1934-04-17 — Page 6

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THE HONGKONG TELEGRAPH. TUESDAY, APRIL 17, 1934.

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TUESDAY, APRIL 17, 1934.

NOTES OF THE DAY THE SCOURGE OF The Very Idea!

ARMAMENTS AND FEAR

N°

WALL STREET

By RICHARD L. STROUT

HOW WE BEGAN Dy George

N these days of depression when so many people's only job is looking for one it

Heavy armaments are supposed. to play a vital part in the breeding of the fear and suspicion that lead to war. The accepted pacifist view in that nations distrust one another

Staff Correspondent, Washington Bureau of The Christian Science Monitor when they go about armed to the teeth, and that to demon- TO country was lifted higher; detachment as to witnesscs, no mat strate preparedness is A cor-

than the United States by ter now hard he has proceed them might be well if we should Lain way to set a neighbour

The financial bubble of 1929. No individually on the witness stand print our idea of how a job thinking of a fight. Som to not country fell faster or harder in the ur wits use of succeeding batties should be got. Of course all

it seems as things do tuas zangu. follow that formula. A week or of this collapso precipita 1 one of In certain respects, no two ago, a huge British flect was those periodic senatorial investiga personality than Mr. Pecora ever

odder jobs can't be got like we got. hold

manoeuvres in the Leoward tions which are so casentinny alast. In the important chair of coun- ours, but then there aren't In the West Indies. It was part of the American scene. The sel, in the long history of major many other jobs like our. the mightiest fioet England ever investigation made the reputation senatorial investigations. There is sent across the Atlantic. Not since of Ferdinand Pecora

a naive quality about him, The the day of Rodney had so great n proportion of the empire's naval strength visited the edge of the Caribbean

COMPARISON

MATTER OF CONFIDENCE

Senatorial Investigations drag on| naiveto is coupled with à contradic-} The scene is in any room with- for months, years; sometimes they tory natuteness and aubtlety as in reason: the time anytime Doom interminable, hit-or-miss, lawyer that fully accomplishes its within acason; the characters random affairs; yet actually they inquisitorial purposce. But behind anyone you please.

dredge up the mountains of facts' this is a personal curiosity that which form the raw material for begins where the professional in- Editor: (altting back in chair futura legislation and set the vestigation leaves off. There is a holding paper with bored expres- mould of public opinion for a gen- freshness and sparkle about hission) Come in, young man, come la. interest that never wears out. It

Editor: Well the first thing you must learn is not to be cynical. Take that Seraphic collar off your

nock!

Ourself: Yessir.

Take collar off.

. Editor: It takes morò than cynicism to make a journalist nowadays. It takes enthusiasm and optimism. Enthusiasm to get a job and optimism to per sunde oneself ho's going to hold

Ourself: Yessir.

And vet this demonstrationeration to come.

Twenty years ago it was the cole- there is one word that describes You want to be a journalist, ok? aroused not a shadow of fear or suspicion in the United States.

"money" inquiry. Mr. Pecora, it is resiliency. Ho And you want a job, ch No brated Pujo one has risen to suggest that these That brought John Plarpont Mor- does not have any of the Anglo-

Ourself: (wearing choir-boy's manoeuvres mequs that England is an before it. Samuel Untermyer Saxon severity. He has a curiosity

about the personality of each now celluloid collar and look of ・man- looking ahead to war with the made his reputation there. United States. Indeed, it is likely and Currency Committee. Once that of a child regarding a now,

To-day it in the Senate Banking witness which is na objective as about-town) Yesair. that not one American in 50 even

more a John Pierpont Morgan bright-coloured bail.. He wants to knew that the British fleet was on that side of the Atlantic. Of thoan comes before it: and this time it know, first, because he is hired to who did know, hardly anyone

is a swarthy-faced native of Sicily, find out; and second, because he thought twice about it. Compare son of a shoemaker, scourge of is intensely curious himself. that state of affairs with what Wall Street," who faces hira

Mr. Pecora forgets any contro happened a year or so ago, when For the past year or lenger, veray that occurred in his exam- the United States flect held Its Ferdinand Pecora has caused to ination the minute the witness is manoeuvres off Hawaii. The whole parade before him, as counsel of excused. He carrica no animus Japanese nation became alarmed. the Senate Banking and Currency rom the Senate table. Further The exercises were looked upon na Committee, the proudest captains more, he carries, as he once told a direct menace to Japan. It was of American banking. Many have the writer, "no problem. to bed asserted widely that preparation come reluctantly but they have with him." It la a singular gift, for war with Japan was the only come, partly because they could possessed by iew persons. possible motive for such action. not do otherwise in the face of aj This same quality of detachment, subpoena, and partly because their combined with an easy transition coming was In keeping with the of moods and a personal interest way the Senate does things, and in the attairs under consideration, the tradition of American demo- produces a frequent alteration of RUBBER CONTROL

The Editor: The Journalist of cracy. Some of these men have demeanour during the examination The two cases are almost per-emerged with reputations en-or individuni witnesses. There is yesterday was a gentleinan by the fecty parallel, on the surface. But hanced, or at least, undiromed; good-natured banter. Most of the standards of to-day and the journal- There is at the moment a good one passed unnoticed: the other others--and there have been a good witnessce do not dislike Mr. Pecorn. Ist of to-day only attains that deal of speculation in many quar led to an amazing amount of war many of them have been less for. They may frot and fume over the status in his obituary notice. ters as to the likelihood of rubs that armaments do not, in them ber restriction plans being put Belvea. Cause Icar and suspicion, away, broken med.

comes to a personal lasug with the into operation in the near future. after all. If the national interests

Mr. Pecorn, through all this time. inquisitor; Mr. Pecora is far too Holland and Britain are now in of two countries are in conflict, or has had one motto,

skilled a lawyer for that. He does Leem to be, then military demon- "Pick the biggest"-whether it not bully witnesses; he resists communication on the subject,stration will provoke uneasiness and is the biggest bank, like the cante even the terrific senatorial temp- and it remains to be seen what cause irritation; if fear and sus National; the biggest banking tat.on to "browbeat" bank presid- the outcome of the exchange ofpicion exist to begin with, in other affiliate, like the National City ents. For this reason, he is all, views will be.

words, fleet manoeuvres will bring Company; or the biggest banker.- better whle to extract and put Whatever the them out into the open. But like Mr. Morgan. His object has on the record, the material which fession where "no news is not good actual facts of the situation may they don't-if two nations know been to throw the white light of is really interested news." Remember Northcliffe, be, there can be little doubt that perfectly well that they are going publicity, which has a dazzling in-facta, always facts, let them "Stories in bones and nowa in the many of the reports which have to live peaceably, alde by side, as quality in Washington unknown to damage whom they may.

the Tinited States and England other lands, upon the operations

| running brook,”......... famed currency on this subject know it-then the admirala can of the American financial and

· Ourself: Yessir. have had their origin in at parade their dreadnoughts when speculative system; in short, to

Mr. Pecora's personal appear- ance is somewhat singular, and Editor: If a dog bites man will think twice about it.

the United States just what hap- pens to their dollar when it goes are full. He can set his jaw ao bites a dog-7

that the underlip protrudes tru

to

lofty places; a few have alunk spread on the record, but it never talk. Why? Perhaps the answer tunate. A few have toppled from tacts which they are forced

Qurself: Yessir.

Editor: A journalist is always infallible to the public but he never does anything right to the basa.

Ourself: Yessir.

Editor: This is the only pro-

tempts to influence the share and where they please, and no one show the Tom, Dick, and Harry of bespeaks his ancestry. His lips that's just natural but if a man

market, Industrially, Hongkong

s not interested in the issue, but

been

•

into Wall Street.

.

culently. But generally his face is

Ourself: Yeasir.

must

Journalista get a bad name for borrowing in their attempts to get the human touch. They get a bad name for 'drinking in essaying the new angle. If they do neither they get called snobs and even Editors can't be snobs. Ourself: Yessir.

rom the shareholders' viewpoint THE ASSYRIANS

An expose of this sort is like a mobile, smiling. Ils complexion he developments are being close-

marine expedition: It brings up is dark to swarthiness. His hair Editor: No. It means ho's y watched here. The plea for Give history plenty of time, and strange phenomena from the dark is the most unusual feature of his hungry or la trying his new set restriction hitherto has hit can create shifts in its-never-green depths into which the dredgomakeup: -it-la na curly and wiry out. An a journalist you

ending pageant that will leave the is plunged. Some of the material as the common material known as change your perspective.. observer amazed. It may take has made the nation gasp; some steel wool, found in the house- thousands of years, but in the end of it has made it smile; a good deal keeper's kitchen, and it is streaked from the standpoint of ironic of it has made it grit its teeth with, with gray. His eyes are dark and contrast-the results are worth it. There are, for instance, those to extirpate malpractices and in-that the witness meets as he takes grim look that bebokeng a resolva brilliant. This is the countenance Assyrian refugees who are about stitute reform.

his chair, as the frat glance is to start on a long migration from

Through it all, Mr. Pecors has exchanged in sizing each other up. the land of their ancestors to a ent at the head of his lung tau.,!There is a certain primitive faun- colony along the upper reaches of unperturbed. Occasionally, he has like quality in this native of the the Amazon, in Brazil. These mopped his forehead with a band-talian soil, brought face to face People, a mere handful, have been kerchief, in the heat of Washing-in the last year with many scions of Iraq. They are among the most voice has risen to angry emphasis living in what now is the country ton's summer. Occasionally, his of the Anglo-Saxon socially elite, may give way to impulsive emotions Any lawyer who takes over the but remember, never be a gontle- luckless of modern peoples. Last over the recalcitrancy of some job of counsel for an important minn at our expense. summer many were massacred by witness. But at the end of the senatorial investigation requires neighbouring tribeamen, and only day he has been calm and amiling, attributes that are not always easy action by the League of Nations is He has hobnobbed with newspaper to find. He must be a good exam- saving them from complete rafi.

men, kept on genial terms with iner-that goes without saying. Senatora, and preserved a personall (Continued on Page 4).

*

BUILDERS OF NINEVEH

based largely on the alleged need of rescuing the industry from complete ruin, but facts and gures recently quoted in Singa- pore would seem to show that however bad things may have ocen, the present state of the in- dustry is anything but discourag- ng. During last year, the con- sumption of crude rubber was about 7,000 tons in excess of the previous record total, and nearly 180,000 tons more than the total for 1932. Consumption in the United States was the third highest on record, while in the United Kingdom the year 1933 established a record. Morcover, n spite of the very heavy pro- auction, stocks at the close of the year were lower than during the has been found for them in Brazil. Under League auspices, a spot preceding years, and everything and they are to be moved there en points to a greater consumption masse as soon as arrangements can his year than in 1933. Many of be finished. This surely is one of the Straits companies are paying the strangeat twists that the dividends on last year's profits, ageant of history over has taken. Jand, according to the Straits For these people are the surviving Times, references are heard to descendants of the Assyrians of interim dividends likely to be

cid--the Assyrians who made their paid in the present year.

name mighty in the cast, who bui As to

great Nineveh, swept down lika how far the increased consump-destroying angels on auch folk na tion is to be explained by ex- the Israelites, and stood for the pectation of an early restriction power and glory of temporal great- scheme causing purchases whilst uess in all its splendour. prices are low, it would be diff- cult to say. There seems, how- ever, a growing belief that what is really happening is that rub- ber is beginning to share in the The great city of Nineveh is a heap. That was unimaginably long ago. general industrial recovery, and it is felt that restriction which the Assyrian turd the of sand and clay; the canals with might stifle the now de-care plains of Asia Minor inte gar mand and lend to most den spots dried up and diaph unuesirable results. Save as centuries ago; the very name of last resort, restrictions are un- what once was the most powerful doubtedly bad, for quotas inevit-nation in the world has become ably mean complications and covered with dust, so that it anomalica and the creation of ex- when we read about it in our Bibles

Bounds unreal

very far-of pensive machinery for their or our history books. And here working. As things arc, it astoundingly, is a fragment of that would probably be the sanest far-away time surviving in the plan, as a prominent planter has twentieth contury-n pitinble, suggested, for the industry and harassed fragment, enved from the Governments concerned to complete extinction only by the prepare a scheme of control and Longue of Nations, and exiled to have it ready to carry into effect of all the strange tales of blatory, a far-off Jungle to start life anow! should it become clear that the this one is surely among the only alternative is disaster, strangest,

HARASSED FRAGMENT

and

"Arthur is trying to make good use of his Saturday afternoons,

Editor: You are young yet and

Ourself: Yessir.

Editor: You will find that, we shall give you plenty of work to do but your sleeping hours will be your own and God help yoia. If you spend them In the office!

Ourself: Yessir.

Editor: Your conversation shows me that if you don't report you will at least never be reported, so I engage you for the job.

Ourself: Yeasir.

Editor. Your first Job will be to type out all we have said, tako out the "Yeasira" and memorize it. Repeat it every day. Learn it well because you will only have time to any it in, your aleap. Aftor that bring me a copy of Punch and n cup of tea and let me know when our paper comes out.

Ourself: Yessir.

'Exit with collar and job.

Twenty Years After

or The Editor's Broon Song It was Monday in the morning, and the time was nine o'clock, we had that after party yawning, as we heard the ten boy knock. And we stretched a Irg, rolled back to bed and slopt on and slept on like a rock...

The telophone bell, tinkled, a latter' camo from Home; the cold shower gently sprinkibd, our shaving brush made foam. By eleven o'clock we. wore fit an n top, and wore wielding the old brush and comb..

It was Monday in the twilight, as we strolled in the old office doors wa made sure that all was allright but we hadn't the time to do more; so wa turned out the light, bade the watch man goodnight and went out through. tho oft office door,