1933-11-02 — Page 6

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THURSDAY, NOVEMBER 2, 1933.

THURSDAY, NOVEMBER 2, 1933.

NOTES OF THE DAY

COUPON-TRADING'.

The decision of the Tobacco Trado Association to cease cou- pon-trading is likely to be followed by manufacturers of other popular commodities in England. Tho lasuca raiacd were fully discussed at the recent conference of the National Chamber of Trade when the Board took a strong stand in opposition to gift coupon and trad- ing stamp schemes, which tend to impair seriously the highest standards of retail distribution." Manufacturers operating tho schemes were asked to bring them to an end in the interests of fair play between producer, distribu- tor, and consumer, nud it was intimated that failure to comply might lead to recommendations to the President of the Board of Trade. Now tobacco has taken the lead, the soap experts and the rest may be expected to follow sult.

*

FUTURE OF BRITAIN AND INDIA

VITAL BOND OF INTERDEPENDENCE

By H. J. MOTHERSILL

IT is now nearly three hundred the foot of the gateway to the and thirty-three yours since the East, and the East and South East India Company was in-coasts of Africa, vast territories

corporated to exploit the trade where great future possibilities Ho for the development of trade both with India and the Far East.

Originally formed mainly to for Great Britain and India. compete with the Dutch, it soon And yet in discussions on the came into contact with commercful past and future. Government of rivals of other nationalities, and India, Ministera, politicians, Civil consequently there was from 1609 Servants and administrators, and a great increase in the building of some newspapers which ought to ships in England, and the con-understand the position better, struction of the famous "Enst seem to be quite obvious to the Indiamen, which became the fact that without commerce their finest fleet of vessels in the world. services would be no longer need- Throughout the Seventeenth Con- ed, and many would be forced tury they had to fight not only either to join those on the "dole," Malay pirates but the armed trad-thus still further helping to in- the income-tax, or, more ing vessels of Portuguese, Dutch crease and French competitors. Even- tragic still, what are known as Lually they took the command of "the black-coated unemployed." the Indian Ocean, the necessity until within the last few years, tien of those mentioned above look for which has been recognised, But, since such a large propor- by all statesmen responsible for upon commerce as of quite second- the maintenance of the Empire. ary or of little importance let us Treaties were arranged and trad- briefly illustrate what the trade ing posts, called factories, were and financial relations between established by the Company; and each country really mean to both after foreign rivals and native India and Great Britain. powers, Mohammedan, Sikh, and

AUSTRIA LOOKS UP

A volume on "The Financial and Economic Position of Austria has been published as one of the re gular series of the Department of Oversens Trade. The report is the work of Mr. E. C. Donaldson Rawlins, Commercial Counsellor in Vienna. As the collapse of the Credit-Anstalt in May, 1931, was the beginning of the climax of world-wide insolvency reached in that year, it is a cheerful thing to learn from the evidence here given that signs of recovery are now cropping up. Currency restric- Mahratta, &c., had been overcome, Lions have been removed. Schul-nence for successful trading was Ing credite due to foreign sellers finally secured for India. are now allowed to be used for the purchase of Austrian exports. Import prohibitions and the im port ilcence control have been re- laxed, Governmental finance la more hopeful, and trade in slowly

WAR DEBT OUTLOOK|reviving.

racing

BB

•

one of the secrets

FRANCE'S FINANCES

*

The Very Idea!

BIRTH OF A NOTION · SCENE: The Amalgamated. Arts Film Corporation's studios ni Tooling.

THE BIG CHIEF: Now, Mr. Pum- pledinck, this is to be a picture about a Duke. Seven thou- sand feet, and you can have the cabaret sot we used in "Sinful Woman.” ****

MR.

PUMPLEDINOK (lately imported. from Hollywood on a £5,000 por picture contract, plus free lunches during production): O.K., chief! Any special plot? THE BIG CHEP: No, the usual ono

about the Duke. You know.

MR. PUMPLEDINCK: OK, chiefl Who ya got for the shop-girl? THE BIG CHIEF: You can have

M198 Mayfair or Mine Shapoleigh.

MR. FUMPLEDINCK: 1 use both. Miss Shapeleigh for the lin jerce sequences, and Miss May- fair as the heart interest.

THE BIG CHIEF: Very well. See

that the charactorisation is true to life. Lot thom be ordinary, decent English people.

MR. PUMPLEDINCK (as an after. thought): Oh, say,. can I use the bathroom set out a "Vlle Men"?

From the years 1929 to 1932 the THE BIÙ CHIEF: Certainly. But nó average yearly imports Into the

goat's milk, mind, United Kingdom from India totall-

་་་ ed £48,820,000; and the exports The same scene, a few days later. from the United Kingdom Into The final sequences of that heart- India for the same period averaged torturing drama of English life, £51,137,400. Both in imports and

"Society Sinners," are being shot, THE DUKE OF BELGRAVIA (or, more "

It was in the beginning of the Eighteenth Century that the British administration of Indin exports there was a big falling off began, and it was carried on under In 1932 from 1929, due largely to the control of the Company's die world depression and the low price rectors until after the Mutiny in uf commodities; and also in 1858, when the Administration British exports to Indin by the was transferred to the Crown "for high tariffs against textiles and the better Government of India." disastrous Japanese competition, Thus under the British Raj this But of the total exports of com-Many (in other words, Misa Sylvia great continent became an entity modities from India, about 28 per cent, were exported to the United Kingdom.

for the first time."

Now, in this very brief retro-

correctly, Mr. Gilos Delmont, of the West End stage): Mahry, mai deah, Al want yer ter be mal waife.

Mayfair, also of the Weat End stage): But, yer Grease, Ai em onlay→→→→→

Does it metter? Al lerve yer, Mahry. Con't yer see Al lerve yor?

But thet other wuman--

The British war debt negotia- WILL HE? tions in Washington appear to have made progress. There is Blamarck, it le pointed out in no hint yet of the stage reached; The Observer, was wont to speak and the official communiquo of England's addiction to horse- issued yesterday declares that of her political stability. It will nathing has been finally settled; be afforded every play in the next spect, lle the problems facing the If we turn now to the shipping but it is impossible to overlook day or two now that the chance of British Empire to-day, of which interests we find that the number THE D. OF B.: Ai knou, Al Khoo! the significance of the confer-Gordon Richards breaking India is the greatest asset. This of British ships entering Indian ence at the White House. Only Archer's record has been fairly Empire, starting with merchant porta in 1929-30 was 2,270, re- two interpretations

Initinted by gistering a tonnage of 6,433,354; can be posed as a popular issue. Even adventurers, was placed upon the visit of Sir bishops will be able to scan the commerce, built up by commerce; and in 1931-32 1,859 vessals with MARY (wistful, but still refined)

without Ronald

raising the Government and Ita adminis- a tonange of 5,590,550. The Bri- Lindsay

news and Sir racing Frederick Leith-Ross. Either a

the suspicion of having an invest-trators, the Army, the Navy and tish Indian ehips numbered 237

Civil Service were formed, per- and 195 respectively, registering a THE D. OF B.:. She hes noo pakt in

mai laife, Mahry. basis for an agreement has been ment with Duggle.

fected, and kept up to a high tonnage of 84,720 and 81,493; submitted to the President for

standard of efficiency to maintain whilst the Interportal shipping his consideration, or a dead end

and so assist in increasing com- trade amounted in cargous to MARY (almost inarticulato with culture): If Al cud onlay has been reached by the negotia- M. Sarraut will meet the Cham- merce, the flag following the trade 20,659,402 tons entered; 20,576,105

b'llove 'thet; tors and the President's in- ber to-morrow with the situation in the formation and development tons cleared.

As regards the railways there tervention had as its objective complicated somewhat by the of the Empire. If, therefore, that

muh, Maury. the discovery of a new avenue American gol policy developments, commerce is allowed to decay and were in 1924-25 38,270 miles, and THE D. OF B.: Yer must b'llove for approach to agreement. No- A statement regarding the future India, the keystone of the Empire, in 1931-82 42,281 miles; thus over

of new lines were Many (choking with good breed. ing): But A, Al em only a thing is certain although several of the frane will be expected and is lost for our trade, so surely wili 4,000 miles points are already clear. Quite it lo impossible to any on what side the Empire decline even as in the added to the Indian Railway sys

peaḥ shop-gel, end she as important to the White of the fence he will come down past every nation which has lost tem during the eight financial His Finance Minister, M. Bonnetits trade routes has decayed. For years ended March, 1932, and House as the amount of the has declared again and again that one has only to take an atlas and capital expenditure on State-own- THE D. or B.: Ai lerve yer, Mahry. Bettlement is the manner in the value of the frane must be look-at the map of the world to ed lines (excluding purchase of which it will be couched. The maintained; but there is quite an

see that India is the hub of our lines) amounted to £100,000,000. settlement has to be made pre-active group among the younger Empire in the Eastern Hemi-

In finance the Indian sterling sentable to Congress. In Ameri- Radicals who hoki that there is sphere.

loans quoted in London amount can parlance, a good deal of something more important than "gunning" for the President is maintaining the value of the franc,

approximately to £205,600,000 of prophesied in January. Like and that is stimulating the revival

British capital; and those do not of trade. Some of these young

take into account the some business men, legislators Radicals even argue that a certain

millions of rupee toans in which half regret that, in a moment and momentary degree of inflation

large amount of British capital of desperation, they handed over might be salutary by inspiring

Leaving finance for the moment,

DEFLATION

*

On the East and South-East He Burma, Malaya-with the groat entrepot port of Singapore-Hong kong, Australia and New Zealand; though to be strictly accurate New Zealand comes just within the Western Hemisphero.

On the is invested.

*

*

many

A shell revnh let yer goo, novah

MARY: Novah 7 MR. PUMPLEDINCK: O.K., folks!

Cut! Now we gotta run. through that cabaret scene again, and I want ya to git more English atmosphere In- to it this time. George! Have then Hot-Time dancing golla come on

months later.

MRS. HOPKINS (emerging from the stalls exit): Hit's a fair treat to see a Henglish picksher after all that Hamerican trash, Ain't It?"

MRS. HIGGINS: Yus! I likes to 'car Honglish spoke proper moself, I do.

to the Chief Executive such a just sufficient distrust In the South lies the Island of Ceylon largesse of dictatorial authority stability of the currency to liquidate with Colombo, which is the port there are dwelling in various parts as is contained in the various some of the phenomenal hoarding of call for the steamship lines be- of the Empire some two to three SCENE: Outside the Superlative Recovery Acts. How they will which is at present killing the tween Great Britain, Europe, and millions of Indians in positions of Cinema, where that heart-torturing, theso Dominions, Crown peace and security under the pro- etc., etc.,.'drume of English life. behave depends upon the inter-chances of business activity. Others all vening circumstances. If the again argue that balancing the Colonica, and Dependencies, as tection of British Administration. "Society Sinners," is on show some

well as the Dutch East Indies, Amongst them there are many in Budget in a moment of stringency China and Japan. On the West commerce and professions, and people lapse into their quondam like the present is by no means

(Continued on Page 4.j despondency, if the President indispensable, and point out that lies the port of Aden, situated at loses his grip on the popular France in the past has often got imagination, the war debt settle along with her Budget unbalanced. ment might easily provide the occasion for the gunning. Several assumptions have been made since the British negotia-

These beterodox views, or at least tors landed. One is that a final some of them, are even believed to be held by certain members of solution, not a temporary ex the Government, such as M. de pedlent, is being sought. Mr. Monzie, M. Francois Albort, M. Roosevelt Is believed to be bent Pierro Cat, and M. Queille. M. upon working for the "ultimate Sarraut, however, is inclined to settlement of the whole debt lean. to the Right rather than to question" mentioned in his June the Left, and though it is un- invitation to confer. The next certain whether he will plump for assumption is that the capacity deflation the few hints given of to pay formula has been thrown his policy suggest that he will. In overboard. That pathetic effort any case it is probable that he will associate with the Budget to pry into a future that could certain monsures for dealing with. never have been dreamed, let the economic crisis which may be alone estimated, was the handi- enleulated to proservo hlá de- work of Treasury officials un-mocratic reputation. Thus thore der Mr. Mellon. Nowadays the is talk of an ambitious scheme of Treasury is under no illusions public works, to be financed by a that it can ever be reinvoked, loan-which will, of course, in- chiontally incre.go the national.

It is true that the British are debt charge and proay upon the engaged in making a pro forma Budget. There le hilse talk of explanation of their Incapacity drastic reduction of high prices by, to pay. But the real formula regulations, of protection for on the British side, seems to small investors, and of preferon- be: This is what we will pay. tial terms. for French Colonial And on, the American aide it is: produce. How can we improve the offer, and how can we wrap up the re- portion of them partake of sult for consideration by Con- interest. The British are gress? The only hint as to how reputed to be making an effort a final settlement will be dressed to have this. contribution up is that the President feels treated as principal repayments. that the point of attack in the This would then leave another scaling down process lies on the half to be liquidated, or around interest charges. While Britain two billion dollars, which would has made payments totalling be raised in several instalments about half of the sum originally from American Investors and borrowed, by far the greater transferred to Washington.

"Except for that good looking fellow at the soda fountain

this whole resort is n failure."

SUCCESS

Only a few minutes left now, thought the youth. Soon he would accomplish the well-nigh impossi- blo. Great beads of perspiration. shone on his forehead, chilla pass- ed through him, na tall, massive monuments of stone crashed by dangerously close. Many times he skut his eyes in fear of the conse quences. Many times he wanted to turn back but would not.

Then when he most feared that ho could not go through with It. the exit loomed before him.not a hundred yards distant. A vic torious smile Illumined his fnco. He had won against overwhelming odds. He had negotiated the Re- pulse Bay road for the Orst time in his now. Austin.

One case of typhoid was reported to the local health authorities on Tuck- day.

The public are informed that the postage on parcels for China has been cohaldorably, reduced. Z.

Mr. Goor White, B.Sc., of the Junior Technical School, will delivorn lecture to the HK University Educa tlon Society to-morrow at B p.m. in the Union Assembly Hall of the Univer utty.