1930-04-17 — Page 7

CHINESE BANKERS GIVE ADVICE.

EFFECTIVE ALIGNMENT \OF CURRENCY WITH SILVER."

DOLAR STABILISATION - NOT

EEMED DESIRABLE,

We Ave received from the Cur-

CORRESPONDENCE.

MORE ABOUT THE CUR- RENCY PROBLEM.

THE HONG KONG DAILY PRESS; THURSDAY, APRIL 17, 1930.

To help the Committee of Inquiry and the public to form an opinion oi the question of premium on bank- notes I shall, therefore, be glad to lend a printed copy of my lecture on "The Currency Problem" to the local papers for publication, if TO THE EDITOR OF THE HONG KONG they will kindly notify me to this

"party ruEss."]

Six-Of all the questions yet investigated by any Committee ap- pointed by the Government, this is unquestionably the most important,

|

effect.

Personally speaking, I have very little desire to deal again with the earrency problem, and I must state that I am duing so now on the re- commendation of several of my

ECHO OF STRIKE

OF 1925.

MAN STABBED FOR NOT LEAVING HIS POST..

·BUTCHER RECOGNISED AFTER NEARLY FIVE YEARS.

A stabbing affray in 1925, during the General Strike in Hong Kong,

ROUND THE COURTS,

LOAD TOO HEAVY FOR ·

CHILD.

A tummons pertaining to child labour was heard by Mr, Whyte- Smith at Kowloon Magistracy yes terday, Sub-Insp. Chorter-Woods prosecuting on behalf of the Police. The defendant, Tam Pan, of the Hop Lee Tinsmith Shop, of 372,

allowing Yeung Saling, aged 12, to carry a load of over 40 catties, namely, 67 catties, which "weight was unreasonably heavy in respect of the child's age and physical development.

rency Committee the following comin that it will have a far-reachlay friends and particularly Mr. Wong had ita sequel ng Mr. A. W. G. H. Shanghai Street, was summoned for

munique

4

effect on the Colony's economy. The arnd meeting of the Cur- That the question hristles with rency Comittee was held on well-nigh insurmountable complexi- Monday, th 14th of April, 1030. ties none who really understands Mr. Shot J. Chen, Mannger of the subjust will deny, inasmuch as the Bank of China in Hong Kong, the recent farther addition made was present and nid before the by the Government of two Chinese "meeting a memorandum embodying | gentlemen" to the eight forming the the views of he Hong Kong Chinginal Committee clearly bears nese Bankers' Association on the cut the assertion; while, to quote questions at issip as set out in the one local newspaper, "no Commit. terms of referetge.

Kwong Tin, who only yesterday Grantham's Court yesterday when advised me to give my views; while a Chinese butcher was charged Mr. C. A. da Ruza, too, told me

with unlawfully and maliciously sometime ago that I should write to the Press on the currency pro-wounding one Leong Lin Shing with blem, aiuce I was, he said, so con- intent to main or disable him or versant with the subject-Yours,

etherwise cause him grievous bodily J. M. XAVIER.

Larm.

"Kowloon, “April, 16.

etc.

A KOWLOON COMPLAINT.

Sin-As a resident of Torres

tee of Inquiry which has ever been [TO THE EDITOR OF THE "HONG KONG

DAILY PRESS."] In the opinion of the Hong Kong appointed in the past has been Chinese Bankers' Association the charged with a more important task present currency situation in the than the body now chosen by the Colony is unsatisfactory because Government to report on the cur (a) of the flucuations to which the jrency problem." standard of alue on which it is based is liable (b) of the premium which noter command over silver dollars in exchange, and (e) of the fart that the current tender has

not

1. Outlining the case against the defendant. 3. H. Somerset Fitzroy, Assistant Attorney-General, stated that the victim of the affray was in 1923 a batcher and the necused also followed the same oc- cupation. The accused were amongst those who went on strike, but the

Buildings. Kimberley Road. Kow-victim was a strike-breaker. toon, may I, through the medium of your paper, draw the attention of the authorities concerned to the present disgraceful condition of Kimberley Road. The half of the road immediately outside Torres Buildings is at present nothing but

bed of rough, loose Rtones, and has been for the last four or five days, and no attempt of any kind seems to have been made to com- plete the repairs.

Following so closely on the Gor- ernment's appointment of a Com- mittee of Inquiry into a question thui is of such great moment to this Colony, it is must gratifying to one form but several. The learn of the recent publication of remedy, necordng to the Associate report of the Kemmerer Com- mission of American financial ex- tion, is to sign the currency perts on China's currency, by which

The 'buses have very little space to pass each other on half the road, effectively with silver, its true China is recommended to adopt a

und a" collision has on many oc basis; thus will the premium dia. gold standard for its currency, as

such a scheme cannot but affect this casions only just been avoided wher appear, parity se obtained, and Colony most seriously, having rebuses from the Ferry, coming up ailver will circulate on equal terms gard both to its economic interests

the hill into Kimberley Road, swing

with notes.

and geographical position vis-a-ria, round the corner and meet an on China.

coming 'bus.

Question of Note Issue.

In this connection the Association contended that no remedy could be attained until the Government took over the note issue, as private note- issuing institutions could only deal with temporary, abnormalities, and not with the situation as a whole. The Association had concluded that the premium was detrimental to the prosperity of the Colony on the whole because (a) of the pacer tainty as to what melium would be used for settling debts, (b) of the bad effect on the transit trade and industries in the Colony, and

This report is not only replete with sound sense but is also most

ingenious. The only fault (if fault it can be called) is that the pro- posal does not provide for the mint- tion of all coins, including the pro- ing of gold coins, while the redergp-,

posed new coinage called the

Sun," is to be effected by means of gold bars or drafts on, foreign gold-standard countries.

Perhaps the officer-in-charge will wake up when somebody twists his

or her ankle or a nasty accident of

some kind happens.-Youra, etc.

WORN-OUT SHOES. Kowloon April -16.

TRUE CATHOLICITY,

1

On the night of July 9, the man Leong was accosted by two Chinese, one of whom was the defendant, at the junction of North and Belcher Streets. The two men stab

bed Leong, one causing a wound in

the arm and in the chest and the other causing a wound at a position slightly below the first one.

་

The defendant maintained that be did not tie up, the things for the to carry, also that the lad's age was ifteen and not twelve.

His Worship (to defendant): In any case, the Medical Officer says that the boy's physique is very poor; it is not as if he is a very strong little boy. The doctor thinks. he is 19, and you thick he is 14

or 13.3

After hearing further evidence His Worship said to defendant; } am going to hold that he is not 18 I am entitled to estimate.. You it will be one month's imprison will be fined 850. If you can't pay,

ment.

WHAT IS POSSESSIONI

The defendant was eventually There was a long argument about taken to the Government Civil Hos. the legal pointa of possession when pital, and medical evidence would the case in which a Chinese and a be called to show the serious nature widow were charged with the un- of the wounds. The matter was lawful possession of 97 lbs. of to- reported to the Police and a desbaree on which duty had not been cription of the assailants was also paid. furnished. After the affair, the accused disappeared from the Colony and it was only recently that he was seen by the person who was stabbed. He was then working in a butcher's stall and the victim pointed him out to detec tives, who took him into custody.

Pierced to the Lung..

Revenue Officer Young prosecuted while Mr. J. M. D'Almada Re- medios appeared for the first defen- dant. The widow was not legally represented. The evidence for the prosecution appeared somewha vague, and while Mr. Remedios argued that he had no case to answer, the Magistrate held that he had.

Dr. D. J. Valentine, of the His Worship ordered remand Victoria Hospital, said he remem- till Wednesday next in order that hered attending to the case while Mr. Young might consult one of the he was in Government Civil Hos-solicitors of the Crown on the pital in 1825. He could not recog matter. nise the victim in Court, but ac- cording to the records. the man had two serious stab wounds, one

made a very speedy recovery, being, in witness' opinion, extremely fortu nate. The complainant was called into Court and exposed his scars to the Bench,"

Sin-What an interesting coin-of which pierced a lang. The man cidence-on one page of the Daily Press a lecture by the Dean on the Message of the Cross, and on an- other page a lecture on Voltaire This is true catholicity-my only complaint being that you gave too nuch space to the Dean and not enough to Voltaire. However, we must be grateful for small mercies, I had hoped to see others of your readers writing to express their views about the series of Lenten addresses at the Cathedral, but nobody but myself seems to be suf ficiently interested to write to you

The scheme may work successfully [TO THE EDITOR OF THE HONG KONG in such countries as the United

DAILY PRESS. ". States or Great Britain: but in China-the currency of which has for ages been of silver standard, and which is simply now in a stags of transition from silver to gold standard-it is hard to expect it to work satisfactorily. If the possi bility of redemption in gold coins (e) of the additional source of ex-rise, benne, gold bers would be is insisted upon, the people may change upcertainty.

| too awkward and unwieldy a The Association did not consider medium of currency, Clever as the that stabilising the dollar

Kemmerer Commission undoubtedly was is, it must either have overlooked desirable in the interests of the this point or been over-confident Colony, because this could only be

Therefore, whatever conclusions done by giving the dollar a fixed after its deliberations, it is my our local Committee may come to

sterling value. All exchange busi-duty to state unequivocally my would then be shifted. to strongest condemnation of the stabilisation of the dollar; for, as China, and heavy exchange fluctua-sure as night follows any, and day, tions between Hong Kong and night, unless something untoward China would still remain. If, on spell dire ruin to Hong Kong com- happens to our planets, it can only the other hand, a gold exchange mercially and otherwise, for reasons standard

adopted, whilst which are obvious only to the very China's currency still remained on gifted few who can, to use the great a silver basis, the only result would Goethe's own words, see things not be to divert the Colony's transit only inwards outwards but out. trade to Shanghai and Canton; the wards inwards that is to say, present silver reserve would, more-objectively, without any opaque orer, have to be turned into gold, body obscuring their minds eyes.

I have been wondering how the

news

were

an operation which would entail Government could have taken the Joss.

Members of the Committee put tions, so seriously as to appoint a

Hon. Mr.J. Owen Hughes ques questions to Mr. Chen regarding Committee of Inquiry into such these views. The general consensus questions as the alleged feasibility

Giving evidence, Leong Lin Shing said that he had been in Hong Kong for nearly sixty years He described the attack on him and added that he could remember the face of his assailants quite clearly. as they were not total strangers to him.

.

A OPIUM OFFENDERS.

When charged with possession of a quantity of prepared opium, a man explained that his nephew had planted the opium on him, as the

latter had been unable to raise some money from the defendant.

Mr. Lindsell pointed out that he could not believe that the man's nephew would choose such an expen sive way of "getting his own back.". He imposed a fine of 8750, or three months hard labour.

A woman, who was charged with Witness said that he was stabbed possession of opium, frankly ad- by what looked like new and shin-mitted that she was a carrier who on the subject. Though disappointing daggers. The two men stopped earned ten cents for every tael sha ed to some extent, I cannot say I

to see if the complainant was dend, smuggled into the Colony. She was but complainant was able to give fined 82,000 or five months.. am really surprised at this indiffer

chase. He saw the assailants run away and managed to home, where his master reported the incident to the Police. He was later taken to the Hospital. He' gave a description of his assailants to the authorities.

énce.

The lectures at the Cathedral have shown more plainly than ever that the clergy are still hopelessly floundering about in a sea of con- flicting opinions, making as brave a show as they can of confidence and unity, but actually completely at a loss to know what to do and say next to meet the objections and dispel the doubts of those whom they wish to call back within the fold, or prevent from breaking away from the Church.

I think Friend Voltaire himself supplies an appropriate comment on the Dean's mystifying metaphy.

stagger

'Witness added, in answer to Mr. Fitzroy, that at the time he was attacked, he was wearing a badge issued to him by the Government.

CRIMINAL SESSIONS.

MURDER CHARGE ON THE CALENDAR.

on

of the meeting was that an un- of stabilisation of the dollar, the theology," and whilst honest doubt, strikers, I have a "wife and Cheng Luke and San Tam, are in-

vast scale, and all because of the

"I

Sir

Hong Kong, April 18.

A CHILLY RETORT,

{TO THE EDITOR OF THE “ HONG KONG DAILY POLES."]

starve,"

The Criminal Sessions will open at the Supreme Court next Tues- In answer to Mr. Rendall, wit day, April 22, at 10 a.m., bolero ness said that although he had Sir Joseph Kemp, K.C., “C.B‚E., known accused for some time by Acting Chief Justice.

There is only one tria

the sight, he had never spoken to the necused, who, added complainant, exlendar, which is for murder belonged to a guild. He explained committed at Kowloon City. Three that he was not able to join themed, Tec Ping, alice Tae Ki Chau,

I cannot let them dicted on the charge of alleged

murder.

It is understood that Mr. Yew Blew Police Whistle.

Koh Leong has been assigned to Continuing, witness said that the defend the prisoners. This will be place where the incident occurred Mr. Leong's first case since he was was very well lighted and he had recently enrolled as a barrister of no difficulty in identifying his the Supremes Court, assailants. Two other men witness when witness blew his police ed the affair, but they ran away

| whistle.

Cross-examined by Mr. Rendall, witaeas, said that he saw accused about four or five months prior to the arrest.

Mr. Rendall: Defendant here is liable to be sent to prison for life. Can you tell me why you did not- arrest bim when you first saw him

Witness I was informed by my clansmen where Ee was. As I was busy earning my living, I did not go to look for him.

City Cheung Hung Chan the de

The murder took place on Febru- ary 15 at 3, Sha Po Road, Kowloon

ceased, lived on the second floor of the house. He was a Buddhist priest who kept a shrine in the front room of his house and con- ducted rites for worshippers on payment of a small fee. According to the medical evidence, death was due to, suffocation from gags used by robbers when he was attacked ¦¦¦ in his house.

Aical lecture. Men need laws, not limited Government note-issue was adoption of a gold standard, etc. clauses must be admitted to be an impracticable, and unnecessary for while my considered recommenda

about first principles and original family and the Colony's own interests. Gov-tion to the Government, hased on

unsatisfactory attitude from the ernment, and indirectly the tax- the soundest of payer, would be involved in enor through the Hon.

renson made point of view of pute logic, the

Si Henry

claim of any Church to have abso- mous exponads in handling and Pollock, K.C., and once by myself lutely certain and authentic in- storing silver dollars, and would direct less than a year ago, only formation on the subject is obvious- inevitably be drawn into exchange elicited from the Government they ridiculous. I wonder if the views operations and investments on a reply that it was receiving con- the opinion of the majority of of Voltaire or the Dean represent sideration. demand for Hong Kong notes out If the present Committee of In- thinking people in Hong Kong side the Colony. It was pointed quiry cannot recommend anything Yours, etc., out that the ratio of the Hong better to the Government, I would

CURIOUS. Kong note issue to population was strongly commend to each of them already high compared with else individually and as a body my said where and that note issue should be recommendation, which should after limited to the Colony's own re-all benefit the Government to a quirementa

very great extent, and the writer Doilar Dumping,

to a very small extent, for the Mr. Chen, in the course of the Henry Pollock called it in his lotter

"child of your brain "-08 proceedings, was asked whether ho to me that it may urge the Gov- would support a proposal to proernment to adopt my scheme, which

Sin. I was surprised to see as bibit the circulation of foreign is the substitution of nickel sub-coins a heading on the front page of Replying to Mr. Fitzroy, witness dollars in the Colony. He replied for the present silver sub-caing of Wednesday's issue, Four Thou- later admitted that he first w that the difficulty would be to die all denominations. That my scheme sand Degrees of Frost. At first accused about five months ago. He pose of these we had, which were is unassailable is evidenced by the I took it to be a joke, but on read- received information from friends legal tender, and that the objection fact that the to dumping silver dollars in the

very recommen- ing the article I found it way, I that the accused was working in a Colony applied equally to both the dation has been made to China for bad mistake. I say bad mis- butcher's stall in, Kowloon. He SIR,Perhaps the gentleman of foreign and British variety. If, mission, which consists of experts lay's schoolboys know

its currency by the Kemmerer Com. take, because to-day all Macau visited the market on the pretext the Sanitary Board, who took part again, Government were to have of world-wide repute.

that the of buying something, He saw the in the discussion yesterday regard lowest conceivable temperature, al defendant, but he did not reporting the Tosumption of Nos. 1 and 2, the sole right of minting, silver dollars the only effect of this re- premium of bankantes raised

As only a few months ago the

solute zero, where, the atoms cense his presence to the Police, as wit Pak Tsz Lane, may not be aware their kinetic meanderings, is minusness thought the matter had ended of the interesting fact that in the straint on the flow of currency great deal of controversy in the 273 degrees Centigrade, or minus when the Government paid him year 1899, No. 1, Pak Taz Lane, might be to divorce exchange even Press, so over a decade ago the pre 4504 degrees Fahrenheit. That is some money for compensation, A wat the Headquarters of the Chi further from silver parity.

mium on Hong Kong dollars, and 491.4 degree of frost by our ordi- Chinese detective recently painted nose "Foo Yan Man Ser Revolu The meeting recorded its great especially Mexican dollars, also nary English scale. According to out to him that the man described tionary Party, which opened and indebtedness to Mr. Chen for his raised a great deal of controversy, the present laws of physics a lower to the Police in 1923 was sem in led the way to the establishment of memorandum and attendance to The condition then obtaining was temperature, ie, more degrees of the Central Market. Witness then the Chinese Republic, answer questions. It was mention.much more complex in view of the frost, is an impossibility, I, was went to the market with two police- In view of its interesting con- ed that Professor Robertson, MA., fact that the subsidiary coins then sorry to see such a mistake on the men and pointed out accused, who nections and historical importance, of the University, had promised to in common use were of heterogene.

front page of your

was then arrested

it would be well to have this baild- give the Committee the benefit of ous character-that is to say, Hong

| ing preserved.-Yours, etc his considered views on the quea Kong "sub-coins and Chinese sub-

SIE OLIVER FUDGE.

HISTORY. tions at issue.

coins were both in circulation.

Hong Kong, April 16

regretfully, paper-- Yours,

Hong Kong, April 16.

At this stage, hearing of the caso was adjourned until Monday, April

B, in the afternoon.

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DANAO DAILY PRESS".]

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