1920-02-16 — Page 9

LIJN

JAVA-CHINA-JAPAN

REGULAR FORTNIGHTLY SERVICE BETWEEN

JAVA, CHINA AND JAPAN.

EXPECTED WILL HAVE

*From

For

ON OB ABOUT

ON OR ABOUT

THE HONGKONG

THILATJAP JAVA

TJITAROEM JAVA TJIMANOEK JAVA TJILEBOET

JAVA

22nd Feb

3rd Fab.

..29th Feb.

seth Feb.

1st Mar.

SHANGHA

JAPAN

*Wiralosë Telegraphy.

The Steamers are slatted throughout with Electric Light and have accommodation for limited number of Balcon Passengers. All steamers carry a duly qualifted surgeon. Carge taken at through rates to all ports in Netherlands India and Australia.

For Particulars of Freight and Fazings, apply to sho

York Balding, is Floor.

JAVA-CHINA-JAPAN LIJN.

Telephone No. 1574

DODWELL & COMPANY, LD.

STEAMSHIP SERVICES.

Regular Sealings

to.

NEW YORK

Vis Panama Canal.

S.S. MUNCASTER CASTLE ” Sailing on about March 23rd.

LLOYD TRIESTINO

S.S.

انا

"PILSNA

BRINDISI VENICE & TRIESTE

Sailing about Ead of March, 1990.

NANYO YUSEN KAISHA, Ltd.

(SOUTH SEA MAIL 5.5. 00.)

Regular Services between

JAPAN, HONGKONG & (JAVA.

FOR JAPAN,

Fon JAVA,

8.8. "ROJEN MARU? Sailing on or about February 26th.

OCEAN TRANSPORT Côl,

́ ́(TÄIŸO KAIUN KAISHA),

Steamship Barvice Trans-Pacific.

Also to Australia, Europe, etc.

Ltd.

NATAL LINE OF STEAMERS:

WAKING Cargo on through Bill of Lading to SOUTH AFRICAN FORTS with transhipmen: at CALCUTTA

in conjunction with the

INDO CHINA STEAM NAVIGATION CO., LTD. AND APOAR LINES.

or Freight or Passage on any of the above Linea apply tö:--

DODWELL & CO., LTD.,

Agents.

110

For NEW YORK & BOSTON.

THE U.S. SHIPPING BOARD

S.S. "CAPE MAY" MIDDLE FEBRUARY,

Via PANAMA.

S.S. "SAGAPORÄCK' SECOND HALF FEBRUARY. Via PANAMA

S.S. “HATCHIE " MIDDLE MARCH.

Via PANAMA.

F

S.S. “WESTERN CROSS"

EARLY APRIL.

Via PANAMA.

For freight space and partiulars apply to

THE ADMIRAL LINE

SLEPHONE

-2477 & 2476

FOR

AGENTS.

NEW

DAILY PRESS, MONDAY, FEBRUARY 16TH, 1920.

CURRENCY AND EXCHANGE NATION'S URGENT DEMAND:

INCREASED PRODUCTION.

On the motion for the second reading of the Consolidated Fund (Appropria- tion) Bill, in the House of Commons on December 17th

INDO-CHINA

STEAMONAVIGATION COMPANY. LIMITED.

JAILINGS "SUBJECT TO ALTERATION

HAIPHONG VÀ HOKKOW

SHANGHAI via SWATOW TIENTSIN MANILA

BANDAKAN 100. KOBE

19

STRAITS & CALOUTTA...

CALCUTTA JANE

attempt to prophesy what the course of events would be in that matter next year, or fix more definitely than he had done the course of action of the Government, would be premature, and at the present time highly rash on his part. It would he rash to suppose that if, by a wave of the magician's wond, they could bring themselves back to pre-war conditions of currency, they should find that pre-war Mr. Sugden said that unless we wors conditions prevailed in other respects. assured that our method of currency and He did not think it was possible or desir- Fiso exchange was applied in such a manner able If there was to be the general as would give the gret incentive vital in conditions of living among the manual and necessary to our industrial develop workers they would not get back to the produc- ment we should jeopardise and prostituta old prices unless now methods of the great sacrifices made by our men and tion compensated for the increased roet women on behalf of the nation during of the labour which was employed. A the war. The reports which had been pre-remedy which ought to be applied for the sented by the Committee on Exchange present conditions was increased produc and Currency were inadequate in their 'sion, and without that no other arrange

audice. (Hear, bear) references to our industrial development. ment would If we could utilise all the new applica cease to borrow in order to balance the tions of electrical and oil power, and the income and the expenditure of the rear new types of transport, there would be a was the frat duty be act before himself. great bound forward in our financial posi Having ceased to borrow new money for tion. The Government should follow up that purpose he wanted, as soon as they the Prime Minister's suggestion that could, to make a beginning with the re- there should be a great international loan. payment of the old debt, and, of course, By that means we would be able to help 14 the first place the repayment up to 2 reasonable amount of the floating debt. those with whom we were trading and thus extend our own trade. Unless some He did not think it would be thing of that kind were done it would financial operation as circumstances were be impossible to obtain payment of the at present to attempt a funding loan. indemnities. We should ask Spain, the le did not think the money for a landing United States of America, and the South loan would be forthcoming til it bad TIESTSIN] American States to accept some respon- been shown that we were in a position to sibility for the solution of the financial pay our way, borrowing to balance ro problems facing the world. More atten- venue and expenditure, had ceased, and tion should also be paid to our shipping we were really going to begin the actual

payment of debt. trade, which, in his opinion, wai being used against us..

DOW

To

Answering points raised by Mr. Sugden, the chancellor of the exchequer said that invisible exports at the present time were probably bigger than at any time in our history.

MIDDLE-AGED MEN' ANNUITIES. Mr. A. M: Samuel (Co. U. Farnham) said it was not so much inflation of cur- rency as inflation of credit that was at

INTERNATIONAL EFFORT WANTED.. the bottom of our financial troubles. Wo

It was in the interests of all the com- ought to have £1 worth of goods as against every £1 of bank credit should produce

but we had only mercial world to help in securing a settle ment. He believed it could only be 108. worth of goods. more goods to redress that balance brought about by an international effort on the broadest and most comprehensive Exted taxation would not do very much to reduce the balance against us; taxation scale by those who had the largest means. The Chan- Those were not to be found among the bad almost reached its limit

nations who fought from the first day cellor of the Exchequer should again pat

of the war to the end. They must look National War Bonds on tap. Many middle-aged men, would welcome a State to America and among the neutral issue of terminable annuities, say, at Powers, who had suffered much less. The thirty years. By attracting more money suggestion had been made that it was bis from the public the purchasing power of business, to coerce the Finance Minister of various Governments, but he did not the bank balances could be reduced. There was no reason why the attention think the bon, member who suggested that of merchants should not be called to appreciated the difficulties of interna tobacco grown in his Majesty's Dominions, tional negiatiations, and he would not be and by taking it they would avoid the likely to reach a happy settlement of so difficult a question. They were quito payments to America, where the exchange was unfavourable to us. A ship coming ready to join with America and our Allics. into Glasgow from New York on Decem- in any settlement of inter-Allied general bor 14th, brought in its cargo such things principles applicable to all, and they were as whisky, baking powder, trunks and Will to shake hands and co-operate in suit cases, fountain pen ink, garden tools, some worthy scheme for the restoration motor-car tyres, golf balls, soap, gentle of the commercial and economoc life of men's underwear, saucepans, penholders, shattered Europe if they found the other chocolates, knives, wire nails, churns, flewers would co-operate in it according cabinets, and three cases of pianos. That to their means and suitable methods, and which he thought they might be well advised to was spending our money on things do go. Some people asked how we were

ought not to

America buy from present moment, when the exchange

we

adverse.

Mr. Marrioté (Co. U, Oxford), though

war. Of course, great sacrifices were going to bear the burdena following the manded from the generation, which

In this case

they

that high prices were due to the low topled with their difficulties they would

of

he found to grow less, and the real remedy would be, not by wild expediency in taxa tion and sudden measures to cure all their difficulties, but by that growth of produc tion and of wealth which had time and again ander similar circumstances in the past rendered burdens, which seemed almost intolerable, light and easy to bear. (Heat, boar.)

CHINA COAST, METEOROLOGICAL

People to-day vero productivity- tired, and that fact ought not to be for gotten when accusations of lack of pro ductivity were bandied to and fro.. The conclusion was irresistible that there was a precise ratio, or almost a precise ratio, between the expansion of the carrenty

lovel and the general of prices.

INFLATION OF CURRENCY. Lieutenant-Commander Young (Co L Norwich) said we had taken bold of our rency and forced it up, and thereby forced up credit. It was necessary to consider the way in which Bradburys got on to the market. There was now only one way. Bradburys went to the joint stock banki the Bank of England. They were obtained in this way, and the joint stock banks paid for them by cheque against their deposits at the Bank of England Why did the joint stock banks go there for Bradburse. Simply to have more paper notes in order to deal with two things-rising prices and rising wages. It was the need of currency that in- fluenced the outflow of paper money. Vladivostocky What was it that caused the rise in price

Stativa.

muro ***

gaski

REGISTER

FEBRUARY ITH, A.M

and wages? What else but the increase Hakodate in bank note deposits, which in our sys Toko tem was the increase on the purchasing Kochi power of the country. That was the in fation of credit, and so by those two steps Kaguanima

Canims the paper currency was the inevitable consequence of the increase in banker

There was another circämstance. Lahigakijima which it would be wrong to omit. Ar Bonin liland

Weihai wei bankers deposite increased, bankers na- turally desired a larger amount of definita Hakow cash in band on the premises, The in- Ichang. crease and outflow of paper monen in the Kiukiang country was the natural and inevitable Changsha consequence of the inflation of credit It Shanghai was not only inevitable, but it was, ex- Gutalaff pedient. If there was going to be a great Sharp Peak increase in credit they must have an Amoy increase of currency, and what followed Bratos, from that. If the cost of the inflation

of currency was indation of credit, the Taichu` frajer only way to dedate currency was to deflate Tainan credit, and to try to deflate credit by a Kosaun hard and arbitrary deflation-of ourrency Pescadores would be disastrous.

by, an

Wind

1881111881359|11|8 UIULI

Hour:

Tapeter ·

at Sea Level.

Temperature

Humidity

Weather.

Direction.

Forve

630.30

30.30 35 100

7.30 12:45

6 $30,12"64

c:

CHEON

"LOKSANG". Taon 12th Feb. 8.3.m

KWONGBANG Wed, 18th Feb., D'light Thars, 19th Fab., D'light LOONGBANG" Thurs., 19th Fab. 3 pm. "HINJANG.Tue, 14th Fab. Noon! "KUMSANG Tues, 24th Fab, 5 pm. "CHAKSANG Tues., 24th Feb, 3 p.m.

This Line afforda regular sailings to. Calcutta canang and. Bingapore returning from Calonite steamers proceed is Strait and Hongkong to Japan, ostonally calling Shanghai. All steamers have excallens pastanger accommodation, fitted with Electric Light and Fans and carry a fully. Barg

Northern and

qualified

HANGHAI LINE-Sallings approximately every ive days between Canton, sad

Shangha sometimes calling at Swatow. Through dakot

through Bill of Lading wes lasued to all be obtained. Forts via Shanghål, LINE:-A wookly service, i matatalied with Mantis by vessels with good

•passenger accommodation, sellings from both parts every Prizky.[ LINE-Salling approximately ownokly for passengers and cargo,

caling at Heibow when inducement oficis.

CANILA

SAIPHONG

ONEO

...

LINE

-One" saling per maand between Hongkong and Baddakan by

A steamer having up-to-date accommodation for passengers. Cargo taken on through Bills of finding for Kuadat, Jes elton, Labean, Tawao and Labad Data-

LINE:-A_263nr service is ran from March to Novembar between

Hongkong and Tianwin, calling at Welhalwal and Chefno.

ない

CALCUTTA

S.S.

on

ΟΙ

will be despatched

LINE.

CHAKSANG”.

about February 24th, ́ for

SINGAPORE, PENANG & CALCUTTA,

Through Bills of Lading issued to RANGOON, PONT

SWETTENHAM and MADRAS.

For Freight or Passage apply to-

TELEPHONE NO. 915-.

Jardine, Matheson & Co., Ltd.,

GLEN

GENERAL MANAGER

AND

SHIRE

Joint Service of Steamers

U.K.-STRAITS, CHINA & JAPAN SERVICE.

OUTWARDS.

Middle of March

Due Hongkong

Discharges

Vessel

"GLENSTRAE"...About

"GLENAVY" "GLENARIFTE "PEMBROKESHIRE *

+

HOMEWARDS. Leaves Hongkong

19th February 29th FebruarJ 100 End of February

1-4

LONDON

·GENOA

GENOA & ANTWEEF LONDON

Movements are subject to change without notice.

For freight or further particulars please apply to:

Jardine, Matheson & Co., Ltd.,

(The Glen Line, "Ltd! ^

AGENTS: The Royal Mail: Steam Packet Co:

Owners of "Shire" Line:

Tol. No. 215, sab. ex 22.

Telephone: Sannomiy

3844, 3833.

Cable Address

Kawakisen, Kobe.

Bentley's, A.B.C. 5th Ed.

and Scott's Codes.

KAWASAKI KISEN KAISHA

Co.)

3006:50

[20:06 81 (93

23001 59

ኮ

20,00 81

4.99 73

130 02 58

Ba 30l

30.05 5390 Way

30.05

(KAWASAKI STEAMSHIP

30.07

CAPITAL RAID-UP:

4 They could do it Canton immediate reduction of currency Hongkong Gap, Bock by some such expedient as the impositaCRO

of a high standard of reserve, and

that means undoubtedly they wouldWachow...... deflate credit and prices, but that must Helhow necessarily be spasmodic

•Pakchot

And

ev Phulien of doing so would be that they would pro Tourans duce a dangerous discrepancy between the CapeS.Jam credit of the country and the amount of par

wara Dagupan

catastrophie. the first immediate Lect

STA FLOOR

HOTEL MASSIONS

208

canb reserves of the country X

Mazíls

ORLEANS.

THE U.S. SHIPPING BOARD

S.S.

"ASKAWAKE

About | Middle" MARCH, 1920.

For freight space and particulars apply to

THE ADMIRAL

Telephon

Agenti

LINE,

5th Floor, flotel Mansions,

but

1.93 72

59.94 75

90 20 88

6208 78''-95' 5W..

Tollast

T. E. CLIZTON, Director.

1. BAROMETER, reduced to 22 degrees Fahren- heit, on the level of theses in inches, tenths and hundredtoa."

INCREASED PRODUCTION A

Legaspi The Chancellor of the exchequer agreed with Commander Young that in the main Tacloben currency inflation was but a result of lail credit infation, and that they could not Sarigas effectively deal with currency inflation Guam except by dealing with credit inflation Labusa A sudden and violent reduction of credit would produce consternation and disaster, not merely to the Stato which endeavour, to balance revenue and expenditures the to the general economic structure of society in which we lived Buch & process must be gradual and must be watched carefully. He thought it would have been quite unsafe at an earlier period of this year to fix a maximum for the fiduciary portion of currency notes in another year. had been suggested that there was a great danger in fixing the maximum lost it became the mimum. He hoped it would not be so He would treat it not be a figure which they were to go as near to as they could, but a figure they would koop as much below as they would Any

2.TEMPERATURE, in the shade, is degre Fahrenheit.

8. HUMIDITY, in percentage of saturation, the humidity of air saturated with moisture being 100

DIRECTION OF WISD, to two Door

once or WIND, according to Beaufor: Scale. STATE OF WEATHER, b bine sky, o detached aloud, d drizzling rain, f fog, g gloomy, a hail, I squal, lightning, o overcat, p pussing showers, q

dew rain, snow, thunder, visibility, we....

7. Kain, in inches, t tenths and hundreda. -

Y20,000,000

President: Mr. Y. KAWAKAKI. Vice-President: Mr K. MATRUKĀTA. Managing Director: Mr. MASATA ABE.

The Company has on hand's Large-Number of

NEW CARGO STEAMERS

ALWAYS READY FOR

CHARTERS of all descriptions.

The fillowing are comprised in the Company's Fleet :---

Eleven steamers of 9,100 tons each de.dweight.

And, under the Company's management

Twenty steamers of

Two steamers of too tons deadweight each

6,400 tons deadweight.each, Bolonging to the Kawasaki Lockyard Co, Ltd).

For Charler Bates and all other particulars apply to tho

122

KAWASAKI KISEN KAISHA,

No. 8, Bu, Koni