nationalists hope to capture

the Liberal vote,

Towards-Recovery...

Danger of inflation?

Of course, it should have been foreseen that a price-raising policy without inflation is not likely to The work, except at the expense of the

That is the reason for the ap- American public, just like the Bri-consumers. The rise of prices may pointment of Mr. William Webster, tish, does not believe that its money have been inadequate for the pro- WAR certainly the former secretary of the Scottish could be "seriously" endangered. ducera" needs; it

Federation, 28

App

* *

Report

The freight agent on one of the west-

After checking his goods carefully,

•

+

Honour

their in addition, the Americans, even sufficient to reduce the real income immemorial, thus giving an ad-Liberal

more than the British, are interest of the masses. organiser,

For a while, speculative activities ditional emphasis to its old name

ed in the prospect of a revival of of the "Public Library." Physi-

Your Daily Smile! business rather than in the security Bucceeded in raising the pace at да to of an absolutely safe monetary which money circulated, so Hong Kong, Wednesday, Nov. 21, 1934. cal conditions have made imita-

fill the gap created by higher prices tion impossible in many libraries,

without corresponding growth in even where there was a desire to There is one thing, to be said for standard.

True, the Budget is unbalanced,

the volume of money. But the imitate, but where old libraries these big postage stamps Farley is giv are rebuilt or extended to makeing America. They provide innocent and it may be years before it re-

employment for idle tongues,

turns to normal conditions. But "natural" tendency of the depres

sion towards higher. liquidity of room for the ever-increasing out- put of books this is the example Montreal Star: A memorial to a soap the total American public debt does The University of Cambridge to be followed. At Cambridge, manufacturer has been unveiled in not yet amount to more than that banke and of industry has overcome is to be congratulated most too, books can be borrowed, and America. It is in the form of a tablet, of Great Britain. And the country the speculative trend, In spite of all still has enormous reserves for artificial stimuli, sooner than might have been foreseen. The Ameri heartily upon the magnificent though this involves a certain re- of course.

potential taxation. new Library which was recently gular percentage of missing

Early this summer the depres cana had to learn by, bitter experi opened by the King and Queen. volumes, countervailing advan In a happily phrased speech his tages are held to make good the ern roads received a shipment on which aion in America, disregarding Wallence, that higher prices are by no Majesty described the Univer-loss. There are, of course, cer- was a donkey, described on the freight Street, seemed practically over means Identical with a higher turn- come. In spite of all individual over and greater prosperity. The "atain books so precious that they bill as "one burro." sity's latest possession as

be hoarded in locked the agent made his sport short, criticism and dissatisfaction, the sacrifices for the worshipped Higher workshop of new knowledge and must

country as a whole seemed, for the Price Level prove to be useless, ex- a storehouse of seasoned wis-presses: but the modern prin-one bureau; over, one jackass."

superficial observer, to be on the cept from the point of view of

limited groups. dom." That expresses exactly ciple is that books are for use,

safa way to recovery: Indeed, the the modern conception of the two for profit, and for delight.

"Mrs. Buntie," said the bank cashier, economic machinery of the United

Flight Of The Farm main purposes which a great

"your account is overdrawn. $42.29.”

"Daar me!" exclaimed Mrs. Buntie, States is to-day in a better shape Secondly, the plan of the New library should serve, and both

and more perfect technical cond-Deal has been made without regard «l attend to it right away

As good as her word, she straight-tion than ever before.

to international factors. Prices on way wrote and mailed to the bank aj The capital reserves of the coun-the world markets, however, fell cheque for $42,29, - '-

try are almost as plentiful as its after, and partly on account of, the physical and human resources. dollar devaluation, and this coun tors. and the enlightened public

Most important of all, the Amori teracted the internal effects of the spirit of the University authori-

have recovered from the monetary polley. Outside, obstacles. ties have brought into being in so

panicky shock of the terrific win-to exporte contributed strongly to short a space of time. Mr. Bald

unter of 1982-8. They have regained robbing the American exporter of win, the Chancellor of the Uni- versity, said that the idea of carrying the Royal Weich Fusiliers changed over China, and the depres-their confidence in the future and the hoped-for benefits of deprecia- transferring the University who are relieving the South Wales sion is still indicated to the north their famous optimism, ̈ ̈- Library from its ancient home to Borderers, is expected to arrive in east of Hokkaido, according to a a new only took shape fifteen the Colony to-morrow morning. Royal Observatory report this morned to receive what it wanted most agricultural policy of the world. The farmer's income was raised by So long as Europe refuses to buy The The first stone was

Borderers. have already ing.

the new policy and his debts lower-American, farm products the farm- laid in October, 1932, and now moved out from Murray Barracks million and a half books stand into tents on the Murray Parade The Taikoo Club are holding ed; the workman's position was ing problem of the Middle-West re- Large parts of waiting some, precious to the ground, and have left the Barracks their close of the season dance at tremendously strengthened and his mains insoluble. specialist, to be consulted at ready for the Fusiliers.

the Club premises on Saturday outlook for the future greatly im-the farmed area have either to be proved; the entrepreneur got more given up or permanently subsidised monopolies than ever before, and by the taxpayer.

will be adequately fulfilled in the WELCH FUSILIERS DUE impressive building which the genius of Sir Giles Gilbert Scott,) the generosity of many benefac

years ago.

TO-MORROW

1

Relieving South Wales Borderers

The Troopship Somersetshire,

EMBEZZLEMENT CHARGE

LOCAL NEWS BREVITIES

The anticyclone remains

cana

tion.

Of course, every group has seem- But most important of all is the

„

A recital by Prof. Harry Cre's more fresh pronte than in any year The poeltion of American farming pianoforte studenta, assisted by since 1929; and the masses of the has become most difficult, owing to Prof. Conrado de la Cruz, violinist, middle-class, who have to pay the the lack of international outlet. and by the German Mixed Choir, bill for all, have been flattered with Consequently, the entire industrial will be given at the Helena May on the current ideals of "nationalism" apparatus, including the transports- Monday at 5.80 p.m.

and "planning" that most appeal to tion devices depending on the mar them.

rare intervals, others to be read The Borderers leave the Colony night. daily.

for Rawalpindi on November 29, Cambridge's great debt to the International Education Board! received its due acknowledgment. Without the stimulus of the £250,0000 promised by the Rockefeller Foundation on condi tion that Cambridge raised a similar sum by the end of 1931, no one can say when the project would have reached completion.

Chinese Pleads Not Guilty

At the Soidlers' and Sailors' Home to-night, at 8.80 p.m., Profes-

Raising Of Wages The outpouring of subsidies gave

keting of the crop, are, and have to remain, in a state of uncertainty, which cannot fail to react on the

general outlook.

Education, as the King said, Charged with the embezzlement for G. A, C. Herklots is Votive in almost everybody a chance to get at

Lastly, the monetary experi- least a alice of the cake. Both knows no frontiers, and we trust of $64.17 on September 29, Wong

politically and economically it was a ments, limited as they have been that many generations of Ameri- Ching Bor, a salesman formerly Hong Kong". can scholars will enjoy the pri-employed by Hung Man Pong

A clean bill of health was re-further factor of great importance thus far, have already created- an- vileges which American bounty manager of Kim Tah Wo medicine has helped to make possible for shop of No. 47, Bonham Strand ported in the Colony during the 24 in restoring confidence that a man other unfortunate result. British

hours ended Monday,

took the country's fate into his hands who was ready to accept full all. Great libraries such as West; was remanded for a week by those with which 'Great Britain Mr. Q. A. A. Macfadyen at the

The B. Sirdhana will leave here responsibility for his actions, and to develop the relentless is so richly endowed, should Central Magistracy this morning.

for Calcutta on Friday at 2.80 p.m. able stand freely open to all genuine Mr. F. X. D'Almada Sur. appear-

Bet activity which appeals to the Ameri students and researchers. Un-ed for the defendant and pleaded Leaving Vancouver on Saturday, can sentiment for strength and fortunately, in many the facili- not guilty. Mr. P. M. Hodgson the R.M.S. Empress of Canada is progress. Everything, seemed to ties for reading are so cramped. was for the prosecution. Bail of and space is so restricted, that $100 was allowed.

half their practical value is lost

In this respect Cambridge Univer

sity gives a splendid lead to the

PEAK DOG-OWNER FINED

due in Hong Kong on Friday, indicate a further growth of pros- December 7: She will sail the same perity and the eventual end of the

depression. day for Manda,

Of course, the new system of The Aw Pau Hospital, the gift of combining contradictory principles whole world. Sir Giles Gilbert For allowing his dog to be out Mr. Aw Boon Haw, will be opened did not work smonthly, and a great Scott has designed & library without a muzzle, Mr. A. C. Ellis at Cheung Chau by Mrs. Borrett, many obstacles to advancement be- which is flooded with light, and of No. 108 The Feak, was fined $10 wife of His Excellency the G.O.C. gan to appear. where forty-three miles of steel by Mr. Q. A. A Macfadyen at the Major General O.C. Borrett, to Although wages were lagging be shelves are directly accessible to Central Magistracy this morning day at 8.16 p.m. Special launches hind prices, wholesale and even re-

the reader.

**Many years ago the late Lord Acton, himself —— though vicari-

| pusly. --- a great benefactor- to

the Cambridge Lib

ald that Cambridge possessed the only serviceable library in

SWA

He was referring of

this system of directi

will leave Blake Pier at 1.45 p.m. tall, they rose more in some indus

trles with especially.

ANOTHER UNMUZZLED DOG

Many well-known local artistes labour than in others, and out of imposed on Mr will appe cât a concert at the balance with economic productivity, A fine of

Chien Helena MayInstitute to-morrow. The rather unco-ord

Yun

rse, to

this

the Cen ning;

Magistracy

Sallowing hick dog

has prevailed there from time on

encing at 8.80 p.m. A fur, ery of planning

concert

machin

reat deal

arranged by Mrs, of trouble by rele

for December raw material.and semi

stance on

hed goods

building

#

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