OUR ENEMIES LIVING ONLY ON PAPER CREDIT,
MR. E. MONTAGU OF FALL OF THE MARK
An illuminating comparison between the financial conditions of Britain and Ger mang is supplied in an interview accorded by the Right Hon. Edwin Montagu.-M.P., Secretary to the Treasury, with Mr. A. S Draper, correspondent of the New York
Tribune.
Taking as his theme the recent statement in the Reichstag by Dr. Helfferich, the German Minister of Finance, Mr. Mon-
thegu
said:
MARCHING SONGH.
FAVOURITE AUSTRALIAN.
REFRAINS.
FULL-FLAVOURED CHORUSES.
TAR - HONGKONG DAILY PRRES, SATURDAY, FEBRUARY 5mm, 1916.
The Times recently published several of the songs sung by the troops in Flanders. Since then many excellent inarching songs have appeared in its column, one of which have served their purpose, but most of which have died at birth, either not having reached the soldier or not appeal to their very exacting or very erratic taste. (The reader can put it na ho likes.) Why some songs become popular and athers, vasily superior in merit, from an Dr. Helfforich is mi-guided enough to outsider's standpoint, fail to catch on venture upon a comparison between the is one of the things which no man cat necount for Perhaps, like the Spartan faroigu exchange position of England and children which were exposed at birth on Germany. The exchange between London and New York fell for a few days at the the mountains, the failure to live is the discount of between obest proof that they should never have Even that great pational end of August to, a
id 7 per cent. Since then, with the been born. help of the dean which was floated in anthem, the "Marseillaise," had slow America by England and France, and by acceptance as a people's song, although the use of ordinary economic methods, the after a time it swept through Frano into exchange has been restored and kept universal favour. steady at a figure roughly equivalent to the old export point, allowance being made for the high cost of insurance, freight, etc., at the present tine
"This has been efected at a time when we were spending vast sum in America on our own account and on account of our Allies, without seriously trenching upon the accumulated wealth of this country, represented by our holdings of American Recutities, which we are now beginning to mobilise for Government purposes with a view to the future.
Was
THE WORLD WAR.
WHY THE ALLIES WILL WIN,
but
“I am now sbsolutely certain we will: win this war, was the naively neutral declaration of Colonel George 3. Harvey, editor of the North American Review says the New York Herald's London correspondent-when I saw him at Cla ridge's Hotel this evening, as he was pre- paring to leave for America ou the Hoi- land Amerika liner Rotterdam after a visit during which he saw not only Cabinet Ministers, and heard their opinions on the outcome of the greas struggle personally inspected the reserves of the immense army of 4,000,000 men which is still in the making, and studied the won- derful development of the great Depart ment of Munitions, which controls more. a million men and women, and has trans- than 2,500 factories, employing more than formed, as if by nagie, in co-operation M. with the department presided over by Thomas in France, the balance of shell in favour of the Huns, to a ratio of five to one in favour of the Allies, on the power, which a year ago was three to one
Western front.
UNCLAIMED TELEGRAMS.
The following is a list of unclaimed telegrama Lying in the Eastern Extension, Australasia ani Chins Telegraph Company's office at Hong. kongs
FROM ADDRESS
Manila Dominicas Roda
Padang Gheool. Hiong
Batavia Hangkle
1
How Pat Heng ojo Wing Wo
Chong Holford clo Wing Roo
Juan Singleo
Singgh eczen Tan, Astor Hotel
Singapore
Chrizlet arch Singapore ... Singapore
Saigon
CHURCH SERVICES.
Br. ANDREW's Caunen, Kowloon, 6th February, Stu Sunday after Epiphany. Holy Communion at 8 am and after Morning Service. Horning Prayer 11 .m. Responses, Tailis, Festal; Venite, Barnby: Psalms, th To Morning, 30, Heyer, and 31, Matthews; Deuro, Lawas, Cooke ad Hopkins Jubilate, Onsaley Kyrie, Mannder: Hymirs, 5, 389, 381 and 433, Evening Prayer 6 p.m. Psalms 22, Crotoh, 35, Arms; Magnificat, Elvoy, Dimittis, Sainer; Hymns, 121, Why are you so confident that victory Stainers
259 690 and 21. Vesper Ilymu. The Australians wore slow in develop will be with the Allies? I asked.
Before I'
West Point, Sun- ST. PETER'S CHURCH, Colonel Harvey replied:
und Sermon. ing their songs. They are, if not a nation of musicians, at least a singing people; left the United States I agreed with a day, 6th February:-8 am, Holy Communion
Columbia professor, who said the pre- 11 am, Morning Prayer and their soldiers come from homes of
Preacher, Rov, WT. Featherst nr.
UNION CHURCH, Kennedy Road. Sunday, music. But they had no marching songponderant power in men and money was bound to tell in the end, but now I have
6th February. Sunday Services: Morning the call had not previously come to them.
& stronger argument, which fell from So at first the demand was net from
the lips of a recruiting sergeant in the Service at am. Hymas 569, 223 and 615 Psalm 2. Evening Servies at 6p.m. Hymns Don't you want to outside sources, and "Tipperary"
but this did
Strand yesterday. adapted to local names.
be on the winning side said. the sol-373, 17, 266 and 208. Preacher Rev. J. Kik not suffice. While the Australian has a
dier to a group of civilians to whom he Masonich a An Imperialism, he is said to be more
was suggesting that they should don English than the English; he has also that essential feature of a good Imperialian, khaki. How do you know ours will The recovery of sterling since Augusta strong localism. Patriotium is best de be the winning side" asked a prospec tive recruit Well, my lad said the you know the Germans have has been in an inverse proportion to the veloped among a nation of home-lovers.
So the new Australian forces had to find vergeant, now rapid collapse in the value of reichs mark. On October 1 deprecation of the their own songs. A school of soldier song been trying for more than a year and
Well, mark in the terras of dollars was about writers sprang up in the Commonwealth, half to win, and have failed, don't you!”
The songs were of all sorts; some good,Yes, replied the questioner. 12 per cent now it is 19 to 20
per cent.
many bad; but all bad to pass the test, then, we have been trying to lose during below par, while Germany's exchange in
not of merit, but of acceptability to the the same period and couldn't."
The course Amsterdam is more than 20 per cent. below
Knowing what I do of the improved. par. We keep a chart in the Treasury, men who had to sing them,
considor the ser- showing the statistical position of the adopted by the 22nd Australian Infantry situation in men, money, and munitions, various exchanges since the war began, and Battalion is of interest. A tune was said Colonel Harvey, we have continually to extend the chart selected and a prize offered for the best geant's logic znanswerable
A plebiscite of the in order to prevent the descending line two verses sem in.
a constry which represents reichmuark from disap-whole battalion-a casy task among pearing below the bottom edge of the citizen volunteer soldiers in
where the Referendum is a frequently chart.
This depreciation of the mark is applied institution was resorted to. Of occurring in spite of the fact that Ger- 98 verses put in the ballot the first prize many is cut off by the British Fleet from fell to a journalist privats in the ranks the outside world, and is unable to spend and the second to a sergeant schoolmaster, money in America and elsewhere on pur- who got one verse and the chorus in chasing supplies which she would give much to secure. Germany, with hardly
y payments to make outside Europe, has nevertheless to see her exchange falling away to vanishing point: She has realised all her available sets in the shape of negotiable foreign securities, and ever singe the outbreak of the war she has suspended specie payments.
DERMANY' 6. PAPER CREDIT. "What is the explanation of this fall in the value of the markt One only is pos- sible, the manufacture and abuse of paper credit. The mark has lost all relation to the gold standard. If this has happened in the present conditions, what will be the value of the mark when peace comes, and the German importer tries to exchange his depreciated paper for goods from over- weas? Will the mark then be worth ton cents?
I wonder how Dr. Helfferich regards Canada's internal loan of 100,000,000 dollars, of which the Canadian Govern- ment has offered to put one-half at our disposal for meeting the purchase of muni- tions. Is this another sign of the collapse of the tottering British Empire! Ger abroad (a ten million dollar loan in the United States of America in April, 1915, was not a very encouraging performance, "How comes it that all sorts of adver tisements have appeared prominently in the American newspapers offering Ger many's internal loans for subscription in the United States at yields which become. more and more superficially attractive as the mark exchange goes down, yet fail to attract because of the risk that the ox- chatge may never rise again, and of the intelligent doubt of Americans as to where Germany is to ind the cast to pay the interest?
ono public attempt to borrow
The selected words were :-
When the German blood-stained Eagle, and its
vulture-hearted Chief,
belief
Made war on little Belgium, they held the fond The British Lion had grown too lume and Jared
not interfers,
But when old England called the roll, Australia
auswered;" Here!"
Choru→→
So be ready 22nd, be steady c'er and true,,
cenge the plucky Belgians, this cycs are at
on you,
SHELLS TO BURN." “Don't make any mistake; with shells to burn and the finest body of soldiers in the world to do the burning, there is no chance of a German victory. The Allies may be forced to fight for two years-1 really think they will-perhaps longer, but they will surely triumph.
It has been intimated that what Bri- tain needs to ensure victory,' I ventured, -ig a strong dominating personality tó dictate the conduct of the war.
KONGKONG
METEOROA GIUAE
REGISTER.
Hongkong Observatory, February 4th.
Barometer... Tapontare... Humility po Force Wind Direction... Weather...
Bain SAINŲ
st #p.m Ŏ 5.25
Previous On DatejOn Date ut Day
2 p.
09.92
29.02
#9,86
62
60
61
73
87
82
East
East
6
East в.
0
0
Hi ¿hsai open air Tuinparatursen ärd. €2 Lewat open air Texagerature on 3rd ... $9
That's absurd, replied the colonel, there is no such personsge in the world What applies to the war Napoleons, today. There are no Cromwells and no also applies to science, and literature, and politics. There is no such outstand Therefore, mili- ing personality alive, tary, economic, and government affairs be administered by must continue to nearest approach to dominating persona groups of able men. The Kaiser is the man he isn't-but simple because he is practically an absolute monarch and head thelity in this war, not because he is a super- bage, of the house of Hohenzollern, and he has
only achieved Pyrrhic victories.
What do you think of Herr von Bethmann-Holweg's speech!' I asked.
But, mark FIL Bluff, was the reply, you, I have no sympathy with the absurd doctrine that Gormany can be starved into surrender. If that is the hope of any of the Allied Powers, it should be dis-Ben
Germany will be able missed at once.
dvd be with Australia and her mission, o'er
ዘርብ
Remember your
W.O.T.B.G.
Colonel's
molte,
When England called for volunteers to wipe the
Lerman out,
so true and stout...
We rallied read the dear old Flag with hearts A Battalion nuw is en ita way, and will be at
the fore,
It is the 22nd boys from dear Australia's shore,
And when we're in the trenches, boys, and things We're too brightly dermans how Australian
not
boys cau fight,
And when the foo is overcome and victory"
nigh, The good old 22nd boys will raise their battle-cry. (Chorus)
It should be explained that the cryptic letters W.O.T.B.G. are not for ears polite, though they may perhaps be guessed when it is said that the first two stand for "wipe out" and the last for Germans,
The individual companies also arranged a similar system of choice, although one adopted, with alight local variations, the The Old Folka es plantation song, Home Some other company song verses read.....
FICTION OF GERMAN WAE LOANS. Mr Montagu proceeded to point out that the issue of the three German war
Australian boys in khaki bave listed for the war; loans at 07, 98, and 99 respectively was Bimply stage management, an ne provision-Reen-and-smart and larky, we're marching to the
fore, had been made for meeting future interest
The Gerniaus groaned and trembled,' they said charges..
they hadn't reckoned
22ad.
The Kaiser, when he saw them, straight fell into
"There is no freedom about the market
loans a German. The bourses Australia could produse such men as the glorious are entirely under Government control. The quotations are nominal, and oxist for rhetorical purposes only. Besides, if you Mood the country with manufactured paper credit it is easy to create a surplus of depreciated marks nominally available for. investment.
The operation of this latter factor is well illustrated in the quotations of Ger many's pre-war debt. Dr. Helfferich boasts that this las fallen only seven point since the war. This may be true in Berlin, but it is a sufficient commentary on this to mention that in New York the price of this German loan had fallen 28 points.
BRITISH FINANCIAL STRENGTH.
A statistical abstract for the United Kingdom has just been issued, and the figures, which cover the last fifteen years, are of a striking character, especially for an Empire which, according to the Ger man Finance Minister, istoltering
2t fall
22
a it,
And wired unto the Austrians, wo'd better do a.
set;
He tore the Scrap of Paper and played the brutal But when the 22nd some, they'll get him on
Hun,
tto rus.
Tally round the banner of sour country, Take the Geld with brothers o'er the form..... ou land or sea, wherever you be kept your eye
un Germany But Company A bas little cause to fear, Should old acquaintance be forgot? No, no, no,
20, 10,
Australia will be there! Australia will be there
Here we are, here wo are, here we are again!
Company is going to be at the top of the
show
trouble browing; when there's to When there's
something doing.
In fifteen years the Imperial revenus of. Are we downbearted? No Let them all.comE. the United Kingdom has increased from Here we are, here we are, here we are again!
1900-1 We're fit and well, and feling as right as min. £140,124,310 to £226,804,080. In
When the Kangaroo starts hopping the Gennaus
will be dropping: toluto, hullo. here we are again, Ooh, Boshter,
Again 1
the total expenditure chargeable against revenue was £183,331,890, while in 1914-15
services came the total supply £168,033,724, apart from votes of credit for naval and military expenditure, which
The battalion and four company gonga for that year added £357,000,000. In 1899- 1000 the amount of income in the United make enough for battalion use; and at Kingdom on which tax was paid totaled Braadmes dows, the recruits' camp, outside that increased to Melbourne, on the sea trip across and at £504,863,740, and £791,714,605 by 1913-14--not a bad agg the Heliopolig training ground in Egypt the songs proved their success and popu- "tottering country, gate for u
Banks of larity by being universally sung In 1900 the Post Office Saving the United Kingdom received deposits the battalion made its excursion to the totalling £40,516,434, and at the end of Pyramids the old stones echoed its words, that year £135,549,845 was due to deposi- and creu the Sphinx, which has for thou tors. In 1914 the deposits received came to sands of years listened unansweringly to £47,915,000, and at December 31 last there so many aren and many tongues, beard a
new thing was £190,533,208 due to depositors:
Wesk
HONGKONG TIDE TÄHLI.
From 5th to 11th February, 1918.
HIGH WATER
Low WATER.
H'Long.
Time
hm
4 49.
Height
0.6
Mean Time
b. m.
thin.
ja 12 10
4. 6
10 407 5
Batur.
6 m 11 39 4.8m 5 20
11:28 6 9
095 0m 551
4.42
5
B
5 33 2 5
to live on her own resources for ten years. Mon, She, must be whipped thoroughly, and whipped from the outside, and it is be-
cause I know that the Eatente Powers ars inflexibly determined to give her the thrashing she has earned by her inhuman methods of warfare that I am certain the Allies will wizi,
How-
Whatever may be the attitude of the British towards Fresident Wilson, there is not one particle of resentment against is the most vitay of facts. Can you con the American people. That, to my mind, ceive of any outcome of this war more deplorable than an estrangement of the two great segments of our race?
The instinct of British democracy is ever, I know now this cannot eventuate. as true and sure as it was during our Civil War, when the people and their Queen withstood the aristocracy. British-people know where we stand to day. Their confidence cannot be shakon,
ANGLO-AMERICAN
The
PEACE
TREATY. PERSONNEL OF THE INTER NATIONAL COMMISSION,
The Washington correspondent of the
90th: Associated Press telegraphed on December
The personnel of the International Com- mission which is to represent Great Britain and the United States under the Pence Treaty negotiated by Mr, Bryan havo heen. chosen. The names will soon be announced formally,
Mr. George Gray, the American jurist, us to be the national member for the United States, and Senhor Domicio da Gama, the Brazilian Ambassador to the United States,- the non-national member. Lord Bryce will be the national member for Great Britain, and M, Max Coreski, member of the Rus sian Council of Empire, the non-national member, Dr. Fridtjof Nansen the Arctic explorer, will be the umpire.
conformity with the provisions of the involved in controversy they are to be Treaty, if British Colonial-possessions are represented by Sir Charles Fitzpatrick who has been chosen for Canada, Sir George Reid for Australia, and Mr. W, P Schreiner for the Union of South Africa,
The Evening Standard vonches for the integrity of Belgian residents in Holland who, after careful enquiries in business circles, report that the Germans in Hollandi realise that they have lost the war and that they are preparing for the subsequent economic struggle, They realise that Ast werp henceforthe useless to their shipping: and hope that Rofterdam will fall an easy prey to their commercial activity. They are already sounding Dutch shipping in- terests with a view to their co-operation.
Wed Thars,
3 52 2 5 1 0
8 m 0 17 a 1 m 6.21
Q
9-1.10
18 a
10 m
11 m
#9
6
44
3 7 a
་སྦུ བྷྰ་ཐྰ་བ་ཟཐ་ང་
3 0
52. 6 27 2 5 3 m 6.1
32 29 203 0 20 = 3 0. 48 3 3 223 8
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MONEY WASTED ON FOOD.
Every penny.counts in the kitchen nowa days. Food prices have mounted rapidly. They are likely to keep high. You can't afford to waste; that is very certain.
To go hungry because fooil is not obtain. able is bad enough! But to starve in the midat of plenty with good money in your pocket and no hindrance to buying-is infinitely worse. Yet, this is what a host of people are doing to-day. Starving, mind you, not for the lack of food, but because their digestive organs have lost tone 24 cannot properly digest the food they eat. Remember, it is not what you eat, but what you digest, that nourishes your body and Bustsins your life.
Unicgs food is converted by the digestive processes into a condition in which it an be absorbed into the system, muscles, bone, serves and brain are slowly but surely starved, In other words, they fail to get all the nourishment they need to keep them string and healthy.
Food in each a case is indeed sometimes positively harmful. It hinders instead of helps, weakens instead of strengthens, How! Because it ferments in the stomach or intestines. Impurities are given off which find their way into the blood and affect disastrously the whole body.
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TORINA OVERLAND TRADE REPORT "THE HONGKONG WEEKLY PRASH – is now ready and contains:- Far Eastern News. Hongkong.
Far Eastern Men and the War, Leading Articles:-
Japan and Russia, Companies of Enemy Character. Sir Richard Dane
Mining in China.
China's Inland Waterways. China's Pasition in the World. Random Relections. The Law Courts.. Confession of Criminals. Alleged Trading with the Enemy, Shipping Notes.
"Yunnan Perfect'y. Quiet." Companies
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Benevolent Society. Hongkong The King's Recent Accident. Belilios Public School, St. Joseph's College.
Ellis Kadoorie School. Queen's College Prize-day. value of a Knowledge of Chiness, Salyingpas School Breaking-up Day. Fossils of the Chinese Dragon.
If you would get fall value from the food you eat, you must see to it that your diges tive organs are always equal to the work you give them to do. Now and then, fra one cause or another, they may lose ton At auch times you will find it better to save a shilling or two on food and spend it Mother Beigel's Byrup than to pile up misery for yourself, by continuing to eat more than your weakened organs c Peking Notes.
This renowned remedy clears the system of the injurious products of indigestion, ach, liver and bowels enables you to digest, and by toning up and stimulating the stom and draw nourishment from what you cat You will then no longer have to deplore money wasted-on food...
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Ltd., Meeting of Shareholders at the Hong-properly digoet. kong Hotel Monday, 14th Feb.
J
11 am-Union Waterboat Co., Ltd., Meet- ing of Shareholders in the Offices of Messrs. Dodwell & Co., Ltd. Noon--The Hongkong and Whampoa Dock Co. Tad, Extra rdinary General Meeting. Tuesday, 15th Feb,
Noon-Hongkong, Canton & Macao Steam- boat Co., Ltd., Meeting of Shareholders. Saturday, 10th Feb,
Noon-Hongkong and Shanghai Banking
Corporati
Meeting of Bhareholders at the City
Fab.: Monday, 21st
Hongkong Hacelet Day. Taesday, 22nd Feb.
Hongkong Rece-2nd Day, Wednesday, 23rd Feb.
Hongkong Race 3rd Day. Saturday, 20th Feb,
Hongkong Race-Off Day.
RIGAUD'S
KANANGA
OF JAPAN
TOILET WATER.
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of imitations
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48-6
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Passenger Liste..... from Mr. M. Peterson, Oxford Street,
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I tried all possible means to combat my complaints, but nothing helped or gave me any relief. Two years ago I was recoin- mended to use Mother Seigel's-Syrup, ani that seemed to be the remedy I had been in search of. A few doses gave me relief, ant I soon recovered my health and strength, I attribute my recovery entirely to Mother Baigel's Syrup, and as I have not suffered since from any of the above symptoms it proves the cure a permanent one,
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