1918-02-27 — Page 7

OUR LONDON LETTER.

PROM OUR OWN CORRESPONDENT]

LONDON, December 31st. The Germans are keeping up a barrage

THE HONGKONG. DAILY PRESS, WEDNESDAY, FEBRUARY 27′′, 1918,

FOREIGN TRADE OF GERMANY

THE SILVER DISASTER FUTURE OF HER MERCANTILE LORD READING'S INTERVENTION

MARINE

“Germany is preparing to rebuild her peace talk while Hindenburg pre-ruined shipping at all costs" (says & move. It is being done writer in Financial America). Through pares for his next with consummate skill and cunning more taxation is to be provided money Under cover of smooth phrases in which for this purpose, estimated in amount at the blessed word Democracy is prominent quarter of a billion of dollars for sub- they are fooling the Bolsheviks with the sidies. The Government, baving assumed

IN THE WHITE METAL MARKET

£160,000,000 A YEAR FROM LAND SALES.

AEIXED EXCHANGE? WITH ABIA.

[The ames or tilver, addrested to the an article in the December Ritansi il

authority on to Lerion of Revizie Mr. Moreton Frowen Fastor of the New York Sun. The further expounds the Empire Farm" fact of its publication in the United reader. Thus,

"your Governments Development Committee; with the formation of which Committee the author States Lould be borne in mind by the proposal submitted to the Empire He refers, of course, to the Government of was closely associated.

This proposal, it will be remembered, the United States]: SIE,-In September last certain emis ment of two hundred million acres of saries left this country for New York on fertils prairie land in Western Canada,

object of getting a separate peace with the risk of war by enrolling itd merchant [TO THE EDITOR OF THE NEW YORK BUNs that by the acquisition and improve

now determined to repay the owners of Russia. Elsewhere both in Europe and ships and crews in its naval reserve, is

of Pacifists and the occasional abbera-wheri labour and materials are high." has bech advanced to an out the whole cost of the War

a

America peace proposals are kept well the ships taken by the enemy. Not some mysterious errand connected with and their sale to hardy acclimatised to the fore by innumerable tricks and only is the cost of the lost ships to be India Office finance. The head of the misfarmers from the Western States of repaid, but a large part of any addi- sion was Sir Rufus Isaacs, now known

instalments, the British Empire might desury its own and the United States' devices. In spite of the noisy activities tional expense of building at a time as Lord Reading who since his return America, at ESO an aers in twenty annual

attain that Bebrow only

food supply, and at the same time. "wipe Benjamin excepting America and to Britain that the hitherto

which tions of individunts like Lord Lane Autocracy in this step gives notice to

deal with your Government,

the War," says Mr. Brewen, dewater solid for the continuance of struggle after the war German ships at once paralysed the silver market and our nocumulated indebtedness to the downe, the people of this country are world's trade is not to be ours without Exactly what was the nature of abel until a just and lasting peace are to carry German goods to foreign is rewarded with an earldom. I do not United States will be very great indeed. has been attained; and that can only be markets. The writer continues:

attention to the results.

At the close of mensurably, as also our property in Germans trusts, no doubt, that ben / know; but I would like to draw public Our gold reserve will have shrunk im- So long as these facts are steadfastly old commercial tricks of imitation and September the price of silver had reached done by e military defeat of Germany. berne in mind all the manifold happen intrigue and dumping, will avall her in 110c, an ounce, and most, in view of the American securities. It is not unlikely ings in the course at this war of world the contest: She expects that cheap goods immensa requirements of the Government there may have even for some yours

open sesame for wide extent. However startling each may will be the

much higher The price of 1100, is a Now every land sale by the Land Com appears at the moment, can be reduced doors in markets where her name irred of India for the year at hand, have gone exchange with New York at four to their right proportions and seen in feited. Her dyes that once entered all relation to gold as 171 is to 1. To-day missioner of the Empire Farm to an landa will again be offered in an effort the price of silver has fallen to 85c.--American buyer let us say the sale of true perspective.

to dispince the young industry built up

fler che trophe in the exchanges with half the to a migrant from Iowa, Winconsin, in America since the war.

Minnesota, or Nebrasko, would streng micals and drugs will come with them. humau, raco earns an earldomi The potash that many countries, includ ing America, need badly will be offered with the olive-branch of peace. In re turn the will seck cargoes of the raw materials she lacks of our grain, of petroleum, of fats, of nitrates for her nickel and rubber, and cotton and wool

LABOUR AND THE WAR.

a

GRAND HOTEL,

GRAND ANNEX, GRAND STRAND.

SEASON

1918

TSINGTAU

Commencing

MAY 15th.

T. NAGAO, General Manager.

11852

ratio this of 22 to 1% This vast cases an improved 200., aere farm for 220.000 CUTLER PALMER & CO.'S NOTICES TO CONSIGNEES

I now beg permission to pus on record then our exchange on New York, pro- the veritable renaissance of Chinc finance cisely as would £4,000 export of last September, because of the antecedent Bradford woollens to New York. Were rise in the price of silver. I hope in the it possible by these land sales to realise days to come that your great Republic £160,000,000 sterling a year for twenty- may establish with the

theStreet an of relief

world's

And if, added, to this, we could by

to the The foregoing observation as solidity of British opinion on the war is not materially affected by what hap- pened on Saturday at the joint Labour and Trade Union Conference at West minster. The Conference by big majority voted for the adoption of the

adam for the everlasting benefits and the Strend af untold, measures or velenast which, in effect, proposes to acquiesce in

wor parchment peace. The central fact to She will need them all to rebuild her suzerainty that we have established any means and by tho co-operation of

a

dtayn ap withouta consulting the rank and file the Unions, and the vote of a majurity of the delegates is therefore In no sense conclusive evidence of the opinion of sunnised babour. It is the story over again of the Leeds Conference held earlier in the year which was engineereil, in much the same way. The ngjority then voted to send delegates to the Bu-called Peace Conference hi Stock That decision was repudiated by British workers, it lafl to the extinction of Mr. Henderson as the shining light of Labbur in the War, Cabinets and it determined the Seanien's Union to refuse to carry the delegates oversea, SOCIALISTS AND

holin

PACIFISTS.

ཙྪཱ

AMERICA'S LESBON

same sort of

in a China, after the war, can be a most valu

exchange with Asin, Mexico and Bouth tot in foreign ships to supply her with able economic complement to the United and Japan secure a higher rate of silver States, and one of your very great mar. the necessities of war and peace.

kets. The United States can do in China America, so as to restore the old rupee generously and through an open door rate, ten to the sovereign, the old dollar with terrorism and with those exclusive China of three to the sovereign, there what Geriauny had intended to do vitely rate of five, and the old tael rate with Thus China's financial export industries of these islands as familiar with commercial methods the world is now would then be auch an expansion of the well-being is of infinite importance in would give us fixed exchange with Asia every port, not on your Pacific coast only and maintain our prosperity at a very but for your Atlantic ports too, ria high level." Panama.

“Amèrica already has learned her lesson in shipping in the experiences of the last three years. We are no longer to be dependent on foreign carriers that decree of a Isseign government. Our decree of a people are cheerfully providing billions for a cargo fleet, knowing that it will be made to bear our commerce in peace as well as the supplies of war,

Our

JOHNSTONE

SQUARE

BOTTLE WHISKY.

NAPIER JOHNSTONES

SSQUARE BOTTLE WHISKY

- SOLI AGENTS IN HONGKONG,

AND BOUTH CHINA...

LANE, GRAWFORD & CO.,

:

JOINT SERVICE

OF THE NEDERLAND" UND "ROTTERDAM

LLOYD" ROYAL MAIL LINES, NOTICE TO CONSIGNEES..

THE Biesmship

THE

“GOENTORE"

having arrived from SAN FRANCISCO, Consignes of Usigo are hereby notified that all Goods are being landed at their cisk into the hazardogs and/or extra hasardona Godowas of the Hongkong and Kowloon Wharf and Godown Co, Ltd, whence sud/ar from the whartos delivery may be obtained

No Clatin will be admitted after the Goods tare left the Godowns, and all Gooda remaining undelivered after Noon the 2nd Mar will The subjest to rent

All Claims against the sitesmer mant be

pre Anted to the Undersigned on or before the oth Mar, or they will not be recognised.

All broken, chafed, and damaged Goods are to by left in the Godowns, where they will ba samined on the 1st Mar, si 10 KM, by the Dompany's anrroyors, Mesure. Goddard Dongina.

No Insurance whatsoever bas, beetz flected,

Bulls of Lading will be countersigned by

JAVA-CHINA JAPAN LIJY,

Agente Hongkong, 24th February, 1918.

Now, on the very day when silver stood at 110s (September 26th); the Special ours, but to its infinite importance to the America for years watched the mer chant marine of Great Britain ant of Correspondent of the London Times in Allied nations which have to buy copper, Germany grow up with the aid of suh Peking posted a letter in Peking which lead, and zine for war munitions--mani- can be read in the Times of November tions, that is to say, which the strangle sidies. She saw ships under their flage 23rd, and which deserves leaded type in hold of our Allied Navies makes it im covering the seas, while our own grow every commercignifcerit market for Ameri

newspaper in America possible for the Hun to obtain The deal made by Lord Reading may or A section of Socialists and Pacifists steadily less. When the conflict came,It shows the

may not purchase a few million ounces hare managed to obtain control of the without tremendous increase in world enn goods which the pernicious activities Trades Union machinery, both as regards trade, our goods were borno almost en- of Lord Reading and his mission, operat a month for the Bland Act now the membership of the central organistirely in foreign bottoms. Foreign shiping your silver market, have once more operated by the Government of India, tion and a great number of branches owners have profited enormously from closed to your sellers and to ours. The for 30c. an ounce less than the natural America's prosperity. Large amounts of Times letter reads, in part, follows: market rate. But in doing so is he not The former, bitting like gods

:་ Pering, September 20th. The ad starving a market for these war essen Olympus, proclaim, Labour policy on the money have gone to their credit from fear and peace while their supporter their share in America's commerce, bevance in the price of silver and the con- tials, and obliging us to pay far higher lead, and on the latter, through delegates to Con cause in times of peace wo withheld sequent rise in

dollar to-day is

tion the ference, vote for it, as they did fonds, needed soil from our own shipping in this in exchange have should for all

double the average the big sulphide

an illustration

case of I take for and as they have just done in Loner. resta. This condition is rassing now, ment of China.

silver-load deposits. at Typical Labour leaders such as and our aspirations to world-trade to practically

The metallic Barnes, Mr. Hodge, Mr. George Roberts, quire that it shall never be permitted value before the war Thus

Utahy Bill Thorne, of Mr. Will Crooks to return After the war the red, white, meeting her heavy foreign obligations. Broken H. Australia. took no part in the Conference; and, and blue should be the dominating has to provide only half the number of content of the ores in Park City,

dollars that were previously needed. and of a dozen more of your big wet took no pastration, it may be stated colours seen at the stern of thing a Meantime the suit revenue is greater than and Idaho will all bell about the sam the letting by Pablio Anation Eals, to THE

ore silver camps in Colorado, Montana,

it

while the maritime Cus

Hill ion tale as Broken Hill. The Broken be held on TO-MORROW THURSDAY), the rare sight, evidence in the sh

w the base metals-copper,

sed from ALL Winn Manoranta.

[32

G.

PUBLIO AUCTION;

YARTICULARS and CONDITIONS of

.R.

that the Memorandum was not even carriera in our ports, instead of being a has ever been spite of the restriction le carries per ton of crude oro some 98th day of February, 1913, at 8 P.., at the formally placed befors vast bodies of

"There is shipping

revenue, in

toms, rev

Clint is

[1601

THE WATERHOUSE STEAMSHIP LINES.

NOTICE TO CONSIGNEES.

FROM BEATTLE,

THE Steamship

“LUISE NIELSEN”

shire, though they are alf supposed to be legislation that has just been approved upon trade, maintains itself in a manner oz. of silver, 25,p.c. of lead, and 250floes of the PUBLIC WORKS DEPARTMENT, having arrived from the above ports, Con-

llustratedrkable. The position is well 15.

workers like the 600.000 miners of Lanca- bound by the decision of the Conference! THE CHANGE AT THE ADMIRALTY.

Bir John Jellicoe's retirement caused less sensation than might be supposed.

by the Reichstag of the strengthening of

I learn from the Sulphide Corpora of One Lot of CROWN LAND si Causeway the alliance of great commercial corpora- whereas the Customs revenue used to be tion. 88 per ton; of milling and smelting Ray la the Colony of Hongkong, for terms of tione end the privileged class of the

insufficient by son

some £1,000,000 annually The bill muking absolute moet the Boxer indemnity, and others. So that with silver at the average 75 year, with the option of renewal of a nobility.

price yments secured on it, it is now carry- grants was passed despite the objection

to

Goods are being landed at their risk into the hazardsis and/or extra hasardous do lowas of

The Hongkong and Kowloon Wharf, mad

cost Product (8), nearly pays of HB MAJESTY THE Eina, for one further wharves dalívame my ba obtained: It was known in the Service Clubs that of the Socialists that it made a gift tong all these liabilities, together with the the sit the last ten years (say, 60 cents) CROWN RENT to be fired by the Barveyor Godowa Co., Ltd. whence and/or from the important Naval changes were pending capital in a favoured industry. The whole of the n000, and up t

by

and milling, but at term the on the Reorganisa

the 120 cents there is an added profit of 39 and the man in the street sees nothing German Socialists admitted, however, tion: Loan of

was, in addition, per ton treated, which would enable the for disquiet in what has taken place that the policy of subsidies could only end of July

1 po

but, also, in my letter If there is any sense of uneasiness it be overcome by international agreement surplus of about £2.000.000 available to lead and zinc to be sold at much lower

Chian

er 17th that the world finds expression in the carnest hope that if Germany is to hold her own in the the Government. There is in fact, prices.

to you of the change in personnel will not be contest for world-trade. The speakers every reasonable chance that followed by any "wild cat adventurce all manifested the Germani determination ing the next two years, will have enough is confronted with a most dangerous

redeem paper, and agniust the German Fleet, which still to be independent of foreign carriers, surplus fands to pay off outstanding shortage of at least 200,000,000 oz

must be borne in mind that Naval policy is collectively centred in the Board of

debts

to

dur

to

of

a year; that unless this shortage

Admiralty and is not entirely dominated great sacrifice to Germany at this time cause of such exchanges) of making a much higher price for silver--such a

by any one individua).

been or left undons. Bir

GERMAN PRIVATIONS.

Mrs. Peel, of the Ministry of Food,

two

just returned from Berlin to buy it

Field of

copper,

of 75 years,

PARTICULARS OF THE LOT.

Causeway Bay.

No. of bale.

Begistry No.

Locality.

Boundary

#

2

foci fext feet

Austial Rent

Upect Frico.

As par salu | plan. 13,153 155 8,672

[1668

DAIRY FARM NEWS.

SAUSAGES!

A Variety

suit all tastes

OXFORD BAUSAGES, CAMBRIDGE:

and available against the specie drain by the opening of remains carefully, coddled in the Kiel and to save money for the Fatherlandtandardise her silver coinage without is made

new silver mines, we here in London and defences and sea mines. Moreover, it materials and Germany's exports in Chinese do not seem to quite realise the German bottoms. The decision to sup-

reserves to most perilous dra

drain to Asia. port her shipping is one that involves unique opportunity they now have (be New York equally lay bare our gold fresh financial start without contracting but it means a new lease of life to Ger

price as will open new mines is our one and only road to financial security: Such was the position to which the These conditions are well known to every The failure to master completely the many's commerce if the war permits her further unproductive foreign loans.

an allied nation of near staden of exchange. Why, then, has commerce U-boats is generally regarded as the to resume her trade as of old"

400,000,000 people had been suddenly Lord Reading and his recent mission immediate cause of the First Lord's

elevated, because of that brilliant and

clean undone us, Over here we have not retirement. It would serve no useful

entirely natural advance in her exchanges the remotest idea with what argument he purpose to discuss this subject at length;

with the gold standard nations. The buttresses his attack on your silver-lend and with all the experience we have

Shanghai morohant, who but a few industries, and why there should exist Since last spring it is easy for critics poking at Bath in Devember, said an months before had bought gald exchange desire to clip the bullion price of silver gained of unlimited frightfulness since last spo say this or that ought English lady, wife of a professor with on New York with eight teels, was about at a time when both higher exchanges SAUSAGES!

as exchanged prisoners, told her that for five the old rate of three taels with Asia and a great addition to the

gold dollars (or one

Lead cient to have here had to meet a form of conditions of supply, and to important

and zinc are

conduct of warfare entirely new and rupulous too, meat was only half a pound, including demand in the world's silver market, the war, ever

clever and absolutely bone, per head per week. There was no silver had righted herself,

and the export It can

be sufficiently emphasised It is to his credit that the Huns have tea, coffee, cocos, sago, rice, or tapioca, trades of the United

interfere single and excopt children under 5

como by the tatis to Asia had that Asia la saturated with silvers

veritable storehouse that labori- never been able tansport of troops, and was allowed mille. No person was allow at last moment enter Lord Reading, and stored for fines pre-historic, and is also the money supplies abroad, while the attacks upened more than 2oz of fat and one egg at the exohange market with 600.000 000 Silver is the ads. If these myriads

Asiatics is again handed wer to be play of

of the Asiatic merchant shipping have been held. The fortnight. There problem which the Navy has had to solve sugar was used. no treacle allowed, and ed on as on an old fiddle" by the ring can

nover better stated than by Sir treacle then no augar. If women of speculators who have buy our gold (exchange) with to buy our goods. At 3 taels to the Edward Carson soon after he went to wanted new clothes they had to get a the past fifteen years, and a Bulver, they are then, and only then. Whitehall: To find a periscope in the permit from the Mayor, who decided

whether or not

attire wha their

I pointed cut in a letter which you sovereign the Asiatic can buy from us nor ever will buy decent for further wear. If the Mayor published on November 17th and in freely, but he cannot

is obliged to give, not 3, but. 8, t

toels decent that new apparel was necessary which I gave the figures from the Govern if he is.) the applicant had to surrender the aldment Mines Department at Ottawa that for the sovereign, the days at hand we New Year's Day sees the beginning clothes for conversion into shoddy The in the Cobalt Camp (Ontario) at the price I hope that in of compulsory sugar rationing cheapest woollen staff to be purchased in of silver last September 2,500 rainers wore may elicit in Parliament some reply to

producing silver of a value of over

trade questions as to silver. man, wornao, and child in the country Germany was 30s a yard.

per miner per year, and I asked whatisfactory settlement of this so-called

which is has been registered irrespective of age;

Valuce ip an industry of such importance silv

whe and from to-morrow none may receive

to a score of affiliated trades-timber and whole gold more than half-a-pound per week. It is

Of course, there are many and obvious chemicals, fluxes and machinery, railways her after the war we shall in this gen only a question of a few days or weeks till compulsory rations are the order of reasons against compulsory rationing, and coal mines whether this was an ineration resume specie payments, or whe the day for butter, margarine, and tea. Chief among them is that of expense and dustry to make once more a football for ther what now remame of our gold ng These three commodities, which are in the creation of an army of officials. Kamblers, and the prompt answer to this serves is to take refuge in Ashainzio

the La

to give us cause of queues outside the shops and fectly understand the important fact Mission to the United States.

I am constantly told that vast specula they ars offending to British pride and that while the system ensures that nobody British sense of fair-play.

de can have more than a certain amount it tion founded out special knowledge of pray that

was

Atlantio.' COMPULSORY RATIONING.

try

nojam, and. Whê, Bo

sufficiently

"

I

question, it depend the

In

short supply, have been the principal Besides, the general public as yet imper question was the dispatch of the Reading hoarding breathing space, we earnestly

father an studi

the meantime, junt

means to

PORK BEET LIVERY

BOLOGNA, HEAD CHEESE. BLACK PUDDING. WHITE

70.

€1898

HONGKONG METEOROLOGICAL"

REGISTER.

"Hongkong Observatory, February 261⁄2,

„ON DùbeOn Date

Day E

Baret

30.00

30.01 $63

3000

76

lock and key that large

you release any portion of For the most part it is, only the poor by no means ensures that there will be legislation pending where the cryptic keep safely under Will: find: est class who form the queues They certain amount for all Some must go question, of exchange comes in sine which you have accuunnit

is the India's exchanges as today, not a s

transfer this sovereign can stop here it will all just gallery crowd outsido a theatre, often The plan for rationing generally has not rauch

question to quite another pour pall mell into British India. Until r

the accompanied by little children. The yet been published, but it will probably

world's production of giver shall } be required to get their supplies from plane, and ask the consideration of your

gold We well-to-de, with the means to pay more be that adopted for sugar. People will for the goods, get what they went by socustomed shop and was implies; readers not to its relevance to the finanresa ces require from our statesmen and m other means. In this way there is that the Government must be responsible which we are allied in this war, and to

cial rejuvenation of a nation' (China) to manciers

the very

very closest watch and ward.—Yours faithfully, equality and class distinction which for distribution having already.com the growth of your export trades and

MOREDON FREWEN unchecked, must lead to serious trouble

mandeered supplica and stocks of staple foods.B

(Continued at foot of neat Volumn.)^ Carlton Club, London, Dec. 17th, 1917 (Continued at foot of nert Column)

open-air Tamperavery on 15th 70

være en 96th #2

Goods not cleared by the 4th Mar. at hem. will be subject to rent

All broken, chafed and damaged packagən ara to be laft In the Gedowns, where they will be examined by Mess 1. Goddard & Douglas, ou 4th Mar. at 10 AM A

Clains against the steamer must be pre- spated within 10 days of arrival, otherwina

will not be recognised.

be affected by

thog Tire Inearance will be

No.

in any case whatsoever,

Bill of Lading will be countersigned by

JARDINE, WATHESON & Co., LTD.,

Agents, Hongkong 25th February, 1918, · [1695

NOTICE TO CONSIGNEES.

FROM CALCUTTA, PENANG

SINGAPORE..

AND

THE Steamship

“BANTHIA” having arrived from the above Ports, Consigne of Cargo by her are notified that all Goods. are being landed at their risk into the hazardous and/or artis hazardons Godowns of the Hong- kong and Kowloon Wharf and Godown Ca Libd., whence and/or from the wharves delivery

be obtained,

may

Goods not cleared by 4th Mar will ba subject to rent.

be All broken, chafed and damaged packages are to be left in the Godowns, where they will be examined by Masers. Goddard and Douglas o 2nd Mar., at 10 AM.

Claims against the Bremmer must be presented in writing within 10 days after arrival of Stemmer, otherwise they will not be recognised.

No Fire Insurance will be effected by the undersigned in any case whatever

Bills of Lading will be countersigned by

UN DAVID BASSOON & Co., Tan,

Hongkong, 25th February, 1918, [24

REGULAR SAILINGS

TO VANCOUVER & SEATTLE.

For freight and further parti- culars please apply to—

JARDINE, MATHESON & CO, LTD. Tel 215. Sub. E-. 23.