1924-01-23 — Page 3

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THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tel. Central 238, .

SOLE AGENTS FOR

"PUDLO"

Makes Cement Waterproof

"FEUSOL'

The Immovablo Fire Coment

99

THE HONGKONG DAILY PRESS, WEDNESDAY, JANUARY 23RD, 1921

2, Queon's Building.

JUST RECEIVED

A GREAT ASSORTMENT OF

EARRINGS, PEKING BLUE BEADS, MANILA HATS,

BILK LANTERNS AND LAMP SHADES..

THE SWATOW LACE CO.,

Manufacturers and Exporters

OF

LACES DRAWN-WORK AND

EMBROIDERIES.

17a. Queen's Road Central.

GREAT REDUCTION SALE

OF

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SILK EMBROIDERIES

MAHJONGG SETS

"AND

HAND-MADE LACES IVORY WARE- MANDARIN COATS

All Kinds of LADIES' FANCY GOODS.

CHRISTMAS IS FAST "AFPROACHING

Those desirous of obtaining VALUABLE XMAS GIFTS

Should, not fail to Visit

SWATOW DRAWN WORK COMPANY,

16, Des Vœux Road Central:

PIANOS FOR SALE OR HIRE.

TSANG FOOK PIANO CO.,

TIL, 2127.

94A, WANUELI Boan,

CARRERO VIDAL & Co.

MANUFACTURERS OF STEEL BARRELS for the exportation of any kind of oils.

Sale Agent for China

G. B. CABALLERO

OFFICE: 36, Ice Brtae Street.

F. O. Box €35.

The CITROEN.

The Last Word in Car-Economy

RUNNING COSTS LOWER.

Less Tyres

Lees Oll

Winger 3 years running. 1920-11-22. Grand Prix for Low Consumption.

Cars for Sale:

LEPACK CO., LTD.

15.

60-82, Queen's Rd. G.

SIR CADDIS ON THE

GOLD STANDARD PLEA FOR RETURN.

CHINESE SCULPTURE. LECTURE BEFORE CHINA SOCIETY.

Members of the China Society met in the School of Oriental Studies, Finsbury In an address to the Institute of Bank Circus, EC., on November 29th, to hear ers and the Society of Accountants at a paper by Mr. A. L. B. Ashton, of the Edinburgh, Sir Charles Addis entered an Victoria and Albert Museum, on Chineso emphatic plea for return to the gold Sculpture. Dr. W. Perceval : Yetts, standard as existing before the war.B.E.. in introducing the lecturer, said Upon the issue of the conflict, which his acquaintance with his subject extend- awung round this project, he said mighted to the best collections in Europe and depend whether Great Britain was to Americn..

issues.

regais her former supremacy as tho Mr. Ashton said it was only in com- financial centre of the world he was to paratively recent years that the exist sink to the level of a second class Power, ence of the art in China had been known, Sir Charles reviewed the pre-war gold] for Chinese criticism had never recogi standard system, and passed on to the nised it as such, but as an adjmet to question of what now were the conditions literature and religion. The advent of precedent, to its restoration. These, be Buddhism into China about the begin- said, as laid down by the Cunliffie report ning of the Christian era marked "the

between the in 115, were (h) cessation of Government division

ancient and borrowing: () the effective use of the mediaval schools is figure Sculpture. Bank of England's rate of discount: and From the earliest times to the fall of the (c) the legal limitation of fiduciary note Han Dynasty in 220 A.D., our knowledge It could not be too widely made of the subject was limited practically to known that such was the official British the bas-reliefs in the funerary art of the monetary policy. That was vital, because Han Dynasty. Owing to the influence of of the all-important paychological ele| Confucius the immolation in the tombs ment. It made all the difference whether of dead kings of the animals they had buyers and sellers abroad saw uncertainty possessed was discontinued, and if their or weakness of policy, on the one hand, stend effigies of animals and of faithful or whether, on the other, they were con- servants in stone and bronze were set vinced of the firm determination of the up. Unfortunately most of these had British people to ensure that sacrifices perished, Animal representations had, already made should not have been made! however, survived, and from these, often small objects in jade and other mate- rials.. it was found that stylized forms, prevail, and it is probable that these were preceded by naturalistic representa- tions. change in the art. Foreign influence as

The Han Dynasty marked

in vain.

CURRENCY AND TRADE. Dealing with the charge that the official, monetary policy was a main cause of the existing trade depression and unemploy ment and an impediment to recovery, Sir Charles put the question: Had any result of direct contact made itself np- substantial relation, of the nature of parent. The most characteristic type of cause and effect, been established between Han sculpture was bas-relief on stone, the currency policy and trade depression the best known serity being in the Wn It was unscientific, he said, to seek afar of Liang cemetery in Shantung. "Despite for an explanation of nay phenomenon, fine. Han animal sculpture was invested certain conventionalities design was very when there were obvious and adequate caures to be found close at hanil. The With a natural vitality due to Chinese present depression of trade had been in contact with Scythian art.

When Buddhism was established in tensified and extended by the war, but they would be wrong to regard it as China some time about the first century altogether abnormal. The fact was that, B.C it succeeded in attaining a great religious art expressed primarily in sculp- as always, the waste and havoc of war ture. This was at first a spiritual realian. made subsequent industrial boom in

tion to spread the teachings of Baddhism. eritable: there was the usual feverish by expository work. Thereafter could be activity in apeculative production. Prices traced the progress from the representa- rose swiftly to their peak in 1920. The tion of gods as remote and awe-inspir- the wheel turned It seemed to him fantastic to single out the policy of doing until the sixth century, which brought a general softening of line and when the flation ng the principal cause of warm gods were recognised as kindly spirits. ployment. Surely the main cause was Ornamentation of drapery reached an ad- the loss of their export trade, due partly vanced form, and rythmic grace charac to the impoverishment of their foreign terised the work. This was in the north. customers, and still more to the disor In the south the sculpture was heavier, ganization and unsettlement of Europe, but in the sphere of monumental animals Sir Charles then dealt with inflation as the south attained its highest point. In an alternative to a return to the gold 581 Chiua, becoming once again united, standard. In Great Britain. he said, and the sculpture of north and south prices had fallen much more rapidly than coalesced in regard to the modelling the volume of purchasing power. Bank the face. In the treatment of draperies deposits, for instance, and votes in circu- northers grace and rythm prevailed. lation wore twice as ranch, while prices With the Tang Dynasty types had become were only half as much again as they fixed, and o genuine attempt at anato- were before the war. Therefore, as everymical study began, and roundness super- banker knew, a margin of credit was still available for the revival of trade when it came. If it was true that pro duction was working up to the limit of ita present capacity to absorb credit, then the only result of inflation would be to infiate prices and speculation with out increasing production, and therefore without any compensating increase of employment. An urdue expansion of credit, which produced no increase in production, was everywhere recognized to be antisocial. Inflation was no remedy for unemployment.

THE "ISOMETRIC " THEDEY.

As regards the price stabilization" theory, Sir Charles said that there was good deal of exaggeration current about the evil results of price variation. Fluctuations in price, so long as they were not abrupt or excessive, had an economic service to perform with which

seded the flatness of earlier work. In the 9th century the classical spirit began to give way to the Baroque spirit, but in animal sculpture the Tang period was an unsurpassed. Buddhist enthusiasm was checked in 845 A.D., and religious sculp- ture began to wane: After this period cbarm took the place of nobility, conven- tionalism that of rythm, and never since" has Chinese sculpture attained the heights of those early times.

The lecture was illustrated by a num her, of excellent slides, in which Mr. Ashton indicated the features of the vari ous examples. The chairman, Dr. Yetts. thanked the lecturer, who replied briefly to the discussion, in which Mr. Paul King and Dr. Oswald Serené took part.

society could fill dispense. Ho exempli BLUE BIRD

fied this by referring to changes in prices over long periods-from 1820 up to 1896. pointing out that in the period 1974-00 the fall in prices amounted to as much as 40 per cent. In fact, business condi tions over were normal." Production. increased and decreased. At one time orders were multiplied beyond enpadly. | Ak another they dropped to zero. Oop-

ditions were always changing, but bual.. ness management early learned to accom- modate itself tor mutable" conditions, and ↑ when the changes were gradual and spread over a long period of time, they seriously interfered with tha development of trade.

never

Sir Charles pointed out how, indirectly, through the reaction of gold movements on the Bank rate, the gold standard. sarved to check indus fluctuations in the price level. In that way, he mid, it mitigated extreme variations in prices. But the proposals for "stabilization were still vague in outline. It would rei quire, in his judgment, more cogent argumenta that had yet been advanced to persuade the world of business and finance that it was wise to substitute a new and untried forta of managed cur- rency. For the automatic gold standard which had grown up with the prosperity of Great Britain, was familiar to it's people, and was suited to their practical genius:

HONGKONG, SHARE MARKET CLOSING QUOTATIONS.

JANUARY 22nd, 1924. Hongkong and Shanghai

*******$1,120 5. ..$236 b. ....167 b. H.K., C. & M, Steamboats 848 Le

Union InsuranceN

Banks for

Douglas Steamships

Star Ferrics ...... China Sugam... Whampoa Books Hongkong Lands Ewo Cottons Comenta... Hongkong Rapos Chins Providente Dairy Farmas Waterboats

Watsons. Hongkong Trams

03

$180元 108 b.

121 Ă

$241 b. $17)

$20 b

k-bugers}", amatllers; samacit.

ICE

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AND

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DEALER INN

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Ancient and Modern Successor to Nikko

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