1933-06-17 — Page 6

THE HONGKONG TELEGRAPH. SATURDAY, JUNE 17, 1933.

Sun

ndown

SILVER SLAPPER

DRY CIN

TIME FOR

SLIPA

SILVER

the Dry Gin three cor

GIN & G

GOSH/

I DO FEEL

ROTTEN

TLE

The steps of the Bubbling Well Chapel formed the speaking platform for the U, S; Memorial Day ceremonies in Shanghai last wask.....Dr. R. T. Bryan, bahind the microphone was the speaker of the oc- casion. On his right aro Mr. Edwin S. Cunningham, U. S. Consul-General; Colonel E. F. Moses, Com mander of the Fourth Marines Lt-Commander Ray Pfaff, of the U. S. S. Monocacy: Major C. L Gawns and Captain J. W. Knighton, both of the Mariness Colonel N. W. B. B. Thoms, and Captain P. H. Catt. On the left from the speker are Mr. Stirling Fessenden, Secretary General of the S.M.C.; Mr. F. J. Rayon, Mr. C. H. French, and Mr. George Fitch.

A STABILISED CURRENCY

BANKERS' CURE FOR WORLD'S ILLS

TASK FOR LONDON CONFERENCE

1

be hoped that the World Confer- the United States swept by the ence to meet in London next bank panic from coast to coast. month may address itself to this "I shall not forget the day after supreme problem with all the as-we came off the gold standard siduity it can command."

looking up Whitehall to see if

on as

If a means could be found to there were any crowds outside the effect stabilisation of the lend- bank which la close to the Trea- ing currencies in terms of gold, sury, and in which I myself and we were asked to accept a managed to keep my modest over- basis of exchange which past ex-draft," he continued. But the perience showed to be not in- whole nation was going compatible with our meana and though the most ordinary proceed.] prospects, then he personallying was that Great Britain should" gold would be in favour of such a suspend payment on the

This country had now accumu- If we could maintain that con- lated gold to BOME sixty-six fldence in ourselves and the Inter- millions in excess of the figure at play batween politics and finance which we rested after we made which had been for 200 years one the payment to America last of the features of the Government Mr. Rupert E. Beckett, President December, and though' we still of this country, we should weather of the Association, who proposed had a managed currency he much any storm, however hard it might' the toast of the Government, said preferred a managed curroney with blow,

Major Walter Elliot, the Minister JARDINE of Agriculture, was the chief guest of the British Bankers' Association MATHESON: at its annual dinner held in London

& CO.LTD.

lust month.

course.

standard,

that the latest step taken by some gold behind it-though not It had fallen to Great Britain to America in renewing the suspen-attached to it-than a managed embark on a new stabilisation of sion of gold payments had left a currency with nothing but manage-the exchange of goods which, was world wondering and bewildered. ment behind it.

"It is difficult for an outsider to gain much light from the ob

BRITISH CONFIDENCE.

not of less importance than the exchange of money. Ignorant men, men in a hurry, would con- Hervations of responsible people Major Elliot, in reply said that demn trade pacts as they would over there" he said, "but the point we had, scen Germany fall into a condemn any arrangement that that emerges from the present revolution which was only begin-might he come to, but unless they welter is the need throughout thening, and no man could say how were made it was hopeless to world of a basis of currency far that revolution would take expect any recovery in the trade stabilisation, and it is devoutly to that great country. We had seen of the world;

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The following Rules will govern the Competition :---

1The Competition in confined exclusively, to

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2. The Prizes will be awarded to the competitors sending In what are adjudged to be the best photographs in each Section. (Section entered to be marked on the back of each picture) and which reach this Office not later than 31st August, 1933. The decision of the Judges shall be final.

3.The right to publish any or all of the entries

in the Telegraph is reserved. 4.Photographs which have heen already entered

in local competitions are (noligible. 5.--At the conclusion of the Competition, entries will be returned to competitors on application at this Ofoe within seven days.

(Pictures

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7-Photographs which must not be less than 24" x 34" (excepting In the Children's- Section) should be printed in black and white, with the mania of the competitor in ink on the

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Entries in tho Children's Section must bear the name, age and address on the back in ink, countersigned by a parent.

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