1933-06-14 — Page 21

July October

THE HONGKONG TELEGRAPH

Rango

9.25-9.20 0.28-9,28

Cotton

Opening Closing

Range

September October

70%

December

81%

07 68%

9.53-0.66 0.62-0.63

Silver

9.70-9.71 9.05-9.69

0.78-9.77 9.70-9.78

9.02-0.04 0.02-0.02

0.40

Wheat

Chicage Winnipeg

July

77

644

COTTON, WHEAT

AND SILVER

LATEST NEW YORK December

QUOTATIONS

January March Messrs. Swan, Culbertson and Frita May have received the following quota. Spot tions on the New York cotton and wheat and silver exchange for yester day.

4711 Tosca- Eau de Cologne

"4711 Tosca Compact "4711" Tosca Face Foroder

POVEY OF WHALO

July

10.00-10.09 10.04-10.05 September

December

08.40 80.90 38.00

WEDNESDAY, JUNE 14, 1933.

WORLD CRISIS

(Continued from Poqo 6.)

date of issue, or after having once boon spent tog

of reward for honest endeavour, whe- or ther ho belongs to the "llaves" "Hays Note;” we have knocked the props, from under all the Black, Brown, Green, and Red Tie and Shirt! Organisations.

FOREIGN POLICY.

BANKS.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

"In examining the question of our The only currency in clrculation in Spending Money, No other form Is foreign policy, on the premise "that

· Incorporated by Marií Chartór 1211. Total sales for the day:

permitted. All purchases and pay the era of dealing in debts is draw- 304 Contracta 2,160 Contracts

ments are made in spending note cur-ing to a close, and will be followed by one of dealing only in goods and ser-

HEAD OFFICE-LONDON, (700,000 ax.) ((5,475,000 ox.)|rency. At all times sufficient cur- rency will be available to cover re-

TICK

and that foreign investments quirements.

In money, leading to economic Influ- Paid-up Capital ence, as they do, on lives of foreign Rosarra Tund *** people, is always a potential political Reserva Liability of Proprietar .. 1,500,000 danger, it was accepted, as a general principle, that in the long run, w

The Fragrant Memory

In her most 'lorless roomanta of romance, of social alamoun--the refined woman of to-day uses the enchanting "4711" Tosca Perfum. Isa dellente and distinctive aroma symboliams good taste and salture in any COMPANY-and on all occasions.

Personal charm and Individuality are subtly enhanced by ita dellähtful fragrance, "4711" "Yonca Perfume le never obirusive; it has the cachet of social refinement.

For milady, there fe, too, the range of exquisite “arti" Toses Tolletries; the alluring and refreshing "4711" Toses Eau de Cologne, "4711" Tosca Compact, and "4111” Tomen Face Powder, elemeach a supreme quality product you wii highly appreciata.

All genuing "111" produeta are instantly recognized by the numeral "4111” and the famous Blue and Ginta Label.

"#711” Tosca-Eas, de Cologno

Combining the alluring fragrance of "¿711" Tonce with the delightful freshens of an Eau de Cologna.

"¿711" Tosca Compact

"¿711" Tusca Face Powder

For handbag or boudoir, unobtrusive and dainty. Both delicately fragranced with "4731" Toxes L'arterne.

& Josca

PRICES

OF

WAKEFIELD CASTROL MOTOR OILS

HAVE BEEN

REDUCED

AS FROM 15th. JUNE, 1933.

WAKEFIELD CASTROL MOTOR OIL gives you the correct quantity and quality, It is sold by the Imperial Gallon of approx. 9 lbs, which is the legal measure in the Colony and the innumerable achievements standing to the credit of this aristocrat lubricant are sufficient evidence of its incomparable quality. There are no inferior or alternative grades of Castrol Motor oils. Britain's records on land, sea and in the air were all made on Castrol and the oil we sell here is exactly the same as used on. these occasions.

Send for Price List and Green Booklet. ROBERTSON, WILSON & CO., LTD.

Agents

for

Messrs. C. C. WAKEFIELD & CO., LTD. The All-British Firm of Oll. Manufacturers.

not afford to buy more goods than we sold, nor could we expect to

will follow of necessity sell more goods than we bought..

hum of the pulpyards ao hoar the

-£9,000,090 B.004,000

AGENCIES AND BRANCHES (-- ALON STAR noilo

IPON

KARACHI KLANO

XODN KUALA

LUMPER

a A Foreign Trade Board has been AMBITRAR created, members of which have been DANGLO

TATAVIA elected from and by the commercial and industrial community itself. The

BONDAY financial part of all foreign transac- CANTON

CALOUTTA tions of selling and buying, in future, will be conducted through this De-

GAWNPOLE KUCHING

MADRAB GFBU partment,

COLONDO DELXI HAIPHONG

"Under the system, it will be clear- ly evident, that spending must quickly commence, and will cause an im- mediato demand for goods. This, in turn, will create employment, wages

be earned,

inerenaed and greater demand, more employment, more wages, a still greater demand, and an over increasing trade, thus on to a prosperity never known, before. "We are looking forward to hear old wheels, which have not turned for years, starting up

"It is our desire to avoid the sen and the whir of seless shipping and re-shipping

of the factories. To see shipping oflicca quantities of gold. Therefore I am HAMBURG

booking berths, merchants busy instructed to propose that this Con- ANKOW taking and delivering orders, and to ference, should camine the possiblil- experience a a general awakening from ties of creating a Central Clearing HONGKONG the death-like Industrial and com-Bank, where the settlements of д mercial conditions of to-day, to those foreign transactions could be made. of real activity, vitality, and liveliness. It Is

bank possible to imagine such a "A committee has been set up to oporating, so that, if Brazil buys goods from Britain, Britain's account at the work out all details, to adjust all an Central Bank would carry a Credit omalies, and to report upon likely with Brazil, and if Brazil is unable to

buy from

Britain, but has similar Credit with U.S.A. and Bri- tain has a similar debt with U.S.A., "It may be mentioned that in order the accounts are adjusted by book- to obtain control over. all wealth-keeping, and so on. creative sources, all existing Govern- ment, foreign, and other investments, will be redeemed, or purchased by the Government in Spending Notes, over a number of years.

abuses, so that the necessary legisin- tion can be put through to enforce the spirit of the system.

"Not much difficulty is anticipated In the working of the system. If necessary, payments may be made on account for commoditica before the expiry date of the Notes.

"The Scheme permits the Govern ment to sanely control and regulate production, to calculate and to say what must be retained for productive purposes, for seed us it were, and what proportion for consumable crop. It prevents the lunatic endeavour of the old system, of trying to use the seed proportion, and plant the crop. It puts the responsibility for pro- sperity, on every member of society, and not on to the privileged few, "the Money Barons" of the past.

"An individual la permitted to saVO and accumulate as much material wealth, as he wishes, but not money. Here the first query suggests itself?- Under this restriction what provision can be made against sickness or old age.

4

HARBIN

MANILA

MEDAN

BAIGON SEMARANG

SEREMBAN SHANGHAI SINGAPORE SETIAWAN BOURABAYA TAIRING

!

TIENTBIN TONGKAH

NEW YORK TRINGTAO PIPING YOKOHAMA

(Pakins)

PENANG

BANGOON

HONGKONG AND SHANGHAI BANK CORPORATION.

| Authorised "Dipitál akk

Issued and “Fully Paid-up

„Roservo "Papdity

BIZVOR SKIDOWER

$13.004.990 30,000,000

$15,000,000.

Hanerre Liabilių 67-Ervazietors | $20,000,0

ITRAD-OFFICE, HONGKONG, BOARD OF DIRECTORS..

~Depuko – ODafruna,--

J. Z. Dousfeld, as Ɑ. Muxía,

A. IL. Complen, Mes. Hon. Mi, 3, 3, 1. II. "Dodwell, Eng. Paterson Hon. Mr. Cad 3. A. Plummet,

L. N. MURPHY, Iss. ACTING CHIVE MANAGER

ZAMBOANGA

AMOY DANGKOK

BATAVIA

DOMDAY

Foreign Exchange and 'General and Bank- | GALAUTTA

CANTON ing business transmeted.

and Fixed CHEFOO Durrent Accounts upated Deposita received for one year or shorter COLOMBO

periods at rate which will be quoted on application

A. HUMARLEY,

Manager. Hongkong. 17th November, 1931,

DAIREN POOCHOW HAJPITONO HAKUTEO

JANKOW

HARDIN

HONGKEW

ILOILO

IPOH

гонов

BRANURESumm

:

THE YOKOHAMA SPECIE BANK, LIMITED.

Capital (fully paid vy) „J. 100,000,000 KUALA ZUMPUR

KEL 119,759,409 |

"For the tinio being, for the pur poss of foreign trade, we shall con- true to use gold as a yardstick of measure for goods and services, but we consider that a more satisfactory basis is desirable, and that one can Home Pund be found. I am instructed to com- mend the examination of this ques- tion to the deliberations of the Con- forence."

Batavia

Bombar Calcutta

ITKAD OFFICM:—YOKOHAMA, Branches and Agencies at

Honolulu

Ka! Yom Kobe

"We are prompted to ask for the Alexandria consideration of this question because | Berita of the fact that gold has little direct relationship with true Physical Weal th. Its utility value is so very that it la virtually a worthless yell metal.

The fact that whether quantities of this yellow metal lle hidden in vaults in New York, or hidden in vaults in London, can be of utmost concern, and cause Mass anxiety, or Mase clation, we consider in this enlightened age an Insult to common intelligence.

"Neither can we see why the world should concede the determination of Its values of wealth to the inconse- quential fact of a shortage or an abun- dance of supply of any inert metal. Nor is there any reason in the realm of sanity, because of this fact, why the self-same article in one part of the world, must be priced at $4 at one noried and $22 a short time after, and that the price should have

"The question is easily answered From the present productive capacity, from now productive methods which; are known, and from the unlimited stability, but should continue to vary productive possibitilities of the future, daily. when the technicians are freed from

the strangling restrictions of pre sent-day finance, goods, will be avail- iable in super-abundanco, and we are convinced, that no one need be con- cerned about normal necessities.

DISPLACEMEnt of laBOUR.

"It is anticipated that the impro ving methods of production by the substitution of mechanical energy will continue to displace human labour. This will enable most Workers to re- tire from organised work at a com- paratively early age.

ABANDONMENT OF GOLD.

no

Canton Obanscaun

Malden)

Haskow

London

Los Angeles Manila

Tafran (Iminy) Nagaonic Fengtson Bamburs Harbi Hongkong

Nawchens New York Osaka

Parks

Petping

Tangoon

Rio de

Jametro

Ban Francisco Bratile

Bemarang Brine Bourabaya Bhangbal Shimonosek Bingapore

Tokyo

Tentin

Thingtao

Interact allowed on Qurrent Accounta Deposits received for tzed periods at rates

to be obtained on application.

H. MORI,

Hongkong, 11th Marz, 1988,

Manager.

PEKING PROPOSAL.

URGE LOAN'S USE FOR DEMOBILISATION

Poking

June 18.

KODE KOWLOON

LONDON LYONE

MALADJA MANILA

XUAN (ZOH(PT) MURDEN 24

«NEW YORK ::

PRIPING PINANG BANGOON

BAIGON

BAN FRANCISCO KHANGHAI

SINGAPORE BOURABATA

SUNGHI PAZAbi

TIENTEIN

TOKYO

TEIMUTAO YOKOHAMA

Current Assensta opened in Loon) Ülgar rency and Sheri Deposite received for me Jour or abarber periods in Locá) Qurreper and Berilog on Weng which will be adossá on application.

Hongkong, 13th April, 2012.

HONGKONG SAVINGS BANE,

The Business of the abové Dank in som ducted by the HONGLONG AND SHANG- HAI DANKING CORPORATION. Rule 1947 be obtained on sppliestkuM,

FOR THE HONGWONG AND SHANGHAI BANKING CORPORATION.

1. N. MURPHY, Acting Oblef Manager.

Hongkong, 28th April, 1983, ·

THE BANK OF CANTON. LIMITED.

RITAŲ LISTED 1913.

Head Office: Hongkong.

Authorised Ospita).

Paid-up Capital Kmerve' Fund DLANCHES-

The Peking Chamber of Com- "We suggest the completo abandon-morce has issued a circular tele- ment of gold, together with its in- gram suggesting that the Governor equities and absurdities, and that ment devoto part of the G$50,000,- consideration ba given to a basis, 1000 American loan proceeds to the a direct relationship to disbandment of troops. goode and services. We recommend

mend bodies throughout the country aro a basis the unit of Energy, put forward by a group in the United urged to support this proposal.~-~~ States, designating themselves theBeuter.

which has

Technocrats.

every

In form of goods and ser- vices, Energy is a component. En- crgy-has dimost the same coal-value elce-

24

"Compulsory Insurance schemes all over the world, especially have been inaugurated which will per-trical energy. We recognise that mit a man to have adequate provision, Jaru modities, for exchange:

yardstick of measure, for our

In case of sickness and to retire on an

old

#t

con-

of the

inconte equivalent to his previous purposes, is not possible; but we con- average yearly earnings. Under sider that an Energy basis would these conditions there are no legiti-provide the most accurate of all mate reasons why money should be available means. At the least, saved, The salvation of prosperity is would have some sensible relation to commodities. It would practically circulation of money,

"It is expected that Immediately the eliminate questions of rates of ex- Scheme begins to operate a terrific changes, and price variations would bo in sympathy with real commodity into prosperity will be made. Cognisance has been taken of the and demand values. fact that when a man is suddenly re- "In closing, it might be said that lieved of life's two greatest mental in deciding to act promptly and in- burdens-the provision against rainy cern was an apprehension

dependently, my Government's day and age-reactions are likely

from some psychological effect of the persistent "We expect

new expressions of and illogical cry for increased Price and Lovels at the very time when the activity for the advancement. benefit of mankind. We also expect, people's purchasing power was belag on the other hand, cases of extreme constantly reduced. In this cry, to the practical mind, there seems to be abuse of this newfound wealth.

no intelligent purpose other than to satisfy some abstruse theory.

"In direct

opposition to a cry for increased price levels, wo consider "I need not dilate further on this that real and genuine prosperity can phase of our economic change but In only be reached through a louder cry passing, I would like to say that we for lower, and stiil lewer, price levels. (Tomorrow, Mr. Cope," in his final feal that by giving every man a falr chance to wealth, and an opportunity article, formulates his conclusions.)

to be Beleased,

minds so

"A strong Social Committee has been created to attend to these mat ters and for opening up new channels of activity.

Neglected Colds are Dangerous!

Don't wait! Rub, MENTHOLATUM freely on his little chest and put some in his nostrils to open them up and make breathing casier. Its delightfully cooling and soothing effect will help bring restful sleep, and its heal ing properties relieve congestion and lessen the danger of complications.

Always keep MENTHOLATUM on hand for mis haps. Used for years in the treatment of burne, scalde, cuts, bruises, etc. Your druggist carries it,

Jimmy's

1. D'Agular Street.

Public

«£11,000,000-

5.250.490

1,160,000:

Canton, Shanghai, lankaw, Bratow.. Banghor, New York, and ban Trus

ONDON BILANCHES —

The "Lloyd's Band, Limlied. Correspondente in all the principal eithe

the world.

Foreign Exchange and Banking business of

descripties trapsasted.

Bafe Deposit Bowen' (various absen) nội mrt rotil from 1 to MỘT

LOOK POONG SHAN,

Chiat Manjger.

MASSAGE.

Mr. & Mrs. Y. Mori, Holder of Japanese Government Licence,

Cures Sprained Anklen und Wrieta, Recommended for many youru ... Ber and Dolors. Joen! Toupita

4, Wyndham Stroot (1st floor)', Tel. No. 26051,

THE

HONG KONG

·PENINSULA HOTEL;

HONGKONG HOTEL; REPULSE BAY HOTEL; PEAK HOTEL

SHANGHAI

ASTOR HOUSE; PALACE HOTEL;

HOTELS

LIMITED.

In association with the Grand Hotel des Wagons Lits, Peking.

first class

Hotel

Penang

The Scenic Gem of Malaya

Modern throughout and beautifully

Situated

Runnymede Hotel

Malaya's Premier Hotel Food and Wines especially, good.

AFTER-DINNER DANCE

Every Thursday & Saturday Orchestra Dally.

CABLES RUNNYMIDI”. RUNNYMIDE HOTEL, LYD