1929-05-22 — Page 1

Page

MASON'S

DELICIOUS

O.K:

SAUGE

Hongkong Bally

Hongkong Daily Press.

No.22,103號叁零百登仟弍萬弍第日拾月肆年巳己

KOWLOON-CANTON RAILWAY.

TIME TABLE.

On and after April 8th, 1929, until farther Notice (all previoza- Time Tables ancelled.)

UP TRAINS

STATIONS

3.10

A.M.) 4.3.

1.1.

•

Kowloon.Dep. | 6.40] 8.06|

Yarmati.Dep. 6.49

Shatin... Dop | 7.01)

Talpo Dop. 7.15

Taket. Dep. 2.20- Fanling Dep. 7.30

Sheung

shui........Dep. | 7.35

chun...A.7.41| 8,43]

Shum-..

Canton...Arr.

18.05)

Hung, &'Holis. only

20,0,13 No, té No. LA No.23 Mal5}X6,54%ə,XİN«.36 *A.M. | A.M. ↑ P.M. | 1,1C, P.XFX, PE PILĪ KM.

8.30 9,15 10,00 12.10 1.18 2.81 8.30 4,80 5,40 7.35

9,25 10.08 19,19 1,23

9.88-10.30/12,80: 1,85

953 10.83 18,43 1.48

5.04 6.188.06

4.38 5.48 7.43 -4.50 6.00 7.55

9.58.10.87 18.47: 3,59 — 10:10 10,47,12.07 2,02|

5,096.178.18 5.186.37 8.32

9.07 10.15 10.55 1.02 1.078.08j

5.23 3.83 8.26

9.13 10.21 10.58 1.08 3.13 3.15 403| 5.29 138 8.31

5.48

DOWN TRAINS

STATIONS [Bo'l

Ma, J❘ No. 7

16.

A·M. A.M..

Canton Dep.

Shumchun...Dep. 7.17 8.03 1034

Shengrani Di

Fanling...Dop.

7.95 8.11

7.90

8.15 10.47

Taipo Market. Dep. | 1,40 8.26 10.37 Taipo ...Dop. 7.44 8.31 11.01 Shatin ...Dop. 7.57 | 8.44 11,14

[7.181 --

No.11 No.17 No.10 No. 12/Mo, 13 | Hom

FM. P.M. PAL P.M. 1.X.

3.25

8.10

11.37 11,47 2.53 4,39 | 6.47 5.43 7.07

11.58 8,01 448 3.34

7.14

Yaumati Dep. 811 8.56 11.26 Kowloon Arr. 8.17 9,04 11.33 12,07

11.00 3.08 4.50 638 14.11 8.17

118 8.23 5.04 6.13

5.00 8.08

12.308,365417 6.28 12.43 8.43 5.29|6.38 19.48324 5.85 6.44 7.22 7.49

*For First Olam Pariengers ONLY. WILL STOP AT ANY STATIon of Request

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HONG KONG, WEDNESDAY, MAY 22, 1929. 叁拜 日弍廿月伍年九廿百九仟登英

TEN YEARS OF RECONSTRUCTION

IN EUROPE.

TARIFF DISLOCATIONS AND RECOVERY FROM WAR

EFFECTS.

MONOPOLIES, COMPETITION AND INDUSTRIAL PROBLEMS.

SIR ARTHUR SALTER'S

LECTURE AT MANCHESTER.

suffered more in the bad years fal- the existence of excessive and un- lowing the war.

Sir Arthur Salter recently de- livered the Ludwig Mond lecture in Manchester, his subject being "Ten

Disorganisation of War. Years of European reconstruction."

Despite the immense disorganisa-

Turning again to the European tion of the trade of the world caused situation, Sir Arthur Salter said by the war, he said, the recovery that we had to remember that the since bad been distinctly good serious thing in the war was not And yet we had to remember that so much the destruction of wealth the disorganisation of the at one time it had been doubtful 45 as to whether our civilisation would economic life of the countries in recover from the destruction and volved. The wealth which war des demoralisation created by the war.

troyed in the war was created ur Happily that danger had passed; ing the war, and our economic it was now clear that if our civilisa- troubles had been due to our in tion perished & would not be the ability to make use of our resources. result of the last war but the result Dur recovery from this could be of some new folly. In fact, one

divided into periods. There was the could say that despite the destruc-period of 1910 to 1990; it was a time tion between the years 1014 and of emergency and grises which gave whole was us little light or guidance as to wait 1918 the world as actually richer than it was before was really wrong with the world. the war,

stable trade barriers.

Think

Sir Arther Salter added: of the small units of Europe, esch with its separate customs regime, seven thousand more miles of Cus toms frontier than before the wan Picture to yourselves, all along those frontiers, at every juncture of every railway line, at every cross- road of every frontier route, the army of Customs officials enforcing those tarifs. Then think of the intricate system of tariffs enacted in the legislatures of those different countries, tariff systems that have developed in a typical case from, say, 1,500 items to possibly four or five thousand items: with all these classifications based, as a fur- thor complication, upon a varying nomenclature, one thing meaning Several countries bad not enough one thing in one country and an- Striking Progress.

food; there were not enough ships other in another. If you think of There had been an increase in the to carry the food when it was avall. the cumulative effect of all these able, there was a shortage of coal. | factors apart from the actual weight productive capacity of the world, and But after this period of emergency of the tariffs will you not be also, regarding the world generally, several difficulties came into pro- amazed, as I confess that I am the standard of living was higher.minence. First of all there was the amazed, that international trade In. North and South America, in the British Dominions, in Africa, in question of war debts and repara- goes on at all! But it goes on. If Barriers Ware Down, - Asia, the rate of progress had been tions. The difficulty of settling the striking. On the average, Europe was connected allied debts, prevent takes a long period, to an increas reparations-question, with which

"It goes on on the whole, if one had now just about come to the ed the recovery of the world, since ing extent, and from that great and, point we had reached in 1914, capital could not fow easily. Next think, very remarkable fact in con- though actually in England we were there was the currency questionjunction with the complexity of the probably a little poorer, Sir Josiah the years 1921-nad 1923 the u Stamp had estimated that the real rencies of Europe it a great deal barriers, I draw two conclusions. income of the United Kingdom was of their value, and this disorganist. First of all, that if only we could 5 to 10 per cent. lower than it was tion in the finances of so my should gain enormously economical. reduce economic nationalism we immediately before, the war,

companies caused good many There were several reasons why observers the greatest alarm. The secondly, that the intrinsic this country had relatively lost since League of Nations realised that it economic advantage of international the war in comparison with other was absolutely vital to put one trade (since after all, it is all on countries. One was that we were

country after another on a sound a voluntary basis and nobody burdened with a very great and a

financial basis, and acting on this engages in it. if he doesn't think it very heavy war debt, with corresit managed to restore the finances pays him) must be enormous. ponding heavy taxation-the highest of Austria and Hungary and later

Sir Arthur Salter concluded by taxation in the world. A second of Bulgaria and Greece. That had saying that if we had war in the reason

economic been an example to the rest of future, if the machinery we were system in this country was very Europe: it had been an encourage would not fail because of the cap- erecting against war failed, it inelastic, more inelastic., than in

ment, and ore country after an- other parts of the world. The re other began to move along the dif- rices and follies" of autocratic monarths; it would not fail because sult was that whereas other systems Scult road of financial stability. answered fairly readily to change,

of the different rivalries of religions: our own was inclined to more slug-

it would not, he thought, ultimately gishly.

Sir Arthur Salter added that he fail because of political grievances This inelasticity was obviously a was convinced the Dawes Plan of or ambitions. Ultimately it would avere handicap when rapid adjust" 1924 would have been impossible, be economic conficts "that would ment to new conditions had been at least at the time had it not cause the damage. The foots of our more necessary than at any other been for the League's success in trouble were coal, oil, iron, the time in our history.. It had been Austria. But the League was then ambiguous and amphibious" pro- made worse through the shortage of faced with a still more obstinate duct nitrate, and so forth. These houses, which made the movement trouble in the new trade barriers. were the real dangers to the pesco of workmen from one district na The existence of national izrififf"häd · of the world in the future; or per- other a difficult matter. Moreover, been enormously increased during baps it would be truer to say it there was the general conservatism the war, and it was to consider this was the provocative policies which of the country. But, quite apart whole question that the great were being and might be adopted from that the existence of large World Economic Conference of 1927 by Governments to control or direct monopolies in one form or another was called. That conference, whose them from which dangers would re had prevented competition working members were appointed by fifty sult. What was wanted was a real as easily as before the war. There Governments, came to the concia-study of the problem, the education was, however, in addition to these sion unanimously that taking the of the public. to bring about some two reasons why this country had world as a whole the chief remov-thing like a code of principles that relatively lost since the war, the able obstacle, the chief remediable would guide the action of govern fact that England was a great ex- ovit which was limiting andments as regards economic competi. porting country and had therefore diminishing world prosperity, was tion in the world

Was

that the

P

✓

League of Nations Work,

Diary of Coming Events

To-day. (May 22.)

H.K. Tug and Lighter Co., Ltd.: 6th ordinary yearly meeting, St. George's Building, 12.15 p.m.

H.K. Tug and Lighter Co., Ltd.: Extraordinary general meeting, St. George's Building, 12.30 pm.

China Coast Officer's

Guild, Ordinary general meeting, Guild Office, & gitu.

Victoria Recreation Club, Annual general meeting, V.R.C., 6 p.m.

Comedy Co.: The Best English People Theatre Royal, 9.15 p.m. Queen's Theatra The Port of Missing Girls"

World Theatre: "The Awful Truth (at 15 and 9.20) other houses, Chinese picture "The Girl General."

Star Theatre: Ramshackle House."

Tea Dances: H.K. Hotel and Peninsula Hotel, 4:30 pm,

Dinner Dance: Peninsula Hotel,

hursday

May 2.)

Canton Insurance Office Limited: 45th Ordinary general meeting, Jardine, Matheson's Board Room,

*DOOL.

Wah Fan College: Prize giving, 5.15 p.m.

English Comedy Co.: "The Ringer," Theatre Royal, 9.15 p.ža.

Queen's Theatre: "When a Man Loves

World Theatre: "Body and Soul" (at 5.13 and 0.20) other houses Chinese picture "The Girl General” Star Thestre:"Another Scandal." Tea Dances: EK. Hotel and Peninsula, Hotel, 4.30 pan. “

Dinner Dance: Península Hotel, 8.30 p.m.

#

Еигореви Mail:-Inward: Europe vid Suez (Rajputana).

Triday. ..(May 24.).

Empire Day."

Christian Fellowship Meeting: Helena May Institute, 10.30 a.m..

Union Insurance Co. of Canton, Ltd, 58th Ordinary yearly meeting, Jalan Building

China Fire Insurance Co., Ltd., Queen's College: Boxing Tourna 60th Ordinary yearly meeting, ment, 10.30 am.

Union Building,-11.15 am.

P.I

}

British Trader's Insurance Co., Ltd., 23rd Ordinarly yearly meet- ing, Union Building, 11.20 a.m

English Comedy Co.: A Cuckoo in the Nest Theatre Royal, 9.15

Queen's Theatre: "When &

Mun Love/

World Theatre: "Body and Soul" (at 6.15 and 9.90) other houses Chinese picture The Girl General" Star Theatre:"Another Scandal." Navy League Film "Keep Watch," Queen's Theatre, 5 p.m.

Tea Dances: HiK. Hotel and Peninsula Hotel, 4.30 p.m.

Dinner Dance: Peninsula Hotel, 8.20-p..

European Mails:-Outward: "Europe"""vid"" "Siberia (Rajputana),"

8.30 am.

Baturday. (May 25) Lawn Bowle Division 1. Kow loon Bowling Green . Civil Ser- Police, vice, Craigengower it v. Recreio v. Kowloon Docks, Taikos Kowloon OC Division IL: Givál Satxion maps Craigegraw Hong Kong Electric r. Taikoo, | Yacht Club Kowloon Bowling Green, Kowloon O.C. v. Recreia

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