1930-04-19 — Page 3

The

9.E.C

your quarantee

THE HONGKONG TELEGRAPH. SATURDAY, APRIL 19, 1930.

POWER STATION EQUIPMENT

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CHINESE CHAMBER

AND SILVER.

A SUGGESTED BAN ON OOREIGN COINS,

Y.M.C.A. HEALTH WEEK

LECTURES, EXAMINATIONS AND VACCINATIONS.

The annual health week at the Important decisions by the Chi-Chinese Y.M.C.A.. under the nese General Chamber of Com-auspices of the Chinese Y.M.C.A., merce regarding the currency pro-Chinese YW.C.A. and the Chinese

Medical Association, which the

opened by the Hon. Dr. A. R.

blem to be submitted to Currency Commission

for

was

students and 55 others, a total of Ambulance Brigade members, 21

in

consideration, were reached on Wellington on the 9th instant, has Thursday afternoon at a special the week 27 doctora, 3 nursos, 30 been brought to a close. During meeting at the Chinese Chamber

Mr. Li Yick-mui, the Chairman, was supported by the Vice-Chair-136, gave their services voluntarily. man, Mr. Chau Yue-teng and Mr. The following figures indicate Chan Heung-pak, the Secretary.

brief the work that was done: The Secretary explained that hệ had received a letter from the Currency Commission requesting the Chinese General Chamber of Commerce to give their views on a series of questions relating to】 the currency problem.

|

Lectures in the building. 11. Attendance at lectures, 4,120. Lectures on the street, 5. Attendance at street

1,590.

lectures,

Health talks on the radio, 8. Attendance at exhibit of health charts and books, 5,248.

Physical examinations, 510. Vaccinations, 373. Pamphlets on health subjeels distributed. 17,000.

Mr. Ghan Heung-pak announced that the first question to be con- sidered was whether the present; currency was the most advantage- ous for the purposes of the trade of the Colony. Mr. Ip Lan-chuen, commenting on this, said that as Thanks are due to the organisa- the Colony was using the silver tions under which the health week alandard which was the аде was conducted and to all the standard used by Shanghai and volunteer workers who gave their Canton, it would be detrimental to time freely to present the claims local trade to use any other ex- of health of all comers. change. If they did then the trades-people in Canton would find it more profitable to order their; goods from Shanghai which used the same money standard as Can-

ton.

Small Traders Suffer.

In connexion with the silver standard, the opinions of members in the Chinese Chamber of Com- merce differed. There were many complaints about the big dollars used in the Colony.

any

Tonkin were unable to do business for some months. They preferred to take very small or ders than to suffer heavy loss on exchange.

"A general increase in the price. of rice consequent on the silver standard, is having a most detri- mental effect on the Chinese popu- lace, who depend entirely on rice as their source of daily food," said Mr. Li Yau-tsun, C.B.E., who! Mr. Chan Pak-chuen. Mr. Chan was formerly the Chairman of the said that by using Mexican dol Chinese Chamber of Commerce, lars, individuals lost about ten said that the big dollars were hay cents a day on exchange, which ing a bad effect on small traders Came to about $100,000 in a day and Chinese street hawkers. Mr. for the whole population. Li pointed out that the majority

Mr. Li Hoi-tung said that it of the hawkers were doing only a

was obvious that there were far few dollars' business a day. Now. Loo many dollars in Hongkong adays they were forced by their than were necessary and

some customers to accept Mexican dol- means should be found to check lars at their full value. When importation. producing the same dollar to money changers or native bank. the hawkers only obtained some- thing like ninety cents or at the most ninety-five cents. The small traders and hawkers were being heavily hit.

What the P.D. Does,

Two members commented on the fact that while it was officially un- nounced the Government was ua- ing the silver standard they found on producing a Mexican doller at The Secretary announced that the Post Office, it was rejected as he had received a letter from the not representing a full dollar's Chinese Fish and Vegetable value. Sellers' Association complaining After a lengthy discussion, the of the Mexican dollars, Bay meeting decided that the present ing that by having to accept currency is not detrimental to the these, they were suffering a loss trade of the Colony. The motion of about $6 to $7 in every $100

was proposed by Mr. Ip Lan-chueri worth of business done.

and passed unanimously.

Mr. Chan Pak-chuen mentioned that in their daily routine

The other suggestions, mention- the Nam Pak long firms were accepted earlier, to be submitted for the

consideration of ing a few thousand dollars of big

the Currency dollars daily. Mr. Chan estimated The meeting decided to elect Mr. Commission, were also passed. that apart from the many incon-Li Koon-chun to represent the veniences met with in foreiga

banks concerning these dollars, Chinese Chamber of Commerce to his firm had to suffer a loss of report to the Currency Committee about $16 by tendering $1,000 for on the discussion and to put be- exchange purposes. $16 * day the

fore the Commission the views of Chinese Chamber of Com-

came to $180 a month, and by thei time the end of the year Was reached the management of the

merce.

The Chairman said that as the

firm found they had suffered a meeting had expressed the view very big loss.

The Rice Firms,

that the silver currency was satis- factory, there was no need to pro- ceed with the second and third questions set forth by the Cur- rency Committee

Further criticising the silver dollar, Mr. Chan said that since the adoption of the silver stand- The meeting made no comments ard, the Chinese rice firms im- on the last two questions of the porting rice for exportation, from Currency Committee relating pluges using the gold standard, the linking of the currency with suffered considerably. Some of silver and the contemplated stabi- the Chinese rite firms dealing with | lízation of the dollar.

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