1938-08-31 — Page 3

HONG KONG DAILY PRESS

HOW LONG CAN JAPAN'S ECONOMIC STRUCTURE STAND THE STRAIN?

BY Y. C... KOO

Editor's Note-This is the third and concluding instalment of an article by the President of the Kwangtung Provincial Bank. Dr Koc, who was a member of the Financial Mission to the United States in 1936. Is regarded as an outstanding financial expert in China.

PART THREE COLLAPSE

The economic difculties of Japan are known to the world. Even the eminent Japanese economists have not found a way of denying them. But the Japanese Government and the Japanese "militarists have not acknowledged defeat and are devising all sorts of desperate measures. Aside from encouraging the people to save, the Japanese authorities are promoting a so-called thrift campaign. For instance. the Cabinet ministers forsake their motor vehicles and the common people are forbidden to wear leather shoes and cotton articles. The Japanese people, as the world knows, have degenerated from poverty. to utter poverty owing to the disturbed state of affairs, in the coun try.

The Konoye Cabinet had tried to Recently, the Japanese Minister Coloples Was appointed the improve the living of the Japanese of people but without avall. On the Director of the North, China De. other hand, in prosecuting thevelopment Company. That showed notorious war on the continent, the. importance the Japanese Gov- the Japanese militarists have been ernment attached to the project. rash in the use of ammunitions The first requisite for the project, and explosives,

however, is capital which Japan

On Canton alone, Japanese war does not at present possess. The planes have staged over a thou-second requisite is peace which wil come about when Chinese send ralds. What the expenditure not

in gas and explosives has been : mobile units continue to be active is difficult to assess. But, the object in those areas. And the third re- of the long series of raids has been quisite is time. none other than to spread horror. When the Chinese planes appear over Japanese positions, airfields or warships, anti-aircraft guns, would || fire away without discrimination. The waste of artillery shells on land by the Japanese has amazed. many a foreign observer.

The aggregate waste of mill- Lary supplies by the Japanese aerial, land and naval forces runs to staggering sums. Without making an effort to end unprofitable hostilities, the Japanese Government places limitations on the people's ne- cessary wants in order to con- tinue aggression.

With large areas in North China stil under the control of the Chinese Government thera is always the danger of the Japanese being suddenly eject- ed from the areas they now occcupy, and without security capitalists are naturally un- willing to make the gamble.

PLANS WILL FAIT Finally, owing to the economic

in. England depression

and

LOST LIFE TESTING LUCK

As he sat in his car with a friend outside a nightclub in Akron, Ohio, Mr, Lacias `'Grady Cleere produced a revolver and said he was going to test his luck.

||

บ

He removed all but une bullet from the chamber. Then he twirled the chamber with his Anger, polated the re- volver at his head, and pulled the trigger.

It went off and killed him.

"I think it was just a foolish Impulse," the friend told the coroner investigating Mr. Cleere's death.

SOJASTOTEL

In summing up, it may be said that Japan has economi- cally reached her limit and her rectifying

far by from effective. It may anticipated that in another six months, and certainly not later than the next spring, the Ja- panese economic system, owing to lack of raw materials, shot- tage of gold, scantiness of pro- duction, stagnation of com- merce, excess of imports, and drop of foreign exchange ratem, etc. will collapse.

EXHAUSTION

GENERAL

VICEROY'S VISIT TO LONDON

Scheme To

Register

Unfounded Rumour "Nose-Prints"

Of India Act Change

Of Dogs

A scheme to take, the 'nose- prints" of dogs and file them for identification as is done with the fingerprints of criminals hay been recom mended by the Canadian Ken- nel Club at Toronto, Ontario.

The arrival In England, on leave, of the Marquess of Lin- lithgow. Viceroy of India, has riven rise, it is noted in Lon- dan, to a good deal of ill- founded speculation. particu. larly In the Indian Press. writes a Home correspondent. Current rumours regarding the At present, the Dominion De- object of his visit include sugges-partment of Agriculture insists tions that:

་

that dogs be tattooed.

"A bill, fundamentally, to amend Two delegates of the Canadian the Government of India Act. Kennel Club, Mrs. R. McColl and 1935, in order to meet. Congress Mr."F. W. Walkerville. have gone jobjections to the Federal provi- to Ottawa in an attempt to per- sions will be shortly presented to suade the Agriculture Department Parliament:

that nose-prints would be

more "An Important announcement effective than tattooing...

will be made in the near future designed to reconcile divergent views in India by means of assit- rancés, and thereby to speed up the inauguration of Federation."

I am able to state that, while the opportunity provided by Lord Linlithgow's presence here is be- ing taken for as full an' exchange

of views as possible with the Max quess of Zetland. Secretary of State for India, the main purpose of the Viceroy's visi: is to give him a brief respite from the heavy resi ponsibilities that rest upon the Governor-General, especially un- der the new Constitution.

NO FORMAL DISCUSSIONS

Lord Linlithgow has been at work in the India Office, and will be in consultation from time to time with the Secre- tary of State for India.

TATTOOED DOGS

"In no other country,” said Mrs. McColl in an interview. "are dous tattooed. The practice is ineffec- tive because the tattoo marks dis-

appear on most dogs within a week to two months. It is also painful”

The Dominion Department" of Agriculture has refused to renew the Kennel Club's charter unless members comply with the tattooing regulation

the Federal provisions of the Act were the outcome of prolonged discussions over a term of years, and that in his view there was not the least likelihood of the Govern- ment or Parliament being willing to consider. before even the Federation had come into opera- tion, any alteration in its struc- ture.

Our study of conditions In Japan is not unlike the study of a middle class family. In that family are wise old people whose counsel does not prevail with the younge generation under the same root. The young ones, pugnacious and There is, however, no question of their time and formal discussions or of any set greedy, spend efforts in robbing the neighbours agenda. No official statement on

HASTENING · FEDERATION America, commodity prices all over while the booty they bring home the subject of Federation is con-

Provincial autonomy. the Arst the world have dropped. In North is not sufficient to maintain the templated in the near future, and

household.

Constitution, Both property and the persistent suggestion that an stage of the new China, owing to the hostilities,

power reach exhaustlan after a Amending Bill may, be introduced came into force on April 1, 1937. commodity prices are still comtime. Without forsaking the old has already been met by the em-The desirability of achieving the paratively high. Japan, attempting to do business in that area, cannot polley, the family finally ends in phatic Government statement that idea of Federation at the earliest there is no intention of asking possible date has been emphasised commandeer all the raw materials a total collapse. NORTH CHINA'S RESOURCES

From the consideration of peace, Parliament to reconsider the pro- by the Viceroy on many occasions, for nothing, and in shipping them

the Government here are As measures to tide over the home a sultable price will have to humanity. Justice, national recon-visions of the Government of In-ahd

known to share his view. struction, and that of swecouring present economic crisis, the Japan-be paid.

The position, I am authorita- As is well known, the next step. ese Government is relying not only: Therefore the plans for the deve the oppressed people in Japan, the on encouraging the people to savelopment of North China are doom- war of resistance, and the eliminatively informed, remains precisely now under active consideration, is and promoting thrift, but there ised to fall and, in any case, cannot tion of the brutal, Japanesë mill-as defined by Lord Zetland in his the presentation to the Princes of a revised draft Instrument of Ac- also a movement on foot to develop assist in the solving of economic tarists."must be realized. The day speech at the Bombay dinner re-

cently, when he pointed out that cession to the Federation. the resources of North China. 'difficulties in Japan proper...

of success is not remote.

dia Act.

WEDNESDAY, AUGUST 31, 1938.-PAGE 3

Satisfied? Quite !

IT'S

"BLACK & WHITE"

YOUR FIRST SIP TELLS YOU IT'S THE SCOTCH,

SUMMER CLOTHES

Women's, Men's & Children's

WANTED URGENTLY

HONGKONG BENEVOLENT SOCIETY

Monday & Thursday

ICE

HOUSE STREET

%

10 to 12 Noon.

The

VERMOUTH FOR

A GOOD

COCKTAIL

VERMOUTH

PHDILLY PRAT &&

· ANCIENNE MAISHIESA MORLEY FILE & OF•

A LYON MARK 17.

MADE IN MARSEILLES

FRANCE

NOILLY PRAT

VERMOUTH

OBTAINABLE EVERYWHERE

Sole Agents:

L. RONDON & CO., LTD.

MARINA" HOUSE.

HONG KONG