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A delicate flavour is added to stewed or tinned fruits when served with a delicious custard, so easily prepared with good, sweet milk and
Brown & Polson's Custard Powder
Wholesome, economical and of absolute purity, its merits are widely appreciated.,
Packed in tins, each. containing 1-1b. net.
Brownz Polson's
CUSTARD POWDER
Made in Scotland, of the
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-As reliable as-y Brown & Palsan's Corn Flour,
HORLICK'S
HORLICKS MALTED MILK,
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by drinking HORLICK'S MALTED MILK, the finest Food." Drink for all Ages. By its 2039 assimilation it promotes a steady acceleration of nutritive nerve force and brain power. Thus it is that those who take HORLICK'S are marked by their cheerfulness and which quick grasping faculties,
enable them to overcome the strain of avery day life. Made instantly "by the addition of hot or cold water.
Of all Chemists and Stores
HORLICKS MALTED MILK CO SLOUGH, BLICKS. ENG.
WALLACE PARLEY, 1,
THE BUSD. SHANGHAI.
WAYGOOD OTIS LIFTS
For particulars and quotations apply to
THE HONGKONG DAILY PRESS, WEDNESDAY, JUNE 28TH, 1922.
The Sole Agents-DODWELL & CO., LTD
1ELEPHONE 1030.
MACHINERY DEPARTMENT.
Peps
For THROAT, CHEST & LUNGS
To ward off coughs, colds, and, night chills, and to protect throat, chest and lungs against climate and disease, everybody needs Peps.
As Pepa tablets dissolve in the mouth they give off medi- cinal fumes that carry soothing and healing benefits to the entire breathing system. Inflammation of soreness in the throat or bronchials is quickly silcyed, coughs and colds are nipped in the trud, and the cheat and lungs are atrengthened- against Bronchitis, Asthma, and Preumonia.
“A PINE FOREST IN EVERY HOME'
"PHILIPS
APHILIPS LAMP
IS A PERMANENT
ECONOMY
SOLE AGENTS
Holland China Trading Co
Hong Kong tại
[3
11
PROSPEROUS GERMANT"
A MYTH.
AN ECONOMIC PARADOX, INDUSTRIAL" "CIVILISATION HAS SURVIVED
THE VIEW OF DEAN INUE
Dean Tuge le writing a series of articles for the Loudon Daily Express in which he impartially explores the economic position in Germany. The following is the first article of the series:-
No eles of pandits has been unde to lock so foolish "since 101t as the finial experts and political economists....
The Chatellor of the Exchequer in
feature is that the chief banks (only give 13 p. interest on deposits, and land noney at very low rates. This has tempted industrial companies to borrow rably; a sadlen fall in prices wonkl produce a crash,
NOBODY WORKLENS.
There is no unemployment in Germany. The advertisement, columns are full of situations vacant and contain, very few untices from men in want of a job, The nation is working hard, with a conscious realisation that industry is the only rad to recovery; but it is not true that the eight hours day és habitually oversteppal, and that put pr oan is not equal to average, partly because the the is effects of under-feeling and exhaustion are still traceable, and partly because the condition.
INDO-CHINA
STEAM NAVIGATION COMPANY, LIMITED.
BAILINGS, SUBJKUT - TO. “ALTERATION
SHANGHAI via SWATOW HAIPHONG vis HOIHOW SHANGHAI vis SWATOW BANDAKAN MANILA
প
Tin SWATOW
via SWATON
ANDHI v SWATOW
SHANGHAI
TSINGTAU via SWATOW
& SHANGHAI.....
"WAISHING" Waluesday, bil Juno,
TABESANGTM “TUNGSHING
Thursday, 8th Jane, ...Friday,
ANG Friday”.
ISANG "
CHYONGSHINGS
**KUTSANG".
Daylight
10th Jane,
30th June,
Noot
30th June 3pm
tat July,
Noon
1st July
HOPSANG
KWAISANG
Sunday, Nesday,
2nd July, Noon
'2nd July,
Noon
TINGSANG" Wednesday,
th July,
Nood.
-"LOKSANG"
Thursday,
69h July,
Noon.
7th July,
Youth
3
HANGSANG" Friday. STRAITS & CALCUTTA ..... ...KUMSANG"...Wednesday, 18th July,
that year would not wish to be reminded machinery nud plature not in such pool CALCUTTA KANE:- This Ling' afforda regular wallings co Calcutta, Fenang kita.
of his sapient prediction that Germany would be able to raise 200 millions to
There has undoubtedly beën production
Singapore; returning from Calouste steamers proceed via Ambe and Hongkong to Japan, occasionally calling at Shanghai All steamere have excellent passenger accommodation, are fitted with Electrio Light and fans and carry a fully-quallbed
Pasta metimes calling at Swarow, Through tickam cam
carry on the war, but not much more: hebeyond the normal and annual consump said it, none the less. After this little ton. But this has chiefly gone to restock. miscalculation, the Government seemed to ing the country, which at the armistice
was nbnost denuded of commodities of SHANGHAI LINE -- think that our country had songshor come.
"The enadition of things, into un inexhaustible fortune, and behaved every kind. lika a young ne'er-do-well made happy hyperially in the matter of clothing, houso linen and furuit is very different from that in November, 1918"
the Jews.
Now, three-and-a-half years after the Armistice, all economic principles seem to be turned upside down.
America and Switzerland are gorged with gold and unemployment'; sur own country, though nqmjually solvent, is over taxed and distressed. Russia, industrially ruined, is starting again as a nation of pensant proprietors. Belgium is pros perons en orthodox lines, producing and eaving bar Several other eventries are bankrupt, but smiling.
AN IMPARTIAL WITHESS.
MANILA
1
approximately every three days between Canton and
inned
many serais to be fairly answered in this HAIPHONG LINKSmall weekly. for: passengers and
for.
BOENE
Carge.
be obtained and through Bill of Lading Are Northern and Yangase Ports via Shanghal LINE:-A wookly service li maintained with Manils by vessels with so senger accommodation, sailings from both ports every Falday.
when inducement offers. LINE Fortnightly sailings to and from Sandakan by bes 3,000 tons
steamers E.FINSANG" and a HAUSANG" both atsamer having excellent passenger accommodation. Large maken en through Bills of Lading for Kudat Jesselton, Labuan. Tawa and Libad Datu
rom March to Aovember biwers LINE-A regular ad fintain, calling at Weihaiwel and Chefoo
Hongkong
service is ran
ין.
via Bwatow, by five steamers Asted with up-to-date, parõngas LINE-A weekly service is provided between Hongtong and Bargasx,
a commedation
CALCUTTA
The reset question of taxation in Ger book Germas taxes are very complicated. They include a war tax on increment value, a capital levy (these are non-recurring payments). donth duties (which vary from 5 to 75 per cent), and income tax (whica wag-carners, like everyone else, Have to TIENTSIN pay). It varies from 10 to 50 per cent." A. German who caras 50,000 marks (187 in BANGKOK our mouer) pars au income tax of £12, as against thing in England; an earned ince of 2750 pays 2171, as against 92 in England; £3,750,jays 21,146, (Sir I base read many able reports abunit
to have the internal condition of Germany, but is £1,073, in England.
Hury, however, aberas none has impressed me so much as the
gotten here to wld our supper-tux). It is little book called Is Germany Prosper plain, then, that the Germans are very ous by Sir Henry Penson, formerly heavily tavel, and yet the Government chairman of the War Trade Intelligere Department and director of our Inteffi- genes Section at the Peace Conference of 1919. His competence as a financier ea not be disputed, and his impartiality is equally apparent. He has not written a treatise on the reparation question. His book is a study of the economic condition of the Rhineland, compiled with the hell of British and German experts, especially German business men and statisticians.
The Rhineland is not the whole of Ger- but it is much more German than that most intypical of German tewas, Berlin, and Sir Henry has collected ori dence from other provinces as well as from. the Rhineland. He has made, as he says, au honest attempt to shed light on a dark and dittcult question.
many,
He found Germany, a mass of economic paradoxes.
quite unable to make the two ends meet. The outlook, he thinks, is very bad, in spite of superal signs of prosperity, Those with inside knowledge look forward with apprehension to a terrible period of unemployment and industrial collapse." There is a settled conviction that though the recovery of the mark is for Germany's as well as for the world's recovery an absolutely necessary thing, get it cannot come without having as its first conse. uence a collapse of Germany, industrially and finansinily.”
ONLY BITTER AGAINST FRANCE.. "Sir Henry is not à pré-German, but be thinks it right to say that he has observed no signs of moral degeneration in Gerinany, and very little bitter feeling, except inst the French. He will have the whole busi-
a trader sells his goods atness community with him when he says that
a profit and loses by the tansaction; the we must no linger look upon the world ás mauufacturer, after a record year for sales divided lots tan main groups with conflict- aud prices, is poorer at the end of it; all ing interests, but as a great economic are fully employed, but the standard of society in which the weakness of one member living is low; there is a great output of affects the health and prosperity of all wealth but no surphs, high laxes and Ia heavy deficit,
PROBLEMS OF THE MARK.
The notar that enormous payments can be squeezed out of a country in the condition in which Germany now is be We in England often fail to distinguish dismisses as chimerical, and I have never between the internal and the esternal value ausiness man who does not agree
of the mark. In January of this year, with him. To keep two million Englishmen
| fixed income of £2,500 in Germany was out of work in order to gratify the animo equivalent to only £66 at the current sity or allay the apprehension of the French rate of exchange. But the real value of is not a policy which will commend itself to that income, a German, depends on any sersible Briton. what it will purchase in Germany, bot on what it could be exchanged for in Eng land. Sir Heurg Penson finds that the internal value of the mark is about three times its external value.
This difference gives Germany a great advantage in selling exported goods, but is really unfavourable to the country as a whole, because, if it is to balance it more accounts, it most part with far material wealth than it receives back in the form of food and raw materials. The violent fluctuations in" the value of the mark are also very injurious to business. It is like measuring with a piece of elastic instead of with angid foot-rule..
My impression after reading this book is that industrial civilisation in Germany, as in the Allied countries, has survivel a tremendous shock. There will be grave economic crises there and eleswhere. But if the natios of Europe can agree to disarm and live at peace, and if they can turn a deaf ear to the wild men who want to upeat the onch, the world is already convalescent.
SALUTING THE FLAG.
AUSTRALIAN LABOUR ANGŴY.
The New South Wales' Labour Council incensed at the action of the State Minister of Education in directing the State school
The cost of living in Germany has in. craised about 20 times since 1914, although bryad and coal are controlled and old below cost price. An Englishman travell ing in Germany Ands the country an children to salute the flag weekly on asem. Dorado of cheapness. A dinner of four courses costs. 10d., a bottle of Rhine wise da stall at a theatru 31. Bát a German finds little to congratulate bimself upon in these prices.
INCOMES LEVELLED DOWN.
One effect of the financial crisis has beca to level down all incomes. Skilled. and unskilled labour now receive almost the! mamo wages. As for the offel! clais, taking the unskilled workers as 100), the jacomes of lower officials, middle oficials, and higher officials would now be repre- seated by 113, 151, and 215, as dinst the pre-war figures of 165, 385, and 685." The unskilled labourer is getting 34 times as much na before the war, and is probably better off than he was ten years ago; the higher official, whose income has been raised ten or twelve-fold, has lost about half his purchasing power.
The condition of those who live on the! interest of capital is pitiable. They have lost from four-fifths to nine-tenths of the real value of their incomes, even when the nominal capital of companies has been doubled or irebled. The professional class has been very hard hit, and only the lid domestic virtues of the German hausfrau. enable such families to keep their heads shove water. However, poor it may really Loop up be, & German family manages appearances; the whole population is well shod, and thanks to old uniforms dyed and alterad, the men look well clothed.
bling, has recommended members and workers generally to leap their children away till the ceremony is over.
A. G. DA ROCHA
LUUTIONEER, SURVEYOR AND GENERAL BROKER.
No.:14. D'Agulay Street, Telephone No £95%........
WEEKLY AUCTIONS,
TUESDAYS —--
MISCELLANEOUS "GOODF,
THURSDAYS
VALUABLE
HOUSEHOLD FURNITURE
SATURDAYS –
EXCELLENT
ROCÈWHOLD, FURNĒTURE
WETARZO
Irial Roste alter remedy kv. Jevons
MAAR: 'A CEFFUNT KHETRATION,
Sir Henry say that there is very littlew or Ted Kendine De. Pre thrift, in comparison with former days. But the amount in the savings banks is considerable, and we have heard that large purchases of British War Loan and other high-clase securitics in this country have recently been made by Germans. A curious
DR. LECLERC'S
OLEVALUAREN POR DALAM SE than moviAKT specs Big Tending Guest Dr. Fow PreDigi DUBNI MAG Largeftochi W, Londo
i
LINE
or about
1.5. ↑ KUMSANG" will be despatched on Wednesday, 12th July, at 3. p.m., Jer SINGAPORE, PENANG & CALCUTTA,
Through Bill of Lading issued to RANGOON. MADRAS, PORT SWETTENHAM and DUTCH EAST INDIES.
Fe: Freight or Passage apply to-
TELEPHONE No. 113.
Jardine, Matheson & Co., Ltd,
GENERAL MANAGERS;
GLEN AND
SHIRE
Joint Service of Steamers.
U.K.-STRAITS. CHINA & JAPAN SERVICE.
Vease? "GLEYLUDE " "GLENSHANE” "ELENAVY"
PEMBROKESHIRE
YES! "GLENIFFER"
'GLENBEG% "RADNORSHME '
OUTWARDS.
HOMEWARDS.
Leaves Hongkong
1st July. 17th
24th July,
7th August
Dlsharres
5th July, GENOA, LONDON, HOLL, ANTWEET & HAMEURO, - 4th Ang, LONDON, ROTTERDAM, ÅSTWERP & HAMBURG. 8th Ang GeoA, LONDON, ROTTERDAM, ANTWKRSA Bruna, Movements are subject to change wildcri notice. For freight or further particulars please apply i
Jardine, Matheson & Co., Ltd. The Glen Line, Ltd. acarre
Telephone No. 115 ruber, 19 and 2096
Ombla addresUSA
Kamikos, Koku. Santhy's A.K.Ü. 62% 14, 134. Bossi's Codes.
KAWASAKI
KISEN
Estephens daa
(KAWAKAZI VIZANSHIP. LOJ
PAPITAL PAID-UP
NEW
President: Mr. Y. hawatari. Vice-Prident: Mr. X. MazwykÁZA. Managing Directors' Mr. Masaza AXE,
MAISHA
-de Company has, in hend alLaryo Number of
CARGO STEAMERS
ALWAYE KRÁLY FOR
descriptions. CHARTERSďa
The Sadering are comprised in the Outpany's - Florin
Eleven steamers of 9:100 tons sich deadweight;
Ast under tão Gempaxy's. MaanganaS (
iwenty steamers of about 9,100 tons deadweight eaen, Two steamers of about 6,400 tons deadweight esch Ulinging to Kawsandi Dockyard Co., Tála
Bon Cheri Kas
okker, erlieniors spoly to thes KAWASAKI KISEN KAISHA.
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