1933-06-20 — Page 6

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THE HONGKONG TELEGRAPH.

THE

VAUXHALL

SYNCHRO-MESH

FAULTLESS GEAR

CHANGING

NOW

BEING DEMONSTRATED

AT OUR SHOWROOMS

Stubbs Road.

The

TUESDAY, JUNE 20, 1933,

offered to speculators who took AN INCURSION INTO

advantage of the frregularitice

of the monetary situation In var- lous countries. Thoir nction complicated conditions which

were already aufciently inimicalA to the normal conduct of com- merce. There remained some of the princlal moneys of the world na landmarks in the financial tempest. The pound was deem- ed secure and furnished a sntis-

PADDY'S MARKET

REVELATION OF HONGKONG'S

GREATEST SPOOFERS.

By C. V.-L. for the Telegraph

factory measure. Then it, too, W that a Hongkong clergy- from every hand, and gives the im-

Market.

those mundane

The Very Idea!

HONGKONG HISTORY.

· By Edward Kelly, Hysterical.

A morning contemporary,

·

we notice, has started a

Historical Club in order to

dig up some of the skeletons in the local cupboard.

TE noticed the other day intrudes itself upon the attention

We know lots about the pression that the rag picker and succumbed, complicating trade man while showing a newcomer the scrap-motal dealer (out here secret history of Hongkong, and adding to the sense of in-"the sights" made a discovery they expect and are courteously ao 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. Finallyousho found in "Paddy's Mar- have done their work only too assistance to this worthy

kot" a chased metal vase pre- thoroughly. But we need not be object. the dollar was detached from its viously stolen from beside its discouraged by

The origin of Hongkong. things the Chinese housekeeper has moorings, and though in the twin on the Cathedral War deemed too good to be thrown away is lost in antiquity. Accord meantime other currencies had Memorial pedestal.

and for which a commerical valua recovered their bearings, this Our own experience has tended

delving, boncath an unprepossessing Hongkong night life has also completed the shattering of to a state of mind where we find Its been found. It is only fning to some writers the origin of

impossible to view theao denoue-oxterior that we can find something been lost in iniquity. world confidence in currency mente of the "Market" with any of utility, if ever so slight, by The first night out in Hong- stability. It is now that the marked degree of surprise; and if which to be introduced into the kong took place about a hundred

sometime in the future we are in-

years ago. Well do we remom- theoretical advantages of an

Of course, as has been pointed ber. the occasion. The originn! formed that the whole Memoriál mysteries of Paddy's Markot. international money that will foundations and all-has by some out, we are not to commit that stay put are converted into magic associated with an Arablan faux pas so often perpetrated by refreshment bar stood on the site now occupied by the Hongkong Nights talo boen bodily transported the

unexperienced-insisting OA HONGKONG HOTEL

definite and immediate prac to that quarter, we shall still refuse knowing what it is that is so Hotel, with a number of original GARAGE

tical advantages. The discus- to be properly astonished.

sedulously preserved within the customers in the process of re- "Render to Caceur the things privacy of the cockloft, beneath the celving original refreshments. sions of the economists have

which are Caesar's, and to God the counter, or on the floor above, Those were the days before Phono 23124. come into the realm of political things which are God's", and once where the shopkeeper resides with America became uncivilized, ao possibilities. The time has come the rights of ownership have been his family. These things we usual-there were no such things as aplritually don't do, because they are never cocktails or martinis. Instead to ask what reason can be urged clearly readjusted in

light, as in this instance, it is done in the best of Paddy's Markat they drank rum. against the issue of a stated suggested that we need not be business circles. Rather wo are to History does not record how number of secured notes, in-shocked by some heathen souls understand we have not qualified to much rum they had to drink as the having been led astray in Paddy's an unreserved confidence, and so for before they got sozzled, but we dorsed by such a body

the present must confine our have it on the best of authority Bank for International Settle- OUR TENDER

Interest to the different knick from Pete Watkins, who was pre- knacks on show in the main tray sent as a child in arms, that he ments. These existing side by RECOLLECTIONS.

These attain to a considerable well remembers his great grand- side with the national curren- Let it be stated rightaway that

are of a character the most tender, between the jack kaffe of all work, and being fished out by a sampan,

when we sometimes have and a 16-jowel Tavannes watch. national currencies, could be re-and

after a three day bout, 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 unexpo- permanent legal tender from are not its own, it is to speak to "rienced in the matter of values, is vory outset. country to country, thus satisfy-spoiled child, with the spoiled encountered at the

child's aptitude for peccadillos, but For the Tavannes--surely a desir ing the legitimate interests of which in other and meritorious able acquisition for everybody—

Plans were prepared for the 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.

how much you think it is worth. Mun, and the newspapers of the While the motives governing national currencies will be Who has, it is suggested, not President Roosevelt's refusal to stabilised and will have a large known Paddy's Market and not In other words, how much would day remarked that, with its com-

have plenty of water. 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 afternoon of endless bargaining in

stage that your respect for Paddy's momentous period in Hongkong readily understood, the example national currency, based on the stood a place where to pass an set is far from good. It invites gold standard, would neverthe-an atmosphere redolent of a variety Market and the people who run it, was when the dollar rose to six

less possess an indispensable va- of obnoxious odours, but promoting all other nations participating in lue in foreign exchanges of all the best in the Oriental's fondness begins. Most people when caught bob and the price of beer 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?

True, the subject of half-an- the dealer's courteous air of ax- 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 Mr. Cordell Hull's programme of the flow of goods and help in the not have been worth the time and Iden, should we be so insincere as China to Hongkong.

trouble from the point of view of its to entertain it, of backing out-- international cooperation. Be revival of prosperity. The world intrinsic value, but it is the liking would have blurted out a figure, historians we want to point out, is capable of producing every-on the one side for fooling, and an and possibly live to rue his genero- before we and, that Edward Kelly in Hongkong early in hind the official statement issued thing which the world needs; agreeable disposition on the other sity. The quickness with which arrived in Washington, can be acen signs but everywhere there are ob- to be fooled (this for the sake of their offer is accepted and the

It la a significant fact that, 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 onco coinciding with the arrival of this again been done by Paddy's celebrated journalist, an enormous other business' transactions.

fire-cracker display was staged by The United States appears to be distribution few things wouldable zest not to be derived from If time therefore is of no

local Chinese residents. 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

with us today for an incursion into UNCERTAINTY, this repository for the flotsam and On the other hand it is this ele- 4.86, while Britain's financial

jetsam of the Colony, and for other ment of uncertainty, this determin- authorities are exploiting the

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, oven 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

discussion.

which glittere and that the trenaur- other explanation can be offered for the rapid climb of the pound

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.

STABILITY OF CURRENCIES

4.05. While such

08

an' international currency.

Trade Dams on the *Danube.

Continued ineffectiveness of

✓

PADDY'S MARKET.

Market..

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

For the information of future

1932.

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

•

these

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 foily of fresh air, hiking, sun baths, morning jerks, pneumonia blouace, and other health fads of the day will be apparent to all. Eat, drink and be merry if you want to live. to a hundred. ་་

Healthy people all like to think We have not yet lived down the ad article we have wrested from it that they will carry off the first plans for commercial co-opera- memory of the pain and reproach in as a "bargain" may turn out to be prize for longevity, They class tion along the Danube, and the 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 ism as what they vulgarly call to 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 ex- "dead cart." They have only to a currency and promoted the partial bank-we enquired where he got a Parker ploring its fullest iniquities, 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 artifices of workmanship by which along. So, in their folly,

dilapidated articles are restored by poor creatures think. the magic of varnish, wax or glue But what, as our political friends hope for any real

ticular attention to the celebra-to be so new. progress.

to an appearance of newness not say, are the facts? The facts are these; that the healthy ones almost Once again, it becomes obvious tion of the hundredth anniver- WE ARE IN

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

An astounding collection of old allied with durability. In 1838,

Knowing our Paddy's Market always fall by the way, as a result of presuming too much on their (Continued on Page 6.)

physical fitness, whereas the serried monetary policies in the leading eighteen states with 28,000,000 bottles, of discarded milk and bis-

ranks of sturdy centenarianism are nations of the world possess a inhabitants removed the bars cult tins, of baitered pots and pans,

composed almost exclusively of lives bad mentality which is divorced from from their customs frontiers—

chronic invalids whose questions of human need. Once letting trade flow freely along

been given up by the doctors and all the natural highways. Thus

by expectant relatives at least a again, the need for an interna-

was inaugurated an era of pro-

dozen times, and who, according tional currency becomes more sperity which the Germans hud

to all laws of health and reason, should have perished at birth. 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 un-eight trade districts, each walled tional currencies which, based off from its neighbours. "Tariff bars there were as thick as tele- on gold, could be regarded

graph poles are now." "Along fixed quantities. While it the Rhine from Strassburgh to was possible to trade in money Holland there were thirty cus- which had a known, dependable toms houses, Boats had to stop an hour, often value, local fluctuations had only at least once

Travellers a relative importance. The Rus-crossing from one side of the sian, the Gorman, the Austrian river to the other.

passed through ten states in go. debacles after the war were ing from Hamburgh to Vienna, undoubtedly disastrous, but they It took much time and constant could still be regarded as ex- efforts for wise lenders to bring ceptional phenomena. The ma-all these independent atates 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- tho Italian lira and other cur-tions have blocked economic for- rencies slumped badly, and thero cos. And all the nations are was a good deal of uncertainty suffering from the resulting before they were consolidated state of affairs. The most hope- at a rate much lower than that ful aspect appears to be that oach now difficulty provides nd- which formerly provalled. An ditional demonstration of the unprecedented opportunity was need of ultimato co-operation

"Can't you do something. Mamma? Every time I have

a date, Dad starts selling..him shares."

*

THE IRISH_WAY.

We like the action of the Irish Judge who, the other day, on being Informed by the foreman of tho 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 sentence.

Irish politics may not be worth emulating, but it seems to us that there is a good deal to be said for Irish Justice. Hiero the fallacy poralsts that if you haul a handful much of middle-aged citizens, against their will, from thoir normal vocations and look them up in a wooden box, where some may contrive to keep awake and others may surrender to sweat bomi somnolence, you will got at the truth of a case and the law, will be vindicated.