1919-08-09 — Page 2

רובה.

KOTIC

THE HONOKOSË TELEGU

THE SPIRIT OF REVOLUTION:

THE UNDERWOOD TYPEWRITER TOO MUCH MONEY AND TOO

"The Machine you will eventually buy

HORNSBY-STOCKPORT

ENGINES AND SUCTION GAS PLANTS.

OVER 10,000 IN. DAILY USE

HORNSBY DIL ENGINES,

ARENTS FOR:

~THE EXPANDED METAL CO, LTD.

EXPANDED METAL FOR REINFORCED 'CONCRETE

TARSYES' MAQNINE TOOLS.

MORSE

ANKA. 02 "Machinery, and

Mayšniaring Suppl

by aquelas à GRANT.

你

0.0." #

FRANCIS WEBSTER & SUR

Canvas, Prizor én

LIDGERWOOD MA Holesing ngun Püsimu

Cu

Kiss Mila and Bosade Kupi.

THE RESMAND COMPOSITIONS LTD.

Anti-Fouling and App-Cotro

Printa

·AND VARIOUA OTHER MANUFACTURERK

euk. Har kay deription of Machinery or Engineering Phat na aniwan ke

DODWELL & CO. LTD. Machinery 12 pú

YALE CHAIN BLOCKS.

TRIPLEX, DUPLEX, & DIFFERENTIAL TROLLEYS & TROLLEY TRUCKS,

CRANES &

SOLE AGENTE ———–

4

BRADLEY & CO., LTD. MACHINERY DEPT. #QUEEN'S BUILDING, CHATER ROAD, HONGKONG.

2

THE STANDARD LIFE ASSURANCE CO.

New Scheme for Children's Early Endowment :----

Principal features: Small Premium, Liberal Surrender Valus, Yo Medical Examination, Return of Premium in the Evant of Death, and Numerous Options at thể Age of 25. WRITE FOR PAMPELET" AID FULL PARTICULARS TO .

DODWELL " & CO. LTD. Agents.

THE HONGKONG ROPE MANUFACTURING

ESTABLISHED 1883. MANUFACTURERS OF

ATB,

PURE MANILA ROPE

3 STRAND 4 to 15

CABLE LAID 5" to 15"

CIZGÜNYEKIJOR. ↑ CIRCUMFERENCE.

4 STRAND 3" to 10" CELOU GEKKOJ.

Oil Drilling Cables of any vise up in 3,000 fest in length, « Priosa, Samples and full particular will be forwarded on application.

SHEWAN TOMES & CO.

LIME JUICE CORDIAL.

SIRDIR

SULE AGENTS :

CALDBECK

MACGREGOR

& CO.

15, Queen's Road. Ceutral. Telephone No. 75.

HONGKONG JAPANESE MASSAGE ASSOCIATION.

Mrs. A SUGA Mrs. S. BONDA 8 Queen's Road Central,

Mr. U.SUGA

MP. L HONDA

Hongkong.

METALS

of all kinds, especially for ship- building and engineering works.. Largest and best assorted stock in the Colony.

SIMEON & 60,

(Established &. D. 1880) HING LUNG`ST. Phone 515

MEE CHEUNG

ARTISTIO– PHOTOGRAPHER

PORTRAITS TAKEN IN ANY.

STYLE DÉSIRED.

OR

General Managers.

NORTH BRITISH

AND

MERCANTILE INSURANCE CO.,

In which are vested the shares of THE OCEAN MARINE INSURANCE CO., LTD.

to

•

AND

THE RAILWAY PASSENGERS ASSURANCE CO.

"

The Undersigned 3GENTS for the above Company are prepared ACCEPT RISKS against FIRE at Current Rates, SHEWAN, TOMES & CO.

Agents...

CREEN ISLAND CEMENT COMPANY, LIMITED.

}

PORTLAND CEMENT.

In Caaks of $75 lbs. net. In Bags of 250,lba, net. SHEWAN, TOMES & CO.

General Managate. Hongkong, 16th August, 1916.

MASSAGE HALL

23.' FLOWER STREET. MR. T. TAKAYE," MRS. MORITA.

CERTIFICATED· MASSEURS.

PATERNIS - TERATED zu Temat Own Hoces

-77 Denckers.

샤

PUBLISHED ANNUALLY.

THE

LONDON DIRECTORY

art Provincial & Foreign Sections. 'enables tráders tó or momentánskej lirock with MANUFACTURERS &/DEALERS

in London, wad in the Provincial Terms and Kundentafel Comen of the United, Xingfag and The Cectinant, of Purope. The (zam, AĞĀTAMAL. AZĀ other detalle neu vinesiñod' andar more · that **Food-trade, beading, including

* EXPORT MEROMÄNTE

2

with detalien pastilars of the Goods shipped and the Colźmie and Vorsiga Markata supplied

DUSTEAMSHIP - LINES

1

aringed, under the Porte to which they will, and Indicating the approximate Hailings,

LITTLE PRODUCTION.

AMS Drysdale writes in the Denly ChronicleWhat we are all suffering from, strangely enough, is the existence of too much money. The rich and the poor alike are under this oppres- sion."

At the best of times the State, a considerable consumer, bas nothing tangible but money to give in exchange for real com- modities, and as in war conditions it wishes to consume a thousand times more commodities than in peace conditions, it must then find a thousand times more money or perhaps three thou- sand times more, for value goes down as quantity goes up.

And the State is not the only buyer who has nothing to give for goods but maney-when I say nothing I mean no products Lessential to existence.

Normally there are thousands of such buyers-the Army, the}| Navy, the great Civil Service, the professions, the idle. In war their number is multiplied so enor- mously that there sometimes seems a danger that, we all shall have nothing but money to give one another in exchange for- money,

If only we could live upon money the whole world would be prosperous and contented, for there was never so much money in the work before as there is now, and those who have it were never more ready to part with it.

MONEY IN GERMANY. Germany is rolling in money, but nobody outside Germany wants it, and the Germans them- selves think very little of it-so very little that they have to give large bundles of it to one another for a piece of soap or the smallest food ration; •

The State which is puable to produce anything else, can pre- duce plenty of money, and, owing

to

other

our long habit of regarding money as wealth, this power gives the State for a long time- which however, probably has a limit-a pull over, all buyers of goods though these buyers may have many more valuable things than money" to place in the market against their purchases, for the State's money will buy these more valuable! things as well.

The reason, then, that there is i more money in the world than ever before, is because there are far more people than ever before. who have no products to ex- change for the products which they must have if they are to live, and, as they must live or the State itself die, the State creates money for them almost out of the clouds or the shining of the moon.

Not only have the armies and navies no harvests of their own, but they waste the harvests and products of those who are still producing--blaze them away on the battlefields or in bonfires at home. It is a lopsided exchange in which there are goods only on the one hand, and always only money

on the

other-money which has a restricted field of operation and necessarily, as the goods become conscious of their own value; & smaller purchasing power.

GOODS V. MONEY.

Observe how a greengrocer will now guard a potato, and yet how readily (if not a strict teetotaler) he will give whatever money may te demanded of him for a pot of beer.

The Germans are said to be buying diamonds, which is a very wise thing to do if their money will do it; and we kifw that the the British are buying Romaneys and antique rugs at what seem to be extravagant prices.

There is, indeed, growing no a: general suspicion of the ad hoc- money, and if there should come a time when goods will simply refuse to exchange themselves for money which has nothing behind it, there will be a great crash as there was ten years after Water- loo, in which the merely money- ed classes would suffer far more than the actual producers. But none would escape.

I suppose there is no 'short cut, out of the plethora of money into which the war has driven us, but it is suggested that, if gold were. again put into circulation instead of paper, a rare mineral in place of an abundast vegetable, money would regain its value and prices would fall.

The remedy would be still more. of success if it were

zenew

CREDIT

No office man

CORONA

The Paman These - Bookin

Come in and learn what

wal do for you.

ALEX. ROSS & CO.,

* Des Vœux Road Central

AUGUST, 5, 1919.

ing point unless the real pro- ducers reinforce it with increased production.

Japan, like the Americas, has mure goods than money, and as too, is sending us much more han we are able to send her, the nge there also is against us. SOLUSION OF IMPORTS- In Europe – itself, there is practically no exchange. "fler- many, Austria, and Poland ware among our best markets before. the war and even if they wished, they are now unable to absorb ourj goods. We are thus driven to (internal combustion to consum- | fing one another's products or

living by taking in one another's) washing, which I suppose is the ideal of the Tarif Reformer. Unavoidable as tris in it has produced "velocity of ethrency”. which is nouatural. If you drive |your driving wheel too fast it

will in the end fly to pieces.

All Eurovean countries, Great Britain included, have actually been forced by the war into the extraordinary necessity of having to exclude imports, cheap of dear, in order to give home employ- ment a start.

It is, however, misleading to call this Protection; or a lift to the profiteers, for without ex- clusion there would simply be anarchy beyond human control, resulting in general distress. An anchecked inflow of goods from the United States, for example, would influence the archange more, and more against us, and Lancashire would док have feżough, money to buy the raw

PREMO CAMERA $1.50 O ONLY

Kodak Catalogue Free on application

A. TACK & CO. 26, Des Fans Rd. Central.

SHEWAN, TOMES & CO

General Managers. ̧>

DRAGON MOTOR CAR CO.

HRAD OFFICE & GARAGE—24 & 25 DES VOKUX RD., CHE. BRANCHES 137 PRAYA EAST & 26 NATHAN RD.

SOLE AGENTS FOR

CHANDLER

HUDSON,"

AND

"OVERLAND

ELGIN MOTOR CARS

HARLEY DAVIDSON MOTOR CYCLES

AGENTS FOR STERLING TYRES

NEW CARS &¦¦TYRES IN STOCK

a ce mi to th

cotton which she wants from TEL. 482. BEST CARS IN THE COLONY TEL. 482.

America

It will be interesting in regard

to imports to watch the effect of the German indemnity on Ger-

Į man prosperity and international

FOR HIRE.

trade. Some will have it that THE SIAM INDUSTRIES SYNDICATE modero French prosperity dates from the indemnity of 1871.

Being mere glances, they are not exhaustive; but I believe It would see that if Germany them to be accurate as far as is to pay her indemnity she will they go, and they reveal the im- have to export £12 worth of goods portant fact that all classes in for every. i worth she imports. the community, from millionaires With no army or navy to main- to paupers, are affected adversely thin, and with other economies at by one common cause. A mere home, she may manage to do it, class remedy would be no remedy, and thereby become the most in- for it would leave the cause un-dustrious and productive country touched.

in the world.

For will it give us immediate or much satisfaction to put the State out of trade, for as the State goes out of trade and withdraws its regulation of the exchanges we see the exchanges-e.g.. in the American countries--going more and more against us, a tendency which is bound, unless checked, to send up food all other prices "at no distant date..

How are we to, tilt the Ameri- can exchanges back in our favour? By sending more goods to, and, for a time, taking less goods from," the Americas: But the goods which the Americas want from us are not small things, but im- mense things, like locomotives and railway trains, which take a long time to make.

But what about the rest of Europe? What tariff would keep out from Britain the unpreceden- tedly cheap goods which would result? I believe myself that we must soon re-open our markets and raise our barriers; but then the day of our trial will begin in terrible earnest.

Shall we be prepared ? A ter- rent of goods will pour in upon us from Central Europe at a faster rate than we can manufacture by present methods.

We shall be borne into an un- of upheavals and charted sea adventures. Will the domestic national conditions be sufficiently stabilised to enable us to win through perhaps the most trying rime in our recent history?

ESTABLISHED.

1814 100 YEARS.

JOHN

1914

HADDON

AND CO.

Export and Import Agents

For ONE HUNDRED YEARS in the CITY OF LONDON we have -as Buying and Selling acted Agents for Traders,Storekeepers, Growers of Colonial Produce. Are you requiring the services of London Agents to promote your interests? We shall be pleased to enter into correspond- ence, with a view to arranging terms to mutual advantage.

... BANK CERDITS-ARRANGED. -- CASH, ADVANCED AGAINST - 'SHIPMENTS

JOHN

HADDON

AND CO.

Colonial, Me and Produce

TOILET AND WASHING SOAP

Samples & Prices on Application to

FOOK LEE & CO.

Phone (174 & 1950.

Sole Agents.

THE FRENCH STORE.

A SHIPMENT HAS JUST BEEN RECEIVED OF

"

HUILE VIERGE "

(VIRGIN OIL)

A FAMOUS BRAND WHICH WE WERE ONLY TOO ANXIOUS"TO RECEIVE IN PAST YEARS,

BUT WERE PREVENTED BY THE WAR.

M. Y. SAN & Co., Ltd.

Manufacturers of "Bee Brand ' Biscuits & Candies

HEAD OFFICE!-- Ñum, 92-100 Queen's Road. Central, Hongkong. FACTORY - Nos. 141-145 Wanchai Road, Hongkong BRANCHES, Manila, Singapore, Shanghai & Canton, China.

E. HING & CO.

HARDWARE MERCHANTS,

SHIPBUILDING MATERIALS, SHIPCHANDLERS AND

25, WING WOO ST.

*PHONE NO. 1116.

CENTRÄL

FRENCH LESSONS.

G. MOUSSION,

15, Morrison Hill Road.

We the UNDERSIGNED being General Agents for THE MOTOR UNION INSURANCE CO.LTD., are prepared to issus POLICIES against FIRE, MARINE, and MOTOR ACCIDENT risks at current rates.

Particulars from

UNION TRADING «CO. Prince's Building.

THE

WING ON CO., LTD.

HONGKONG.

MOST UP TO DAT

安有理