THE HONGKONG DAILY PRESS. 'WEDNESDAY, JANUARY" 28TH, 1992;
DODWELL & CO., LIMITED.
REGULAR SAILINGS TO NEW YORK & BOSTON for NEW YORK & BOSTON via Suez.
LL. "DACRE CASTLE"
+
exfting an or about 18th of Feb.......
"BOLTON CASTLE "
› sailing middle of Mar.
LLOYD TRIESTINO.
TAKING CARGO ON THROUGH BILLS OF LADING FOR LEVANT, BLACK SEA & DANUBE PORTS.
FIUME having been re-opened for traffic, cargo in also accepted for this port on through Eills bf Lading,
まぢ
"TRACIA"
FOR SHANGHAI.
sailing beginning of Feb. -
FOR BRINDISI, VENICE & TRIESTE
"TRACIA "
sailing on or about 2nd half of Feb. Paanongers' Laggage can be insured at the Office of the Agents.
NATAL LINE OF STEAMERS.
Balling from Colombo is South African Forts
SOUTH AFRICAN PORTS from CALCUTTA & COLOMBO, Through Bills of Lading issued from Hongkong..
For Freight or Passage on any of the above Linos apply to
DODWELL, & CO., LIMITED,
Agenta.
N. Y. K.
"BAILEYWS FROM HONGKONG SURJPÓS "YO‘ELTERATION.
*
VICTORIA, SEATTLE & VANCOUVEB is Shanghai Japan ports ":"Thrstigh Bill of Lading issued to all Orarland common Pointe in USA. and Canada,
Wednesday, 8th Feb., at 11 am. FURKIMI MARU
Baturday, MARSEILLES, LONDON & ANTWERP via ́Singapore, &c.
KATORI MABU (Nagasaki direct))
BADO MARU
-
Saturday, Friday,
BAMBURG, via LONDON & ROTTERDAM
- KITANO MARU
*MATSUMOTO MABU
-LIVERPOOL via daBANII LEA.
MALAOGA HARU
Tuesday,
4th Mar, at II 2.m.
11th Feb., at 11
17th Feb
7th Feb.
Thursday, 8th Feb.
DECLINE AND FALL OF CIVILISATION?
MR. H. G. WELLS ON CONDITIONS IN EUROPE, FAILURE OF MONEY DESTROYING CIVILISATION,.
LOADED WITH DIRTY. And so we have whole antions in Europe so loaded with debts and puni | tivo_charges that every worker, overy business man, will be under his share in this burden from the cradle to the grave. He will be a debt serf to the domestic or foreign creditor and all his enterprises | will be weighted and discouraged by this obligation Debt is one immense and universal discouragement now throughout
INDO-CHINA
STEAM NAVIGATION COMPANY, LIMITED
SAILINGS, SUBJECT TO ALTERATION TAINGTAO VIN SWATOW & BHANOHAI WAIBBING ...I HALPHONG VA HOCHOW
BANGKOK
SHANGHAI via SWATOW
SANDAKAN.
.
In the
STRAITS & CALCUTTA MANILA YOKOHAMA & KOBE
*TAKSANG" ...Fri, "HOPSANG: Frit
▪HANGSANG...........Fri.
" MAUBANG".
27th Jan, D light 27th Jan, 10 A.M. 17th Jan., 10 AUM. 97th Jan Noon. 17th Jan, Noon.
"FOORNING", 274 27th Jan, P.
YUENSANG". "KWAISANG
Mr. H. G. Wells has been writing for
syndicate of newspapers-American, all Earope British and Joponete a series of articles · But even that is not the greatest dis on the Washington Conference.
couragement of Europe. There is yet! two articles which we propose to repro-another and profounder evil in opation CALCUTTA "LINE:-This Lane affords regular sailings to Calcutta, Penang Me duce, Mr. Wells elaborates a theme" en- pressed in the above headlines.
said
civilization Wa
tion in the old world.
That is the im-
Pay-
✓
to prevent people “ getting to work " to reconstruct their shattered economic life. WASHINGTON, November 24th' That is the increasing failure of money In the opening paper of this series I to do its work. Europe cannos get to
that western
work, cannot get things going again, be undergoing a very rapid process of dis- cause ever a large part of the world the SHANGHAI organization, a proetes that was already medium of exchange has become untrust nearly complete in Russia and that was worthy and unstable. spreading out to the whole world. It is mediate thing that is destroying civilisa- | MANILA a huge secular' process demanding up“.
We have to remember that our whole HAIPHONG precedented collective action among the economic order is based on money. We nations.if it is to be arrested, and I wel do not know any way of working a big BURNEO cothe the Washington conference as the business, a manufactory, a large farm, a most hopeful beginning of such concerted mine, except by money payments. action: Now that the Washington "con- ference has defined its scope and limitat in kind, barter and the like, are tions and got down to a dednite schement and clumsy expedients; you can of work, it will be well to renew attenspot imagine a great city like New York TIENTSIN tion to the dichipe in the world's affairs.
getting along with its industrial and business life on any such clumsy basis.BANGKOK Now, there are great bumbers of per Every modern city. London, Paris, Berlin, sons, more particularly in America, who is built on a money basis and will collapse still refuse to recognise this intermittent into utter ruin, as Petrograd already has and variable process, which resumes and collapsed, "if money fails. "But over large goes on again, and rests steady for aand. increasing areas of Europe money time and then hurries, which is taking is now of such Auctuating value, its par- (all that we know a civilization in chasing power so uncertain that men Europe towards a final destruction. The will neither work for it, nor attempt 10 mere statement that this is going on they save it, nor make any monetary bargams call "pedstalls," and "with a sort of ahead. genial hostility they oppose any attempt to consider the possibility of any action to turn back the evil process. I suppose they would call the note of a fire alarm for the topt of a motor boru "pessimistu
until the thing hit them good and hard. It would have the same effect of a dis agrecable warning, and interruption, to the even tenor of their, ways.
They argue that this alleged decadence is not going on, or what is from soundly practical point of view the same thing, that it is never going to reach them for anything that they really care for.
BLINDLY REFUSING TO SER.
The starvation of Russia, down to a empty shell, the break-up of China, the retrogression of south-eastern Europe to barbarism, the sinking of Constantinople to the level of a drunken brothel, the steadily approaching collapse of Ger- many, is nothing to these "optimists," American is all right, anyhow, and am I my brother's keeper! It is just a phase of misfortune over there, and the people must get out of it as they can. Wat for the swing of the pendulum, the turn of the tide. Things will come right gain over the heaps of dead. There have been
such alumps before in these countries
away over there, notoriously Jess fav ed by God as they are, than America That is these mititude.
It may be well, therefore, to go over
SIDNEY & MELBOURNE is Manila, Zamboanga, Thursday this matter a little more fully and to give
Island, Townsville & Brisbane. AKI MARU
Tsentry, --14-Fob pat 11-4.7.. LEW YORK, VIA PANAMA & CUBAN PORTS.
Middle of Feb. TAKETOYO MARU
NEW YORK vis Buez."
BIO DE JANEIRO, SANTOS &
KANAGAWA MARU...
BUENOS AIRES is QAPR.
BOMBAY via Singapore, Penang and Colombo,
WAKABA MARU
ONIO
End of Mar.
Tuesday, airt Jan.
Saturday, 11th Feb.
JALOUTTA via 'Singapore, Feitang & Bangoon.
FENANG MARU
NAGASAKI KOBE & YOKOHAMA,
TANGO MARU
BANGHAI, KOBE & YOKOHAMA.
MAYMBASHI MARU (calling Moji)
KAMO HARU
Friday, 17th Feb, at 11 am
Wednesday Iat Feb.
Thursday 2nd Tab, 6-11 al
KAKEL MEERST
Türker Information apply to NIPPON YDSEN KAISHA.
For talk pětné Nea. 299 à 253
AKISEN KAISHA.
YAMASHITA
(THE YAMASHITA S.S. Co, Lt6.)
REGULAR FREIGHT & PASSENGER SERVICE
A HETWEEN
KE LUNG, HONGKONG & HAIPHONG.
Sailing from Hongkong.
FOR HAIPHONG"vla "Holhow & Pakhol
8.8. - TAIKWA MARU” MM FOR KEELUNG via Swatow-& Amoy
For further particulars, "oloase apply tam
Branch Qizios,
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FOR EUROPE AND AMERIÓN
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森なな
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th world, $14.
Tuesday 14th Jan. 11 am,
8. MITĀRAL
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Tel. No. 160.
FOR SALE.
NAVER ATTORE IN HISTORY.
Such a thing has never occurred to any- thing like the same extent before in all history, and it is killing business enter- Prise altogether and throwing whole masses of working people out of employ- meat. Europe, without trustworthy money, is as paralyzed as a brain with qut wholesome blood. She cannot. net, she cannot move. Employment. becomes impossible and production dies away. The towns move steadily toward he starvation that has overtaken Petrog and the peasants and cultivators cease to grow anything except to satisfy their own needs. To go to market with pro- duce, except to barter, is a mockery. The schools are not working, the hospitals, the public services; the teachers and the physicians and officials enanot live upon their pay. They starve or go away.
This state of affairs has been brought about by the reckless manufacturing of paper money, by nearly every European government; we can measure their reck- lessness roughly by comparing their pre war and post-war exchanges. It is only now that we are being to realize the enormity of the disaster which this demoralization of money is bringing upon
·
97th Jan. 3.6. 27th Jan, 5PM.
Singapore returning from Calcatta, steamers proceed via Straits and Hongkong to Japiso, ccussionally calling at Shanghai.
All steamers have excellent pamengor Accolimodation, ses fitted with ectric Light and Fang, and carry a fully-qualified Burgeon
LINE-Balling approximately every three dapi oetween Canton and
Shanghat, sometimes onling at Swatow Through tickets a be obtained and through Bill of Lading are ined to Northern and Yangtare Porta Sheng but. LANE-A weekly service is maintained with Hands by remala with good LINK-Ballings approximately weekly fur psengtes and cargo,
ganger accommodationallings from both ports every Exhday.. calling at Rohow when indummers offers. LINE-Fortnightly salliigs to and from Sandakan, by swa. 5,600 tomm steamers as, " HINHANG. and as. #MAUSING" both steamere having excellent parangur accommodation, Largo, payan î through Bills of Lading for Kudat, de
Jeksoton, Labuan “Tavas and Lahad Data.
LINE-A regular service is ran from Harch to Norber Between
Hongkong and Tiantain, calling at Wellniweland Castoçə- LINE-A weekly service is provided between Hongkong and Hangkok
vla Bwałów, by five,- atenuery fitted with up-to-dabe "manesern accommociation I
OALOUTTA
LINE
*-* 'FOOKSANG" will be despatched on or abrul" Wednesday, 25th Jan, at 3 p.m., for SINGAPORE. PENANGIJ & CALCUTTA.
"Through Bills of Lading issued to RANGOON, PORT SWET TENHAM, MADRAS and DUTCH EAST INDIES;
"For Freight or Passage upply tom
CATHORE Not E.
Jardine, blatheson & Co., Ltdy
GLEN
GENERAL MANAGERS
AND
SHIRE
Joint Service of Steamers.
the world. We have weakened the UK.-STRAITS. CHINA & JAPAN SERVICE.
cash payments, which has hitherto held aviation together at the breaking point. As the link breaks the machine stops. The modern city will become a formless mob of unemployed men and the my grounds for supposing that there is countryside will become a wilderness of a rot, a coming undone, going on in our food-hoarding peasants and since the system, that, will not necessarily recover.urban fasses will have no food and no
that the movement is not "the swing mears of commanding it we may expecti of a pendulum," that will turn again the most violent actions before they are Further, this rotting process is bound to persuaded to accept their fate in a affect not merely Europe and Asia, but philosophical spirit. ultimately America..
WHAT IT WOULD MEAN, Now let us recapitulate in the most general terms what has happened and Revolutionary social outbreaks are the is happening at the present time to im results of plots; they are symptoms of poverish and disorganize the world. First social disease. They are not causes but there has been very great destruction of effects. This is what I mean when I life through the war, especially in write of a breakdown of civilization. I Europe. Mostly, this has been the kill-mean "the "death of town life, which can- ing of young men, who otherwise would not go on, without money age cessa have been the flower of the working mass tion of organized communications. I of these countries at the present time. mean a breakdown of the organizationa This in itself is a great loss of energy, for keeping the peace. I mean an end to but is a recoverable loss. A gencra organized education I mean the smalh tion is already growing up to replace ing of the social order in which we lire, these millions of dead and to efface the through the smashing of money, which, economic loas of this tragic and sorrow, has alleady setarred to a large extent fal destruction. Nor is the extraordinary in Russia; which is going on in many waste of property, of energy and raw parte of eastern Europe, which sectos materia's spent in mere destruction a likely to occur within the next few months irzepinceable-loss. Given toil, given-cour in Germany, which may spread into Italy age, devastated areas can be restored, and France, and so to Britain, and even fresh "energies found to replenish the to the American continent and which can countless millions and millions of foot only be arrested by the most vigorous pounds of work wasted upon explosives. collective action to restore valid.ty to Many beautiful things, buildings works money of #hich vigorous collective of art and the like, have gone, never to action there is in Washington at the pre- be gotten again, but their place may consent moment no sign.
ceivably be taken by-new efforts of creative artistic energy, given toil, given" confidence and hope
HITS AT THE HEAET.
Far more serious from the point of view of the future, than the destruction of either things or lives, are ourtain#{ subtier destructions because they strike at that toil, that courage, and hope and confidence which are essential to any sort or recuperation,
"TOO MUCH DEFLATION.”
AMERICAN ECONOMICS
WARNING.
Professor
well- Irving Fisher, the known Ameritan economist, on Dec. 5th, gave the first of two lectures on "Business. Depression and the Instability of Honey" at the London School of Economics. Professor Fisher has occupied the Chair of Political Economy at Yale since 1898.
And foremost is the fact of debt, every where, but particularly in the European countries.. All the billions worth of material that was amashed up and blown to pieces on the front had to be bought Professor Fisher said that no Govern. from its owners and to obtain it every Ement would stop indation ratil it oquld belligerent government, had to incur debtu balance ita Budget. Deflation must ba Lives coat little, but material much. The stopped as well, inflation and deflation European combatanta are overwhelmed being not antidotes, but twin evils. For with debts, 'every European business man nearly two years the public opinion of is a debtor; every European enterprise the world had been victimized by the goes on under a crushing birden of tata idea of returning to the pre-war stand- tion because of these debts. An attempt ards. As a result of the credit restric has been made to shift this anendurable tions of 1920 and the withdrawal of paper burden from the victors to the vanquish money, prices in the United States and ed, but the vanquished already had as England had fallen half-way back to the much as they could carry,
pre-war level. Very few would now de- Now when first mankind began to mand that we should keep on through the experiment with money and credit, the other half. Defation had given no reak lot of the debtor was an intolerable one-relief from the high cost of living, but STEEL" DRUMS He might become the slave of his credi, it had brought new troubles of its own. tor, he might be subjected to imprison While defation "did justice to the few ment and frightful punishment. But it pre-war creditors still surviving, it did] was early discovered that it was not to injustice to the much larger number of the general advantage, it was not even war and post-war debtors. Such an in) to the advantage of the creditor, to drive sane requirement as a turn of the old the debtor to despair. Processes of bank pars of the money of Continental Europe ruptcy were devised to clear him up, get could only result in bankruptcy and run. what was possible from him and then. The only solution at once just and prac release him to
a fresh start and hope ticable was that the currencies of Con But we have not yet extended the same tinental Europe should be nabilized at leniency to national bankruptcy because greatly reduced valuations as compared pational insolvencius have been rare. with their pro-war values.
Large Stock of New-
and Becond-hand
GALVANIZED
(capacity 50 & 100 gallons).
Price very moderate"
Apply to KWONG BANG HONG LTD.
O. Box 320, Hongkong
M.V. "GLEN ATTEN IV. GLENAMOY" MV GLENFARA"
MY. “GLENAVY" M.V. “GLENLUGE* BS. GLENBHANK”
OUTWARDS.
'Das Hongkong
26th Jan..
S1st Jan. 18th Feb.
HOMEWARDS, Leaves Hongkong
Tischarges 29th Jas GOA, LONDON, ROTTERDAR, & Hacross. 10th Feb. LowNDON, MOTERRIAN, ANTWERP & BAKIUSA g0th Feb. thesda, Mansrinces, Lösnos á HAMBURG
Morenantu' are subjesh-in change without notice. "For freight or further particulars please apply to --
Jardine, Matheson & Co., Ltd. The Glen Line, Ltd;,
Talephone No. 115 mb-ax. 22 and 2006.
Cable Addrüse
Eswadsen, "Kobe.
- Bentley's A.2,0..531⁄2 34.
and Boot''s Codes
Tuaphone Banaanky
5844-3733.
KAWASAKI KISEN KAISHA
-(HAWASAHI STEAMTHIF «CO} CAPITAL FAID-UP.
President Mr. Y. KAVIKEL
• Y90.000.000
Vino Prezidenti Mr. K. MatsuKATA. Managing Director Mr. Malaga A33
Odky say,bas-on Band'a-Large-Bambu of
NEW CARGO STEAMERS
ALWAYS KRADY YUH
CHARTERS of all descriptions.
The following is comprised in the Company's Fleet com
Eleven steamers of 9,100 tons shoh deadweight
J-4
And under the Company's Managemontee
Twenty steamers of about 9,100 tons desdweight each Two steamers of about 6,400 tons deadweight Bach
(Belonging to tha Kemusth Doskyział Co, Idl)
18
Forfentors tipoly to th
KAWASAKI KISEN KAISHA,
Hats, Ban Kol
THERAPION NO THERAPION NG2 THERAPIONNI
BOLS ST LEANIDA UNITATS PENDUDU
ON BALE
FOUND VOLUMES of the HONGKONG
BEEKLY PRESS, January to Je
1921
With It, Price $7.50.
On male at the Hongkong Daily Pre- Ofoe
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