1923-04-06 — Page 3

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THE FORD 1-ton TRUCK

The Low Price and Cheap Costs of Operation and Maintenance make the Ford 1-ton Truck the Cheapest Form of Commercial Transportation in

China.

SOLE AGENTS :

THE

ALEX. ROSS & CO. (CHINA), LTD.

Bank of China Buildings. :

Telephone: Central 2487.

BRIMFUL OF ENERGY

Two of the main reasons why so many people are lacking la energy are imperfect digestion and constipation. If your stomach and liver are not doing their' work effectively your system will not be properly nourished. If your bowels are irregular a'certain amount of waste matter will be retained in the system which will adversely affect the purity of the blood. Now, Beecham's Pills have an excellent effect upon the digestive and eliminatory organs and exercise tonic and energising Influence upon the system generally, If you would be healthy, energetic and, cheerful you should take a few doses of this reliable medicina.

BEECHAM'S PILLS

-FIRST QUALITY-

English Varnishes

FOR

HOUSES, SALOONS OF SHIPS, RAILWAY COACHES, MOTOR CARS, FURNITURE, LOCOMOTIVES, etc, etc. MANUFACTURED BY THE

Oldest Firm of Varnish Makers in the World.

FULL STOCKS at our HONGKONG BRANCH.

WHO

Wilkinson, Heywood & Clark, Ltd., Incorporated in the United Kingdom) ALEXANDRA BUILDINGS, HONGKONG.

"PHILIPS

APHILIPS LAMP

Is A PERMANENT

ECONOMY

SOLE AGENTS

Holland China Trading Co Hong Kong

HONGKÒNG DAILY PRESS,

APRIL 6TH, 1983.

the British Government

paid to the United States 3 per cent. Consequently Great Britain assumed two- thirds of the obligations and the United States one-third. It was true that at the end of ten years the nominal interest paid by Great Britain increased to 31 per cent.p ia tha but there was little doubt minds of financiers that before those ten years had expired the British Government would be able to refund thous

basis of

ANGLO-AMERICAN "AMITY. THE RECENT, DEBT FUNDING. A warm tribute was paid by the Pilgrims of Great Britain to Mr. Stanley Baldwin, Chancellor of the Exchequer, on February 28th, in recognition of the dis tinguished part he has taken in the settle ment with America of the funding of the British debt to the United States. In honour of the right hon. gentleman they

obligatious upon 1. B gave a banquet at the Hotel Victoria, at less than 3 per cent. "If she needs any which the Prince of Wales was presoat 1 help in doing so she knows where to apply," a member of both the British and American he added. The United States mande no Pilgrims. The gathering, numbering about claim that this adjustment was magnanimous 300 guests, took place in the King Edward on their part, but they maintained never- VII. Hall, and was representative of the theless, in the words of the chairman of diplomativ, financial, commerical, and their Debt Commission, Secretary Mellon, Lord It is just and fair, and might eren be political life of the community. Desborough, chairman of the British considered generous." In conclusion, he remarked that Great Britain could not Pilgrims, presided.

have sent a truer representative of her own sturdy character than Mr. Baldwin. (Cheers.)

GREAT FINANCIAL ACHIEVEMENT.

01

SNE

met, and we all rejoice that has been lone." (Ohoera)

The American Ambassador, in proposing

Sir Robert Horne, supporting the toast,. the health of the Chancellor of the Exche- quer, said they were met to celebrato a said the settlement might well be satisfac- great achievement. He did not think he tury to the people on both sides of the exaggerated when he pronounced it the first Atlantic. It was true that we should be conclusive settlement of a really vital world required to endure for many years to come a problem since the Armistico. (Cheers.) It very great burden of taxation to meet our involved far more than the greatest finan-obligations, but we were discharging an cial transaction recorded in history. It obligation with good faith and honour. bore with it the enhancement of matual (Cheers.)

**A'FAIR: SETTLEMENT:" respect, and he firmly believed the everlast- ing friendship of the two great nations to Responding, the Chancellor of the Ex- which the entire world looked for the pre- chequer said they could not have had to servation of the solvency and stability deal with men more competent, more fair, which were essential to the prosperity more straight, and more desirous of helping and happiness of all mankind: (Cheers) to an honourable settlement than the The task which confronted those: in

American Debt Funding Commission.

kill positions of high responsibility was one of (Cheers.) He claimed. appalling magnitude. The undertaking a negotiator, and said they were forta- could not have been regarded in any other nate in the circumstances of their arrival, light than that of a devastating failure if and the time at which they had to negotiate the agreement had not won the approbation" I would only say of the debt," he and measurable satisfaction of the millions continued, that we stand in this country, of people who comprised the British we always hare done, and as America Empire and the American Republic. That stands, for the sanctity of contracts. object had been attained. The virtual (Cheers.) We have concluded with unanimity manifested on all sides in America the first settlement since the Great Britain afforded eloquent testimony peace, and one of the greatest nego iations of relief, oren of joy, that the United in the history of the world. (Cheers.). We Kingdom continued to rest upon a rock are glad to have done it. We have made of financial integrity and of national a fair settlement. We have been fairly honour. The assertion had been made, and quite commonly believed, that the United States refused to make these huge advances to the other Allies unless their repayment should be guaranteed by Great Britain. That was not the fact. Great Britain was never asked to guarantee-and never did guarantee the payment of a single dollar loaned by the United States for the use of any country other than Great Britain herself. Indeed, taking into con sideration the circumstances that so great mass of materials was necessarily. transported by British ships and through England, the United States affirmatively and voluntarily gave a pledge that Great Britain should not be bold to account for any portion of supplies delivered to her representatives for transportation fo, or ultimately used by, any other Ally.

The Ambassador related how the United" States advanced hundreds of millions of dollars to Creat Britain, which enabled her to discharge her present obligations and to maintain her waning credit. The United States not only took over the obligation, but released to the British Government a huge amount of bonds and shares of the highest class which had been held by their banks as security for the loan. "Surely," he observed, the ask ing of repayment of such a loan could not rightfully be regarded as the act of a Shylock demanding his pound of flesh. Bat I have heard it said that if Great Britain had not loaned to the Allies abe need not have borrowed from the United States. Undoubtedly that is the fact. But is it not equally true that, if we had not loaned £850,000,000 to England we would not have beca obliged to borrow $4,000,000,000, which we still owe, and which, of course, we must pay?

4

If there was one thing that the world needed to-day more than anything else, it was that the two great countries of the United States and Great Britain should understand each other and know - and appreciate each other. (Cheers,) Bat if there was one thing that constituted a bar to that knowledge and appreciation, be sometimes feit it was the fact that the two countries #poks the same language. (Laughter.) And from the vary fact that they spoke a common language the average Englishman feels that he knows America and has nothing to learn from her. It was essential that the two peoples should learn more and more from each other by personal contact. (Cheers.) They beard sometimes in America that Europe was not at pains to set her house in order and that she was militaristic; and that, such being that case, Europe was not worthy of America's help and sympathy. But it seemed to him that America sometimes failed to realise that Europe was a very old world and was an ancient Continent filled with peoples of different origin, diferent blood, different language, and different aspirations and ideals. In conclusion, the Chancellor paid a Warm tribute to the generous advice and assistance of the American Ambassador, which had so largely contributed to the successful issue of the debt-funding negotiations with the United Staten.

U.S. SHIP SUBSIDY. &

BILL SHELVED BY SPEECH ON

AMERICA'S WAN CONTRIBUZION. "That is what we did, what we had to do. And simultaneously we borrow. ed, and loaned to the other Allies $6,000,000,000 additional, upon which we have not received and are not likely to receivo immeditely a penny of interst, while and

TUT-ANEH AMEN. -

For four days, opponents of President Harding's Ship Rubeidy Bill wasted the time of the Senate recently with a flow of talk designed to prevent the Administration leaders from bringing the Bill to the vote.

There is no time limit in the Senate in the House of Lords, no rule,

to the

still ourselves paying, at the rate of 4 per that speeches must. When ben

cant, considerably more than $250,000,000 subject under discussion

a year. Incidentally, while borrowing the obstractioniste resolutely continued to these huge sums, we were commandearing speak on such themes as the deflation

methods of

who was King Tut-ankh through taxation from our people for our

represented as taking. his trassurées to his own participation Tantly more. It is indeed tomb and keeping them there 3,500 years, an interesting fact that, if you take into Senator Cartin, the Republican Whip, went account our inevitable pensions, you will to the White House and salted the gasent discover that the cost in money of the of Mr. Harding to withdraw the Bill. Great War to the United States and Great

Britain was about the same, approximately. £10,000,000,000.esch.

CLOSING QUOTATIONS.

Hongkong and Shanghai

* Banks

Canton Insurancen. Union Insurances..........

"A few more misapprehensions I must, HONKGONG SHARE MARKET, injustice to my country, remore. It has been sald that we singled out and dunned Great Britain. We did neither the ons nor the other. The ex- piration of the throe years during which we had agreed to bear the entire burden was approaching, and on the same day our Government gave notice to all our debtors to that effect. Every lender and borrower in this room knows that this is no more than the customary preliminary to payment or negotiation of terms. One or two ap peared in Washington and talked about the weather. Great Britain arrived and talked business. The outcome was a completed settlement of this greatest of financial transactions in less than a month." The British Cebt was costing the United States more than they owed Great Britain. Although as A result of the settlement Great Britain and the United States noccararily rowed in the same boat. the two creditor nations, the United States had not the lightest intention of ruining the credit of any other countries by cancelling their debts. (Laughter.) He declared that the Pritish debt was costing the United States 47 per cent, and under

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The 103 k *Tia: 2074

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AL

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WEDNESDAY, 4th to SATURDAY, 7th April.

9 p.m. Only.

STASIA NAPERKOVSKA

The Beautiful Actress

ATLANTIDE (The Queen of Alantis).

12 parts.

PRICES:-$1.50 AD $1.00.

Soldiers and Sailors'in Uniforms only Half Price to Stalls.

DRUGS

6.15 p.m.

UNIVERSAL SPECIAL ATTRACTION.

CARMEL MYERS

IN

THE

MAD MARRIAGE

BOOKING AT THEATER

USUAL PRICES.

PRESCRIPTIONS

When the Doctor prescribes expects the Druggist to fill prescription with Pure Drugs. The quality of our Druga, Medicines and Toilet Goods is not suLFORMING Have the Doctor's Prescrip filled here and the result aatisfactory

THE

PHARMACY,

Tas Red BoILDING (OPPOSITE TOE Hair Se

YE OLDE PRINTERIE

LIMITED.

11.

(SUCCESSORS TO PRINTING DEPT. HONGEONG PRINTING PRESS) 18, WYNDHAM STREET.

COMMERCIAL PRINTERS AND BOOKBINDERS.

PRINTING AND ACCOUNT BOOK MAKING OF EVERY DESCRIPTION DONE WITH ACCURACY AND PROMPTNESS. ALL WORK DONE UNDER THE PERSONAL SUPERVISION OF THE MANAGER *Phonò 3787.

7. C LABRUM.

AILSA CRAIG

MARINE MOTORS

"A first-class British-made Motor at a reasonable price.

"

1 Cylinder to 6 Cylinders.

4 B.H.P. to 50 BHP.

Prices and particulars from

BOLE AGENTS:

DODWELL & CO., LTD.,

Machinery Dept.

Telephone C. 1080.

ASAHI BEER

SPECIALLY BREWED FOR EXPORT

DAI NIPPON BREWERY CO.

LIMITED.

JOKYO, JAPAN

BOLE" AGENTS

MITSUI BUSSAN KA ISHA

HONGKONG.

LTD.