1925-05-01 — Page 3

"DECOLITE'

FIRE-RESISTING FLOORING

(Awarded-Gold Medal Franco-British Exhibition.)

'JOINTLESS. HYGIENIC & NON-SLIPPING Eald by Our Own Workmen on STEEL, WOOD OR CONCRETE.

THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tel. Central 256.

2, Queen's Buildin

QUEEN'S THEATRE.

COMMENCING TO-DAY, at 5.15 p.m. & 9.15 p.ax.

A BIG PICTURE, FOR

OUR FIRST ANNIVERSARY

ASSOCIATED EXHIBITORS' INC.

PRESENTS

CHARLES RAY

AND

ENID BENNETT

2.

IN

LONGFELLOW'S FAMOUS POEM

"THE COURTSHIP OF MYLES STANDISH

IS REELS.

The Deeds and Days of the Pilgrims Produced Amid Thrills and Realism. The Picture that Will Live Forever.

PRICES OF ADMISSION :

At 5.15 p.m.-$1.20. 80 Cts., & 40 Cts. At 9.15 p.m. $1.50 $1.00 & 60 Cts.

"

90

THE HONGKONG DAILY PRESS, FRIDAY, MAY 157, 1925

WORLD THEATRE.

ALL SHOWS FOR TO-DAY & TO-MORROW ONLY THE MOST LAVISH DRAMATIC PICTURE OF THE YEAR GEORGE ARLISS

(THE WORLD'S FOREMOST CHARACTER'ACTOR)

WITH ALICE JOYCE AND A CAST OF SCREEN CELEBRITIES

"L

THE GREEN GODDESS

(IN TEN MAGNIFICENT REELS)

DANGER OF COLD STANDARD.

NOTED ECONOMIST'S REPLY TO MR. MCKENNA.

Mr. J. M. Kepnee delivered an addres before the Commercial Committee of the House of Commons of March 18th ou The Problem of the Gold Standard," in which he replied to Mr. McKenna's previous speech before the same, Com- mittee and contended that the audit system of this country will be a managed system anyhow."

Contending that at any rate on this oc- casion it was not the monetary reformers who were the cautious folk, Mr. Keynes asid his concrete proposal was, after all, 1b was that, broad not very alarming.

ly speaking, we should continue under the same methods and machiners of management as during the past two years, but with this difference, that we should have as our object the stability of intern al prices and the adequacy of internal credit to the requirements of our trade and industry, instead of the gradual defa-] tion of our prices relatively to those in the United States."

NEW AND UNINDEN PREDICAMENT. The new problem before the Bank of England would not be any more difficult than their present problem. On the other hand, to declare at an early date that we bound our currenes-unit irrevocably with gold was certainly rash. We should not be returning to the pre-war system.

new and should be taking the risks of unknown predicament. We should be try- ing to run a managed credit system dis- guised as a autoroatie gold standard

WHEN

BUYING PLATES"

- SPECIFY

ANTI-SCREEN PLATE.

in the totally new conditions created WELLINGTON by our indebtedness to America, the con- centration of gold in America, and the establishment of the Federal Reserve System in America, It was his opinion that a movement of gold to or from Americs which would drain or swamp us would be aloost unnoticed by them... With our industries in their presa struggling condition and employment at ta, present level, he reckoned it of the first importance that we should keep the control of our internal credit system in

*

An isochromatic Plate, giving a Fine Render- ing of Tone mad Colour Values without the use of A Light Filter On account. "of its High Speed, the Plate is quite suitable for Hand-Cainers Work, and is One of the Best All-round Plate obtainable, as it is capable of dealing efficiently with practically any subject that may prevent itself.

SOLE MANTIACTURES *****

our own handa We were not in con- WELLINGTON & WARD, LTD.

He

dition to stand shocks or storms. thought that we would make a big mis take if we exposed ourselves to them. merely for the convenience-for really it

fixed rate of ex-}· was little more-of change with the dollar. Any important change in the cost of living and the general level of prices, whether up or down, would endanger industrial penca. Every contraction of credit brought about! by the external situation and not required to check an incipient boom at home would take away from the employer, the possi bility of expanding or even maintaining the amount of work on hand.

Mr. McKenna, after defending the gold its dis- standard by pointing out advantages, had ended up in the naughty expectation that it would probably de preciate in the long run, and so give as a little inflation, without loss of He (Mr. Key- apparent respectability. nes) thought this forecast very protulle. I LEADERS IN BLINKERS.

Une who was in a minority must make politics permitted. The leaders of all the best he could of what practical three political parties bad strapped on their blinkers and decided to see nothing ahead except the gold convertibility as He claid that, our ultimate objective. whatever happened, the idea of estoring gold convertibility by allowing the rxist- ing embargo on the export of gold to lapse on January 1st next, was needlessly rash It would only serve to commit un

do to

something, advance circumstances we could not foresee, that we should not do voluntarily with our It was desirable to pass A eyes open." Bill continuing the embargo, subject to the discretion of the Treasury to remove it when they judged it wise to do so.

19

10

THE FAMOUS STAGE PLAY THAT THRILLED AUDIENCES FOR YEARS NOW COMES TO THE SCREEN. A SENSATIONAL ART ACHIEVEMENT-AN EPIC OF PHOTOPLAY.

DON'T FAIL TO SEE IT.

STARTING SUNDAY, at 6 p.m. & 9.15 p.m. FLORADORA

VAUDEVILLE COMPANY

IN THEIR NEWEST

SONGS AND

BUDDY "LOW

ALO

M

DANCES

MESSINGER BRIDGE."

HONGKONG ENGINEERING & CONSTRUCTION CO., LTD.

CONTRACTORS FOR

CIVIL ENGINEERING AND BUILDING WORK OF ALL DESCRIPTIONS.

Specialists in Reinforced Concrete Foundations and Structures for Factories, Godowns, Wharres, Bridges, Piers,, &c.

Sole Licensees for Hongkong and China of the Franki" Patent Compressed Concrete Piling System.

Enquiries to HEAD OFFICE

ST. GEORGE'S BUILDING CHATER BOAD

Telephone Central 4581 (Two Lines).

PIANOS FOR SALE OR HIRE.

TSANG FOOK PIANO CO.,."

Tr. 4648

No. 8, Das Faux: BOLD CENTRAL(Entrance Ice House Street)

78

AMALGAMATION OF NOTE 185URA,

ELSTREE, ENGLAND. SOLD BY ALL PHOTOGRAPHIC DEALERS.

1111

HONGKONG SHARE MARKET. CLOSING QUOTATIONS.

Argi 30TH, 1925. Hongkong and Bhanghai

$1,325 h Bank Canton Insurances............$7.5 b. Union Insurances271 b. Hongkong Fire Intrances...3665 nom. Douglas Steamships...

Star

C. & M. Steamboats?.199) b.

$36 b. Farias.

Chine Suga

(combined) Kowloon Wharves Wampos Docka...

New Engineerings....... Hongkong Hoagatates.

Hotel Humphreys Two Cotton M... . Orientals .........and e-m Cementa

Hongkong

Bopea

M

Tly. 254 now.

12

$120 nom

Tl. 127.

Hope or Curiosity

I think sometimes the word "curiosity is just another name for "hope.”.

You might fancy that it was curiosity that made you smoke your first Kensitas-no, sir, it was really hope, the hope that you would find Kensitas a really good cigarette, better than the kind you had been smoking.

But it is a fact, air, that after you smoked that first Kensitas and experienced the cool, rare old blend of prime Virginia you continued to smoke Kensiras, because you found that Kensitas ara.....as good as really good cigarettes Can be."

Kensitas

Manufactureve!

the preferred cigarette

J. WIE & SONS - LTD - 17444 PICCADILLY - LONDON -W. * - ENG. Whokamala muky: DONNELLY & WHYTE, Distribubara far Hongkong and Sonth China, 2 QUEEN'S BUILDINGS Telephone: Central AK

Jinkyn

Obtainable at Lane, Crawford, Ltd. Tabaqueria Fülpina, Graeco-Balika

Tobacco Stars,

and all high-class Tobacconists

At 95 cents

per tin of 50

93

THE CORONET

Friday to Monday, May 1st to 4th.

The Comedy Hit of the

||

Season !

"WELCOME

STRANGER "

Another "Potash and Perlmutter." Usual Prices.

M. Y. SAN & CO., LTD.

THE SIDE UP WITH GRAT

MANUFACTURERS

or

$204

7,390 b

BEST YOUNG STEM GINBER

BEST PRESERVED

STEM GINGERTM

Chins Providenta (combined) Hex div. Dairy

$27 b.

Waterboats......

$17! nóta.

Watsons

$23 b

Hongkong Electrics ....

191 nom.

in

China Lighte

$372 Ba

Honghong Tramx.........

..5

Peak TramwaY'S

...

BOUL.

b

b-bugers; 'i—sellers; sa—iales.

AUSTRALIAN APPLES.

Sir Joseph Cook, High Commissioner, To return to convertibility would pro- bably involve the amalgamation of the formally launched the new Australian currency note issue with the Bank of apple season in London on April ist whea England note issue. It would be well to he opened an exhibition of Australian get this question out of the way before apples at Australia House. The new touching the embargo. If this was done, son's fruit was attractively displayed the future convertibility of the

in the exhibition hall, and was regarded note should be fixed, not in terms of as of particularly high-grade quality. sovereigns, but in terms of bullion. That The High Commissioner, in opening was to say, the Bank of England should the exhibition. stated that this year's be liable, not to cash individual notes Australian apple crop was estimated at 1a sovereigns, but to provide gold bul: approximately 1,750,000 cases, of which Jioa against notes in amounts of not approximately 1,155,000 would come from This would Tasinania and 410,000 from Victoria less than £1,000 at a time.

ABSU avoid any risk of the return of sovereigns. This represented an advance of nearly

He also ad 250,000 cases on last year's crop. into active circulation. vocated that the right to end gold to lag. he said. 130 apples to a case, that the Mint should be restricted to the meant about 997,000,000 Australing up Bank of England, and that the Bank's plex would be eaten by the people of price for gold bullion offered by impor. the United Kingdom between then, and ters should be left to the Bank's dis- the end of August-equal to five per bead. The Australian apple trade represented cretion.

Being an impenitent economist, he a brat-rate example of the Coué method would still be dissatisfed at the slow! As applied to commerce-every year in Dess of our statesmen to adopt the real, every way it grew better and better. tures which lay to their hand for some of our present evils, but if he was an industrialist, he would, if these sugges tions were adopted, look forward to the near future with less "anxiety.

Heplying to the points raised in a dis cussion which followed, Mr. Keynes said

he thought the cause of the "onward

The exhibition, which included pineap ples from Queensland and other fruits, was attended by the Agents-General of the Australian States sud representa. tives of the fruit trade.

Too much is taken out of British trade!

sweep" in America to which he had re-and commerce by people who put absolute

ferred in his speech us the reason for ly no service, into them-fr. f. B.

the

rapid absorption of their unemploy-lynes, MP

ed was the immense national expansion

that was going on, and among other

causes the fact that they had severely restricted immigration. A s cent.

per

He thought the 5 per cent Bank rate

was useful, he would not say helpful.

Bank rate would be almost disastrous. It represented the facts and was not

He had no doubt that the change between the dollar and sterling, banks would evolve a system to prevent

to the question of stabilizing oppressive.

there

was no doubt that the United violent oscillations. States wanted us to go back to gold.

He believed that a wise policy of manag- and would do a good deal to facilitate ed currency might make all the difference that operation..

HISTORIC CAUSES.

FR6

to our volume of unemployment. There no doubt, however, if we decided to resume the gold standard that we could "Replying to the suggestion that the see it through; we had a certain amount long value of gold was always in of gold, we had credit, and we had cer- downward direction, Mr. Keynes said tain borrowing facilities in America there was no law of nature operating which, however, he would be sorry to see in that direction. Whether it went up us use. It was not a question of the possibility of doing it, it was a ques

ur down was due to historic causes.

(Continued at foot of next Column.}

tion of the wisdom..

MY.SAN &

MARE IN HONGKONG

HEAD OFFICE No. 8 to 100 Queen's Road Central FATNEY: Canton Boud, Kowloog.

Brandums at: Manila, Singapore,. Shanghai, Canton Chilan

SIMPLEX PLASTER Co., LTD.

WE HAVE PLEASURE IN ANNOUNCING THAT WE HAVE OPENED A DÉPARTMENT FOR

ORNAMENTAL FIBROUS PLASTER WORK UNDER THE PERSONAL DIRECTION OF PROFESSOR CIRO TAVARELLI. TENDERS SUBMITTED TO OUR OWN DESIGNS, ÓE TO THE DESIGNS OF ARCHITECTS. QUOTATIONS FREE OF CHARGE,

APPLY TO THE

SIMPLEX PLASTER CO. LTD.

TXL. C. 3749.

72

2ND FLOOR, POWELL'S BUILDING,

PERFUMERY

Manufactured by

BIGAUD, PARIS;

AIRE

ENRALZAMADO".

•MANY GANDEN**

• HORA QARIFORAS

**DULOS- MIA MĒTAS TIGAUD"

Obtainabis from

VICENTE ATIENZA & Co

No. CA, HATHAM Ha, Kevisca, TIL K. 155

(113