1923-03-13 — Page 3

Page

INTIMATIONS

BUSHO-ASIATIO· BANK.

CAPITAL (FULLT-PAID)

RESERYE FUND

CAPITAL CONTRIBUTED BY TUE

CHINESE GOVERNMENT

RESERVE FUND

trie en France.

trie en France

FI

"

Roables. 55,000,000 26,960,000

Banque de Paris es de l'ays-Bas. LYNS: Societe Generale pour Favoriser le

Developpement da Commerce et de l'Indus- trie en France, NEW YORK: The Irving Bank--- Colambis

Trust Company. SAN FRANCICO: The Crocker National Bank

of San Francisco.

BRANCHES IN ASIA:

Changchun Hankow Manthouli Tientsin

Harbin Chefog

Newchwang Urantchi Hongkong Peking- Yokohama Dairen

Karbgar Shanghai. Huilar

Interest allowed on Current Accounts and Fixed Deposits. Terma on application. Local Foreign Exchange on the Principal Cities of

World bought and solid.

R. A. RODGERS,

"HONGKONG_BRANCH:

Hills discounted.

the

537]

Manager.

AMERICAN EXPRESS CO.. ESTABLISHED

AMERICA 1941, EUROPE 1891.

HEAD OFFICE:

65, Broadway, New York.

INTERNATIONAL BANKING

Eighty offices are established in the princips Lities of the World to provide commercial organisations and private individuals with a complete International Banking Service. COMMERCIAL LETTERS OF CREDIT. DEPOSIT AND CURRENT ACCOUNTS,

THE - HONGKONG DAILY PRESS, TUESDAY, MARCH 13TH, 1933

BOOKKEEPING LAW IN THE

PHILIPPINES.

THREE CHINESE MERCHANTS PROSECUTED.

..

"At least four questions will be raised in this case which all go to the invalidity of the act of the Legislature, he stated

Under the laws of the Philippine Islands a bill or act has two parts, the title and the body of the law. In this

case the title of the net is as follows:-

FINANCE AND COMMERCE

IN 1922

CHINA AND THE GOLD FRANC.

GOVERNMENT EXPLAINS ITS

POSITION.

ye-

about

The past year in. Great Britain (says The Timer) was one of gradual recovery

The following explanation has been from the profound industrial depression issued regarding the position of the Kop. Tls. The Manila Times of the 7th inst. saya; of 1981, and the period following the Government in connection with the ques 3,500,000 The first criminal complaint filed for boom" that came after the War. That tiun about the payment of the French 1,750,000 violation of the provisions of Act" 2979 full recovery has not taken place as yet portion of the Boxer Indemnity in gold

of the Philippine legislature commonly is within the knowledge of the most francs:

"Hitherto the payment of the French HEAD OFFICE:

known as the bookkeeping law, was filed casual observer of economic events; it portion of the Boxer Indemnity was, mate Paris, V. Kus Boudreau. LONDON OFFICE:

by the city fiscal's office with the Court of is, indeed, proved by the fact that thereby exchanging the Kwangping thels inte 64, Old Broad Street, E.0 2.

First Instance this morning against two

are still 1,500,000 persons without employ trants The frane was then the only currency in Francs and there was no RANKENS!

prominent Chiqe merchants in the city, ment in the country. But it is possible such distinction as the gold and the paper LONDON: Mess, Glyn, Mila, Currie & Co.

Societe Generale pour Favoriser la Chan Hung Chiu, and Chan Bong Chong. Developpement du Commerce et de l'Indus Another complaint, of exactly similar to take comfort from the knowledge that franes. Since the European War, ther

francs and the gold and the paper PARIS: Societo Generale pour Favoriser le nature, was filed this afternoon against there has been a general trade improve was a droß in the exchange rate of te Developpement du Commerce et de l'Indas-Yu Cang Eng, a Chinese with business went, that many industries, owing to the began to show difference France sacriEtes of masters and men alike, are market value. But during the past few establishment at 396, Calle Juan Luna.

of the Boxer Indemnity was postponed The complaint against Chan Hangat last placed euce more on an economic oars, the payment of the French portion Chia and Chan Bong Chong alleges that basis, and that, thanks to the auparelict for five years and no question as to the daring the time between January 1st and ed exertions of the British xpayer the kind of the French currency in which the March 3rd, 1023, the two accused were pound, as Dr. Walter Leaf shows in an indemnity should be paid as yet arose. associated in business "in the city, with

tima linis for the postponement of the a business establishment at 203, Culle informing article, is "looking the dollar By the end of November last year, the Nueva, Binondo, and that aspiring and in the eye. Last year exports were payment expired and the French Minister helping each other mutually, they nearly £14,000,000 greater in valus thanat Peking, on the strength of treaty voluntarily, illegally and criminally kept those of the year before, while imports stipulations, requested the Government their books on the business only in Chinese instead of keeping them in Eng- fell by £$1,500,000, and the reduction in to pay the indemnity in gold franes. It lish, Spanish or any local dialect. This the apparent adverso trade balance was may be remembered that in 1905, Prince £95,500,000., Production in the coal trade Ching, then President of the Board of method of keeping the books employed was restored nearly to the figure which Foreign Affairs, entered into an unders by the accused, tho' complaint further

effect that the Boxer-Indemnity-should- Blaired made it possibia for Govern prevailed before the war, and the outstanding by exchange of documents with ment agents to examine and revise the look, owing to the reduction of the cost the foreign Ministers at Peking to the books, thus placing an obstacle in the of production, is promising. The output

as compared with that of 1991, and it exchange rate in London or with draft method of determining how much tha of iron also was nearly doubled last year, be paid either in silver according to its accused should pay the way of taxes.

is clear that prospects in the irer, steel, in gold currency or in gold by telegraphic Assistant Fiscal Felix awor both

and engineering industries have greatly transfer. This implies that the creditor complaints before Judge Concepcion of improved. The rise in the value of the "ations have the right to determine in the Court of First Instance and recompound, as Dr. Leaf shows, is one of the what currency the indemnity should be mended P2,000 bail for the temporary brightest spots on the financial horizon. paid.

Hoping to lighten its financial burden, liberty of each. Chan Bong Chong and The depression in sterling, which at one Chan Hang Chiu immediately filed bonds time amounted to nearly forty, per cent., the Government at first refused to accept this morning. Upon interviewing counsel is to day only about five per cent, London the Fregch Minister's demand. But the for the accused, a Times man was in has been restored to its position as the latter firmly held his ground. He formed that the following questions would world's money market, and the weight of minded the Government of the agreement braised and given as grounds against the dollar debt to the United, States, entered into between France and this the validity of the law:-

measured in sterling, has fallen from country on July 9th, last year £1,953,000,000, the Sgure at which it stood France's willingness to remit the Boxer when the pound was at its lowest point, Indemnity Fund for the purpose of to about £850,000,000. The articles in the refloating the Banque Industrielle do Review on the United States disclos: n Chine, ele, and added that if the Govern remarkable recovery, which is illustrated ment failed to make a decision on this by the extraordinary building boom question instantly, the French Govern of last year, and by the fact that unem- ment would cancel the agreement referred ployment there has virtually disappeared.to aliove and would once more enforce, An act to provide in what languagee British Dominions and Colonies the provisions under Article 6 of the account books shall be kept, and to showed, on the whole, improving trade Treaty of 1901 regarding the payment of establish penalties for its violation."

and good harvests The experience of the Boxer Indemnity.

Owing to the importance of the matter, Europe has differed from State to State. Generally speaking, the countries which the Government referred this case to the possess greatly impaired currencies have Cabinet meetings for discussion. As a of carofu! consideration by experienced good trade and little unem. result

of the Cabinet af playment, but it must be remembered the members- that these benefits have been secured at five different Cabine meetings, they to the conclusion the expense of the rentier class and of unanimously

the Government persistently On the other hand, that if national finance.

comply with the French the countries with relatively stable car refused to rencies have had, on the whole, an as-Minister's demand," the inevitable results satisfactory year of trade, but have at ld be: (1) that the Boxer Indemnity. tained to a sounder financial position. wold not be remitted by the French "It will be observed that the title of While the depreciation of German cur- Government. (2) the Sino-French agree the bill state that the act provides in rency was phenomenal and progressive, met concluded on July 8th last year what language account books shall be Austrian currency in the last few months would be rendered nut and rod, (3) the THE KEY TO GROW RICH kept. If the title speaks the truth, its been stabilized by the putting into creditors to the Barque Industriella do must appear from the act in what langis-operation of a plan of economic reform Chine would sustain losses, while the age books of accounts shall be kept. The drawn up by the League of Nations. The Government would have to raise funds: THE CHINA INDUSTRIES act, however, does not provide in what outlook on the Continent, it must be ad- to pay off its debt amounting to eighty DEVELOPMENT BANKING language books of accounts shall be kopt. mitted, is dark, and it must remain so million franes to the bank, and (4) the It only provides that the books shall be until sound currencies are restored and understanding about the postponement of the paviment of the deferred portion of CORPORATION. LIMITED-

kept in no other language-than-English, Budgets are balanced.

thi-Indemnity Fund to 1845 would have her effect and the Government would be DUDDELL STEEXT, gives to all its Depositors Spanish or an unascertained, uncertain- able and unmentioned number of pent

called upon to pay the said portion of the Handsome Bate of Interest,

dialects. It rems that that not pro-

The third objection is on the following indemnity fund within the next five years. viding in what language the books shall

Remembering all these disadvantages, whether the local Legislature of the the Government then adopted a resolution books shall be kept in either English or Philippine Islands can compel merchants in favour of paying the indemnity in Spanish, or in certain dialects which are

the same time, neither mentioned nor whose number is to keep books in a certain language; the gold and requested the President, to

not sanction it. At CAD determined, or legally ascertainable.

compel them to abstain from also keeping French Legation in Peking gas notified of "The Jones Law has the following books in another language. This seems the adoption of this resolution by the paragraph:-

to be the real purpose of the act. For Cabinet through the Ministries of Finance That no bill which may be enacted that reason the prohibition of the law is and Foreign Affairs. The above are the into law shall embrace more than one put in the negative form. It prohibits particulars which have happened in con- subject, and that subject shall be books to be kept in any other language nection with the gold franc case. For Special Deposit... PersonalArrangement

expressed in the title of the bill."

than ete. There are many Chinese mer- For Current Savings......@ 4 For cont For Fixed Savings...Regulations Obtainable.

"The title of the bill, far from express chants in Manila, who, if the act is valid, time limit for the operation of the agree THE CHINA INDUSTRIES DEVELOP.ing the subject of the bill, in fact does will not have the least knowledge of the ment concluded on July 9th, 1923 was to not even mention it; and mentioning is condition of their own business within expire on the 12th instant. As it requires They two days. for a telegraphic message to MENT BANKING CORPORATION.

far from expressing a subject. The title one year after its enforcement of the not is clear and specific. It says:can read neither English, Spanish nor the reach Paris from Peking, the Gove.ament 'An act to provide in what language local dialects, And they are prohibited was requested by the French Minister" to THE INDUSTRIAL AND COMMERCIAL account books shall be "kept. The act from keeping any Chinese books, of notify him on the subject before noon itself is entirely wanting in all specific account. When a man is prohibited from of the 10th instant. The last Cabinet BANK LTD.

ness. It provides no language. It is only keeping the means to know what he has, meeting at which this question was con- negative in its provisions. It leaves a he might as well have nothing. Therefore sidered was held on the 9th instant," choice between English, Spanish and an the bill deprives him of his property unmentioned and undetermined number without due process of law and denies A POSER FOR THE "CHINESE of dialects. The title and the hill are in him the equal protection of the law. A no manner compatible.

The paragraph in the Jones Lat is Chinese merchant might keep a perfect found in many Constitutions of States of books of account in English, of but if he also for his own information It is not found in the Constitution of the which he perhaps could not read a word,

set of books in the Chinesa in United States Its object is, as courts keep a have repeatedly held, to avoid misleading language, he would be subject to the titles and riders to acts. In the ease now penalties of the ack. :. favour of a law as expressed in the title,

FOREIGN EXCHANGE. TRAVELERS CHEQUES. LETTERS OF CREDIT. CABLE AND POSTAL REMITTANCES. PURCHASE OF BILLS OF EXCHANGE.

Every Approved Banking Transaction. R.P. BOYCE,

1st January, 1949.

Manager.

The act consists of only two sections. It is necessary to quote the first section to show the art three questions involved.

'SECTION 1. It shall be unlawful for any person, company, partnership or corporation engaged in commerce, in dustry or any other activity for the purpose of profit in the Philippine Islands in accordance with existing law, to kop its account books. in any language other than English, Spanish or any local dialect."

AUTHORISED CAPITAL...31,000,000.00e kept: that clearly provides only that ground. It is not the question in this case

INTEREST

For Fixed Deposita-

& Per cent.

1 year

.9 months

6 months

3 months

For Carrent Account

HEAD OFFICE:

2

York Building, Chater Road Hongkong BRANCHES

Shanghai-51, Kiangse Road. Hankow.-British Concession,

CORRESPONDENTS IN: London, New York, Chicago, San Francisco, Vancouver, BC., Honolulu, Singapore, Feaaug, Tientsin, swstow, Macao, Canton and all Com, ...mmercial centres of Chins and abroad,

PROMPT SERVICE, · ·

T. H. MAL

Manager.

When in doubt a bout your eyes

or your glasses

Consult

contention is that it at least

cami

the

"It should also be remembered that the:

LENIN

IS A PEDDLER A CAPITALISTI The following extract is from an article

a Peking paper:-

The raucous peddler, reminded us of:

a conversation we had some time ago with a prominent Chinese labour leader, known in question many persons might be in "It may be claimed in argument that among his friends under the nickname Attractive rates for all kinds of Deposits that is, many might be in favour of any the Legislature did not intend to prohibit of "Chinese Lenin." In discussing the Inquiries are welcome.

one language who would not be in favour books of account to be kept in both many social problems which modern of-ar choice between two languages and English and Chinese or Spanish and tendencies have introduced in this coun- 1989)

an undetermined number of dialecta, It Chinese or some local dialect and Chinese try our Chinese friend boldly dealt with is recognised by the courts that both many But it has prohibited it." The meaning them, mostly taking his wisdom from the legislators and the public in general aro of the Legislature or of the bill must wall-worn, western books on this matter.

Society was clearly divided in his principally informed of the contents of be gathered from the words usod, and bills by the titles. It only needs to recall they admit of no other interpretation.opinion in two classes capitalists and "The fourth question arises out of the proletarians. The first class was rotten the refermera to and discussions of bills.

(naturally) and should be destroyed in the Manila nowspapera during the last second section.. few months to be convinced of the sound-

SECTION B. Any person violating the (idea) in order to give breathing space ness of this reasoning, recognized by the

provisions of this Act shall upon to the other class. It was clear in his courte in passing on queations of "titles.

conviction, be punished by a fine of not mind that as soon as a social revolution shall take place all the numerous fores of-bills.

more than ten thousand pesos, or by his country shall be bealed almost CHINESE OPTICAL CO.

"A second ground of the invalidity of

imprisonment for not more than two instantly. A third party, who remained the bill is that it is a regulation at

years or both.'-

silent up to this point of the argument Eye-sight Speci lists.

foreign commerce. Bookkeeping is

In Section one the prohibition is by a single question destroyed the Chinesa indispensable adjunct of all commerce, 67, QUEEN'S ROAD CENTRAL, Foreign commerce is entirely under the against persons, companies, partnerships splendid plan of our friend

control and only subject to regulations by and corporations. The penalty of section Lamin

"To which of your two classes," "said Congress. If you regulate the impleinesta two is inflicted only on persons. by means of which foreign commerce is criminal law the word "person" must he, will you ascribed a street peddler, carried or you regulate foreign com- have the same moaning in all parts of the who works on his own capital of a hundred merce itself. The power of Congress to law. The bow seems to be directed or no copper coins 1 On the one hand regulate inter-state commerce and com exclusively against book-keepers. If it he is 's capitalizi, owning and ung his merce with foreign nations extends to the should be argued that partnerships and own capital, but on the other hand he is appliances and facilities of commerce. It corporations are also liable then we have a labourer, having to carry his own stock included the power to legislate upon the the anomalous situation of a modest part on his own back. Most he be destroyed, capitalist, or supported and given subject of private contracts in respect to nership of two partners paying two fines, as Buch commerce, This doctrine has boon one of three, paying thres fines and reward for his former and present crtablished by the courts in the interpreta rich corporation which cannot be went to feuffering as a labourer ?” tions of the Constitution of the United jail because it has neither a body to Our Chinese friend remained silent, be kicked nor a soul to be damned", pay-and could not answer this question, Dor State

could we. Can you1' (Continued at foot of next column.)ing only one.

Hongkong.

HONGKONG WEEKLY

PRESS. CONTAINING ALL THE WEEKS

~LOCAL NEWS,

The Paper to send Home.

In

NOTICE

THE HONGKONG & KOWLOON WHARF & GODOWN COMPANY, LIMITED

TOTICE-IS-HEREBY GIVEN that the Undermentioned Cargo at present stored in this Company's Gotowas at Kowloon will be SOLD by l'ablic Auction anious Cleared on or before the 31st Instast and/or the Charges in respect thereal pail :--- **

STOKER'S NAME

LOT

B98806 French Store B40551 Kit Kee. U18912 Li Lat 015313

015314

......................

€15317

0492 Chias.Commercial Trading Co, Ltd. 30-4 C90707 020709

DATE STORED

CARGO

Sept., 1910 M cases Liquer June, 197 9 e's Glaware June, 1912 14 bags Steel Bars,

4 Files, &c.

da.

17pkgee, Flint Sand, &c.

4 c/s Photo Chemicals 3 c/ Chemicala

Aug, 19111 of Umbrella Handles

lay, 1912 1- Hats

1912

1- Singlota

1- Rubber Tyres

- Tweeds

Dec. 1918 1 c/ Hate

C20702 International Bank,... 020902 Chins Commercial Trading Co., Ltd....Oct, 1911

631068 Mitruqki & Co., C21064

C91124 Dojan Yoku: Trading Co..... Cal13 China Commercial Trading Co., Ltd.

C81134

C$1283

C91301

C21354

C33637 Yue Mow C33638 C16629 Cheung Cheong

HONGKONG, March 9th, 1923,

Jan, 1913 Glass Bottles and Corke

Fab., 1913 3

Bottles

Mar, 1913 1 case

Shirt

.Apr.

"When

pr 1919 1 c/ Stripes

June, 1919 2c/ Hats ...Joly, 1913 3 es Glassware

Aug, 1913 1 c/ Cups and Saucers ..Oct. 1912 1- Brades

..Oct., 1916 39 c/s Gum Conpal

30's Olibanum

รา

Jan. 1916 11 c/ Colours

W. S. BROWN,

NOTICE.

Fecretary.

MESSES, FINDLATER, MACKIE,

TODD & CO. LTD..

WINE & SPIRIT MERCHANTS; LONDON.

The Agency for this Old Established, and Well Known

14

Firm has been transferred from CARTERS, to JAMES H. BACKHOUSE, LTD., No. 1A, CHATER ROAD."

READY TO-DAY.

THE

DIRECTORY AND CHRONICLE

or ..

CHINA, JAPAN, BRITISH MALAYA, INDO-CHINA, SIAM, PHILIPPINES, NETHERLANDS INDIA, ETC,

FOR

1923

SIXTY-FIRST YEAR OF, PUBLICATION.

I NOW BEING 188UED AND CONTAINE" ALPHABETICAL LIST OF FOREIGN BUSINESSES, THEIR PERSONNEL AND AGENCI CLATITED BUSINESS DIRECTORY OF THE CHIP TRADE CENTRES ALPHABETICAL LIST OF FOREIGN HESIDENTS IN THE FAR ZAST. GOVERNMENT AND OFFICIAL, DEPARTMENTS. BRITISH, AMERICAN AND JAPANESE MAVIES.

AND STATISTICAL ACCOUNTS OF THE VARIOUS COVEERIES DESCRIPTIVE

TRADE CENTRES OF THE PAR KAST. TRNÁTIES, TARIFÍS, STAMP DUTIES, BROKERAGE CHARGES, POSTAL QUIDH, BT6. 15 UP-TO-DATE COLOURED MAPS OF THE FRINCIPAL POETS IN THE VAR XAPT.

1,800 Pa

1,800 Pages

Complete Edition Abridged. Edition

AX

$12 local currency

B

** EXTREMELY USEFUL”" BOOK.

Writing from Singapore," under date April 1st, 1922, Bir Godfrey Thomad, Private Secretary to HR.H. THE PRINCE OF WALES, mys:—

Sm-I beg to acknowledge the receipt of your letter of the 23rd instant and am desired by the Prince of Wales to thank you for the copy.

of the 60th anucal edition of "TH# DIEZCZORT & CHRONICLE, POR. CHINA, JAPAN, THE STRAITS SETTLEMENTS, ETO, zza," which His Royal Highness has been pleased to accept, and which will be extremely. useful during the remainder of the tour.

The Managing Director,

HONGKONG DAILY PRESS, LTD.

Ποπατάτα.

Yours faithfully,

GODERMY "THOMAS,

{Private Becretary,}}