1933-10-31 — Page 18

"There's a spirit abovo, and a spirit below,

A spirit of joy, and a spirit of woe, The spirit abova in the spirit divina, The spirit below is the spirit of wine."

FINEST

OLD BROWN LIQUEUR

“E” BRANDY

Exquisitely mellow and of fine aroma, delightful to the palate, is unsurpassed as a liqueur brandy,"

BOTTLED AT COGNAC, FRANCE, ESPECIALLY FOR

A. S. WATSON & CO., LTD.

WINE & SPIRIT MERCHANTS, EST. 1841.

BACKED BY OVER 50 YEARS

EXPERIENCE

of manufacturing instruments for

this climate.

THE MOUTRIE PIANO

is a safe investment.

Fully guaranteed

and outstanding for tone

touch and appearance.

Let us send you catalogues and full particulars

of our terms.

York Building..

Tel. 20527.

Chater Road,

STOP

Here is something

of

interest

every golfer

to

Steel Shafted

THE HONGKONG TELEGRAPH. TUESDAY, OCTOBER 31, 1933.

USED CARS

The following

aro avaliable, Inspection and trial invited,

NOTES OF THE DAY

TROUBLOUS DAYS

LAY THIS INFLATION

BOGY

THERE ARE GOODS IN PLENTY IN THE WORLD

By PETER BROWN

The Very Idea!

LET'S JOIN THE NAVY

By Edward "Columbus" Kelly,

SUCCESS of Navy Day:

last Saturday has promp ted the query "Why are British Naval ships never featured in films?”

All the nows these days scoms to consist of crises and rumours of crises. A Cabinet falls in France. Riots ascompany olcetlona in Spain. Araba riot in Palestino. Mr. T. V. Soong resigns,, The Grau San Martin Government in Cuba is on the verge of collapse. An English journalist is arrested in Munich. A shake-up in the

THE world is as right as refa, doubled the manufacturers, know. United States Administration

If it only know it,

ing this, vill immediately double looks possible. And a Labour

The necessaries and comforts of their prices." candidato captures East Fulham! Most striking of all, the world, life aro available in abundance. Why? Their production costs from America contrives to economic depression is almost One But we refuse to make full use of have not gone up overnight. In- introduce either a warship, Hundred Per Cont. responsible, them. Because a mystery is mado creased prices would be sheer pro or an airship, or some other directly or indirectly, for each and of money, which is nothing but steering, and would easily be ship of the ik. every development that has pro- the means of distributing all the checked. vided a hend-Ling in the last fow good things.

MORRIS OXFORD TOURER Good rurining order $450 CHRYSLER TOURER

(Sold).

CHRYSLER ROADSTER

(Sold)

HUDSON TOURER

Perfect order ERSKINE SEDAN

Excellent condition $1,600 ESSEX TOURER

$550

$1,750

$1,500

(Sold) STUDEBAKER TOURER

(Sold)

$1,650

$650

out a radio.

T. V. SOONG

*

HONGKONG HOTEL

GARAGE [Show Room) STUBBS ROAD Tel: 27778-9.

the

Hongkong Telegraph.

Practically every picture

The truth is that if additional The reason is that that the Contrast this contrariness with currency le fasued rationally and

days. Yet life, in the main, goes on much as usual. Ninoty or the common sense that prevails applied rationally, it will be dif British Navy doesn't have cent. take but a casual interest. ordinarily in everyday matters. ficult to profiteer. Industry and half the fun the American gobs. The remainder split into dlame-

The channel through which goods trade (and the banks) will cer do. British anilors have to be trically opposite camps, those who

tainly make greater profits, but on duty at the right time; they era of world change and those who and it is simply common songo hankes for a desert island-with-that this channel should be widen- main from increased turnover.

fool it great to be alive in this pass to the consumer is currency1the extra profits must come in the Jare not allowed to throw pies at-

Un-

Gold has nothing whatever to do

a

As for na we can judge from City shows such altruistic concern films, almost every American bat- If the growers could sell their tleship has several of the most present surplus (ie, wheat pro-attractive female film stars among duced but without a market) at its crew. Besides having a wife in the samo price as the wheat thoy every port, the American sailor do manage to dispose of, their has two or three on board as well, affairs would immediately become thus competing with Solomon for profitable.

the title of Wise Guy. These girls can usually say very little

ed as required. The amount of Prices will rise only when the de-the Admiral; they are tied up currency must bo capable of cop-mand catches up with and exceeds completely with red tape, howsors, ing with the quantity of goods the supply and there is a good lanyards and other yarns. available for passing on.

deal of leeway to make up in this The American Navy, as overy direction. Mr. Soong's resignation has

film-goor has seen, enjoys, a won- ahaken Shanghai severely and no- with our ability to produce wheat the amount of currency is doubled wear hats that fit all the girls This is the way to put it:-If derful time. To start with they one will question that he takes and consume it, to make and use and used to widen the basis of they meet. When they go nshore away with him one of the maina motor-car, props of the Nanking Govern-

As a monetary medium, the inert normal purchasing power, the no one bothers if they don't come ment's stability. Bankers have yellow metal that hypnotizes the manufacturers already operating back at the correct hour. If the given him crudit facilities which economists" is a pitiable make on a margin of profit will be able captain makes a fuss at their boing they would have hesitated to grant shift, resorted to on the unwar doubled turnover. Those now any, "Aw, cap'n, give us a broak,”” to double their profits cut of a four or five days late they just to many others in times of n rantable assumption that there is said to be producing at a loss will and everything is O.K. tional turmoil. He remains among no such thing as good faith. the fow Chinese leaders whose

Gold is intended to serve as

also be put well on their feet. As integrity and singleness of pur-

An example, take the wheat- have gone largely (1) The international standard growers of the West, for whom the pose questioned even by his political of value and counter of exchange; foes. His resignation appears to (2) The "anchor" for currency. have arisen from the instincte, each ounce of gold carries for commonsenso; the country's definite amount of currency.. finances are already In too

NOTES WOULD DO AS WELL. 'parious a state to permit further excessive military expenditure to

Now (assuming both of those be countenanced by f sound functions to be legitimate) let us financier. Mr. Kung takes over suppose for a moment that, at a · Let us define inflation. an uninviting, thankless task given time, the nations' stocks of with all good wishes and a fooling gold had been replaced by inter-yond a certain backing" of gold? boy" and also (after reaching Is it the issue of currency boboyond "Aw g'waal": "Bay, big that he is, perhaps, the next bent national monetary notes ench It is nothing of the kind. That port and meeting some of the other man in such an emergency. But note representing one or more there would be widespread satis-ounces of gold.

is the bugaboo "Inflation" of the wives), "But I don't understand." In twelve months time, it faction if Mr. Soong could be pre

The passing to and fro of these valled upon to reconsider his de-

Goods are produced, The idea

These film stars causo great fun may be possible to get a good cision-If it did not also mean the notes would have served exactly is to use them. To exchange then on board because they will not idea of the way the American surrendering of his principles.

the same purposes as the transfer The means of exchanging goods la stay put. They pop out of their of actual gold. In addition, this money, (Barter is for bar- recovery programme is going to

procedure would have had the barians.) To exchange a certain is passing by. They cause the hiding places just as the captain work out. The one thing clear

enormous advantage that, as world quantity of goods, a cortin amount anilors to forget their duties so to-day is that all signs fail in a The unrest in Palestine provides requirements expanded, the num of money is necessary. To ex-for us to leave a bucket of white- time like the present. The another striking example of the ber of international "gold note change double that quantity of wash at the bottom of the ladder United

increased ac goods double the amount of money down which the visiting admiral States is

interdependence of peoples in this could have been trying

common modern world. It seems to be a cordingly. Always by

Is needed. And no more.

is about to walk They got in the something so completely new direct repercussion of the rise of agreement-no possibility of any

INFLATON IS THE ISSUE OF kitchen and put mustard and that an observer has nothing Nazidom. Jews find existence country monkeying about on its

And as each International CURRENCY BEYOND THE Pepper in the chief officer's Ice dependable to go on. Every-next to impossible in Germany and own.

cream just when he happens to be thing is adrift, and

leave in their thousands. An at- note would have carried a definite tempt is made to speed up the amount of currency, the amounts/AMOUNT NECESSARY TO EX-also entertaining a hidden ledy scheme for providing a national of the national currencies would CHANGE ALL THE GOODS friend. home for the Jews in Palestine, have been increased an well and AVAILABLE.

TUESDAY, OCTOBER 31, 1033,

AMERICA'S PROGRAMME

ever. Does the

about

ARAB UNREST

"economista."”.

Cause. B

'+

*

TEE-TIME

replied the

That's Jolly

"Yeah, not too bad,” replied our pai, oh pal, oh pal, "but I'm hoping to do better at the second hole"

MIDNIGHT FOLLIES

Sha: "A pretty time of night for you to come home?"

Us: A pretty time of night for you to be awake!"

She: "I stayed awake for the Inat four hours waiting for you to come home."

the only prediction that seems safe is that when the various blocks have all been put together arms the Araba---the recrude the growing needs of domestic currency la reached when further Conference can be persuaded to The quickening of immigration rendered capable of dealing with Saturation point in the issue of Ferhaps the next Disarmament again the picture will look like sconce of the disturbances of a few trade.

Issues fail to increase the turnovor save the British Alm industry by nothing ever seen before. It is years back was almost inevitable. That procedure is, in principle, of goods when (after every pre-elther (a) making America disarm, S. MOUTRIE & CO., LTD. For this reason that all the The outcome is uncertain. The practicable tie-day done, cut, caution against profiteering has thus reducing unfair competition, learned attempts to analyse and worst may be over; or may yet when all is said and done, all cut-been taken) further issues merely or (b) allowing some of the pret

corresponding rise in tiest film stars to join the British dissect the recovery programme be to come. So much depends upon rencies are still ruled by gold. A ure--so-contradictory. No two- the resource and tactfulness of the simple operation will restore pro- prices...

Navy. man on the spot. So far they seem sperity--Inoredeo the amounts of As to the "backing" for curren- critics get the same result. to have managed well in difficult all currencies in the same propor Does the arch-conservative com- circumstances: If the Arab lead-tion, madtiply them all by the same ey. It is goods that are to be ex- plain-as one did recently-that era can be brought to the council number. Allocate half of each changed. Goods are the backing. President Roosevelt wants "the it is getting almost impossible table further bloodshed may be resulting multiple to the nation as

We met a pal of ours at the to tell the news from Moscow | avolded.

currency, and half as international dollar to have the same value a from the news from Washington

generation hence." The only way Kowloon Golf Club last Saturday notes. these days? Elsewhere you can CUBA'S PROBLEMS

As soon as sufficient money la to maintain the prices of goods at just as he came in to the 19th Hole find the arch-radical protesting

provided, it will be possible to pass the same level is to issue sufficient from his first game,

"What was your score?" asked that the whole business is just since the Hotel National, carnage But when expansion of currency is produced. Plenty of goods and another member.

Cuba has been remarkably quiet on the goods that are hung up.currency to exchange all the goods to little and prices falle "Seventy-two", enthrone privileged wealth fored. The fairly long Interlude up their hands in horror. Try to Too much money and too little novice.

studious seems, however, to have contribu- make our fieah creep with a bagy goods and prices rise.

"Seventy-two? jeconomist prove conclusively, ted littlo to the achievement of they have dubbed "Inflation." "Economice"? It is elementary good."

with graphs and columns of ordered government and the cal-

A representative "economist" arithmetic. Ask any schoolboy to figures, that the kind of economy Lapse of the Grau San Martin re-made this statement recently: check this over: represented in the industrial gime seems imminent, all casential "If the amount of currency is

(Continued on Next Column.) and agricultural control plans standstill by a general atriko, acrvices having been brought to a cannot possibly work. You can which the government is helpless find books by equally studious to meet or to minimise. The weak- economists (written before ness, of course, is the dependence March 4) proving that only upon the support of the student through a planned economy simland ABC organisations, both of lar to the one now being at-which are ready to criticise but tempted сам a mechanised offer little constructive assistance, modern society survive. The he will meet with very similar dim- If Dr. Cespedes agrees to return, doctors, in other words, disagree culties, although his Ministers and about as thoroughly as can be advisers will probably be more able imagined; and the more thought- than those Dr. Grau San Martin ful and learned they are, the has been able to gather around more they seem to differ with him. Very roluctantly the obser one another. What it all comes ver begins to wonder whether the down to is the fact that America law and order by forceful methods Machado mothod of maintaining is set on a road so new that the

was not the only anfo one in maps have got to be made up as Caban circumstances. [as she goes along. The famous war-time song "We don't know whero we're going but we're on

A San Diego youth was sen our way fairly represents the situation. It is just as true day for confessing to a murder tenced to a year in gaol the other with the decision to purchase which he had not committed. San gold abroad as it is with the in- Diogo had a murder which drew ternal programme of the gold a lot of publle attention. This plan. President Roosevelt doubt- youth, desiring. a tasta of Jess has an objective, but he can notoriety, went to the police and only achieve it if other countries confessed. In a short time the are prepared to submit quietly, police proved that he did not know which seems most unlikely. That what he was talking about; but is the danger in the situation. Instead of turning him loose they Domestically, the United States justice, and now he will have a charged him, with obstructing can do much as she likes. The year in which to meditate on his ability to push through the pro- folly. Hore is a step which might gramme depends upon whether profitably be followed in all such democratic society can live up to cases. Unsolved murders frequent- a surpreme teat, and produce the ly bring "confessions" from necesanry aptitude for the notoriety-seekers, and they are a DEPT.selence of politics. Outside tremendousquisance to tho America, it impinges on the ideas authorities. It is safe to suppose of other countries and a cur- that the nuisance would be con sidorably'abated if a good stiff rency war seems inevitable."

dentenco wore the price

GOLF CLUBS $12.50

Among our newest arrivals we find

Joyce Wethered Matched Sets for Ladies

Have you tried the new

BROMFORD BALL!

LANE," CRAWFORD, † TD.

SPORTS Phone: 2815

*

ONE LESS NUISANCE

"How do you or in this, Paddy? We didn't plant any coun-

flowers here.

Usf "And I have been keeping myself awake for the last four hours at the K.C.G. waiting for you to go to sleep."

INTO THE BREECHES

Of course, you know that lo distinguish the lady wearing pants from her male companion, it la only necessary to observe which one le Hatening.

Available 6 orangos and 6 | pence-price 1d. each; 12 oranges and O'penco-price d. each (if Be the "economista" "suggest, 1d. oach is still charged, half of the cranges will be wasted); 0 orangos and 12 ponce-price 2d. each.

But, 12 oranges and 12 pence- price 1d. each, again.

MORE MONEY-MORE WORK

Now, let us visualise the effect. of currency expansion la present conditions. Say additional cur roney is fasued and used for pay- Ing full wages to unemployed workors in return for work of publle utility. What is the ranult? These workers gro able to buy more goods. The public. In gener- (Continned on Page 8.)