1930-07-02 — Page 4

HONG KONG DAILY PRESS, WEDNESDAY, JULY 2, 1930.

SHOPPING GUIDE

FELIX HAT SHOP

July Sale Splendid Bargains in Washing Novelty Frocks

All Hats Greatly Reduced. Shop Early

LOCAL MAPS

Peak District,

Kowloon,

Victoria,

New Territories.

HONGKONG DAILY PRESS.

PERMANENT WAVING

The Most Up-to-date Beauty Shop in Town. Mas. BETEN, TEL. 58089.

PENINSULA HOTEL Ex. 34. -

NAKAMURA

MASSAGE

No. 3, LE TUNG STRIKT, 1ST FLOOR, WANCHAL Howo Kore,

CANVAS

FOLDING BOATS

LIGHT! PORTABLE! Just the thing for the Beaches INSPECTION INVITED.

RUDOLF WOLFF & KEW, bm.

84, QUEEN'S ROAD CENTRAL 1st Floor.

Tel. 22173.

Mackintosh's

Men's Wous Shuvalists.

Alexandra Bldg. Der Faux Road.

Maison Marnac

(Dress Designer)

•

Has the Latest Models On View at

4, Pedder Street (opposite Hongkong Hotel).

REMOVED TO

74, QUEEN'S ROAD C.

{DER A. WING & CO. (1923), LTD,

ON SALE.

BOUND VOLUMES of the HONG KONG WEEKLY PRESS January to June, 1929.

WITH INDEX, PRICE-87.50. HONGKONG DAILY PRESS.

A. YUN

TAILOR & OUTFITTER 40, POTTINGËR, STRIET, CENTRAL TEL 36060

Taro Kono

DAINTY SHOES

"

OF EVERY DESCRIPTION MADE TO ORDER AT MODERATE PRICES.

ROYAL SHOE STORE

No. 1, D'AGUILAR STREET,

Howa Kors. Telophone 128237.

The Main Shop of

י.

POWELL'S

Gentlemen's Tailors and Outfitters.

BESPOKE ORDERS Executed in 24 Hours, 10, ICE HOUSE STREET,

Brown

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2nd Floor, BUTTON BUILDING, 7, DUDDELL STREET. (Opposits GosPEL HALL) Orders executed in 24 Hours TELEPHONE 29056.

THE JADE TREE, Inc. HONGKONG HOTEL

lis removed to

THE ARCADE, PELIKULAR HOTEL, We specialize in

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Pictures and treasures of the ancient dynasties.

HONG KONG WEEKLY

PRESS.

CONTAINING ALL THE WEEK'S LOCAL NEWS.

The Paper to send Home

GARAGE

FOR OAR HIRE

LOKK

FOR HONG KOND: 24758 FOL KOTLOON: $7374.

THE DAIRY FARM

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Manufacturers of TEAKWOOD, BLACKWOOD

AND

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DEPARTMENTAL STÖRE

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H.K. TRANSFER

P. O. Box 1, Hong Kong & LIGHTER CO.

is the Address. Write an Order for the Weekly Press to be sent you for Three Months or Thirty Years, The first will cost you $3.75, and the Annual Subscription is $15.

W

FURNITURE REMOVLAS AND GENERAL TRANS-" PORT BY TRUCK OR LIGHTER.

BT. GEORGE'S BUILDING

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L. E. 8. Hodg

HAVE YOUR EYES TESTED AND FRAMES FITTED

By

CHINESE GOVERNMENT AND SILVER.

IMPORTANT PROBLEMS WHICH MUST BE

CONSIDERED.

Mr. E. Kann has written the following article on the silver question for the Shanghai journal Finance and Commerce, Silver is all important to-day, and in view of the palliatives which have been proposed, his marshalling of the facts connect- ed with the previous metals should demand attention. Notwithstanding the recognition

of the fact that it cannot success- fully interfere in the resuscita- tion of silver tho Chiness Govern- ment is trying to find a way out of the inpeREE. On June 19 the authorities received a communica- tion from the Central Political Council, pointing out the serious- zess of the situation and request- ing that, within three weeks ade quate measures should be devised for dealing with the present slump in silver values. It is specially pointed out that the following sub- jects should be investigated and re- ported on. In citing the queries

the writer ventures to comment on the subject matter merely for academic purposes; his findings may possibly serve as a basis för comparison between the results ob tained by more competent parties.

Marketable Gold,

(1) The total quantity of market- able gold in China ↑

Here one encounters the first dit- ficulty for lack for definition of what is meant under 'marketable gold." Since gold is not currency. in China it stands to reason that all foreign gold coins held in China are marketable gold. With rare; exceptions gold ornaments are in- variably marketable gold, for their artistic value is negligible." Ringa

Bre

not studded with precious stones. Bracelets, hair bangles and other golden articles for female. adornment are of crude manufac ture, and as a rule no sentimental value (heirlooms) attaches thereto. Golden articles represent savings, semi-hoardings, but net works of art or souvenirs-in this direction customs in China differ radically from those prevalent in the Occid

cnt.

Matal Used in Ornaments.

The writer doubt that anybody could be found in China capable of giving a tolerably correct estimate as to how many ounces of gold in the shape of rings, armlets, bangles and other ornaments are to be found in China, or how many sheets of gold leares, and how many small gold bars, are at present hidden in secret drawers of we drobes and buried in the ground. We have customs statistics giving the net value in silver currency of gold imported into China since 1885. But these gures tell nothing, since weight and fineness are not indicat- ed. Until quite recently the move ment of gold to and from China was free, and huge values passed the notice of the Customs. So the Iatter cannot supply the key to the situation. -

All we do know is that, at the present moment, there are about 20,000 gold bars slumbering in Shanghai, each weighing 10 Chaup ing taels (at 565.65 grains), and that under prevailing conditions, we may expect the arrival here of gold which, after being melted andere fined, will produce 100 additional

THE HONGKONG OPTICAL CO, gold bars per diem, say for the

Qualified Opticians 53, Queen's Road Q.

Tel. 22232

J Ullmann & Cr

High Class Jewellers. Est 1860

Alesandra Bldg Chater Road

SHOP

ᎪᎢ

THESE SHOPS

next three months. But all this does not give away the names of the multitude of people who will not sell their golden articles and send them to the melting pots of Shanghai. So here we meet with the first deadlock. And whoever pretends to be able to solve this particular mystery by presenting. estimates is guessing, and guessing badly.

China's Holding of Silver. (2) The total quantity of market- able silver in China!.

Always provided that the term marketable silver is capable of clear definition, this question, while remaining a rather knotty one, is less difficult to investigate. The authorities are probably not concerned in the existence of silver ornaments to be found within the borders of China. Leaving these out of consideration there remains, merely ilver for monetary Fur poses, in the shape of syree taels, dollars and subsidiary coins.

-It is a peculiar coincidence that in last week's issue: Finance' and Commerce the writer gave a detail- ed catimate of Chinese coinage since. 1891 The result was then that silver money in the three shapes mentioned was coined in this coun- try to the extent of big 85.74 per capita which, in turn represents an existing silver coinage of altogether 82,468,200,000, or in round figures,

BRUNSWICK HOUSE 23 billion dollara in silver.

BRUNSWICK PANATROPES

AND RECORDS

17, ICE HOUSE STREET TEI:-24035

It will be pointed out that, already during the 10th and follow- ing centuries, large quantities of Spanish, Mexican and other foreign" dollars were imported into China. This is perfectly true; bat sight" should not be lost of the disappear- ance of almost all of these foreign corns, be it through re-export, melt- ing or re-minting, After careful consideration the writer estimates the total quantities of silver held within China at between two and two and a half billion fine ounces.

Merely for record's sake it ought to be added here that, according to figures supplied by the Maritime Customs the net imports of silver into China between 1868 and 1929 (ears, coins and sycee) were valuot at approximately 750 million Hai- kuan taels, representing theoretic ally an approximate equivalent of 900 million fine cunces.

Recent Imports and Exports. (3) The total amount of export and import for the past 12 months? This query is not clear, for it is net apparent whether the export and import of gold, or silver, or merchandise, or all combined is sought. Neither is it clear when this particular 12 months period is. te terminate.

The solution of this question is largely an investigation of Customs statisties which, the writer fears, for might not become available many months to come:

(4) The total quantity of the world's silver output 1

This question is clearly put and can be clearly replied to. It will probably suffice if the writer re- cords here the world's, production of silver since the discovery of America, A., since 1493. Since the Americas are the source of over 80 per centum of the world's silver cutput, that period ought to suffice for our investigations.

The total world output of silver between 1493 and 19 (inclusive) in 14,710,000,000 fine ounces, parti- culars of which the writer if able to supply.

(3) The price of silver at the mines?

·

This question is very simple to answer: The cost price differs at every mine. for reasons clearly ex plained in many of the essays pub. lisled by the writer in the columns of Finance and Cominlerce sinet January of this year. The subject is also treated in the preceding paragraphs of this very review.

Silver in Circulation, (6) The amount of silver in dir culation

Having agreed on a certain date, which is to cerve as basis for com- Trigon, it is very easy to ascertain from reliable fanucial journals, what each country's holdings of silver coins then were, eventually also what amount in silver coinage had not returned from circulation. However, there, would' in the latter. event be по means available for telling how many coins actually circulate and how many have been melted, lost, or otherwise diverted from circulation.

There is another point to be con- sidered in attempting to solve this particular topic. One would have to convert all the foreign moneys represented by silver token coins from gold (which they represent) into Chinese silver currency at an adopted rate of exchange; or else, one would have to determine the exact weight and fineness of all silver coins in circulation abroad, and value of these coins on the basis of their fine content.

These are brief considerations and pasing remarks in connection with tce queries submitted by the Cen- tral Political Council. If a precise reply were possible to all queries (which is positively not the case), could this help to mitigate the slump in silver prices?

SHEAFFERS GOLF PENCIL

Fits in your pocket convenient as your watch. The lead REPELS so it can't punch holes in your pocket.

SHEAFFER'S

PENS AND PENCILS

THE SUN CO., LTD..

Distributors.

LAMMERTS AUCTIONS

PUBLIC AUCTION,

HE Undersigned have received THE

Instructions

TO SILL BT

PUBLIC AUCTION,

ON :

WEDNESDAY, JULY

COMMENCING AT 2.30 P.M., AT THRIE SALES ROOM, DUDDELL STREET,

72 TINS LEMON PUFF OREAM SHORT CAKES

48.

17

23

1

CRISPINO RYE BREAD

6 CASES CONDENSED MILE .1 IRON SAFE

11 ROLLS GOLD SEAL

CONGOLEUM RUGS

55 Cases FRUIT WIP

and

A QUANTITY OF MISCEL- LANEOUS GOODS AND HOUSEHOLD FURNITURE.

TERMS:-CASH ON DELIVERY.

LAMMERT BROS.,

AUCTIONEERS."

PUBLIC AUCTION.

THE Undersigned have received

Instructions

TO BELL HI

PUBLIC AUCTION

Ox

FRIDAY, JULY 4, 1930, COMMENCING AT 2,30 PM.

A

A THEIR SALES ROOM,

DVODELL STREET, LARGE QUANTITY OF VALUABLE HOUSEHOLD

{" !

FURNITURE.

Comprising ---

Teak Hatstanda, Desks, Electric Table Fans, Chesterfield Couches and Armchairs, Pizzos, Gramaphores, Records, Typewriters, Carpets, Rugs, Ornaments, Curios, etc., etc.

Teak Dining Tables, Dining Chairs, Sideboards, Dinuer Waggons, Ice Chests, Dinner Crockery, Glass Ware, Cinematographic, etc., etc.

Brass, Teak and Iron Bedsteads, Wardrobes with Bevelled Mirrors, Dressing Tablos, Chests of Drawers, Washstands, Pictures, Book Cases, Enamel Bath, Dinner Crockery, Screen, Vases, etc., etc.

and

A. QUANTITY OF BLACK

WOOD FURNITURE

Including

Jose Tables, Curio Cabinets, Tea Poys, Jardinieras, Chairs, Opium Stools, Tables, Couch, etc, etc.

OR VIEW From THURSDAY, the

3rd JULY, 1980.

TERMS: CASH ON DELIVERY.

LAMMERT BROS.,

AUCTIONEERS.

Banish COUGHS. COLDS & CHILLS

By Taking

PEPS

A THE HANDY TABLET MEDIOIKE.