1933-06-20 — Page 22

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THE HONGKONG TELEGRAPH.

THE

TUESDAY, JUNE 20, 1933.

offered to speculators who took AN INCURSION INTO

advantage of the irregularities

of the monetary situation in var- lous countries. Their action complicated conditions which

PADDY'S MARKET

were already sufficiently inimical A REVELATION OF HONGKONG'S

to the normal conduct of com-

VAUXHALL merce. There remained some of

SYNCHRO-MESH

FAULTLESS GEAR

CHANGING

NOW

BEING DEMONSTRATED

AT OUR SHOWROOMS

HONGKONG HOTEL GARAGE

Stubbs Road.

The

GREATEST SPOOFERS.

The Very Idea!

HONGKONG HISTORY,

By Edward Kelly, Hysterisal.

A morning contemporary,

mysteries of Paddy's Market. formed that the whole Memorial- Of course, as has been pointed years ago. Well do we remem

much rum thoy had to drink before they gob Bozzled, but we the present must confino our have it on the best of authority Intorcat to the different knick-from Peto Watkins, who was pre- knacks on show, in the main tray: nont as a child in arms, that he These attain to a considerable well remembers his great grand- and being flehed out by a sampan, after a three day bout.

Hongkong Telegraph.cies, but independent of those our recollections of Paddy's Market range, and may include anything father falling into the harbour

TUESDAY, JUNE 20, 1983.

Another point of historical Interest is the fact that, either in 1877 or 1878, there was an acute water shortage in Hong- kong.

we notice, has started a the princial moneys of the world

Historical Club in order to as landmarks in the financial

By C. V.-L. for the Telegraph

dig up some of the skeletons. tempest. The pound was deem-

in the local cupboard. ed secure and furnished a satis-

noticed the other day intrudes itself upon the attention

We know lots about the factory measure. Then it, too, What a Hongkong clergy- from every hand, and gives the im- pression that the rag plcker and succumbed, complicating trade man while showing a newcomer the scrap-metal dealer (out here secret history of Hongkong, and adding to the sense of in-the sights" made a discovery they expect and are courteously so we are going to lend our stability. It was still consoling as remarkable as it was fortuit-given the title of marine hawkers) to think the dollar safe. Finally oua-ho found in "Paddy's Mar- have done their work only too assistance to this worthy.

pre- thoroughly. But we need not be object. the dollar was detached from its ket" a chased metal vase

The origin of Hongkong moorings, and though in the viously stolen from beside Its discouraged by those mundang twin on the Cathedral War things the Chinese housekeeper has

deemed too good to be thrown away is lost in antiquity. Accord- meantime other currencies had Memorial pedestal.

and for which a commerical value recovered their bearings, this Our own experience has tended has been found. It is only in ing to some writers the origin of completed the shattering of to a state of mind where we find it delving beneath an unprepossessing Hongkong night life has also

Impossible to view these denoue exterior that we can find something been lost in iniquity. world confidence in

The first night out in Hong- currencyments of the "Market" with any of utility, if ever ao alight, by that the marked degree of surprise; and which to be introduced into the kong took place about a hundred stability. It is now theoretical advantages of an sometime in the future we are in international money that will foundations and all-has by some out, we are not to commit that ber the occasion. The original stay put are converted into magic associated with an Arabian faux pas so often perpetrated by refreshment bar stood on the site Nights tale been bodily transported the unexperienced insisting on now occupied by the Hongkong definite and immediate prac to that quarter, we shall still refuse knowing what it is that is so Hotal, with a number of original tical advantages. The discus- to be properly astonished.

Bedulously preserved within the customers in the process of re- "Render to Caesar the things privacy of the cockloft, beneath the colving original refreshments. sions of the economists have

Those were the days before America became uncivilized, so things which are God's", and once where the shopkeeper resides with Phone 23124. come into the realm of political which are Caesar's, and to God the counter, or on the floor above,

there were no such things as possibilities. The time has come the rights of ownership have been his family. These things we usual-

cocktaila.or martinis. Instead to ask what reason can be urged clearly readjusted in a spiritually don't do, because they are never

they drank rum. against the issue of a stated light, as in this instance, it is done in the beat of Paddy's Market Auggested that we need not be business circles. Rather we are to

History does not record how number of secured notes, in-shocked by some heathen souls understand we have not qualified to dorsed by such a body as the having been led astray in Paddy's an unreserved confidence, and so for

Markot. Bank for International Settle- OUR TENDER ments. These existing side by RECOLLECTIONS. side with the national curren-

Let it bo stated rightaway that and of a character the most tender, between the jack knife of all work, national currencies, could be re-and when we sometimes have and a 15-Jowel Tavannes watch. lled upon to keep their agreed occasion to reproach it for its in- A FIRST

discretions, in so far forgetting it- DIFFICULTY. value, and would constitute a self as to appropriate things which, Your first difficulty, if unexpe- permanent legal tender from are not its own, it is to speak to a rienced in the matter of values, is vory outset. country to county, thus satisfy-spoiled child, with the spelled encountered at the STABILITY OF ing the legitimate interests of child's aptitude for peccadillos, but For the Tavannes-surely a desir-

which in other and meritorious able acquisition for everybody-

Plans were prepared for the CURRENCIES international trade. - The

ways has found a settled place in you are tentatively asked to say construction of a dam at Shing scheme, of course, implies that our affections. While the motives governing national currencies will be Who has, It is suggested, not how much you think it is worth. Mun, and the newspapers of the

have plenty of water, President Roosevelt's refusal to stabilised and will have a large known Paddy's Markets not In other words, how much would day remarked that, with its com

keeper on a bargain?

And it is from this very early In more recent history the most consider pegging the dollar are domestic utility. But an inter- understood it as it should be under you be prepared to meet the shop-pletion, Hongkong would always readily understood, the example national currency, based on the stood a place where to pass an gold standard, would neverthe-afternoon of endless bargaining in

an variety stage that your respect for Paddy's momentous period in Hongkong set is far from good. It invites less possess an indispensable va-ar atmosphere redolent of a vasting Market and the people who run it was when the dollar rose to six all other nations participating in luc in foreign exchanges of all the best in the Oriental's fondness begins. Most people when caught bob and the price of bear went on this embarrassing point-and down to fifty cents. There were the World Economic Conference kinds. It would restore a con- for discussing a bargain?

Truc, the subject of half-an- the dealer's courteous air of ex- celebrations throughout the land, to consider their own interests,fidence which has been badly wholly and solely. It stultifies shattered, and it would facilitate hour's talk and gesticulation may pectancy absolutely precludes the and people flocked from all over For the information of futuro trouble from the point of view of its to entertain it, of backing out Mr. Cordell Hutt's programme of the flow of goods and help in the not have been worth the time and idea, should we be so insincere as China to Hongkong.

revival of prosperity. The world intrinsic value, but it is the liking would have blurted out a figure, historians we want to point out, international cooperation. Be-

is capable of producing every-on the one side for fooling, and an and poselbly live to rue his genero- before, we ond, that Edward Kelly hind the official statement issued thing which the world needs; agreeable disposition on the other sity. The quickness with which arrived in Hongkong early in

are ob to be fooled (this for the sake of their offer is accepted and the 1932. in Washington, can be seen signs but everywhere there

reconsideration, and they leave with of a grim struggle now going on stacles to the proper distribution being entertained by a whole thesis article wrapped up give no time for between the dollar and the pound. of the world's goods. In this expounded) which give this enjoy the sickly thought of having once again been done by Paddy's other business, transactions.

Market. The United States appears to be distribution few things would able zest not to be derived from

If time therefore is of help more greatly in the right bent upon achieving an exchange direction than the institution of object, we should like to take you THE LURE OF nearer the old parity rate of an international currency. with us to-day for an incursion into UNCERTAINTY.

this repository for the flotsam and On the other hand it is this cle- 4.80, while Britain's financial authorities are exploiting the

Jetsam of the Colony, and for other meat of uncertainty, this determin- things as well which are not quite ed wariness against a reputable set exchange equalisation account

such but of which the origin, tact of bargainers, which gives Paddy's and the natural courtesey ex- Market its greatest allure, even OUR BID FOR THE 100. to-its-full-extent-to-prevent-the-

pected in all of us, preclude from though we know it is not all gold. pound from appreciating. No

"Healthy" people-all-like-to think which glitters and that the treasur discussion. Continued ineffectiveness · of other explanation can be offered

We have not yet lived down the ad article we have wrested from it that they will carry of the first plans for commercial co-opera- for the rapid climb of the pound ton along the Darcial, co-op the memory of the pain and reproach in as a "bargain" may turn out to be prize for longevity. They class that dignified look of Ah Wong, dross. They are truly wise who go their prospect of centenarian- last week to 4.18 and its descent ever-mounting tariff walls which leading Paddy's Market dealer, there not so much as a prospective lam as what they vulgarly call a by the week's end to round about have almost stopped trade there when in a moment of indiscretion purchaser, but as one bent on ax-"dead cert." They have only to a currency and promoted the partial bank-we enquired where he got a Parker ploring its fullest lalquities,the sit down and wait till it comes war is going on, there is little ruptcy of eight states, lend par-Duofold which had appeared to us jartifices of workmanship, by which along. So, in their folly, these

ticular attention to the celebra- to be so new. hope for any real progress.tom of the hundredth anniver. WE ARE IN Once again, it becomes obvious

sary of the customs union among that those who have control of the Germanic states. In 1883,

An astounding collection of old monetary policies in the leading eighteen states with 25,000,000 bottles, of discarded milk and bls- nations of the world possess a inhabitants removed the bars cuit tins, of battored pots and pans, mentality which is divorced from from their customs frontiers- questions of human need. Once letting trade.flow freely along again, the need for an interna-all the natural highways. Thus was inaugurated an era of pro- tional currency becomes more sperity which the Germans had urgent. The necessity of it never before experienced. Pre- could never clearly be seen while [viously there had been thirty- there remained a number of na-eight trade districts, each walled tional currencies which, based off from its neighbours. "Tariff on geld, could be regarded as bara there were as thick as tele- graph poles are now." Along While fixed quantities.

it the Rhine from Strassburgh to was possible to trade in monoy Holland there were thirty cus- which had a known, dependable toms houses. Boats had to stop Įvalue, local fluctuations had only at least once an hour, often a relative importance. The Rus-crossing from one side of the slan, the German, the Austrian river to the other. Travellers passed through ten states in go- debacles after the war were Ing from Hamburg to Vienna. undoubtedly disastrous, but they It took much-time and constant could still be regarded as ex-efforts for wise leaders to bring ceptional phenomena. The ma-all these independent states into jority of the world's currencies a single economic unit. But when this was finally accom- were comparatively unaffected,

plished, the advantages of the and it was possible to take steps unification were clear to all. It to restore some stability in most is plain now that the unpre of the countries which had pass-cedented crisis in central and ed through a monetary crisis. southeast Europe is due in no But presently it was seen that small degree to the complete that upheavals were becoming lack of economic unity existing here. State barriers have anni- general. The French franc, hilated trade. Political ambi the Italian lira and other curtions have blocked economic for- rencies slumped badly, and there ces. And all the nations are was a good deal of uncertainty suffering from the resulting before they were consolidated state of affaire. The most hope- at a rate much lower than that ful aspect appears to be that oach new difficulty" provides nd- which formerly prevailed. Anditional demonstration of tho unprecedented opportunity was need of ultimate co-operation.

4.05. While such

Trade Dams on the Danube

PADDY'S MARKET.

110

It is a significant fact that, coinciding with the arrival of this celebrated Journalist, an enormous fire-cracker display was staged by local Chinese residents.

In recording the incident, the local newspapers, mainly through jealousy stated that the Chinese were celebrating their New Year.

dilapidated articles are restored by poor creatures think.

the magic of varnish, wax or glue But what, as our political friends. to an appearance of newnesa not say, are the facts? The facts are these; that the healthy ones almost allied with durability.

Knowing our Paddy's Market always fall by the way, as a result, of presuming too much on their (Continued on Page 5.)

physical fitness, whereas the sorried: ranks of sturdy contenarianism aro composed almost exclusively of chronic invalids whose lives had boon given up by the doctors and. by expectant relatives at least a dozen times, and who, according. to all laws of health and reason, should have perished at birth.

Conscious of their duty to posterity, they preferred to hang on life, and we challenge the health fiends to name a single great man. who did not belong to this category... The plain truth is that greatness and good health are incompatible.. This much being proved, the folly of fresh air, hiking, sun baths, morning jerks, pneumonia blouses, and other health fade of the day will be apparent to all. Eat, drink. and be morry if you want to live. to a hundred

"Can't you do something, Mamma 7 Every time I have

a'date, Dad starts selling him shares.

3

THE IRISH WAY...

We like the action of the Irishr Judge who, the other day, on being informed by the foreman of the Jury that its verdict was one of "Not guilty." thereupon expressed his contempt for the good men and true and gave the prisoner a smart

er a sma Bontonca. A

"Irish politics may not be worth emulating, but it seems to us that there is a good deal to be, sald for Irial justice. Hore the fallacy poraists that if you haul a handful of middle-aged citizens, much against their will, from their normal vocations and lock them up. in a wooden box, where some may contrive to keep awake and others may surrender to sweet gemil somnolence, you will get at the truth of a case and the law will, ba vindicated.