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1
THE HONGKONG TELEGRAPH,
NOW IS THE TIME TO GET YOUR
FRIGIDAIRE
THERE ARE DOMESTIC MODELS OF FROM FOUR. TO EIGHTEEN CUBIC FEET STORAGE CAPACITY.
OVER
1,000,000
IN USE THROUGHOUT. THE WORLD.
DODWELL &Co., Ltd.
Ji
Bole Distributors HONG KONG & 8. CHINA,
The
Hongkong Telegraph.
TUESDAY JANUARY 21, 1970.
RICKSHAS NO LONGER NEEDED.
FUESDAY, JANUARY
worse confounded and immensely adding to the risks of everybody concerned. We suggest, there- fore, that it is high time the authorities decided on a date, say a year or two years ahead, when no rickshas will be permitted to ply either on the island or the mainland. Let us recognise the fact that rickshas have had their day.
Whiist on the subject, we would
ર્યા
refer also to another growing. nuisance and danger the pre- sence on our busy thoroughfares of innumerable young cyclists who have the haziest ideas of traffic rules Cycling is evidently be coming a now, craze." amongst Chinese youths. There could be no possible objection to this if the young enthusiasts went out into the country for a spin; the mischief is that they confine them- selves to the busy parts of the island and the mainland, ‹dodging in and out betweeen the traffic and indulging in all manner of trick riding. They, are a danger not only to themselves but to all other
users of the roads. The evil is becoming more pronounced every day, despite the 'punishment of offenders when brought to Court. Failing the closing of certain thoroughfares to cyclists, it would perhaps be a good iden to licence all push-bikes. That would tend to decrease the number of machines in use and also enable a better control to be exercised over the cyclists: Sooner or later, omething will have to be done; in our opinion, the sooner the better.
smart
·Mr. Snowden's" Triumphs. " The extraordinary domination exercised by Mr. Philip Snowden The Hague is a remarkable personal tribute. It also shows to
„Shitkret-Victor Orchestra
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Bolla Feelin' for you--Fox Trot...
22043-The Wadding of the Painted Doll
犷 Pagan Love Song
X 22057-Singin' in the Rain
Orange Blossom Time
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If I had a Talking Picture of You,
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"
•
... Johnny Marvin Hamp's Serenaders ...Rudy Vailer's Yankee, X.From Metro-Goldwyn-Mayer Picture. "Hollywood Revue ".- of 1929-showing at Queen's Theatre on January 25th.
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|
CORRESPONDENCE
The Currency Problem.
[To The Editor of Hongkong Telegraph.]
Sir-An intelligent analysis of my currency suggestions I never for a moment anticipated, but as ferable to being frigidly ignored, I am genuinely grateful to "Poli- tical Economist" and "ynicus" for their benevolent retaliation. The anag in my policy upon which they are both concentrating
a commodit backing would present unsurmount appears to be that able difficulties in a crisis. Now, the biggest financial crisis that Britain has ever experienced with her gold standard was the outbreak of war in 1914-and what happen ed? A rush on her banks was in- evitable, as "The Great Blusion" predicted, and had we relied on gold for our salvation, we should have lost the war before we had started. We wisely declared a moratorium, Instead, which macant that holders of paper money obtain- ed the Government's guarantee of the "nation's commodity wealth as their security.
Without further amplification and encroachment upon your space this, I think, effectually disposes of "Political Economist's" babies bottles, bags of rice and tins of tomatoes, but it will do no harm to Inform "Cynicus" and him that of Bome of the biggest our financial authorities are very strongly inclined in the direction of a commodity basis. Such men as Sir Peter Rylands, Mr. Goodenough, of Barclay's, Mr. McKenna and Sir W. H. Goschen were among the keenest opponents of post-war de flation to get back to the gold parity.
So far, so good, I am directed to advise you, Mr. Editor, that on the evening of the 18th instant, after a very enthusiastic debate, the fol- lowing resolutions were passed at the second meeting of the Kowloon Emergency Currency Advisory Committee?:
(1) Silver dollars to be im- mediately called in,
(2) The note issue to be at once adjusted to bring the purchasing power of the dollar back to that obtaining in October last,
(3) Note-issuing banks to come under Government supervision.
(4) Gold and silver reserves to be abolished and the proceeds of sale of bullion to be invested in British gilt-edged securities which will be held by the Government same need for these man-power of his former "Erlumpli, e of Hongkong as security against vehicles as there was in the days greatest of his career, and once the paper issue. This will wipe when they represented practieally again involved in the complica: out the uneconomical practice of Lions and qufbbles attached to re- hoarding บก unremunerative wealth and will, incidentally, parations discussions, Mr. Snow- and we have accordingly seen a den has maintained his high re-iles of gold and silver for their mean the release of large quanti perceptible diminution in the putation in no uncertain fashion. legitimate industrial functions. number of licences fasued. Evon | No other man could talk like Mr. (5) The note issue to become the RD, there are still far too many Snowden has talked and succeed. Government of Hongkong's respon- the Colony's cum- rickshas in use. At the moment, No other man buld be so blunt sibility, with
modity wealth as backing and a we have not the figures beside us, and so impressive at the same fixed general price level as its time. Such is the privilege of basis. (I wonder if "Political but there must be still well over
prestige. The Continent indeed Economist" realises that British in two thousand of these vehicles
has recognised the full qualitiesdustries are now being crippled by operating in Hongkong and Kow- of the man. They realise that he taxation to cover the £7,000 million of the 1914 loon. The growing popularity of is not out to court popularity, and war debt-the result
moratorium and commodity 'motor transport is, as we have worries not at all about diplom-
guarantee7) said, limiting the scope of these but that if he holds any views at rickshas, and in course of time all, he is prepared to express them strongly and unflinchingly. He is even the operation of this factor listened to with respect because he contage to remain stationary so will drive them from our streets does not beat about the bush. At maintained between certain speci- long as the general price level is entirely. We seem, however, to the conference just drawing to a fied limits and to be increased as have reached a point when the close he has personally turned the dollars's purchasing power process should be expedited by impending rupture into success on rises or falls beyond those limits. The Committee considers that further action on the part of the three oceusions. The biggest pro-when it has succeeded in enforcing
blem of all he brought to negoti- these proposals, the inherent stabil able distance by rallying the ity of our currency will not only give German delegates on their lack of a marked impetus to our trade, but by tramears, taxi-cabs and public-[self-reliance. "The Little Entente will result in the Government of
authorities.
па
Apart from the facilities offered
In
mission, but his manner of doing
our
(6) The note-issuing banką to pay a specified percentage for the of the currency, that per-
UKC
lending banker of South China, Hongkong becoming the money- thereby introducing a new source of wealth to the Colony by virtue of our geographical position relative to war-ridden China and the com- parative security of our wealth. Yours, etc.,
ONLOOKER. Secretary The K.E.C.A.C. Kowloon, Jan, 20th, 1980.
evening on reading the comments Sir.-I confess to a chuckle this
1930.
DAY BY DAY.
OCCASIONAL DEPRESSION NO ONE CAN AVOID, BUT IL TEMPER EVERY- BODY-Feuchtersieben,
The Very Idea!
Dr. Bernard Hollander, has been. "saying, that children simuat ber,
Mr. A. el Arculli is to distribute taught self-control, that habits of the prizes at the Ellis Kadoorie ayetem, order, punctuality, tem Indian School on Thursday morn-perance, self-reliance, and per
savarance may ba their salvation: in after life, and that young! ing.
cult art of facing life as it is, and people should be taught the dim- not as it is hoped, expected, or feared to bo. Al of which is very true, even if it be somewhat Victorian.
HLE. the Governor has kindly consented to open the new build ing of the Ying Wah College in Bute Street, Monkok, on Friday at 11 am.
݂ܕ
is drawif to the fact that the The attention to local Scotsmen Burns Dinner le to be held at the Hongkong Hotel on Friday at 8
The difficulty, it seem, lies in great majority of older folk sce that phrase "life as it is. The life at a different angle from the younger generation different, it P.m., and not on Saturday, as pre-may be, from their own.angle when viously advertised.
they were young.
The dollar was up a farthing Johnson (to. his neighbour's- this morning, compared with yea-amall daughter, whom he has seen terday, the demand rate being coming out of a telephone box) = 18 7.1/16, This is the first time But, surely, Sane, you can't use since the 6th instant that it has the telephone?
Jana: Oh, no! I went in there to passed the la. 7d. mark.
keep out of the cold.
*
The master of a trading Junk was fined $10 at the Marine Court (It has been stated that one row. this morning before the Hon. son for the neglect of Shakespeare Commdr. G. F. Hole for causing is the fact that he brings but little an obstruction in the Southern revenue to the theatre bars.) Fairway by anchoring his boat there,
A complaint has been received by: the police from Mrs. Ogdin, residing at No. 11, Victoria Barracks, to the effect that as she was walking up Battery Path about 8.16 Inst night, a Chinese snatched from her hand a bag, containing money and personal letters to the total of $20.
•
On a charge of returning from banishment a Chinese was sentenc“. ed to twelve months' bard labour and twenty strokes of the birch by Mr. Whyte Smith at the Kowloon Magistracy this morning. Another man, who was banished for five years in 1929, was given eight monthe hard labour and 10 strokes of the birch.
Gone are the nights of Othello
· 'and Oberon,"
Hamlet and Ariel, Falstaff
and Puck;* ̧. Though there are times when
we find something sober on." Shakespeare at presentis,
down on his luck, Clear Is the reason: the voice:
of authority
Whispers, "He Isn't as dry as'
they think, Business demands a' big, thirsty'
majority
Let's produce plays that will
drive them to drink!"
"But, my dear, whatever do you "A now hat" want with another new coat??
Spain is about to honour ther:7. memory of Rodrigo "de › Herete, Cruelty to twenty-six pigs by who, it is claimed, was the first sitting on the crater was alleged man to smoke tobacco in Europe, he lived in against eight Chinese who ap. by fixing a memorial tablet on the peared before Mr. Whyte Smith at house in which the Kowloon Magistracy this morn-Argamonte. Rodrigo de Heretz ing. It was stated that the pigs accompanied Columbus on the were being taken to the Slaughter expedition which led to the di
America. Rodrigo House on a lorry and the defen-covery of dants were sitting on the crates, brought back leaves of tobacco, which he smoked, much to the Each defendant was fined $6,
horror of his family. His wife, A fine of $8 was imposed by 4 good Catholic, denounced him.to Mr Whyte Smith at the Kowloon the Holy Inquisition as a man who Magistracy this morning on swallows fire, exhales smoke and Chinese who was charged with is surely possessed by the devil- causing cruelty to a number of Poor Rodrigo was arrested and chickens by carrying them in a imprisoned for many years, purpose. It was intimate sted crate which was too small for the the fowls were in an exhausted condition when taken out at the Police Station.
Arrested in Queen's Road West
+
wife used ms as a sort of punch- ing bag, and, I got in the first blow.
self-defence.
Husband at North London: My
in
The better the music the greater. the obstruction. Mr. Mead at Marlborough-street.
own
yesterday, carrying a cardigan Woman to man summoned at Jacket believed to have been stolen, Pengo: You tore your
Chinese was remanded by Mr. trousers in trying to stop your Hamilton at the Central Magia-
pocket, tracy this morning, while an endea-wife taking money out of the your is being made to locate-the
Solicitor at Kingston-on- owner of the garment. Anyone Thames: In many post offices it. who has lost a cardigan jacket with is impossible to get to the counter. a label marked "Fleming Reid & because of the people sending Co., Greenock" is requested to telegrams to bookmakers, to the
Inspector Government are
with communicato
Bloor, of the No.? (West Point) makers' runners. Police Station,
really book-
Willesden Emplover: Lam generally suspicious of my mén, but I was not of this, one, and he.
to proceed with it as soon as "On-robbed me of £20," locker" has elaborated the cure contained in the last paragraph of his letter by answering the following questions:
WHO WAS.
(a) Can Hongkong although ad. mittedly a follower in economic and HONEYWOOD? other fields, and being essentially throw off its economic bondage to no more than a verdor of services, China?
(b) How is the recommended allver exclusion policy to be carried out by our bankers?
(e) Why should the onus be thrown on Bankers of retaining silver pending an expected recovery on restriction of output?
And arising from these questions,| and merely to save time:
suggested to counteract anles for Indian account which acted, logi- cally, as a dominant bear factor over the market?
hire cars, a new factor has come took a new view of their problem into prominence in recent years, when he pointed out the never get namely, the opening up of many anywhere nature of their methods, while an agreement between Italy districts by motor-buses. Both on and Czecho-Slovakia was reached the island and the mainland, there in almost record time after Mr. has been progressive development Snowden had pointed the way. along these lines, with the result As at the First Conference, Mr. that it is now possible to get Snowden's achieveddents have been in the inghest sense, for successes almost anywhere by bus.
not only has he accomplished his Hongkong, the services maintain ed by the Hotel and Tramway it has earned the admiration and of "Political. Econovíist” and proposed to restrict the enormous Companies have been extended so good will even of the men at "Cynicus," both provoked by "On-
to cover practically all the variance, populated areas, whilät in Kow- loon the excellent facilities pro- vided are always being extended, with like resulta. It therefore Paris follows that there is less need than New York
Brussels ever before for the ricksha. Much Geneva mare" important than this fact, Amsterdam
Milan however, is the danger created by Berlin the presence of so many man-Stockholm
Copenhagen drawn vehicles in the main streets | Oslo. of Hongkong and Kowloon... We Vienna have now reached a stage at which HelsingforsS
Pragus
it can be said that to ride in a Madrid Lisbon ricksha in our principal thorough- Athens fares is to invite a mishap. What Bucharest with trams, taxis, motor cars and Buenos Aires
Rio
buses, there is really no room for Bombay the humble ricksha, As things Hong Kong
Bhanghai
Yokohama are, however, we see these vehicles
Bilver (spot): dogging about amidst the congest Silver, (forward) ed traffic, only making confusion
(d) Granting, that a low price. output of silver mines, how is it might automatically restrict the
supply of the metal obtained as s looker's" letters. The absurdity of by-product, and what are the steps adding bananas to a suit of clothes brings to my mind the story of EXCHANGE RATES.
the divinity student, who over- estimating the desire of his ex- aminers for recruita for the Despite the fall of almost four London, Jan. 20,-**
128.02 Church, hoped to obtain Ordera al pence since October, the exchange 4.885/32 though he baulked a set question on value of the dollar at its present 34.865 the Trinity by a long dissertation market price of 1.7.3/4 is still some 25.106 on the minor prophets.
7% above the price of silver plus .12.11% So with "Onlooker in his letter minting charges and cost of trans- 02.09 of the 14th instant on which no-portation and, subject to present 20.37 body has liad any comments to prices, there would seem to be no 18.1 make. And I agree it is difficult obstabla for a drop to about 1/8. if not impossible to follow the The effect of the inevitable récogni 84.62 column and half devoted to the tion that silver is the basis of our 104% letter. On one point, however, Icurrency (as opposed to that loose 193% will join issue with him, namely on term reversion") has not yet, .87.006 values the estimation of which, actherefore, been completely felt, but 108.25 cording to my experience, involves let me tip: "Onlooker that plums 276 the consideration of the other fel- are still available for the picking, 818 low's ideas, and an often as not its not by a one-sided speculative for 516/82 acceptance to. The value of a com-ward purchase of sterling, but by 44% modity, therefore, is not measured such a purchase in conjunction with 1/6 15/16 endusively by its worth to our the importation of dollars for its ***** 2/0 sélyes, and in proof. I might cite the payment, giving a pront of more dollar or even a banner than 30.000, on £10,000-Yours, *72/03/18:
Pardon my lapse into facetious 21-1/18 3
ete
OBSERVER, 120 3/16 neas in this very serious discussion,
18.105 .18.215
instanzas, and I will now declare my readiness - Hongkong Jan: 21st 1980,
The
trouble with Mr.
· Honeywood was that he was. "far too good-natured, far too. anxious to please, far too ready to give and to give way so that by the very excom of
his benevolence, he laid-up. for himself endless trouble and disappointment.
His greatest wish was to be beloved by all, and in attempt. ing to attain to this beatifie ** state he fell « victim to "all"
his orbit, all the snobe and the rogues and scoundrels in
sycophants, and the tribe of the undeserving in general. » It was left to his sensible [old' uncle,' and to Mias Rich- land, who loved him in spite of his spinelessness; to rescue him from the morass of fl advised liberality in which he was floundering, and to maloe him realise the futility of his methods. In the end, he saw his mistake and confessed "Though inclined to the right, I had not the courage to
condemn the wrong: my charity was but injustice, my benevolence but weakness my friendship but credulity A The very apposite tille od the play in which Mr. Honey- wood figure In The Good Natured Man," by Oliver Goldsmith It is almost certain that in this the central character of the the author WAS satirising his :
weachers
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