1931-06-04 — Page 1

O.K. SAUCE

Served in the best places

Library, Supreme Court

Hongkong Daily Press.

No. 22732,號式拾叁佰柒仟弍萬弍第日玖拾月肄年未辛

How

to

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on Your

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Use

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HONG KONG, CANTON AND

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STEAMERS.

JOINT SRAVION OF THE HONG Kong, CanrON AND MACAO. STEAMBOAT CO., LTD., AND THE OLINA NAVIGATION Co.,Lro.

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WEEK DAYS.--Single-$3.00; -Return: $5.00 SUNDAYS Adi EXCURSIONS.-Single: $2.50; Return: 86.00,

EXCURSION TO MAÇAO:-

ON SUNDAY, THE 7TH JUNE, 1991. 8.8. "SUI TAI "

Will depart from the Company's Wing Lok Street Wharf at 9 AM, and from Madão at 4.00 P.M.

NorAll Steamboat Company's Steamer are fitted with Wireless.

ESTABLISHED

Registered as a Newspaper so the General Post Office in the United Kingdom:

HONG KONG. THURSDAY, JUNE 4, 1931. 肆拜禮 日肆月陸年登卅佰玖仟登英 Price

DIARY OF LOCAL

EVENTS.

To-day

(June 4)

Corpus Christi.

Queen's Theatre:

Moral."

*Lady's' }

World Theatre: Black Watch.

Star Theatre: Sky Hawk,"

"

King's Theatre: "Just, Imagina." Central Theatre The Singing Peony" (Chinese picture),

Dances: Tea Danco, H.K. Hotel: Dinner Dances, Hong Kong Hotel and Peninsula Hotel.

European Mail.-Inward: Europo rin Sucz (Kashgar).

Friday.

(June 3.)

Hughes & Hough's Auction Sale of furniture, 21, Jordan Road, How

loon, 11 a.m.

Water Polo-First Div.: South

Wales Borderers 4. Kowloon; and Div.: Chinese A.A.. South Wales Borderers, both matches at Victoria Recreation Club.

Queen's Theatre: "A Tindy's Morals."

World Theatre: "Black Watch." Star Theatre: "Sky Hawk." King's Theatre: "Just Imagine.". Dancos Toa Dance at Hong. Kong Hotel; Dinner Dances, Hong Kong Hotel and Peninsula Hotel.

European Mail:--Outward Europe via Siberia (Etap. of Asia)

10 a.m.

Saturday,

(June 6.)

GOLD--A WORLD

OBSESSION.

DESTRUCTION OF SILVER'S VALUE

DEFEATS TRADE REVIVAL.

EFFECTS OF A PRECIOUS METAL

MONOPOLY

Sir Henri Deterding, the writer of this article, which we reprint from the London " Daily Telegraph," is an outstanding: figure in the world of commerce, being managing Virector of the Royal-Dutch On Company and a director of the Shell Transport und Trading Co., Ltd., and other important concerns."

If I dislike anything it is the not alter drawing logical conclu publication of alarming atatemente aiona, the world has been advised which are far-reaching, which may by great money theorists to adopt bu true, but which remain bare generally Gold as the only stand- statements and unhelpful when ard" for fixing relative values for they are not followed up by everything serious attempt to show How the position arose, and what is more important fail to suggest any thing in the way, of a cure,

Such a statement I have before ne as it appeared in one of the most serious newspapers, It reads:

гра

It seems that few have aver put to themselves the very obvious query, Has gold in itself any great practical use, so that if one became possessed of a great deal of this metal it would be in itself of any use to its possessor"

*If we ever get out of the pre- The only true reply to this query sent crisis, then i per cent of is, of course, that it would not bo the population" will have 80 per of any use, and therefore, one must cent. of all wealth. The truth of this statement, assume that the reason for making makes it all the more alarming, gold the only standard of values is because it is one of the rare. and serious minded people must wonder as to the cause of this up-

metals, and gold can, therefore, be used as an easy standard. proaching possibility. As it seems altogether unreal, and ought never to come about, isométhing unreal must be landing up to it. In my opinion such a possibility can only n caused by the present world's

-Lawn Bowls:-First Division Taikoo v. Craigangower, Civil Berunreality.. vice Kowloon O.C., Police: v. Kowloon Docks, Recreio r. Kowloon B.G.C. Second Division: Craigen. gower . Talkoo, Kowloon 0.0. Civil Service, Kowloon B.G.C. v. Recreio, Hong Kong Electric

Kowloon B.G.C.

Gold's Monopoly.

Its Rigorous Rule. Now just na all monopolies are certain to kill themselves if the idon of "monopoly " is too rigor. ous'y enforced, instead of working with the idea of best service to the public," so it is with gold. -It-has-become-an-unbearable ruler

If it were not that we were living who negicote all duties, and even amongst people who, generally commonsense; under its rigorous speaking, have become fatalists, rulo it has tried and almost Lawn Tennis: "A" Division such an event ne the piling up of succeeded in ousting the competitor M.B.E. Indian R.C., South wealth in fower and fewer haads with whose assistance, and from China v. Chinese R. C., Hong Kong C.C., Kowloon C.C. "B" Divi- would not even be a subject for whose existence, gold could hope to sion: Recreio v. Indian R.C., Kow-contemplation. Unfortunately, it maintain its ruling position, viz, Joon C.C.M.B.K., Hong Kong.

other

comparatively

mutal"silver"

0.0. v. Chinese R.C., Nippon Club would appear that very few of the the

. S. China, University v. Craigen intelligent muss are ready or will gower, Civil Service v.

Armying to give themselves the trouble T.C."O" Division: Y.M.C.A, 1. Craigangowor, Chinese R.C... Reto look under the surface for causes creio, Indian R.C. Kowloon In of inequities or approaching dan dians, Deutscher Club v Army T.C., South China v. Radio Sports 8018 Club.

"If it has to come let it come, Racing-Seventh Extra Race but it won't be in my time is Meeting (Happy Valley).

the very regrettable attitude of too many to-day

Queen's Theatre: **A Lady's Morals."

World Theatre:"Black Watch." What is the unreality to which Star Theatre: "The Sky Hawk."I have referred? It is that for King's Theatre "Just Imagine, no reasons other than "caso or European Mail:-Outward: "quick realisation of the iden, Europe via Suez (Kashmir) 10.30 but certainly not upon mature con sideration, and equally certainly

a.m."

rare

So long as there was a co-opera- tion between these two metals, and so long as their relative values were based on that inexorable. Iaw of the twins supply and de mand," then things went well, Silver. has been produced for more than one hundred years past now in about, fifteen times as much volume as gold.

Governments, however, governed by theorists, and sheltering them- serves behind so-called motley ex- perts, adopted gold as their sole. standard of value, and have ousted silver by " paper. "**

(Continued on Page 4.)

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