1933-06-12 — Page 6

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Phone: 281512

THE HONGKONG TELEGRAPH.

NEW

MONDAY, JUNE 12, 1933.

it up were fully aware of the présent crisis, and were propar- ed to lay aside nationalistic pride and rivalry with a view to securing world - prosperty. If the attitude which character- ises. the document can possibly

STUDEBAKER be maintained by the Govern

AND

ROCKNE SIX

CARS

AT

GREATLY REDUCED

PRICES.

HONGKONG HOTEL

GARAGE.

Phone 23124. Stubbs Road.

DEATH. KRONHAUG, MONRAD NIKOLAI, 20 years old, accond Engineer s.. "Kronviken," died this morning at The French Hospital. Funeral will pass the Monument at 4 p.m.

to-day.

The'

Hongkong Telegraph.

MONDAY, JUNE 12, 1983.

WORLD ECONOMIC

CONFERENCE

monta themselves, in spite

WORLD

CRISIS

III: A UNIQUE SITUATION FROM WHICH THERE IS NO ESCAPE

BY FREDERICK COPE, A.M.I.EE.

of opposing political, considera-

(This, in the third of a series of out of sixty on the real gold standard, tlons, the success of the World Economic Conference is assur-timely articles upon current industrial, and economic chaos is the rule.

local contributor.)

We will now turn to this aspect of All that has been said so far the economic question the aspect of

cd.

monetary and economic problems by a│.. PHYSICAL WEALTH.

The Very Idea!

A DOCTOR WHO TELLS By Eddie Kally, Quack. - SALLOW faced and flat chested, we stand forth the representative of those people who cannot, to be and don't want healthy.

ጋዜ

Doctors may be alright in

their places, such as cur-

T. V. Soong. is very well for internal trade, Physical Wealth. What has happening chilblains and amassing Let us make a large fortunes for them- but when foreign trade is coned in this field? sidered a different. set of cir-fundamental examination of this selves, but let them leave us

For the purpose will de alone. question

of this Mr. T. V. Soong has had a

cumstances appear.. A paper article, in the first place, we wonderful reception in London, instrument is again called into fine Physical Wealth as the result of

We are proud of our ill-health. Material plus Energy. Every com-

Every time we cough,, people. where he will be China's chief

In normal times, Mr. Bull of Lon-modity possesses these components. representative at the World Play, termed a bill or draft. and

with Muscular energy was employed to whisper about our chest, and us. Why Economic Conference,

don, in order to pay for goods in New whore, at the same time, ho York, pays sterling in London for a fore the Machine Age. A man tilled sympathise may do much to cement Anglo- dollar draft. For the reverse pur- the soil with his own energy, with should we be foully done out of.

or oxen. Material plus Energy re- Chinese relations. Mr. Soong Poses, Mr. Samuel in New York would the assistance of the energy of horses a complaint we have had for has been Finance Minister of Pay, dollars for a sterling draft on suited in Crops. These were reaped years?

London.

Chinese governments, first at Canton and, then at Nanking, since 1926, and is regarded as the foremost Chinese financier

..

In London the dollar selling is sot off against the dollar buying. In New York-the sterling selling is not off against the sterling buying. If the

balance.

and transported by energy for ultimate use. Our houses, roads, motor-cars are all the products of material and energy in soine form.

From the early times up to the time duction of goods steadily increased If the amount of drafts on Now and man gradually became wealthier. York exceeds those on London then From the time of Watt's Steam the Now York Banker is offered more Engine, when mechanical energy bo pounds than he wants or can segan to be substituted for muscular consequently, he will only buy the ex- energy, the rate of progress was ceas sterling at a discount. In normal quickened and over the last twenty times, this is one of the causes of the years the rate of progress has been variation in the rate of exchange. If phenomenal, so much so that it has the balance becomes too large gold outrun our ability to utilise and take

advantage of it. shipments have to be made.

of his generation. But he has trade in equal the draft account would of the invention of machinery, pro

Take dentists, too. They've often got a nerve the way they want to fool around with drills, and pyrohhen and other dental terms.

Doctors and dentists. are too eager with their needles and things.

The Rate of Exchange is the rate We have now arrived at the which the currency of one country paradoxical or inane stage of having will exchange for that of another. In produced a large supply of almost countries are off the guld standard the only purpose our imagination an a condition in which a number of overy conceivable commodity, and

Things were different when we. Wo would have and a few countries are on a silver find for it is destruction.

were a doctor.

tho B.M.A. Commodities which at one time re-still been one, only basis, the rate of exchange is a very variable factor, and one which is very quited a laige amount of human ofort are now mostly produced by obstructive to trade.

mechanical energy.

In Hongkong, we are aware that at one period £1 sterling cost 34, and at another it cost $22. In other words, we may say that if a package of tea in Britain is priced in terms of gold £1, the price in Hongkong dollars for the tea has ranged from $4 to $22. This brings us to the price system.

PRICE SYSTEM.

become more than a financial genius in China; he has become the standard bearer of enlighten ed Chinese progressivism, fight ing intrenched feudalism, slowly pushing back the guerrilla mili- tary incubus which has grown out of feudalism, and attempt ing to develop a genuine patriot- ism and concern for public welfare in a country where the family's interests always have stood above those of the nation. He has steadily enhanced both

found us out. power and reputation. In China

You've all heard of the "Diary. he is regarded generally as the country's outstanding states-

The startling fact of the day is of a Doctor who Tella". Well, we'- man, a skilful diplomat in the

that we are increasing production and re going to give you the "Diary realm either of Chinese or of

decreasing labour at the same time. of a Doctor Who Doesn't Tell- Western politics. A solution of

The longer we go, the more emphasiz- Because He Can't".

Difference between us and the Chinese "problem" has be-

ed this will become, until only fraction of human labour will be re

a lot of other doctors is that come distinctly more important

quired. To those who have ambraced

we're game to admit it. to the world at large during the

the idea as a moral law, that last two years than it has over

Man, in order to justify himself MONDAY, June 5.. Called on been before. Japan has ended The package of ten has not altered must give a considerable amount of Mrs. Brown this morning. Told by intervention: the period in real value, it is just the same time each day to the production of her all about our lumbago; how it This enormous discrepancy between physical wealth, the position must affects our arms and legs and during which the outside world the real value and the money value of present a serious state of affairs.. had already to wait patiently the article makes present day monoy

The facility of production, pre- keeps us awake at night with the for China's leaders to restore appear to be a doubtful measure of ponderance of goods, the shifting of pain. She advised us to suck a raw the burden of work from Man to lemon and drink plenty of gin every The atmosphere on the eve of order from her own chaos, and value.

Wonder if there is anything in the opening of the World Econo- the outcome of the undeclared

A very desirable quality of good nuachine, are phases, or fat sorrows, morning.

these grandmother, remedies? mic Conference is altogether Sino-Japanese war, is not yet money is "Stability of Purchasing by which, in the future, we shall be

Power"

TUESDAY, June 6.-Mr. Talpan We certainly like to feel relentlessly pursued..

came to see us this morning. - Ho favourable. A sort of hopeful clear. Nor is it clear whether that the money in our pocket will buy

It is not possible in this article to has lived well, all his life, ina n pessimism rather than of confid-the Chinese and Japanese can tho, same article or obtain for us the settle, their quarrel without samo service to-day, next year or

years hence, making allowance refer to the innumerable facts and craving for alcoholic stimulants and ence prevails. "Nations have dragging in other reluctant twenty yell in costs, due to improved indications, but amongst others we a bad liver. As he always pays the been too busy devising bargain- nations, or whether Chinese productive methods, when it should will take one or two quoted in a re-shroff at the end of the month, it

cent article by Howard Scott.

doesn't pay us to be rude to him. ing weapons to justify the belief factions can agree sufficiently buy more.

We examined him all over, slap An artificial silk- It is evident that the present money

મ themselves to make that comprehensive agreements among

an possible ageement with system does not possess the virtue of in operation in the United States, ped his back, punched him several will be easy of achievement, and

times, andstoried-in" for five In such stable industry as flour minutes. "Never seen you fitter" furthermore, the shadow of the help to clarify these uncertain-services can be efficiently measured

said although alling

the last 30 years, wo during war debts question still hangs ties. As a practical financier, he and expressed in terms of gold or any over London. Until this has knows that continued friction other metal, leads us to one of the three out of every-four Mills have like the way your log Jumps. Why released. The He asked "How much?" and been cleared away, the delegates between China and Japan is bad burning questions of the day. It is closed down. One out of every five not have an X-ray?"

held by some authorities to be the per

Persons--has been.. will be clearly working under a for business in both countries. crux of the present World Crisis. have been re-when we said $60 he looked relieved As a professional statesman, he Gold rossenses very little utility value duced, and yet a twenty por cent and told us he expected it to be at

In the strel Industry, during the least $200.

Must remember to ask for moré betwoon gold and goods and stress need not be placed upon the Sino-Japanese dispute is ship it is therefore argued that same period, labour decreased from

WEDNESDAY, June 7-Tried this aspect at this moment. Pre-a matter of world concern. In gold money cannot provide a good 70 man-hours per ten to 18 man-hours next time--still kicking ourself. sident Roosevelt must declare London, far from the passionate price system. But that is another part production to-day 61 out of hard to persuade Robert MacWhir ter to have an operation for ap question.

70 men are released, every himself, one way or another, this atmosphere naturally aroused by

The present monetary system is

In the motor car industry, labour pendicitis (He doesn't need it, but conflict in China, Mr. Soong may certainly an unreliable instrument. week, and it is hardly to be supe be able to talk through with It is delicately poised and soon thrown has decreased from 1,291 Man-hours we do). Remembering yesterday's asked for $250. to 02, and within a short experience we posed that he will jeopardise Japanese

mako matters per vehicle and disinterested' out of gcar. To what prospects of success, exists statesmen a formula for setting worse, the war debts and reparations pace of ten years from 10 of MacWhirter dropped in a faint, and by adamant insistence on full | the dispute which has aroused of the Great War were unduly loaded hours to 92 Man-hours. The rate of it took half a bottle of whisky to

TECHNOCRACY.

mill will soon be

of Purchasing Power" disponsing with all labour, except one "Stability Japan. Mr. Soong's visit may Whether the value of goods and man on a switchboard.

ཐ

WO

disadvantage, although too much understands-that settlement of of itself. There is no eloso relation- Increase of production has occurred.

the entire world's anxiety.

Makers. of Music

"

payment of the June instalment, Leaving this on one side, there- fore, to examine the agenda for the Conference, we find that it deals both with financial and "Music should be, and ought to economic questions in detail. It be, the greatest of popular Loffers a broad plan for the re-arts." You will not find this quoted in any biography of storation of prices and the resus-Beethoven. Neither is it includ citation of world trade. The ed in any obiter dicta of Kreisler, official representatives of those Mary Garden, or Paul Whiteman governments which participated The author of "A Defence of in the formulation of the pro- Philosophic Doubt" said it. The gramme have commented upon speaker was Lord Balfour, one the scope of their plan in the time Britain's Prime Minister, at the 1909 Royal National Eistedd- following words: "It will not, in fod of Wales on a subject always our jugdment, be possible to close to his heart-the democra- make progress by piecemeal tic nature of music. This irter- measures, A policy of 'nib-esting sidelight on the diplomat-

not bling' 'will

solve the ist and delver into philosophy, crisis. We believe that the narrated entertainingly in the London Musical Opinion, leads the Governments of

world

the reader to sober reflection on must make up their minds to the decline of music "made in broad solution by concerted ac- the home." Aside from the fact tion along the whole front. Ac-that, in Lord Balfour's carly tion in the field of economic re- daya the concertina enjoyed a Intions dopends largely upon certain vogue even in the salons of the elect, can his predllection monetary and financial action be lightly laughed at even in this and vice versa. Concerted moa-mechanistic age? Moderns whose surce in both fields are essential solo musical accomplishment if progress is to be made in rests in turning a knob might either." The official position of well pause to ponder if the those who make this comment easily-won entertainment of the radio can ever equal, the charm lends these forceful words pecu-evoked by individual attainmenta Har Importance, and also sug within the family circle. Tha gests that the outcome may gramophone and the radio have finally depend upon the weight their rightful place, but to those of expert opinion arrayed music lovers who discipline against political considerations. themselves to "make their own owes more than it commonly The agenda gives every Indica music" in the home the world tion that the experts who drow

suspects.

same

abtain the to

revive him.

don't

en to the system which previously progress was such that 212 men out

HURSDAY, June 8.--Young was scarcely strong enough to deal of every 818 employed are now re- with the rapid expansion of Commerce leased, and the same work accomplish- and Industry. It almost looks now ed. In 1929, four million more Henry Havailing rang us up this as if the last straw has been placed motor cars were made. With 85 morning, and spoke rather nervous- million less Man-hours than were usedly over the 'phone. Ha is coming upon the camel's back,

This is patent to-day when there are in 1919. not more than three or four countries

(Continued on Page 7.)....

WHOLESALE

GROCERIES

"O.K. Go ahead and stop buyine from

tough time, you have Anding real cho

ww

HANG

SUN LE

over to see us at 7 to-night. We can guess what's wrong with him.· Henry is a young man of 24 who spends too much time and, monoy- on the reckless side of life. It only all young men, who live in the Far East would realise how these mishaps, they consider as trifles and not worth worrying about, may lead to ruptured lives and cause even their aweethearts to turn away from them they would have it at- tended to at once. There is nothing" so disagreeable as hollotosis oven your Bost Friend won't tell you so we think a prescription for a mouth wash and some Listerine will fill the bill for Henry Mi

FRIDAY, June 9.--Have not. boon feeling at all well. Develop cd high fever early this morning, so decided to visit one of those her ballets. One cannot afford to take: risks out in this part of the world..

POLICE HUMOUR.

It was seven o'clock in the morn Ing. It might hava boon a little earlier, when he came to the door- and awakened the household with his knock,

He was a policeman, a big game hunter to boot. He wanted to kee the licences. for, the dogs in the garden. The inmates had been, put until four sam but what did that matter with the majesty of law concerned.”

What! You don't see funny In that?ary

To be quite frank, with incense and myhre, neither do we Bib you must not blamerun That police humour, not Kell kumður“ It just shown out what cVIBES OF reading Sexton. Blake fiction Your spare time.