1917-10-31 — Page 2

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VICTROLA

THE HONGKONG DAILY PRESS WEDNESDAY, OCTOBER 81ST, 1917.

THE IDEAL INSTRUMENT FOR ENTERTAINING.

Discount allowed for cash with order.

20%

LIBERTY MOTOR FOR AEROPLANES.

A BIG SUCCESS.

One of the greatest problems that con frouted, the American Government ex- peris in connection with the war was that of motors for aeroplanes. When the Caited States e entered the fray in April, the War Department was confident that it could obtain all the planes it might need, but where and how it could obtain engines equal to the remarkable motors turned out in Europe was another pro lem. In all America not a single factory produced a motor anything like as light ma as powerful as the engines mounted on the European battleplanes.

The War Department decided that the easiest solution of the problem was select the best of the European motors and to arrange for its manufacture in the Cuited-

The selection was

THE ROMANCE OF SILVER. MANY REASONS WHY PRICZ HAS ADVANCED,

NOT ALL BUSINESS.

BY RICHARD BARRY.]

Silver, the poor man's money, is higher than at any time in the previous 33 years, and is mucunting rapidly. It has doubled in value in the last 18 months and has gone up 30 per cent, since the United States entered the war, All the Governments are seeking it and most of them have either made efforts to regulate its price or are considering such efforts. With gold as the ballast of the ship of state, silver is assuming more and more aprios place in the cargo.

has had a most marked effect on the price of silver, and the prospects in that diree. tion are none too encouraging.

AMERICA'S HELP TO RUSSIA The Washington Correspondent of the Morning Post wrote on August 24th --

The Washington Government knows, and has known for some days, of the stato of affairs in Russia, and, while extremely

12. The shutting down of the Copper Queen and of the Anaconda mines. While these are copper mines, it must by understood that silver has come to be, in modera mining, very largely a by-pes-anxious to be of assistance to the Pro duct, Silver comes from copper mines visional Government, and especially to in great quantities; it also comes from strengthen M. Kerensky's hands, it is lead mines and from gold usines, Thore practically powerless. What Russia needs fore the shutting down of any of thesis men, nonex, and transportation, not

mines is serious stab, jitst now, at t silver market.

13. The LWAW. (industrial Workers of the word) sgtails in the West.

100 only ~ kuoj rises, growing one of them abour du mining or ever, put ano in its reaning Qui five 014

aug transTULION.

14. The rise in the value of all-sup. otherapies, especially . cumicus, we tot

so much men to fight, because she has plenty of soldiers if they will only do their duty; but men to direct and take over the management of industrial affairs, necessary, and, perhaps more than any- money to pay for things that are vitally thing else, personel and material neces- sary for railroad transportation.

In regard to money, the United States Some of the causes of this condition inade and a were under way

ever funds she may need, provided there it on a large scale and with are obviously due to the war, but

stands ready to furnish Russia with what is at least reasonable certainty that the to reproduce

money will be properly used and that it large royalties on the American side of and there are many, at least sixteen cesencial a part in realing o and no increasing cost of and delay Ju the Atlantic when E. A. Deeds, one of being enumerated below) have co-operated silver, to dicunty of getting crude oil,

attitude in this respect is very fine. the greatest among American motor car with those superinduced by the war. inen, raised his voice in protest. He Some appear triking, like tno desire of transportation; Lutke, Bave had an appreis not being wasted. The President's into the There is no thought in his mind of bar- pointed out that the French motor to be the Last Indian to be buried in his silver cavi elnet generally

Laina is the only large gain or of asking for guarantees which manufactured in the United States ornament, or of momentary significance, entrance of China weighed 3.2 1. per horse-power, or 830 Fike the 1.W.W walkouts in Arizona world war. Ib. per. motor of 273

horse-power, that the and Montana, or of far-distant idiosyn dependent nation in the world with a would be humiliating to Russia's self- Gerinans had a motor

considerably light crasy, like the fresh rogue of the rupo silver standard. Its Government is now respect or which would suggest suspicion. surance that American money" sent to Whatever your tastes in entertainment, the Victrola brugs your, and that American engineers were in Egypt and Mesopotamia or of strik under necessity to make provision for the He wants to be generous in the extrema, fully capable of designing motor weighing import, like the demand of the troops costs of war by loans or taxes, or bota bat at the same time he wants some ua- Russia will not really benefit Cermady. ing not more than 2 lb. per horse power on the west front to be paid in silver: Whatever it does, its drain on silver wa

Russia has already been given an exactly what you want.

which could be turned out in large quan but all combine to make a complex and be enormous, and the effect of that loom-

Deads

American credit of £35,000,000, which the tites with existing equipment.

6. The recent favourable monsoon in The French model and commanding tide in the money markets ng prospect nas, aiready been felt.

Russian Government has been advised is merely a beginning but the Russian were dropped. E. J. To elucidate this situation the expert brokers, Hanly & Harman, was sought, with agents in all parts of the world

Government either will not or cannot the extent to which it must rely on and in close touch with all markets, they

state in exact terras its requirements or American financial assistance. It is were able to shed a general light on the

hoped that these figures will be forthcom dynasty as well as on the realm of the new king-Silver.

ing and that the Treasury will. be placed in a position to know the approximate amount that will have to be advanced.

EXCLUSIVE AGENTS.

MOUTRIE'S

SHAPE 25

[26-3

EVENING DRESS ESSENTIALS

COLLARS TIES SHIRTS

VESTS.

SOCKS

MUFFLERS

GLOVES.

EVERYTHING OF THE NEWEST AND IN THE BEST TASTE.

MACKINTOSH

& CO., LTD...

Men's Wear Specialists,

16, DES VŒUX ROAD.

LATEST PARISIAN

Telephone 29.

(18)

FASHIONS.

MADAME FLINT has just returned from Paris with a Grand Selection of Evening and Day Gowns, Opera Cloaks, Millinery, Furs, White and Coloured Kid Gloves, etc., also Serge Afternoon Gowns and Costumes in the latest Models · at · the most reasonable Prices, which will be on Shawn on

MONDAY,

5TH NOVEMBER.

MADAME FLINT begs respectfully to announce that she has secured the exclusive right from several Parisien. Houses, including the MAISON BLUM, to supply her only with their latest creations from the 1st July, 1917, and that she has also engaged the services of Mulle. ROQUE, Première Coupente, lato of: the MAISON BLUM, who will undertake the management of the Dressmaking Department.

MADAME FLINTspectfully thanks her Clientèle for past favours, and solicits their continued patronage, and also invites the Ladies of Hongkong to inspect the New Goods in her Showrooms, as the Best Models are not displayed in the Windows.

Cable Address: "KAWAIKITA"

K. KAWAI. AT. Code, A. B. C. 5th Metal Import and Export

Edition, Frivate Codes

Item Japanese Made Galvanised

Merchant,

Flat Item Japanese

10.

・abové. Item Japanese

1 Sheets, 36, 30 Guage, MOON- STAR Brand, at Y400 per sheet F O. E. Kobe.

Item American Galvanised Flat Shesta

2.

[1217

Andojimschi, 4-chome,

No. 29, OSAKA, JAPAN.

gained bis and Jesse Vin knowledge of the bullion and specie the Orient. Thy monsoon (the winds,

aine, and temperature) has been un. usually good for 1917. This makes good crops, with consequent greater call for 33 YEARS AGO. silver.

the French Hall of San vent, Vice President of Engineering of Packard Motor Car Company, were and design motor that would come up to requirements, both as to the lightest

It is necessary to go back to 1884 possible

and highest possible

to find silver ne high as it is to-day. On power.

SUMMARY OF CAUSSO

Beptember tu the price in London was In a statement given out from Washing- ton Mr. Baker, Secretary of War, said:

The causes of silver's present high 50. In 1885. It was 48, and in 1881 it was 30. (These figures are in terms of 1 regard the invention and rapid development of this engine as one of the price, Hundy & Harman say, are:

1. The gathering in of all available Englian pence a standard ounce.) In really big accomplishments of the United States since its entry into the war. The gold everywhere, on the side of the Cen- New Yore on Lae same date the price story of the production of this engine trat Allies as well as on the side of the was 9, which is the price in United States cents a fine ounce; that is the is a remarkable one. Probably the war:Batente, in all the Americas as well, as has produced no greater single achieve in all the Asius This naturally and price in American money of silver laid Minevitably forces the attention of Govern-down in London, The English price is quoted for silver 925 ans, or the so-called standard sterling silver, while the Ameri- can price is for .990 finc

ment....

a complete set of specifications ready in five days,

ulting engineers from various sections of the country were brought to Washing

The work in the ton to assist them. drafting room proceeded continuously day and night, Each of the two engineers in immediate charge of the motor development, alternately worked a

** Two of the best engineers in the counments and of individuals to the chief try, who bad never before seen each other, other niodium of exchange, silver, were figuratively locked in a room in a 2: The hoarding of silver by millions

At that ratio, and deducting from the Washington hotel and charged with the development of an acroplane moter for everywhere. All the Governments have

London, 50 se by American aviators over the battle appealed to their people to get the gold computation the cost of transport to

hundred ot

into the banks and leave it there, but London the prices read: Belds of Europe. Selecting there had silver reminine, even aside from this New York, pog. Actually, it should be: the best draftsmen

Governmental restriction, the principal London, 50; New York, 81.07. The cost and plans

Conmetal money subject to hoarding. No of transport on an ounce of silver at the matter how secure the Government, present time is $.0839, while normally it people of limited means, particularly is about 8.005. In other words, the cost small traders, farmery, peasants, and of transport now, due to submarine perils those whose livelihood depends on an chitty, is 17 times the normal It is this easily available small capital, always fact which has shifted the transport of have hoarded metal money whenever silver from the United States o the Far great increases in paper currency arouse East from its hitherto normal trade, via the fear of marked depreciation. And in London and the Suez Canal, to the pre- many of the countries, especially among sent trade route, via San Francisco. The the Central Allies, fear is growing of the price of silver in San Francisco was 1.05, the difference of cents between stability of the Government.

that and the price in New York (laid down there) being represented by the estimated cost of transport from San Francisco to the Orient, either Peking or Calcuttara

24 bour

TRADE SECRETS GIVEN UP.

“An inspiring feature of this work was the aid rendered by consulting engineers and motor gave up their trade

Bergency of warucis ares, who

under the

two engineers locked together in the hotel room pronised the Government that if given an opportunity they would engine before a design a satin could be brought from working Invdet Europearkable

engine was actually produced three weeks before any model could have been brought from Europe. It was promised that this engine would be developed before July 4th. Twenty-eight days after the drew ings were started the new engine was set up. This was on July third.

the

3. The creation by the British Govern- ment of its series of war notes út £1 and at 10sSuch paper currency denomina tions are too high for the bulk of the population. The vast majority need small money for daily affairs, and this act of the British Government has helped

force them to silver

4 The prospect of the continuance in definitely of these conditions. Not only the uncertainty of the duration of the war enters into this, but also the addi- tional fact that even after the war gold can hardly he expected to come back to normal speedily. Gold is a dreadnought; it cannot turn in its own length.

ALCOINAGE NIEDŲ.

In order to have the engine in Wash

5. The great requirements of India. ington and in actual running order at

nation's capital on Independence Day This is the fascinating chapter of the the perfected engine was sent from silver story and one of prime import

a special express carno, too. It will be elaborated later western city in The journey was made in 21 hours, and four young men guarded the engine en route to Washington "and personally at tended to its transfer from one railroad to another.

were turned Parts of the first engine were out at twelve different factories located the way from Connecticut to Cali

all

fornia,

The

and

aim

CHAOTIO RAILWAYS. Perhaps what Russia needs immediately more than anything else is material to rehabilitate her railways and men corn- petent to get full service out of them. Mr. Root and the American Technical Railway Commission despatched to Russia have brought back most gloomy reports regarding the railway administration, Yet without efficient transportation- Russia can neither keep her armies sup- Russia needs caormons quantities of plied nor feed her civilian population locomotives, wagone, and all other kinds of railway supplies, and, in addition, ex- perienced men to rehabilitate her railways which are in a very bad condition, and to take charge of their operation. Both material and men the United States can supply, but it will take time, because this requirements are so great and Ameriena factories are overcrowded with orders.

Yet the Administration believes that the confusion now existing will be cleared away and that Russia will do ber part; and this feeling of confidence in strengthened by the reports which Mr. Root has made to 'the President and by Mr. Francis, the despatches from American Ambassador. Both agree that

are against making a separate peace or the heart and sort of the Russian people Twice in the past generation silver has ending the war until its aims have been come near its present high price. In achieved, and, while they admit that 1885 silver was 488. It rose to that political complications may for the time height, or rather it was held at that being prevent Russia from exerting her height, for it had been higher the pre- full strength, their faith in her eventual vious year, largely because of the suspen-power and determination is not shaken.

A Renter's Washington message, states sion of coinage of the Bland dollar s recommended by the President of the that the American Government has grant- United States. The year before, in 1884,ed & further loan of £20,000,000 to Russia. it was at 509; that was the year of the war in Egypt, the increase in income tax

TRANSINDIA THE SPONGE

the.

(A crore is 100 lakhs, and a lakh is 100,000 rupees, and rupee is worth,

Crores. normally, a shilling and four pence Reserve of rupees in February, 1918,

in England, and of considerable disturb. ances in French China. It seems that the very extent of their ability. Asia India has run astoundingly low, And whenever the Orient is upset, silver result the stock of silver rupees in In 1800 it was 47 11-16 That was the silver bullion, were it not for the pro rises The reduction in France of the Year of the failure of the United States hibitory fat of the Government, would

legislation to maintain silver prices. It be unbelievably high..

INTOJA JAR, FINANCIAL BITOWING, silver coinage reserve in the Treasury rose then to an artificial price almost

An id An idea of the situation may be hul from a sum equal to 20,000,000 to one corresponding to Mr. Bryan's "Heaven. equal to £10,000,000. This reduction et ratio of 10 to 1. It seemed then, by glanding at the report of the last occurrat in the first two years of the war as it has now, to justify his maxim that budget of the Indian Finance Minister. and the French Government is now seek the price of silver and the price of wheat He stated then (in March) that the ing to repair the shoringen ure directly related and always move up Indian Government had purchased suf

7. The payment of troops in silver.

and down together. Yet the present has ficient silver to provide 36 crores of When the parts were assembled the

no relevancy to the sacred" ratio or to rupees from February, 1918, to March, adjustment was perfect and the perform On the western front in France, where ance of the engine was wonderfully gratiare the bulk of the armies, paper cur- any of the causes so plentifully discussed 1917. Since this latter date perhaps an fying. This in itself demonstrates the rency, due to conflicting exchange, as before the country in the great bimetal additional four crores was purchased up to the middle of July. This swept prae- capabilities of American factories when well as the latent dislike of private lism debate in 1896. The present cause!

tically all the surplus in India, in China, put to the test and when thoroughly or soldiers for anything but specie, is not have been outlined above.

in the Philippines, and wherever the ganised for petrich TESTE

for emergency work of this sort. found available. The troops demand medal, and that means ailver, While the

Among these causes, na has been said, hand of the Indian Government could Col Roosevelt has already made a 5,000 American soldiers remain on their own India affords the most fascinating reach into the Treasury, and yet the available silver in the Indian Treasury for study, and perhaps It. ascension in a plane propelled by the soil they will probably be paid largely field new motor. In tests made in Colorado

figures will show: a plane equipped with the Liberty motor currency, which commands respect must profound field. In the trade India was reduced 461 crores, as the following Galvanised Corrugated has established a new altitude record for there, but those who cross to France will is known as the sponge of silver."

In the last twenty months more than a The American increasing needs twenty million pounds of silver have been Sheets, 8/3, 30 Guage, Same price as America MDM be paid largely in silver.

American Government Galvanised Corrugated is to have several thousand completed (Goverrimental) for coinage. Even as taken by the British Government for

the new motor the present moment there is a demand India Bo huge an amount with 11 Sheets, 95, 28 Gunge, 6, 7, 8, Saine aur planes by American Aviators, ready from the United States Government for almost like injecting digilant has bee

for action on the western front when the large quantities of silver bullion for war-pressed Indian currency, and the Coined during the finance year to Item English Galvanised Corrugated Sheets 1918 campaign opens next spring The subsidiary coinage, and this is being future there bristles with possibilities, 18/3, 28 Guage, 6, 7, 8, Same price na American aeroplane, it is neserted will desired specially for the prospective To curb the tendency to silver string Estimated further coinage to July

above

be able to ontspeed and out maneuvre the needs of troops.dency in the Indian Empire the Govern

1. The very high price of commodities ment in August passed an Act probibit. best of European machines: it will be a big factor in bringing victory to cur in the Asian world and in the Near Easting, the export and the import of silver

has been a great drain on silver. The except for Government uses. Eastern merchant (both Far and Near). This does not please the East Indian. demands his payment in silver. The Silver is to him a very ligh god. Not very high price of commodities, wheat, only is it his chief legal tender, but he juto, hides, etc., brings the white metal prizes it so highly, both for its religious

In other words, India, the sponge, inevitably to the pockets of the class who use and for its use in arts and crafts, Sir Arthur Conan Doyle's suggestion prize it most highly-the Eastert trad that when an East Indian of certain has mopped up and concealed in her capacious innards 45,000,000 rupees caste dies he is buried in his in silver since February, 1916 that English wives left by their Gorman era.

silver ornaments. They are an immortal The world cannot supply India the husbands who have gone to ight against MINES (LOSED 10. 8/3, 24 Guage, Same price as above. England should have, if they desire it, the 10 All the financing of the English part of bis personality, and not to be coming year, as she did the last, with Item American Galvanised Corrugated right to all this desertion and thus armies, as well as of English trade, in the disturbod, even in death.

obtain

divorce and regain their British Persian Gulf, Mesopotacain, East Africa. The rupee is the standard silver coin silver. What will India do That is 17. Sheets 8/3 35 Guage, at 147.00 per nittionality, is attracting widespread Egypt, and Palestine, is on a silver of the Eastern world But the Indians, one of England's "little" problems, kui picul K. U, B. Kobe,

And what will Germany do after the Item American Tinplates, 170 lbs; 20" attention. A case communicated to The basis. Since the war the Indian rupee while our compeers in the realms of in Daily Mail is that of an Englishwoman has spread into those countries and has ** 224 sheets in case at Y105.00 per can who was married some years ago toe become legal tender, and it is there gination, are far less than our equals 10 war? That is a very big problem. It imagination as applied to finance. They is said silver has practically disappeared in Germany, The Government is board- He left her before the war, she has not instead of restricting its area, has a silver rupee behind a paper rupee handing the gold, the people are hoarding the Gunge, Item, American Tinplates 160 lbs. 2027 German with a business in this counter evidently never to come out. The rupee, find it most difficult to imagine

heard from him sincs or received pans tendoner to expand its empirescoed to them by any Government. They silver. There nothing in circulation 11. Unsettled conditions in Mexico. want the silver itself, and they will make but highly inflated currency Open There from him. She has to support the three children of the marriage.

150 For nearly five years there has been any sacrifice, often quite unreasonable between

decided reduction in the silver that has ones, to get the silver itself, fence is declared, there is sure to be any

mmmense demand for silver to help husband and wife Yet

one out of Mexico, and this is one of Now, when India has so many things place the depreciated currency. That burlesque of a

the world chief supply centres ve wanted in Europe her traders are in may be one of the elements that will hein partial paralysis of the Mexican silver position to demand that they be paid keep silver up. But this goes into speen wines synchronizing so it does with the in silver, and they do demand this, folation, where we are confined here stracile world war, though caused by lesions in dependent of that European ostaclysm, (Continued et foot of next column.)

36,30 Grange, APOLLO Brand, price as above. at V400 per sheet F. O. B. Kobe. Item Japanese Galvanised Flat Sheets ax 6.28 Guage, at Y52.00 per pical F. O. B. Kobe,

Item American Galvanised Flat Sheets

4.3 26', about 3 owt and 40 sheets per case, 28 Guage, at Y5000 per pical F..O. B. Kobe.

Item Japanese Galvanised Flat Sheets, 28 Guage, Weight about 184 tbs, at YD0.00 per pical F. O. B. Kobe,"

Item American Galvanised Flat Sheete, 28 Guage, Weight about 16 lbs., at Y40.00 per picul F. O., Kobe.

[&:

7.

Iten English Galvanised Flat Sheets, 24 Guago, Weight about 181 lbs, at Y48,00 por pical F. O. B. Kobe.

Itam Japanese Galvanised Corrugated

of about 5 Length 6

8. Sheets 8/3", packed in skeleton case

Number

30

per caso,

Item American. Galvanised Carrugsted

12.

Sheets, 8/3, 28 Guage, 6, 7, 8, Samo price as above.

Item Japanese Galvanised Corrugated 14. Shenta, 8/3", 20 Gange, 6, 7, 8, Kame

price as above, t

Itam American Galvanised Corrugated 16. Sheets, 8/3" 28 Guage, 6, 7, 8, st

Y49.00 per pical F. Q. B. Kobe.

Item English Calvanised Corrugated Sheets,

19324 sheets in ease at Ylo per oss Item American Tinplates, 100 The, 2014 6 at Y8.00, 50, 8, at 14.00 0.10 places in case, at 153 00 por case

F.O.B. Kobe.

of sheets: 67, 57, 52,

per shoot F. O. B. Kobe.

REMARKS

above

Cause

BRITISH WIVES AND GERMAN,

HUSBANDS."

sort of community of feeling own

marriage

counts

bars German and has to declare German nationality under the Registra are without engagement. Shipments made promptly. tion of Burthem Names Aut A release from this grievous situation, she declare would be a mare act of justion.

£1218

with the Indian Government

end of March, 1917

18th, 1917

Latest figures as to reserve

Tupets

Absorbed

A GERMANY HOARDING. NON

to facts New York Times Magazine,

17

101

30%