1931-08-12 — Page 6

DISTINCTIVE HATS BY

HENRY HEATH

From our experience we know that the Hat creates the greatest difficulty for most men. There are so many variations in the shape of the Hat, the type of features and the colour of the complexion to be dealt with, that most men are appreciative of a little expert guidance in the difficult matter of selection.

Mackintosh's

Gift of Jewelry

Is most appreciated of all.

Our stock of high class jewellery is the largest in the Orient.

SENNET FRERES

M. Heimendinger and Levy Sucers. GLOUCESTER BUILDING.

PEDDER STREET.

WHITEAWAY'S

GREAT SUMMER SALE

MENS

WOOL HOSE

GOLF HOSE

50 Doz.

14,5

MEN'S WOOL GOLF HOSE

Plain Ribbed Legs with Fancy Turnover Tops,

SPE

All Sizes.

SALE

PRICE:

$1.75

Pair.

KHAKI GOLF HOSE. EINE COTTON

WHITE GOLF HOSE in WOOL and COTTON $3.95 Pair.

MEN'S OUTFITTING DEPARTMENT.

WHITEAWAY, LAIDLAW & CO., LTD.

HONG KONG DAILY PRESS, WEDNESDAY, AUGUST 12, 1931.

UNEMPLOYMENT ITS CAUSE AND CURE.

CURRENCY BASED UPON AN INDEX FIGURE'

OF PRICES.

KOWLOON F.C.

SUBSCRIPTION": RAISED TO $10 A YEAR.

SOUND FINANCIAL

·POSITION;"

The annual meeting of the Kow- loon Football Club was held you turday and was presided over by Mr. Smith. LEARN

The Chairman in reviewing the The position then is this: our two. It is, in fact, conceivabis year's autivities said that the meet- present gold standard is not necor that like the meridian of Greenwichg was hold slightly earlier this year in order that the football cap- sary to maintain the credit of our the London standard might come to tain might be elected before the national currency, but it is at probe adopted in the course. of time as

commangement of the season, tr sent necessary to maintain our cur the world standard. For London rency at a fixed ratio to other index figuras of price, owing to free currencies. Is the latter advau. [ trade, would be more representative tage sufficient to counterbalance the than those of any other city in the disadvantages of unemployment world. which we believe its retentionen. tails. We will consider possible re- medies for the present financial dif ficulties when it will be seen that this question may be ovaded

(3) The most orthodox remedy, and one least likely to be really effective," is that advocated by cor tain bankers. It consists in every endeavour being made under the present system to economise in the

use of gold. It is considered that

Reduction of Gold Parily?'

(4) A still simpler solution of our problem would be arrange, if pos- sible internationally, for the gold Parity of every nation's unit of cur rency to be reduced in accordance with the rise in purchasing power of gold; alterations to be effeted whenever prices rose say more than 1 per cent. In this way not only would the national currency remain practically stable in regard to pur

i

Mr. Smith-drow the attention of

bar. This, he explained, was on- the meeting to the profits of the

tirely due to the work of the bar convener who was well-acquainted with the nature of the goods and by whose knowledge the Club were able to purchase goods which ro sulted in their benefiting from the taxation' and': which enabled thêm to sell at a docent profit.

The Club's furniture, it was pointed out, was written down to nominal sum of $1. This, it was explained, was a wise step as it was a difficult matter to nasers the wear and tear of rattan” and wicker furnituro. · 'A' sum of $1,000 has been set aside during the year for bad and doubtful debts. Thes debts had been fully examined by the Committee and the setting aside of $1,000 was a stop which the treasurers approved. Taking

this will, by making the present chasing power, but it would remain all these circumstances into con- supply go further, prevent gold axed in relation to the currency ofsideration, said the Chairman the

preciating and prices rising. Even its strongest advocates can hardly regard it as more than a very par tial remedy.

Bimetallism.

KAIPING COAL

FOR HOME, FACTORY, & POWER HOUSE

HOME, FACTORY ARD BUNKERS

POWER

HOUSE

TUGS &

LOCOS.

THE KAILAN MINING ADMINISTRATION. DODWELL & 00.. LTD. Agents, Rong Kong.

COATES' ORIGINAL

PLYMOUTH

GIN

IS THE BEST DRY GIN FOR COCKTAILS.

Sole Agents

The subscription of, was rais CALDBECK, MACGREGOR & Co., Ltd.

which formerly 85 a year, was raised

profit of over 2500 shown for the other, nations. The time when a re-fear 'revealed that the club was in he effected might be left to an information concerning some items duction in the parity of gold should a sound financial position.

**After a number of inquiries for

announcement by the Statistical of the accounts, the report and ac- Department of the League of counts were unanimously carried: Nations that a one per cent, fall in prices according to their calcula tions, perhaps based on London prices, had occurred. Even if only England adopted such a system the advantages should outweigh the dis advantages. If in practice they

retrnet before much harm were done. were found not to do so, one could

There seems no reason to suppose,

at yesterday's meeting to 10 a year which figure included an entertain- on football matcher played on the ment tax levied by the Government' Club' ground. It was originally intended that the subscription

should be raised to 812 exclusive of tax, but this was not favoured by the meeting':

The election of officers wis na follows:

President. Mr. C. M. Manners." Chairmann-Mr. Robert Hall.

Captain of the Club.-Mr. A. Me-

Kelvio.

Vice-Captain. Mr. G. Hodey. Bar Convener. Mr. C." Bond. Tennis Convener G. Stokis. Hon. Secretary. Mr. F. Clemo. Treasurers.Mesar's. Percy Smith, Seth & Fleming. Adapte

(2) The next most orthodox re medy in binetallism. It is a policy which even before the War had wou good will amongst the Economists It consists in the leading nations of the world agreeing to fix the ratio between gold and silver and use both metals as the basis of their currency. Its adoption would in volve certain financial sacrifices and however, that other Powers could hazards and for that reason tot readily be persuaded to fall in nation is likely to adopt it. There line. They are all suffering an man to no doubt that its general 1196 would exercise it beneficial effect riation of gold. If England and much as England from the appre upon trade. Owing to the rapidly

America agreed to such a policy increasing supply of silver, prices would tend to remain stationary forced to do so in their own t

other nations would be practically It is, however," a crude remedy at

texasts, the beat. For there is no guar.

This solution seems pre-eminent- antee that in the future the rate of

ly sane The bankers say arise in supply of gold and silver will be the value of gold, owing to its shor anything like the same as will be

tage, must cause a fall in prices, stimulated by the march of inven- which must cause industrial de tion, the rate of supply of the compression. Therefore every effort modities of the world. If the latter should be made to prevent auch oxceeds the former prices will again shortage being felt by ingenious by Mr. Williams at the Central start to fall Poste

devices of employing one ounce, of Police Court yesterday, fines gold to do the work of two. Surely amounting to nearly 8100 being in-

ly'

it is simpler only to uss that weight of gold to back a note which has a fixed purchasing power value

General Committee. --- Metsrs. Spary, A P. Clemo, Johnstone, Coleman, J. Bench and Dallow

Balloting Committee. -- Mezara. Hast, Keats and Dallow

PRAFFIC OFFENCES.

SEVERAL DRIVERS FINED.

wing et Several traffic offenders was ined

pored.

Obstruction.

Index Figure of Prices, (3) To expect England to adopt a currency based entirely upon en index figure of prices, maintaining that currency at a dsinite fixed rate With such a system if gold doublestriction in Bill road. A polico

to prices by the necesary contrac in value no shortage reaulte, as only tion and expansion of note issues,

Lo

is to expect what is far too ro one half the weight of gold will be volutionary to be even remotely required in exchange for; or probable. Yet so far as internal back, each. note.. trade is concerned it represents an ideal solution. Forward contracts could be estimated with absoluts,

:.

Advantages Summarised.

twenty dellars for causing an on- A public car driver was fined

upon seeing him, drove of sta bfficer stated that the defendant, fast spoed scattering the pedestri ans in all directions.

Inspector Alexander stated that the defendant had bad two provi cus accidents' and had been warp. ed by the Inspector-General, of Police.

Harrow Escape,

had three previous convictions, was A Chinese public ear, driver, who fined 825 for dangerous driving.

It was stated that a party of averted collision with the car which Police motor-cyclists narrowly was approaching from the apposite. direction. The incident happened Water Bay golf course, on Island Road just past the Deep

certainty which would be an in It enables currency to approxi. catimable boon and stimulus mate towards the ideal, namely to trade. On the other hand for our be current to a maximum extent national currency to bear no fixed both in space and time. It is ratio to foreign currencies would be solution which would prevent-the a distinct disadvantage. This die burden of our national debt auto- advantage could to some extent bematically increasing, as is at pre overcome and the same result sent the case; it would enable bud reached by a slightly different sys gets once more to balance without tem involving practically no risk at straining individual resources to the all Aseparate and concomitant breaking point; it would, by rep durrency could be introduced repre dering wage reductions unnecessary, senting a definite unit of purchas reduce strikes to a minimum; fine!

Speeding. ing power, with a backing of goldly by enabling the producer, to lonic

Comming out of O'Brien Road, not of a definite weight but of such ahend, it would enormously simplify a Chinese public car driver ex- weight as had a definite amount of his problems.

ceeded the speed limit and was ar purchasing power. In short on ver. Any ather scheme for unemploy rented by Traffic Sergeant Baker tain days, if application were made, ment, such as national loans to enwho stated that the driver had say such notes of this currency ablo new public services to he un sounded his horn but if another could be exchanged for such gold dertaken, are likely to do little car had been approaching, at the as would on that day purchase more good than harm, for they do time there would have been a nasty goods of the value of a unit of pur not strike at the root of the evil, smash. A fine of 820 was imposed. chasing power Thus in October Moreover, by increasing produc f930 the gold which would be given tion, they tend to lower prices and

Dangerous Drivinghow" in exchange for one of these notes thereby throw others out of work for dangerous driving, the police In prosecuting Chinese driver would be is per cent, less than that This plan advocated seems the stated that the defendant drove off which would be given in October only genuine sulation, Yet because at a speed of 35 miles per hour from 1929. In such a way the note would it is novel it is hardly likely to a private parking space, proceeded retain a constant value, independent rain ready acceptance. The Day down Whitty Street, to Queen' of gold fluctuations It might be light Saving Bill was so obvious Road, and finally stopped on made obligatory by statute for govy, sensible that it was, for years, French Street and turned ernment pensions and salaries to be considered too revolutionary to at lights Said in such a currency; and also tempt. It is up to the unemployed The defendant was fined $10 for in order to avoid an increased bur to see that such a plan has a fair speeding and 85 for parking on den through appreciation for gov-henring, and later a fair trial, if private stand, an adequat ernment loans to be Boated in such they are, as they claim to he the

Tonting

(Incorporated under the Companies Ordinances of Hong Kong. PRINCES BUILDING, IT HOUSE STREET.

hostiam sell

gilla en armoaz sahig nha qu

APPROPRIATE

choice of

appropriate type.

ornamentation

has much to do with

the pulling advertisement.

THE HONG KONG DAILY PRESS

setting up advertisements alms

at making them as effective possible by the proper co-ordination

type, copy,

and illustration.

DEATH OF AN OLD

RESIDENT

MR. GS, BOTELHO PASSES AWAY.

The death occurred at 10, Mosque

tyd brawworn and adul

GOODWILL TOURISTS.

ARRIVING HERE NEXT WEEK.

On July 20, 4 small party of Street, yesterday of Mr. Guilherme goodwill tourists Severiane Botelho, an old Foxtu Los Angeles Chamber of Commerce the representing guese resident of the Colony

The deceased, gentleman, who was sailed from Los Angeles by the 1.5. 33 years of age was one of the best Chichibu Maru for a tour of the known members of the Portuguese community. He was born in Macao Orient. The group is headed by being for a time in the service of manager of the Foreign Commerce but came to Hong Kong as a youth, Mr. Clarence H. Matson, who is

the Army Ordnance Department as tho China Mail He then joined yn g

and Shipping Department of the a foreman, which position he held Los Angeles Chamber of Commerce for over 32 years, leaving the ser and who, it is understood, has made vice at the age-limit of 60 years. He was then for a few years with many previous trips to the Orient...

he hung resided with his son. Mesara, Graca & Co, but retired While the members of the tour some stent years ago, since when party intend to devote a large part The late Mr. Botelho was pro- of their time sightseeing and re- minantly associated with practical creation, they also hope to have the s currency. In the case of wage victims of an adverss monetary A 810 fine was imposed upon the Colony, and had been both Pre connections and friends throughout disputes it might be made obliga system. It is also up to the em Chiness for parking his car twenty sident and Secretary of the Society the Orient. Their route calls for Jy all the Catholio institutions of opportunity of meeting business tory for wages to be paid in such ployers of labour who object to Botes. In most trades the advan- strikes; it is up to the producers foot on the road in front of the of Rt. Vincent de Paul He was brief stops at Yokohama, Nikko, inges of a stabla currency would who look for profits; and last but the Macao steamers wharf, at the extremely popular with all who Tokyo, Nara, Kyoto and More probably soon be grasped, and this not least, It is up to Chancellors of same time touting fox passengers. knew him, and he will be greatly in Japan, brocceding thereafter to new currency would automatically the Exchequer, who are finding their

Disobeyed missed by his nine children and Shanghai, Hong Kong and Manlid. Lend to relegate the use of a pound budgets over more difficult to Train Inspector Alexander slat numerous grandchildren, far whom The return over the lame route xilt, based on a axed weight of gold to balanes.

SMS od that while he was riding his much sympathy will be feltyd be inade from Manila narrower and narrower channels: It is as absurd to claim that motor-cycle down fardan Rond the The funeral, which was largely Their itinerary cells for arrivals perhaps annily "mérely to inter-stabilizing a currency would be de groen light was in his favour, but attended, took place yesterday, the in Hong Kong, en Baturdar nakional channels. Is is possible psaing-it, as to argue that if a man, a Chinese driver ignored the red remains being inferred at the... August 22, remaining here an I eren here the new currency might, I were tai, nemain stationary on light, and passad through just mis Roman Catholic Cemetery: Thers August 24, and again arriving from owing to its constant nature, tend mountain, he would be descending ing the motor cycie. The defendant was a large number of wreaths sent Manila on September 1 and calling. to become the more popular of the it

was fined $10

| by relations and frienddien

on September 2.4 VARE