1933-10-13 — Page 18

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THE HONGKONG TELEGRAPH, FRIDAY, OCTOBER 13, 1933.

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DONALD-THOMAS-On October 12, 1988, at St. John's Cathedral, Hongkong, by the Rev. N. V. Halward, M.A., Frances Ellen, elder daughter of Mr. and Mrs.

J. A

NOTES OF THE DAY

WATER SUPPLY

The ideal of making the local water supply sólf-supporting is ong which naturally commenda it- self as only reasonable. Where special and expensive efforts aro necesenry to guarantee any supply at all, it is a corollary that the public should expect to pay more than in centres "whore problema

we doubt if H.E. the Governor's

TF

THE ECONOMIST IN HUMAN SOCIETY

Rival Gangs of Practitioners

By STEPHEN KING-HALL

penco on a copy of The Evening economic sense. standard, he would have read

*

Boon after the

The Very Idea!

TALK OF LUCK,

By Eddie Kelly, Man Friday. TE want to warn all our Public about being

careful to-day. We never thought about it ourself un-

are negligible. At the same time. on September 8, 1821, 0e of Events will, I suggest, prove te

your ancestors had felt rich Congress that nowadays we are all til we sprang out of bed this hint that an end may come to free enough to spend the sum of seven- "neighbours, and brothers" in the morning and bumped our big toe on the bed post. And water will be received with any thing but alarm "even if it is

these words in the leading article: This reflection brings mo to the then we remembered. practicable, which la questionable. Henry Drummond, Esq., of Albury question of the position of the It would, perhaps, be fairer to Park, Surrey, was two years ago economist in human society. The Readers, do you know Awalt further details before com- fool enough to found in the Univer-status of the economist depends up what to-day is? Do you mitment to condemnation, but, in the meantime, it may be pointed sity of Oxford 4 professorship of on the degree of well-being of the

hocconomic system. When the world know what could happen to out that the Colony is paying political economy. There is

you to-day? pretty well through the nose for such science. All persons whole sick, as it was its existing service,, having re-profess this non-existing science Napoleonic Wars; as it has been i

Take a look at the day and year's budget provides for revenue bumo are mischievous. There can be in 1940, men cry aloud for their

be a science of political economluta. With spoonfuls of date at the top of this page, of $2,000,000 In direct payments ever for water and to that figuro has economy, of trus political economy nauseous remedies of a deflationary and then see if you can re- to be added the quota credited to there is but one system-the Bible." character, one school of economists

There is a great deal of sound gather round the hard and lumpy frain from shivering. ment taxes. Even taking into economic teaching in the Bible and I bed which men have made for them-

very intercating economic selves during war years. Some of Anything could happen to- account nii the capital spent on reservoirs and to be spent nt history. You will recollect that the foul medicine is forced down day. Quite likely our ac- Shing Mun, the return does not Pharaoh, King of Egypt, had the patient's throat.

nightmare and that he sent for

A rival gang of practitioners, count will be finally stopped Josoph, expecting no doubt to hear whom the orthodox describe as at the hotels, our wife will.

wator under the heading of asYCAN-

seem unhandsome.

TRADE OUTLOOK

some

soms psycho-analysis.. But Joseph pseudo-economists-the anteopaths

like many a Jew since was an and homeopathy of economic ten-find out where we were on economist, and he gave Pharaoh aching-assure the invalid that the Tuesday night; our boss will brief lecture on the trade cycle and violent purges administered by the the sequence of boom and slump, orthodox practitioner are ont of decide that now is the time to He went further, and, with a cour-date, and that recovery tan and reduce our salary, or our beer age which Mr. Keynes would ap must be achieved through the might go sour.

plaud, he recommended a polley.

stimulus of a few injections of in-

Trevor Thomas of Shanghai, tion, We are dependent upon the life, including State control of one-bably from the Innate vitality of the best of them, and if a black

of Mr. and Mr. Andrew Donald of Tintagel, Cornwall, and formerly of Shanghai.

The Hon. Mr. Kotewall's ples for a spirit of confidence, during his Budget speech yesterday, will be received sympathetically. There is little ground for optimism

itation. Yet the patient have faith You can never tell what trage- In commercial circles at present,

It was a proposal to inflict a plan-and say Armly: "Prosperity is dies will happen on Friday the however; trade is stendily de- clining and, as Government con- ned economy on the Egyptians in just round the corner," and the 13th.

Not that we are superstitious. fesses, there is little that can be the shape of a far-reaching degree corner will disappear.

From ono cause or another pro-We can walk under a ladder with done locally to improve the situa- of Stato intervention into economic

Canton. China fifth of the arable land, Mr. Wol-man's economic system, which aur- to Francis Henry, youngest son realisation in

generally, indeed, that there is a ter Elliott's plans to make bigger vives both inflation and deflation cat walks across our path we are a recovery sets in. The slump kick it out of our, way. In fact, stage where increased customs and better British farmers duties resalt in decreasing re-"very small beer" compared with passes away and is forgotten in the where superstition is concerned, venue, and upon the world out-Joseph's ambitions. And what is joy days of the boom, of rising we feel as reckless as a Japanese company promoter general who sends his washing side for a boost in business all more, Joseph got away with it, prices. The

well, it looks blows his brightly-coloured bubbles, to a Chinese laundry. round. Hongkong can help itself whereas Walter

But there's one thing we do in one way only, namely, continu- to me like an even money bet at which float invitingly into the hands ing to spend. Economy is not the moment of writing. To go of the clamorous public. From buck at, and that's a Friday wise at all times; If every in-back from 1933 to B.C, 2,000 odd, New York comes the glad news: when it falls on the thirteenth. dividual member of the community not only did Pharaoh accept The tape is behind the Floor." drew in his dnancial horns at the Joseph's "Seven Year Plan," but he It is roses, roses all the way. This same time, even existing business entrusted the Hebrew with its is when the orthodox economists would be impossibly handicapped. execution so that Joseph rode in shrink back into their academic the second churlot-nnd they cried obscurity like drls driven off at before him, Bow the knee; and he the dawn of day. The merry mar- (Pharaoh) set him over all the kets and the frisky bulls pay no land of Egypt. And Pharaoh aaid attention to the lugubrious foot of unto Joseph, I am Pharaoh, and the wise owls, that after the day without thee shall no man lift up comes once again the darkness.

There is, in fact," a una mpak his hand or his foot in all the land

Its. They slumped very of Egypt."

Truly those were great days for badly in the early 'Eighties, as may the science of political economy, and be seen from the proceedings at

moda The

Hongkong Telegraph.

FRIDAY, OCTOBER 13, 1993.

That's the day we were may-

ried.

see

OUR ANNIVERSARY The Very Idea celebrates its birthday to-day, so just to what kind of a damfool we've made of ourself during the past twelve months we've been thum

alinaning of the Telegraph.

In view of the fact that Christ-

*

rude

THE BUDGET

AUSTRIA'S FUTURE DEBATE

Austria has plainly begun a new Unofficial members of Leigis-chapter in its checkered history, lative Council earned the It has joined the ranks of Fascist thanks of the community yester- dictatorships. But it is well to for various make distinctions, day. The Budget debate was brands of Fascism have cropped highly instructive and helpful, up in Europe and ore filtering into the members of the British Govern-a famous dinner of economists held mas isn't far off, we now take this getting down more closely than distant lands. While exact details ment's Economic Advisory Council in 1876 in honour of the centenary opportunity of apologising to of the new system of government have not yet been allowed to ride of the birth of Adam Smith. The everybody whom twe've insulted. has sometimes been observed to are not. available, sufficient evi- in the second motor-car on State keynote of the speeches was a pro- We're sorry about all the matters of widespread public dence is at hand to show that it occasions. In fact, I suspect that found pessimism as to the utility things we've said about prominent interest. In the result, the leans decidedly toward the Italian. ever since its formation this Coun-of economists. Mr: Gladstone, the people in this Colony. We're sorry debate renched a high standard, The head of Mussolint, if not the cil has been lost in the Under-principal 'guest, whilst fearing that about all the puns we've tried to One last word economists had almost exhausted inflict on you. In fact, wa're sorry hand, is seen in the structure of ground Railway. the Officials being inspired to a the new state, which has been about the economics of Holy Writ. their usefulness, admitted that per- Eddie Kelly was ever born. little more earnestness in their erected upon a corporative basla It is laid down in Deuteronomyhaps some work still remained to be replies, implanting more colour and under "authoritative" leader-xv-vorces 1 and 2, that "At the dona in the matter of currency

seven years thou reform. ship. It was apparently not for a end of overy and enabling the onlooker to mere exchange of conversations shalt make a release. And this is Mr. Newmarch, the Treasurer of obtain a better picture of Gov-that the Austrian Chancellor visit the manner of the release: every the Political Economy Club, be ernment aims and policies. Aed the Italian Premfor at an creditor shall release that which lieved that the future role of econ

Adriatic seaport a few weeks ago. he hath lent unto his neighbour; omists must be that of producing 110.

Third Sengon to Sixth Season- better appreciation is gained of Under the new system class he shall not exact it of his neigh-the "Important and beneficia! the difficulties and problems of strife is to disappear. Political bour and his brother."

effect" of "reducing the functions To get under 100.

Seventh Season to Fifteenth Sea- administration and with im-parties are to be eliminated. The Unfortunately, Congress ecems of government within a smaller

ful-son-to get under 95. proved

Sixteenth Season to Twentieth understanding,

old Parliament is never to be re-to have ignored these wise observa- and smaller.compass." He the stored. The epoch of Uberalism tions (hence the American Bank minated against the. erection of tendency to criticism is modified. for Austria, says the Chancellor, collapse and concentrated on the one. Government department after Season to get under 90,

Tventy-first Season to Thirtieth one set of Inspectors Deuteronomy xv., another No small thanks are due to His has ended. Patriarchal coopera- next verse in

the whole Season-To get under 100. as follows: "Of a after another.. Excellency the Governor, whose tlon is to form a vital part of the which reads

new constitutionalism, and the foreigner thou maybe exact it; but time of Parliament being taken up survey covered the ground in participants in each enterprise are whatscover of thine is with thy in attempting to do for the nation

(Continued on Next Columus.) almost model form and, more to work harmoniously together and brother thine hand shall release.” over, with delightful freedom in constitute a unit in the new order. the main from indications of These are striking changes, strik- the Official Mind. The Eudget, ing not for Austria alone but for in fact, looks better after aEurope, where a great political criticism and explanation than transition is being effected chiefly it did on the first reading, al-as a result of the economic die- though some of the matters organization.

reviewed without strictly be-

longing to the Budget were more | TO BENEFIT? important. It was satisfactory,

for instance, to obtain a definite Doca Austria stand to benefit by assurance that the present state the change? The answer is not of affairs in the local passenger so difficult as might appear. Italy transport field are not to be has gained temporarily at least by permitted to continue infinite- Fascism. Even those who hope to ly. The warning given the bus see Italy eventually achievo self- companies is one that cannot government recognise that the pre- sent system is better than that be ignored; the Government are which preceded it." This is large- committed to serious efforts to ly so because Mussolini knew when effect an all-round improve-to apply the brakes. He placed a ment. Sir Henry Pollock also restraining hand upon excessos. expressed the feeling of the Is not this, then, the direction in community in his attack on which the test for Dr. Dollfuss Government letsureness in con-will lo? His ability to govern nexion with the Central British hie country with moderation will probably determine the success of School. The explanation must, his new vanture. He starts out perhaps, be accepted for what Armly opposed to anything which it is worth, although it suggests savours of union with Germany. rather that the P.W.D. is 90 He wants his country free and in- bound up in red tape that it dependent. At the same time, ho cannot be hurried. It will be harboura no enmity against the admitted that time must be neighbouring Gorman state. That given for site

formation is a significant beginning.

though it may be observed that the most complex sites

are chosen. with natonishing Bult that a well-prepared and consistency whenever an im- suitable site now lles vacant and portant pleco of work is required may remain so for some years to be done. It will be a long to come. Apart from this, time in fact before the P.W.D. there is little in the official ex is forgiven for changing the-planations of various points original site to make room for raised at which to cavil. The a Mental Hospital that is not stock-taking has cleared away nearly so urgent, with the re-many cobwebs.

"I have to make new ones for my daughter-in-law every

yogr. She loses them."

A GOLFER'S AMBITIONS First Season-To get under 120. Second Season-To get under

Thirty-first Season to Fortieth Season To get under 120.

Forty-flrat Season Onward To get all the way around the course,

•

SOME MORE SLIPS

The fire department was called to extinguish a blaze in Miss Joan Norton's hose which became ignited in some strange manner. John Irwin had the fire under control, however, before the fire department' arrived.

For a limited time the Brad- street Club, extends the opportunity for business Avomen to take advan- tago of their professional golf instructor.

SUGGESTION

Grasshoppers (to conclude: this fascinating column) sing by rub- bing their hind lega together, and if more of these ladies who broad- cast from ZBW did the same we should be spared a lot of hot con- fuaion,"

the very things which the nation can do much better for itself.”.

One voice arose in angry protost at the suicidal tendencies of his fellow economists. The great Jovons declarod: "There are atlil great possibilities for us in the future. We need," he continued, "a science of the money market and of commercial fluctuations which shall inquire why the world Is all activity for a few years.and thon all inactivity." He also..ex- pressed the view that "the great mass of the people will not havé (Continued on, Page 5.)