1934-08-07 — Page 18

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THE HONGKONG TELEGRAPH.

Buccess REGISTERED

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THE CAR

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MY 1934

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TUESDAY,

NOTES OF THE DAY

PEACE AND SUSPICION

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Vauxhall flobe. A comfort lover's car with deep-form-Stling west and Vauxhall No draught Ventilation. An emay-to-deira car

'AUGUST · 7, 1934.

SILVER-PLATING THE AMERICAN TREASURY

numerous

By LEO PASVOLSKY

The Very Idea!

THE BOOK OF ASUWERUS.

CHAPTER II

NOW the people of Kong de-

lighted in feats of skill, and excelled one against the other;

2. For many strove to hit ball, even a small white ball, thou- sands of cubits. They hit them in. the country-side, and continually prayed fervently that the light uf. day might extend until the round be finished.

with light, effortless controls and Vauxhall | influence in Europe to-day la yafn: borne oven a semblance of renson-wns to be retained by the Treafudges of find points. And there

Buper

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the

Hongkong Telegraph.

TUESDAY, AUG. 7, 1934.

LABOUR AND WAR

At a moment when fears of another European conflagration | BOTH ENDS.

in the summer

soundness,

7. And

狠

the

there were other mysteries to guard the craft and also there was great controversy. For one would guard his cattle and stand squarely in front thereof.

The maddest thing about the mad world of to-day is the com- bination of an

almost universal desire for peace, with intensive diplomatie activity-some would

THE only good thing one can than 10 and not more than 25 per call it intriguo-that bears

about the silver cont above its current world price. overy appearance of being ultimately purchase act, introduced in Con- Second, the Secretary was to be designed for another test of armed

gress as an Administration bill directed to nationalize stocks of strength. That provides the error

on May 22 and signed by the sliver held in the United States at and they practiced their games into which so many observers President on June 19, is that in price not less than the highost | In divers places. persistently fall. The strength is less harmful than any of the world price on the day preceding of, say, France's interest in the

measures previously the issuance of the nationalization preservation of peace is allowed to proponed by individual congress-proclamation. all the entire picture for them: men and renators. Apart from And third, he was to be directed measure has nothing to purchase, after Jan. 1, 1935, not including very other tendency, this, the

the most important and whatever to recommend it. It is less than 50,000,000 ounces of dangerous, the refusal of thono nations who proclaim their peace unnecessary piece of legislation of agricultural products, at prices an economically bad and wholly silver a month, in addition to the amounts nequired through the sale ful Intentions to drop their_sus- The repeated surrender of thejof

3. For oft the way thereof it. picions of their neighbours. Even

two houses of Congress and of the to be fixed by himself. In no case, was rough, and evil spirits abound- an almost unanimous wish for President himself to a small, but however, was the purchase price ed, even as n bogey; and they peace cannot in itacit prevent war clamorous and persistent, group of silver to exceed $1.29 an ounce. and certainly not when it is accom- of pro-silver congressmen and Against each ounce of silver, in the spirits down, with many pray exercised the spirita, yen they put panied by a steady preparation for

senators is one of those political whatever manner acquired, the ers and objugations. Yea verily the worst.

mysteries that defy rational ex-Secretary of the Treasury was to their tongue it was strong with planation. Not one of the numer be directed to issue $1.29 silver mighty Baylogs. For how else ous arguments in favour of "doing certificates, a part of which was to might they prevail? : something for silver," advanced in be used in payment for the metal and out of Congruas, has ever purchased, while the remainder 4. And others served in the Search for a possible stabilising

Courts with vigour, thay ware, abloness or

Those as its profit and put into circula- though it does not follow that it arguments have always constituted tion by way of government expen-was often talk of service and love. will not appear, Economic re-nothing more than verbal folfage diture. For some utterly unac- but little of charity. For one covery, for instance, if it could be not produced as by the stroke of around the rent objective of the countable reason, not only silver strove for advantage over against enrichment af certificates, but also all other the other continually; one was set mugioian's wand, would alter the movement-the whole complexion within a week. silver producers and of specula- forms of currency in the United against the other.

tors in that metal at the expense States were to be made redeem-

5. Peradventure they favoured In the meantime, however, Europe of the

rest of the community.able in silver coin. is geen entering upon a new, do

Yet the silverites have marched | The only Umilation on the pur-another game, named after cisive stage of forming alliances.ateadily on, from one victory to chases of silver and, consequently chirping insect, tho' none can tell

rouson thereof. And Tint it is still too early to define

another.

on the amount of inflation that the the precise alignments which are emerging is admitted even by those

Their first success was achieved they could occasion, was that the players prayed continually to their engaged in conducting govern

of 1933, when a purchases were to continue only god, cren to the god Owzat. mental policy. But

6. And they mado,a mystery of provision was written Into the until the price of silver would rise trends and broad outlines of coming alliances Thomas amendment, authorizing to $1.29 an ounce, or until "the their craft, for one would seek to the Treasury to receive silver in general domestic price level. as throw a bail over against another. can already be discerned. And in a world nudly arming and re-arming Payment of the war debt instal-measured by the Index of the and he that presideth would call the policy of grouping military ments falling due on June 16. Bureau of Labour Statistics shall him Noble. Yet again they would cross over, one against the other, Then came the international aliver equal the price level of 1920. powers into rival camps seems only

the records 12 too inviting. Germany, Italy, Aus agreement in London, negotiated! Thereafter they were to cease and and inscribe on

entirely on our initiative in be resumed only when either the maiden, tho' no woman be within tris and Hungary the same Triple accordance with which the United price level or the price of silver their bounds. Alliance which persisted up to the moment of Austria's war declara-States Government undertook to would fall by as much as 8 per tion against the Serbs twenty make purchases of silver roughly cent. Since no one could possibly years ago are again coming closer equivalent to our domestic produc-foretell how much silver might together. France, Russia, Czecho- tion, of that metal. This under- have to be purchased in order to Slovakin and Turkey are regarded taking, was carried into effect in achieve either of these two objec- as the nucleus of the opposing December, when the President, by tivos, the limitation would have forces.

an executive order, directed the been clearly of a most indefinite Treasury to purchase all demes-nture, tically produced aliver at 64.5) * cents an ounce, or roughly at 50

The new act jettisons most of per cent above the then prevailing the important features of the Dies are openly voiced, it is of Britain is viewed 113 "playing market price.

Thomas measure. The provision interest to turn to the attitude | both ends from the middle" and as

Not satisfied with this substan- for marketing agricultural sur having reverted to her post-tial achievement, the congressional pluses has disappeared altogether. of British Labour on the ques- Napoiconle policy of striking a silver bine began to press for So have the mandatory prescrip Now the residue of the people

This has recently balance of power between France further advantage. On March 19tions with regard to specified been clarified at a joint meeting and Germany, enabling her at a the House passed the so-called monthly purchases of silver. So delighted also in skill in games, given crucial moment to throw her Dies bill. When this measure has also the absurd provision for especially skill in others. For it of the TU.C. General Council, weight in the scales on whichever reached the Senate, it was referred the redemption of all American/pleased them to show their skill

as it were by proxy. the National Executive of the side her interests may command. to the Committee on Agriculture, currency in silver dollars.

2. The silver purchase. act does

And there were many games Labour Party, and the Executive can be admitted that Austro-Ger-plan for action with respect to provide for purchases of silver by that they favoured, and paid many Committee of the Parliamentary man relations at this time continue silver, and in its new form was the Treasury, but in

more shekela that they might direct; for Labour Party. The fundament to be, to say the least, unfriendly favourably reported to the Senate flexible manner and with a differ- those that clamoured to the gods faf idea for which British Labour art or covert annexation of Aus- | spokesman for the committee. It important mandatory feature in thold that side would win..

and that Rome's fear of Germany's by Senator Elmer Thomas as ent sort of limitation. The only and made the mightiest noise, be- stands is that peace must be con tria remains wedge between was at this juncture that the the declaration of policy that "the ceived as a positive constructive Italians and Germans. The opin-President stepped into the fray, proportion of silver to gold in the 3. There was an especial game, S. MOUTRIE & CO., LTD.enterprise in the building up of ion-prevails-in-Europe, however, and the Administration silver-bill monetary stacks of the United wherein all were leagued together that the centrifugal force of a

was hammered out by Treasury States should be increased with and the bystanders would eali a co-operative world common- rearmed Germany will draw Aus experts and the representatives of the ultimate objective of having loudly upon the fowls of the air. wealth, and it contends that the tria into its orbit, while Italy's the silver bloc

and maintaining one-fourth of They would curse with a terrible anti-French bins causes Mussolini The Dies-Thomas bill provided such monetary stocks in silver." curse he who bore the scales, if it fold negative, backward-looking to lens towards Germany. As in for purchases of silver by the Thus the amount of silver that the Iwwere they did not descend as they competitive idea of maintaining 1914, however. Italy may not be United States Treasury in prac-Treasury is obligated to purchase required of him, for such was balance of power, as the final goal reckoned as a certain ally for either tically unlimited quantities, and for and hold is limited by the size of their goal, of the nation's foreign policy

the issuance against the metal thus its gold' holdings.

4. Many of the tribes, even the must be adjured once and for all.

acquired of silver certificates, The word "ultimate," used in again in

wholly unpredictable connection with the objective of elders, pit the skill of horses one against the other, and wagered. Coming down to realities, there

amounts. Three methods were the act, is of very great impert mightily on the result thereof, yen is a distinction drawn between

laid down for the acquisition of unce, particularly when taken in The tentacles of these embryonic silver. wurs of an aggressive character alliance, according to one source,

conjunction with the provision many shekels were gained and First, the Secretary of the that the time in which, and the and wars undertaken in defence extend far into the Orient and it Treasury and the recently created rate at which, that objective shall And they that oversaw these Japan are approaching a definite to the business of marketing tion of the Executive. The act for it was the custom that they re- is suggested that Germany and Export-Import Bank were to go in-be attained are left to the discre- ruces made profit from the wagers, understanding as to their cominon abroad American agricultural sur- also empowers the President to coived atitke; and the Elders

round about Government might have to use Tinion. Germany would doubtless bullion and coin, the metal to be stocks of silver held in the United gatherers.

action in case of war on the Soviet pluses in exchange for silver nationalize all privately owned moreover set its military and naval forces in need three or more years to build accepted at a premium of not less support of the League, in re- straining an aggressor nation which declined to submit to the League's authority, and which flagrantly used military mea- sures in defiance of its pledged word. But the ultimate objec- tive is the ridding of the world of all national armed forces, substituting therefor an interna. tional police force under the League's authority. The first step in this direction, the Labour Party suggests, should be the abolition of national Air Forces

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tion of war.

of the collective peace system.

It is recognised that the British

Without destroying this picture, it rewritten there into a formidable

side..

EMBRYONIC ALLIANCES

up her army, air force and navy to the point at which her worth is a The saving clause in these develop military ally acquires real value. ments is likely to be the conclusion of Pact of Mutual Assistance be tween kia and Germany (among others)

Russia, France, Czechoslova

if Germany decides to adhere. Here again, It would develop Into

defensive alliance against Ger many if Hitler declines to accept. The recent endorsement of the John Simon, does not remove the Eastern Locarno proposal by Slr necessity for keeping a close watch upon the situation.

and the establishment of an question of a general strike in against a peace-breaker. On the international force of interceptor the event of war occurring, the and scout planes under the Party has now somewhat modl League's orders, and the inter- fied its views, and is content to nationalisation of civil aviation, call a general Congress of the With regard to legislation, the when there is threat of hostili- various Inbour organisations Party has in mind a Peace Act ties, for the purpose of consider- which would place upon the ing the situation in all its rami- Statute Book Britain's nationalfications. In the main, the interpretation of her obligations Labour ideas will find fairly under the collective peace sys-general acceptance by reason of tem, and which would bind the the fact that they are based on Government to submit disputes but they would be of even a sound approach to the problem, with other States to some form greater merit were there some of pacific procedure. At the indication that other nations same time, emphasis is laid on would fall in line therewith. the duty of supporting the They will, at any rate, sorve ne Government unflinchingly in all worthy ideal, pointing to the the risks and consequences at day when the settlement of dia- putes by means of armed forces tendant upon its action in taking will have become a thing of the part in collective measures! past."

"I got wonderful memory

2

(Continued on Page 5),

Taden. It's him all right,

8. And another would attack. the castle, even the wicket-gate. and perchance strike him who de- fended it. And there was great tumult; and ill-fame covered the

CHAPTER 12.

craft.

Ioat.

5.

+

4

tax-

6. And the taxgatheron col- lected from all who wngered an-. other title for the Elders, so these had great possessions thereby.

7. And it came. to pass that there were seven lean years, evou- na bud been foretold, and the people east from them their evil habits and wagered not.

8. And the overseers of the raees bowalled and cried Behold, our revenue decrenseth; they cried. with a loud voice.

9. And the Elders hearkoned junto them and aald, We will remit our taxes even the half thereof, that ye be not oppressed. Go ye in peaco

10. And he who sits at the receipt of custom reported saying, Behold the money in your coffers diminisheth; and they ropiled, Care ya not. Cannot wo tax the rasiduo of the people for are they not as a flock of sheep?

LOCAL RHYMES. XVI

The weight of Empire oft he's

borno.

We hope he's with us at the dawn Of botter days. His kindly smiles. Help many Inmo dogs over stiles Here's to him-T***** g********

A house he keeps for many!

cranks.

Its hospitality claims no thanks: From those his guesta Who take long resta

An open handed host 1 F***

.

-- -- י יי- ו

TONEKTEKO kama at

checaj à ha land ATCAN

Н