1912-11-30 — Page 5

Page

Caller Falmer &&

The Wine Merchany of the last

INAPIER

JOHNSTONE'S

'SQUARE BOTTLE”

WHISKY.

UNVARIED FOR OVER

150 YEARS

THE SAME TO-DAY AS IN

1745.

BEWARE OF IMITATIONS.

SOLE AGENTS IN HONGKONG :

LANE, CRAWFORD & CO.,

and from ALL WINE MERCHANTS,

The Voice of the Physician.

[02

Oats Bre simply "Plasmon magnificent, and I have porridge made from them every morning,"

Sir J. C.-N.D.

ANALYSIS

CANNOT LIE and Analysis proves that

PLASMON OATS

Bra

Scotland's

Best"Enormously increased in food value by the addition of Plasman."--Lancet.

PORRIDGE IN PERFECTION.

4 minutos, boiling amly,

4

PLASMON is used by the ROYAL FAMILY &

PLASMON LTD., London, England.

FREE COUPON Entilling Anyone with RHEUMATISM

to receive prepaid our celebrated Tro, is, "The cauer and oure of Ehoumatiam, "illustratod in colours.

Namo KARTIN

Address....an Only one book to one address,

137 B

If you tave Rheumatism, eat out the abore Coupon and send it to us with your name and address pininly written on the blank line. Return post will bring you our co chrated book, "The ease and care of Khonmatism, explaiting the wonderful treat meat which is caring en many thousants of Rhou. matic sufferers. This treatment, we call Magic Foot Drafte, and they are curing very bad cases of every kind, no matter how asvero. They are earing cases of 30 and 40 pedes' suffer. ing after dorters and baths and medicines had *ailed. Send us

tho coupon to-day and wo Know that after receiving

our Booklet and reading

MAGIC

THE HONGKONG DAILY PRESS, SATURDAY, NOVEMBER 301¤, 1915.

INDIAN FINANCIAL

MANAGEMENT.

THE SILVER QUESTION,

[BY AN ANGLO-INDIAN CORRESPONDENT OF THE "TIMES;"]

In three previous articles Indian criticism of the financial methods pursued by the Secretary of Stato lins hoon set forth. It has been shown that two of the principal recunimendations of the au thoritative Commission which laid down the bases of the Indian currency system have been ignored. They recommended the establishment of a mint for the un- restricted coinage of gold in India; after 13 years of currency wandering, India is still without a gold mint. They recom-- mended that the Gold Standard Reserve should be held in gold; of the 19 millions sterling in the Reserve, practically nothing is in gold, Then it Was A reasonable shown that instead of balance of

Rome four million ster- ling, which formerly amply sufficed

of to finance the Secretary State's operations, since 1907-08 bis cash balances have been inflated until at, the close of the last financial year they were over 18 millions; this represents a sum of many millions sterling withdrawn from India, and lent to approved" London banks, with or without, security, at rates of in- forest one-half those prevailing in India. We now come to the Paper Currency Reserve; the method of purchasing silver for coinage in India; and the effect of

by the Secretary of the methods

pursued State, not only on Indian public opinion, but upon Indian credit in London.

WM. POWELL LTD.

TELEPHONE 346.

HIGH-CLASS TEAKWOOD

BEDROOM SUITES.

GOOD SELECTION OF PRETTY TOILET SETS.

UPHOLSTERED BEDROOM

LOUNGES and CHAIRS.

INEXPENSIVE

CARPETS and RUGS. DOUBLE, SINGLE AND TWIN

BEDSTE ADS.

1 VERY

DESCRIPTION OF BEDDING.

COMPLETE FURNISHERS.

STOMALIX

A Tonic, Digestive and Stomachal Remedy,

STOMACH and BOWEL trembles, even in the most chronia and obstinate cases. reloved by increasing Cre appetite and stipulating the digestive process, thus enabling the sufferee to digest the food better, and insuring perfect assimilation and nutrition. Storealix has a pleasant taste; physicians prescribe it

Enjoys an uniwersal reputation of many years' landing.

For Sale by all Drægrists,

Distributing Agents-FRANCIS NEWBERY & SONS, Ltd., London, Eng.

AGENTS: A. S. WATSON & Co., Lrs.

[94.21

of

There is no

It is a fact that old friends are truest, and if so, why? Yes-because without a doubt, a friendship that has withstood the test of time is not only the truest of bodily ailments and their removal, but the best. When it comes to a question here again you find an old and well-tried

standing our treatment you will not hesitate to at such a time that the demand on the the establishment of universal currency friend in Mother Seigel's Syrup. the

and thoroughly under. accept the offer we shall make you. Our faith is so strong that our treatment will once you that we want you to write immediately for Booklet, so but the abcre coupon and send it to the Magic Frot Draft Co., Chins Agency, P. G. Por 384. Hongkong, China. Send no money no stamps, just the compon and we will read our Booklet by return of post.

[1341

Rowland's Macassar Oil

FOR THE HAIR.

Preserves, Beautifies, Restores It. Closely resembles the saturat oil in the hair, which nature provides for its predivation. No other article posses this property. Without it the hair becomes dry, thin, and withered. Poor hair are the effect of a beautiful face. Good hair adds charm and interest to a plais' one; every Toilet Table should power chls oil,

•

LADIES should always use it for their owa Helr and for their Children's Hair an it lays the foundation of luxuriant growlb. Golden Colour for fair hair.

Of Stores, Cherdista, and ROWLAND'S, 67, Hatton Garden, London. Avold cheap worthless 'imitations. buy only Rowland'.

DR.

Approved and well-tried are

GASPARY

MACHINES

for the Incrative

UTILISATION OF SAND

to Brisks, Hollow Blocks, Roofing Tile", Slabs, Pipes, etc.

Booklet No. 208 free of charge.

Machine Worka

DR. GASPARY & Co, Markranslädt. ·

Gormany. Export to all parts of the Globa,

1431-2

Paper

a

THE PAPER CURRENCY RESERVE. The functions of the, Paper Currency Reserve are indicated by its name. Since 1862 the Indian Government have ae- sumed the sole responsibility for the issue of paper money, which circulates to the extent of between 600 and 700 million rupees. It is provided by statute that the paper curreney shall be supported by a reserve of gold, silver, and securities. The metallic reserve is the support for the paper currency, and can only be This is such an ob required in India. vious proposition that until compara tively recent times no one thought of the in reserve being held elsewhere than

But con India, and mainly in coin, mencing with 1905, the Paper Currency Reserve has been attacked by the cen tripetal forces which have drawn so large a portion of India's resources to London. Of this reserve, £2.7 millions sterling are invested in sterling securities in London, and £5.7 millions are held in gold in the Bank of England, ear-marked for the support of the currency, and, theoretical- ly, it cannot be used by the Bank of England for any other purpose. A cer- In the years 1965-07 £42 millions of, chases of silver for coinage, purposes. tain specious case was made out in aup: rupees were issued from the Indian Not an ounce of silver is bought without port of these changes by Sir Edward mints. If we could look into the minds the publication in an official return of Baker, the Finance Member, when they of the Finance. Members of those days, no the quantity acquired, the source were introduced. He argued that the doubt we should find the belief that supply, the price, and the commission. portion of the reserve in London is nearer these halcyon days were going to last for The United States are also periodical the place where silver would have to he ever, that there would be a continuous buyers of silver. The practice followed purchased; and that it provides a condemand for rupees, and that the profits in the United States is, I believe, for the venient means of financing the purchase on coinage, instead of being added to Government to estimate its requirements of silver and of replenishing the Secre- the Gold Standard Heserve, might be for the year and to make proportionate tary of State's Treasury balances. The diverted to other purposes. The day of purchases every week. answer is that a special stock of rupees reckoning came in 1907, when, as the secrecy and there is no disturbance of The India Office is held in India in the Silver Branch of result of the American crash and the the Silver Market.

alone is committed to a policy of secrecy. the Gold Standard Reserve to satisfy timorous handling of the reserve, ex- sudden and emergent demands for rupees change dropped to is. 3-21/32d. and 17 in the general situation of Great Britain in regard to India, and in the particular beyond the capacity of the Paper. Cur. millions of gold were withdrawn from rency Reserves to meet. If that special the Government reserve. Since 1997 there relations which exist to-day, this secrecy has been no fresh issue of rupees. A is not only bad, but politically dangerous.

has been stock has to be utilized, bills or tele graphic transfers can to drawn against considerable improvement it in London, thereby providing funds effected in the organization of Indian there to obtain fresh supplies of silver credit. The Nativo States have ceased to OLD FRIENDS ARE TRUEST. for coinage to replace the rupees drawn hoard, and are freely investing their from the special stock. Also, convenience resources in Indian securities and in- in finance cannot be allowed to impinge dustry. Through the multiplication of on the fundamental character of the indigenous banks, with the institution of reserve. Moreover, in a great crisis prudential deposits, the small investor international affairs, it is an accepted has been brought into the market. feature in British strategy that the sea Simultaneously, the paper currency has communications between England and India might be interrupted. It would be increased in popularity, especially since

notes, Sovereigns are also used to Currency Reserve might be certain extent for the financing of the unequalled remedy for indigestion and It has beon in use for liver troubles. over forty years, surely à period long greatest. What then would be the value

enough to test its worth. of gold in the vaults of the Bank of crops and the making of remittances. In pendent upon the token currency. But,

Mother, Seigel's Syrup has restored England for the purchase of silver bul these ways India has become less de lion which could not be shipped? What quite apart from these natural changes, tens of thousands of men and women to would be the value of the staring the demand for rupecs on the Paper rcbust, good health, From every part of securities which could only be sold at Currency Reserve has been illegitimately the civilised world thousands of people great sacrifice and the proceeds of which checked. The diversion of huge sures of who once suffered the pains and miseries could not be transferred to the point Indian money to London has reduced that usually accompany stomach and liver where they were wanted? fallacy underlics this reasoning which the demand for coin on the Paper Cür; complaints, have written of their cures rency Reserves by meeting the demand by Mather Seigel's Syrup. That is why, clings to so many of the Secretary of from other sources, such as the Treastry wherever you go, there is generally some- State's financial operations-the sacrifice balances. So long as the Government of cne ready to recommend it. Having of principle to expediency, and the con India has periodically to come into the sequent weakening of the stability of the market for large quantities of silverproved its worth they recognise it as an Indian currency.

The gentleman who wrote the following It is contended that not one rupce of bullion it is a deliberate invitation to old and tried friend. the Paper Currency Reserve should have the speculative operator to corner the

Syrup was a good friend, and as you been transferred to London. It should market against it. A great speculation letter also found that Mother Seigel's be held in India, chiefly in coin, and if in silver was organized in Bombay, and will see if you read on, a friend of his

the Finance

was also of the same opinion. Writing the Budgets the metallic reserve transcends all reason.. able demands upon it, the balance should leave no room for doubt that he on June 7th, 1912, Mr. P. F. Smith, of be invested in India, as previously. In a prepared to adopt special measures, and Brandfort, Orange Free State, says:

even to risk a shortage of rupees, in

"I suffered all the discomfort of a great emergency this gold and securities in London would lie fallow, order to prevent the Government from and there is a deep-rooted belief that, being caught by it. These measures took disordered liver for nearly five years. although to 5.7 millions in the Bank the form of excessive sales of Council Nothing I took seemed to allay them for

many well-known Thedicines. of England are earmarked for Indian bills. Owing to these illicit expedients any length of time, although I tried the Indian Government has been able to

"Eventually my back became so bad would be so great that the Government avoid coining rupees until now. If the I found it impossible to bend my body use, the pressure of the City in a crisis of the day would not dare to conserve interval had been utilized to buttress without acute suffering, and always had them. It is for these reasons that Indin the gold standard with a gold currency.

posture, My appetite was also very demands the retention of her own money both by means of an open gold wint and great difficulty in regaining an upright robust, I became nervous and irritable. within her own shores, and protests the gradual popularization of gold coins.

to resume the coining of My nights were especially bad, the pains against these auccessive withdrawals of the Government might not have found it much affected, and from being strong and ber resources to gratify the insatiable necessary appetite of London for Indigold, rupees on a great scale.

was allowed to slip, and the seeming more acute as soon as I retired The aggregate amount of the Paper tunity

which has been coinage of rupees has been resumed.to rest, the consequence being night after Reserve Currency transferred to London is over eight The Secretary of State is believed tonight passed without sleep; and the millions sterling, and this, taken in have purchased silver for the purpose.

with the

cash indated conjunction

It has been said, and it is submitted the Secretary of balances held by

of 17 that the contention is unanswerable, that State and the withdrawal

about two years ago, I was recommended to try Mother Seigel's Curative Syrup.. millions of the Gold Standard Reserve the only path of safety when a Govern my wit's end to find a remedy. At last, to London, represents the diversion toment Department has to deal with large London of upwards of 40 millions ster-financial transactions lies in the utmost ling, a sum in excess of the usual gold publicity. The House of Commons has it proved an effectual remedy The disappeared, and I could enjoy a full After a few bottles my serves of the Bank of England. There given effect to this policy in insisting that relief afforded after taking a few doses

the details of the Marconi contract shall night's rest. is no precedent in the affairs of any country in the world for the diversion of he investigated by a Select Committee.

I still have recourse to Mother Seigel's its -resources in this manner. No auto. If this is true as a general principle of system was thoroughly toned up and nomous Dominion would endure it for polity, it is doubly true whore India is strengthened. I felt equal to anything.

The very nature of British

splendid tone for the system." a day. It does not lessen the indigna concerned. tion with which ludia has watched these control of India renders the acts of her Syrup, at intervals, as I find it financial operations to know that the officers open to suspicion. Inasmuch ne

is that he profited by the experience Secretary of State has placed India's our greatest asset in the East is a belief Now, the main point in Mr. Smith's our broad altruism, no removable of his friend, and on his advice he took reserves at the disposal of the City with a generosity which a self-governing Do- causes of misconception onght the Mother Seigel's Syrup, and was brought

of Stater

to equal Mother minion would not tolerate, and which allowed to exist. Yet the transactions back to good health. Wherever you

satisfies his demand for silver are veiled be there is Let it be your tried and Parliament assuredly would not sanction through which the Secretary

Seigel's Syrup. It will not fail you in if it understood what was being done.

From the consideration of the Paner

Antalence, languor. headaches, ness, Currency Reserve we turn to the methods

curing such distressing symptoms of in-

its demand for silver, For many years

depression, furred tongue, pains after through which the India Office satisfies

digestion and liver troubles, as bilious-

after the adoption of the Currency Com

(72.9 mittee's report the balance of trade was

eating, sleeplessness, anaemia, and con- largely in favour of India, and there

stipation. Take Mother Seigel's Syrup

was a prodigious coinage of token rupees.

The same

THE COINAGE OF RUPEES.

the

in

Member

But the oppor-

THE PURCHASE OF SILVER.

roorning found me lifeless, and depressed, "You can well imagine my state. lost all interest in business, which suffer- ed in consequence, and I was almost at

story

in obscurity. No one outside the official cuterie Enows how much silver the trusty friend. Secretary of State has bought, where he what commissions were paid on the pur bought it, what price he paid for it, and chases. That secrecy cannot be justified. The Indian currency system is sometimes likened to that of France. The French Government has to make periodical-pur-

and start your cure now.

PUBLIC AUCTION

OF

A VALUABLE COLLECTION

5

JAPANESE CURIOS

AND WORKS OF ART "SELECTED

MR. 8. NOMURA, OF KYOTO. (Just Arrived per 8.8. "SIDERIA,.")

THE Undersigned will Sall by Public Auction,

TO-DAY (SATURDAY),

BY

the 30th NovEMBER, 1912, commencing at 2.30 PM., at his Sules Rooms, Duddell Street, A VALUABLE COLLECTION OF JAPANESE CURIOS AND WORKS OF ART, Comprising:-

A

HANDSOMELY EMBROIDERED SCREENS, PICTURES, KIMONOS, HANG- ING, PANELS, MANDARIN COATS, CUSHION COVERS, MANTEL DRAPERIES, etc., etc. VERY

PLATES, FINE KINKÓSAN SATSUMA VASES, BOWLS, and CARVED IVORY NETSUKIS, IMARI and KÚTANI PORCELAINS, št. GOLD WIRE CLOISONNE VASES, INCENSE BURNERS, and PLACQUES,

BRASS and BRONZE VASES and INCENSE BURNERS, ato. OLD COLOURED PRINTS by Famous Artists, OLD LACQUERED TRAYS and

INROS

and

SELECTION OF DAMASCENE

S. KOMAI, Comprising

BY

WORKS OF ART

JEWEL and CIGARETTE BOXES, PICTURES. CARD TRAYS. PHOTO FRAME, VASES, CIGAR and CIGARETTE CASES, WATCH FORS, BOLTS, TOILET SETS, BROOCHES, LOCKETS, CUFF LINES, sto., oto. NB-With the exception of a fow pieces the above will be sold

Now On Viow,

WITHOUT RESERVE..

Catalogues on application (new ready). TERMA-Cash on delivery.

Hongkong, 25th November, 1912

THE

SWAN

GEO. P. LAMMERT,

Auctioneer,

[1344

FOUNT PEN,

DEFIES

HEAT

Its perfect fit and scientific coneirastion'

ILLUSTRATED CATALOGUE preventing that annoying clogging and evaporation of the ink which attends the use of the old-fashioned dip pen or the cheap and nasty type of fountain pen. The Swan" has a perfect ink-feed, is fitted with a gold ais iridium tipped, does not leak, and is easily filled and cleaned.

FREE.

THE SWAN

SOLD BY ALL JEWELLERS, STATIONERS AND IMPORTERS.

**I

MABIE, TODD & Co,

Manufacturers, LONDON.

am thy Father's Spirit."-HAMLET,

BLACK

WHITE WHISKY.

AND

}

12-98

GARNER, QUELCH & Co.,

TELEPHONE 635.

JOLE AGENTS.

DR. W. R. LAMB,

[128

AMERICAN OCULIST AND OPTIOIAN, SPECIALIST IN EXAMINING THR EY AND CORRECTING DEFECTIVE VISION.

NO. 36. ASTOR HOUSE HOTEL.

Has the pleasure again of announcing to the Citizens of Hongkong that he has Opened a Consulting Room at the above address and will remain till. DECEMBER 2ND, a short yet sufficient time to give these in need of his services an opportunity of consulting him if they will make an Appointment at their earliest convorlence.

Не

fully prepared as before with the most modern instruments and apparatus, including the Javal Ophthalmometer and the Electric Ophthalmoscope for thoroughly examining and refracting the Eyes according to the latest and most approved methods, Be employed in the Metropolitan Eye Izdrmaries, and has the largest supply and grestest variety of all desirable kind and styles of monutlugs and lenses of the best quality ever brought to Hongkong, including overal thousand different sphero-cylindrical and pricmatio lenses made specially in order for the correction of estigmaum, and other ocular defects which the common spherical lenses will not correct.

10

inflamation of the eyes or lids or weakness of the ocular muscles, and those who are already Those having eye trouble or defective vision, who suffer from eye-zohes, headache, which, in most cases, are not the kind required would do well to avail themselves

using glassound opporinsity and unsurpassed facilities which are affered now for examining -

of the

and refracting the eyes and procuring the glasses of the right bind an opportunity which for completeness of apparatus and supply of leases, thoroughners of exstination, porfection of refraction which brings the vision up to the highest possible standard, and perfectly. satisfactory results, has never before been equalled in this Colory and is equal in every respect to the best obtainable anywhere abroad, as those who consulted him are willing to sttest. Being certificated in optics as in medicine, with over 24 years' professional experionice, and baring thousands of references and testimonials from well-known and influential citizens of many countries-including several British Colonies and Hongkong, which he visited in 1910 Dr. Lamb can assure those in need of his services the most thorough, eliable and satisfac tory professional work, and all glasses he supplies 'to patients are warranted to be corrected. 12331 Charges reasonable. Hours: 9 A.M. to 12 NOON, and 2 to 4.30 P.M.