1932-11-09 — Page 19

THE HONGKONG

TELEGRAPH. WEDNESDAY, NOVEMBER 9, 1932,

LANCASHIRE'S TRADE WITH CHINA AND INDIA

CHANCELLOR AND BIMETALLISM

STRONG OPPOSITION IN

LONG REVIEW

London, Nov. 8.

REFUSAL TO GIVE ANY ENCOURAGEMENT to

advocates of bimetallism was the keynote of a noteworthy statement by Mr. Neville Chamberlain at the close of the three-day non-party Commons debate on unemployment.

The House adopted, without a division, the Labour motion expressing Parliament's concern at the present

Sir Robert Harne.

Mr. Chamberlain.

volume of unemployment and welcoming all measures to deal with it.

Mr. Chamberlain ventured a long review of mone- tary factors in rebutting the arguments in favour of bimetallism, stressing that supplies of silver are in- adequate and that the central banks would cer tainly not agree to accept a certain proportion of silver at a fixed ratio to gold.

UNEMPLOYMENT DEBATE CLOSES

Mr. Neville Chamberlain's view of the monetary situation was | possible. made in reply to a speech by Sir Robert Horne, the noted banker advocate of bimetallism.

LIBERAL VIEW.

would be taken at the World

in

rose the value of China's currency. rose also, together naturally with China's purchasing power foreign markets. But then China's selling power decreased and ordinary economic lawa began to operate.

INDECENT ADVT.

MATTER

t

THREE CHINESE PAPERS FINED

Then again, in the case of China, he did not find in the Woo Lal-man, of the Wah Kin figures that they bore out the view Yat po, Ho Nga-sun of the Taun that a change in the value of silver Wan Yat Po, and Ko On-yee, of the made a corresponding difference Tung Ah Yat Po, were summoned

RADIO BROADCAST

EUROPEAN LECTURE FROM STUDIO

From Z.B.W. on wave-length of 256 5-7 p.m. Chinese Programme.

Chinese Children's Pro-

In the value of China's importa. before Mr. Schofield at the Central metres (845.k/c).

thin morning for

Imports into China fell only ten Magistracy per cent. during a period when publishing indecent, advertisement silver fell by 27 per cent. in value, matter in their respective newa-

papers.

Without being dogmatic about it, he was unable to convince himself that is rise In the price of silver would have the value effect clafmed on the trade of Lancashire with China and India.

SILVER AND GOLD.

Appearing for the first two named, Mr. Campbell wald;-My clients plead guilty. I am in- structed that this form of advor- tisement Lakes up about 80 per cent, of the advertisement space in thene particular papers, and that It is not very unusual, although the wording of it may be unusual, Turning to the question of Both my clients fully appreciate whether an increase of the avail- their Hability and don't wish to be able supply of metal, either of thought they are not liable. In gold or its equivalent in silver, both these cases, this space is let would se increase the available out through an advertising man- stack in Britain us to enable the ager to clients, who from time to value of wholesale commodity time changed the form of ad- prices to rise throughout the vertisements, and on this occaaton world, Mr. Chamberlain said that it just eacnped the attention of the one must remember that the avail- | advertising man. My ellents wish able supplica of gold had ener-to apologise and ask your Worship mously increased from 1,000,000,- to be au lenient as posible. 000 sterling in 1900 to 2,500,000,- 000 sterling In 1932.

In answer to his Worship, the prosecuting police officer said that other papers had been warned and they censed the advertisements upon the receipt of the warning. His Worship considered that a MDHIANOCIVOMDIWINDBɑovnx 850. fine would meet all three

When one considered the amount of extra gold that would be necessary to make a difference

THE ANTI-IRISH. TARIFF WAR

MR. THOMAS EXPLAINS DUTY INCREASE.

London, Nov. H.

'The House of Commans to-day approved by 250 votes to 38, the increase in the customs duties on Irish Free State farm produce and livestock.

Mr. J. H. Thomas explained that the increase would be impos- ed as from to-morrow and was due to the fact that the receipts hitherto had showed conclusively that England was unlikely to collect the Amount owing.--- Router.

| 28|13|3|2008

GOLD DISCOVERIES.

cases.

CLAIM AGAINST FRENCH SHIP

.6.6.15 p.m. kramme.

7 p.m.-19.30 p.m. European Pro gramme.

7-7.25 p.m. Orchestral. A Village Romeo and Juliet

(Delius).

Sir Thomas Beechan conducting the Royal Philharmonic Orch. 12997. The Season's Ballot (Glazounov).

Alexander Glazoundy and Orchestra LX29/30. Danes of the Flowers (Deliben),

Lucerne Kursaal Orchestra LX30. vocal Duct Until (Teschemacher

7.26-8 p.m. Request Items. and, Sanderson).

Vocal Duct Bird Songs at Eventida

(Barrie and Coates).

Dora Labbette and Hubert Eisdell Saxophone Solo-Down In The Forest DB850.

Saxophone Solo-At Dawning

(Landon Renald).

(Cadmium).

Howard Jacoba DB880. Humorous Song-Splitting Up,

Flanagan and Allen DB895. Humorous Song-Musical Influenza. The Atishoo Opera Company DB882, Yodel-Tyrolean Yodler. Yodel-Clekoo in the Wood.

Fried! Lusser DB542. Descriptive Sketch--The Laughing

Pollcoman.at Madam Tussauds,

Charles Penrose, Kaye Connor and Company DB881. Accordeon Band--Accordéon Nights.

Gerald and his Band DB891..

Local Time and Weather

8.m. Report.

8-8.40 p.m.

Grieg's Concerto in A Minor played by Arthur de Greef und the Royal Albert Hall Orchestra conducted "by Sie Landon Ronald.

JUDGMENT FOR LOCAL Listener).

FIRM

(This Suite is kindly loaned by a

8.40-9.30 p.m. Variety. Song- They Ever Had An Income

Tix On Love. Song-liang Out The Stars in

Indiana,

Another claim akainat the French vessel, Gr. Gål. Maurice

Florence Oldham DB724. Long. II. which was sold recently Orgun Sole-tound The Marble Arch. to meet liabilities, was upheld at Organ Solo-Lullaby of the Leaven. the Supreme Court this morning

Sidney Torch DB802. by the Chief Justice (Sir Joseph Band-The "01" Song. Kemp).

Band-I've Gone Lost My Little

Yo-Yo,

The action was brought by A. Dul, otherwise known as the Sul Lee firm, of 29, Hing Lung Street, and was for $884.75, for saries supplied."

Billy Cotton and His Band IRGCD. Descriptive Sketch-The Channel

Swimmer.

Horaco Kennedy DB805. neces-Orchestral-Daly's Theatre Waltz

Memories. Charles Pruntive and his Orchestra DX319. Organ Solo-By The Blue

Hawalian Waters. Organ Solo-The Vision of

Fuji-San. Humorous Sketch-The 'Ole In

Reginald Foort DX315.

The Road.

re-issues be removed as early as to-day, one must consider that i

extra amount in relation to the

Mr. R. C. Lim, instructed by Mr. available supplies of gold in the Cho Yue-kwan, solicitor, appeared world. Sir Herbert Samurl expressed

for the plaintiffs, and stated that the total value of necessaries sup- Sir Robert Horne suggested the hope that the opportunity

plied was $1,084,75, but on the 1st The remarkable discoveries of of June $200 was paid on account, that wholesale commodity price Economic Conference to achieve gold in the nineteenth century in leaving the might be affected, for their im definite results on turlif and other California and Australia and the which was

balance of $884.75 provement, by restricting the surestrictions, monetary questions subsequent developments in the claim.

the subject of the plies of commodities or by an al-and other matters of world-wide and goldfields had produced an teration in the amount of monetary importance. Only by such means enormous effect because they were

Mr. Au Yu-pui; manager of the gold available as being the standard by which their value wato prosperity and end unemploy existing supplies of gold "but f

could they sure an early return great in comparison with the then plaintiff firm, gave evidence,

measured.

ment.

re-ta a

the

Sir Robert suggested that 08 If the Disarmament Conference gold had to increase two and a there was a deficiency of gold, due could simultaneously be brought half times in thirty years, it was to much being sterilised in

successful conclusion, it clear that no great discovery of serves in particular countries, we would go far to encourage gold in the future was going to↑ should supplement the supply of whole world towards better econo-have a similar effect upon the gold by bringing silver into account. mie conditions.

amount of gold required for He added that a rise in the price

After many other members had monetary purposes. of silver would very much im spoken. the Chancellor of Ex-j prove our trade with Indin and chequer concluded the debate China.

which he said had been most pro- ductive of idens. While he could Sir Robert Horne who was at not agree with the desirability of one time a Conservative Chancellor many of the proposals made, there of the Exchequer, observed that a were others which would receive great service would be rendered the careful consideration of the to the trade, industry, and com- Government. merce of the world if internation-

STERLING'S VALUE.

Mr. Neville Chamberlain, mak- al exchanges wore put right. Ing the final speech in the debate While there was a vast amount of a unemployment, confined him- gold in the world, nearly three-quar-self almost entirely to the sub- ters of it was in the hands of two minions of Sir Robert Horne. countries and others were de- nuded of the necessary supply. The problem was certainly one of the great factors of the present situation.

Referring to the position of the pound, he pointed out that ster- ling prices to-day were praefically

ja

He saw difficulties, he said. even in accepting the theory that arise in the price of silver would increase trade with India and China.

had not.

What would be the effect on silver? What was the amount of silver we could expect to get? The proposal was that the Central Banks Khould agree to accept a certain pro- fixed portion of silver at a ratio to gold, and that the price of silver should be the market price.

MARKET PRICE.

TO AID CHINESE VOLUNTEERS

CANTON RAISING

FUNDS

Canton, Nov. 8. Funds to aid the North-East Volunteers will be raised here by a football match between Canton

Georgo Graves and Myles Clifton 0820. 9.30-10 p.m. From the Studio. A Talk by Professor Brown on "A Recent Visit to Western Australia."

10-10.20 p.m. Musical Comedy. Helen-Vocal Gems.

Columbia-Light Opera Co, DX331. The Land of Smiles-Selections.

London Theatre Orchestra DX252. A Country Girl-Vocal Gems.

Columbia Light Opera Co. DX73. 10.27 p.m. Rugby Mid-Day Press News,

10.30 p.m. Close Dowh.

All records in the above European programmies are kindly supplied by Mosara. Anderson Music Co.

KZRM PROGRAMME. Today's broadcast from the Manila station:

Information

Information

and Hongkong teams, #1 national 5.00 p.m.Tea Dance Music, ari exhibition

and a bazaar, Period.

0.10 p.m.-Spanish bccording to a decision of the

6.30 p.m.-English Kwangtung Publle Bodies As Period. sistance to North-East Volunteers' Association.

7.00 p.m.--Studio Dialect Pro- Krammo Ilongo-Franelsen del Rosario.

7.15 p.m.-Spanish Presentation. Drew, Soprano and Lorino Nash.

7.45 p.m.Studio Programme Tonin

If it were going to be the

The Mechanics' Union has market price. said Mr. Chamber issued an appeal for funds to aid lain, there would be no great in the Volunteers who are described [ducement for those hourda to as "the pillar of the State, whose

come out of India and China. They could not come from China, collapse would mean the crumbling gramme Cebuano-Ludivina Gonzales,

of the national edifice." To Soprano. because China wanted her silver

! 8.00 p.m-Studio Dialect Pro-

8.15 p.m.-Studenta' Radio Club

for currency, unless silver rogereer the Volunteers is the duty Guest announcer-Key Howe.

Press.

INDIA'S HOARDS,

of every

Chinese eltizen, and highly in price, when she would

wholehearted efforts are neces- The Chinese, he anid, had require less silver. at the same level as when Britain silver

Supposing the price of silver aary, the Union urges-Central but currency.

India went off the gold standard and

Therefore, as far us rone to two shillings, they thus that the pound now purchased

the theory got 1,000,000,000 qunces of silver more 11 commodities than five Indin was concerned,

highest possible figure. years ago. This sufficient must be based upon the assumpthe

Was one need be tion that a rise in the value of That would only mean an addition MISSIONARIES SAFE evidence that no perturbed about the fall in ster- the hoards of silver in india equivalent to £100,000,000 gold to would enable India to do a large avaliable supplies of £2,500,000,000, iing.

He expressed the view that if trade with other countries. But That would he only two per cent. silver were once more put in an large proportion of the silver (The figure should evidently be appropriate position in relation to hoards in India wore not in a four per cont.) It would be too any appreciable the monetary system of the world, monetary form, but in the form small to make Industry and trade would benefit more than from any other single

device.

CUNARD LINERS.

of ornamente, bracelets, etc. In effect, and even the annual aup the past, India had steadily In-plies of silver were not going to creased those hoards and had not add to the visible supplies of gold used them as a means of purchaa-more than 2 per cent.

COMMUNISTS ON THE

RETREAT

|

8.45 p.m.Victor Masterpiece Pre- sentation.

9.00 p.m-Dance Music-Bay View Hotel Orchestra.

10.30 pmClose own.

JOBLESS LEADER

SENTENCED.

THREE MONTHS IN PRISON FOR HANNINGTON

Foochow, Nov. 1.

London, Nov. 8. The British and American Imprisonment for three months missionarice from Kienning and was to-day imposed on W. Yepping arrived anfely in Foochow Hannlagton, leader of the recent yesterday evening. They say that unemployed disorders in London, Yenping is quiet, and there was when he appeared before the Bow

ing goods, but for establishing AGAINST BIMETALLISM. One measure of relief he ad-social status.

He did not ace, therefore, how really no need for withdrawal Street Magistrate. Hannlugten vorated was State assistance to An examination of the varia it could be argued that the bring from there. The military, under was charged with having attempt- onable the Cunard Company to tions in the price of silver during proceed with the projected con- recent years did not yield any of silver to help out geld was, General Liu Ho-Ting, gave them ad to cause dissatisfaction among the police during unemployed dia. struction of its two giant liners. evidence in the figures of Indian the world, going to be any offec-

in the present circumstances of overy, facility for the journey.

There has been serious fighting orders in Trafalgar Square on He believed that this could be imports that she utilised her done by menna of a lonn or hoards of silver, when the price of tive help to us, even supposing we to the west of Kienyang, but the October 30.

could get what he was certain wo Communists are said to be retreat- Hannington'a arrest followed a guarantees without any coat the State. He was certain legiti- from other countries.

silver rose, to buy more goods could not get, namely, agreement ing southwards, no doubt wishing police raid on the headquarters of among all the Central Banks to to join up with their friends who the National Unemployed Workers mate ways in which the credit of

jadopt the system.

are boing pressed by the Nineteen- Federation in Great Russel Street the country could be used to help

Concluding, Mr. Chamberlain th Army in West Fukion. Thus on Tuesday. Papors in the offices industry might be discovered if

As regards Chinn, Mr. Chamber-said he was not very hopeful of things. seem very much brighter, were seized on that occasion and an expert committee word set up Inin agreed that the position was any bimetallic proposal helping and it is to be hoped that they will led to a charge against Sydnoy for this purpose.

Sir Robert Horne also suggested slightly different because China un over our present difficulties,remain" so-Our Own" CorresponJob Elias, Chairman of the move-

mont.Reuter, that the embargo on now capital had a silver currency and if silver Reuter and British Wirelesa,

CHINA'S CURRENCY.

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THE

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