1926-12-18 — Page 6

THE HONGKONG TELEGRAPH.

TILE FIREPLACES

The Fireplace, being one of the most central features of a room; both as part of a decorative scheme, and of utilitarian purpose, should harmonise. with the whole, and create a restful influence.

Simplicity of construction, restraint in colour, and pleasing lines are important factors in achieving this object, and the productions of-

THE MALKIN TILE WORKS CO., LTD." have been designed to suit all situations where artistle tileware is used.

At all times

we are pleased to

submit

suggestions

for all classes

of Tiling

and

Mosaic Work

Tel. 0.269.

C. E. WARREN & CO., LTD.

China Building

(Opposite side entrance Queen's Theatre).

EXPERT CRAFTSMANSHIP

AND THE FINEST OF MATERIALS

.'

Are placed at the disposal of architects for Shop, Bank and Office Fitting, Sign Boards, Stained and Leaded Glass Ceilings, Decorative Plaster Friezes, Panelling and Pilasters, Parquetry Floors, Ornamental Grilles, Gates and Fencing.

Photographs, Sketches and Estimates. submitted or Tenders given on Archi- tects Details.

ARTS & CRAFTS

SHANGHAI.

Codes:

CABLE ADDRESS

** STUDIO "

A, B, C. 5th Edition Bentley's.

SATURDAY, DECEMBER 18, 1926.

ROAD TO TRADE PROSPERITY.

"CLEAR AWAY TARIFF BARRIERS."

"A ples for the removal of re9- trictions upon European trade," signed by the loading bankers a id outstanding representatives of in- dustry throughout Europe (except- ing Russia), as well as by a num ber of American signatories, in- cluding Mr. J. P. Morgan, was is. qued recently,

The British signatorics includo the heads of the great banks, in- cluding Mr. Montagu Norman (the Governor of the Bank of England), and leaders of industry, including the heads of Vickers, Weir & Co., Arthur Balfour and Co., Rylands Brothers, Tootal Broadhurst Lee Co, the President of the Textile Institute, Col." Ver- non Willey (last year's president' of the Federation of British In- dustries), and Sir Percy Wood- house (chairman of the Mauches. ter Chamber of Commerce),

The declaration reads as fol- lows:

We desire, as business men, to draw attention to certain grave and disquieting conditions which, In our judgment, are retarding the return to prosperity.

It is difficult to view without dia may the extent to which tariff bar- riers, special licences, and pro- hibitions since the war have been allowed to interfere with internn- tional trade-and to prevent it from flowing in its natural channels. Ato period In recent history has freedom from such restrictions been more needed to enable traders. to adapt themselves to new and difficult conditions. And at no period have impediments to trad- ing been inore "perilously multi- plied without a true appreciation of the gronomic consequences in- volved.

The break-up of great political units in Europe dealt a heavy blow to international trade. Ácrosa large areas, in which the inhabit ants had been allowed to exchange their products freely, a number of new frontiers were erected and jealously guarded by Customs barriers. Old markets disappear ed. Racink animosities were per mitted to divide communities whose interests were inseparably. connected. The situation is not unlike that which would be created if a confederation of States were to dissolve the ties which bind them, and to proceed to penalise and hamper. Instead of encourag- ing each other's trade. Few will doubt that under such conditions the prosperity of such a country would rapidly decline.

PSTAN

WD.&H.O. WELL Bristol & London

CAPSTAN

Navy Cut

Bristolalondon

An

OLD

ACQUAINTANCE

with an ever increasing reputation

SMOKE

CAPSTAN

CIGARETTES

This advertisement is issued by the British-American Tobacco Co., (China) Ltd.

To mark and defend these new frontiers in Europe, licences, tar- iffs, and prohibitions were impos- ed, with results which experience shows already to have been unfor tunate for all concerned. One State lost its supplies of cheap food, another its supplies of cheap manufacturés. Industries suffered for want of coal, factories for wan of raw materials. Behind the Cus tome. barriers new local Industries. were started, with no real econo- mic foundation, which could only be kept alive in the face of com- petition by raising the barriers higher still. Railway rates, dict ated by political consideration, have made transit and freights difficult and costly. Prices have rigen, artificial dearness has been created Production as a whole has been diminished. Credit hag contracted and currencies have de preciated. Too many States, in pursuit of false deals of national interests, have imperilled. their awn welfare and lost sight of the common interests of the world by have been labouring to reduce to a minimum all formalities, prohibi- basing their commercial relations on the economic folly which treats tions, and restrictions, to remove inequalities of treatment in other all trading as a form of war...

matters than tariffs, to facilitate The Folly of Restricting Imports, the transport of passangers an

goods. In some countries power- There can be no recovery in ful voices are pleading for the Europe till politicians in all ter suspension of tarifs altogether. ritories, old and new, realise that Othors have suggested the con- trade is not war but a process of clusion for long periods of com- exchange, that in time of peace our mercial drgeements embodying in neighours are our customers, and every case the most-favoured-ha- that their prosperity is a condition clause. Scnie States have tion of our own well-being. If we recognised in recent treaties the check their dealings, their power necessity of freeing trade from the to pay their debts diminishes, and restrictions which depress it. And teaching their power to purchase our goods experience is slowly is reduced. Restricted imports others that the breakding-down of involve restricted exports, and no the economic barriera between nation can afford to lose its export them may prove the surest remedy trade. Dependent as we all are for the stagnation which exists. upon imports and exports, and On the valuable political results. upon the processes of interna- which might flow from such a tional exchange, we cannot view policy, from the substitution of without grave concern policy good-will for ill-will, of co-opera- which means the Impoverishment tion for exclusiveness, we will not of Europe'

dwell. But we wish to place on Happily there are signs that record our conviction that the opinion in all countrien le awak establishment of economie free- ing at last to the dangers ahead.dom la the best hope of restoring The League of Nations and the In the commerce and the credit of the ternational Chamber of Commerce world.

RICKSHAW" BRAND:

CÉYLON TEA

Cheapest and Best

From all loading Compradores. PRICE $1.00 PER LB.

Bo Galded by the Quality-Not the Price

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B-44

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