1934-08-17 — Page 18

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FRIDAY, AUGUST 17, 1934.

NOTES OF THE DAY VICTIMS OF

SILVER DISPARITY

ABUNDANCE

By IAN MACKAY

A vory plain sano emerges from the puzzling failure of the Hongkong dollar to rise to its silvor parity value. Is the Colony's currency based upon silver or is it not? The Ogures published yesterday comparing the situation to-day with that of 1920 silver bear repetition. In fall at one stage to London, but the Hongkong dollar

loaded with calamities great and burgh could join Babylon in the was never quoted below 18. d. email that men have become necus-gloom of forgotten things and wò. Yesterday, with the London price at 21 d. spot, the local demand tomed to donth and disastor. should lose a little culture and rate was la. 6.

1/8th.

Surfeited with the daily dose of romance. Now It is

In

URING the last two decades should miss would be a few home DURING the last ten de over comfort, London, Parts and Pain

easy to understand and appreciate mass murders, riot, revolution, But so long as the cornfields and

the probability that the bank in torture and terrorism, we are los the cows go on, the herring fleets 1029. Was preventing undue fluctua-

ing the aptitude for sorrow and come in on the floodtide and the control over the surprise and are rapidly develop colller goes down in the dark, life tion and exrvice is nian

will go on too. For these are the basic things.

fall. Public

done

in preventing too rapid a rise ting into a race of hard-boiled

likely

ely to set cynick.

a decided reaction is

The Incredible cavalcade of

in. Where the difference shows is In the trifling margin above bullion point of the 1929 quotation and the tyranny and tears is passing daily

less than a full penny. An ex- planation would be very interest ing.

MATTER OF POLICY

Such an

*

present margin below, which is not | before our eyes, but we are bared) Yet the collier, the faberman with the brutalism of Berlin and and the farmworker are the worst the agony of Austria and turn with paid of all the servants of society. relief to the latest "monster" or The miner and the fisherman have another century by Hammond. also the most perllous part to play.

All this is very natural and in a issue as this sends thoughts racing back to the Cur-way wise, but it does dull the edge rency Commission's Report, a of feeling and tends to make us document containing the following condone the things we should paragraph: "We understand that

condemn, the present Chief of the as policyTM of the bank that it will in

future always apply an exchange correc

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Hongkong Telegraph.

FRIDAY, AUG. 17, 1934.

The Very Idea!

STATIC & SHIVERS

By Eddie Kelly, Ice Man

Perhaps you've been wonder- ing where we've got to since Insti Friday. Our name wasn't men floned, but, actually, we've been snowed up with Commander Byrd somewhere near the South Polc.

This radio is a wonderful, thing, otherwise how would we tell you our story today? Womander Byrd is snowed in here.. beginning to feel the cold. We are beginning to get a bit fed up with his grum- bling,

We told him when we first started on the expedition. that the going would be tough, and that he'd need to take all his red flannel under- wear, but no,. he must turn up in pink milanese singlets. and silic socks. If he must wear silk, why didn't he wear that antareticlficial slik.

Their position would be propos terous in a sanely ordered society, There they are, the chief supporters of us all, tolling away--when they fare lucky enough to toll-for a fow

The dog teams are causing a shillings a week, and their em- lot of trouble. We have been ployera'are little better off. They feeding them on dried Eskimos, I was set thinking on these lines are all the victims of abundance; and the diet seems to give them tive with the object of proventing by a passage in an address de- the sacrifice to the surplus. They a tendency to blubber. You the dollar from rising substantially livered in Edinburgh by Mr. Peter have performed their task so soll can't imagine how nerve-wracking nhove the theoretic buillon point. Lec, the President of the Miners' that they have produced overflow it is to be confined in a ardall It is however fundamentally wrong Federation. that the exchange value of a

Ing plenty and stupid, senseless snow hut, through the long polar night, with a lot of blubbering Colony's currency should depend on one person and no less wrong miners were killed at the coal face,

Last year, he said, over 800 poverty side by side.

dogs, not counting Commander Byrd. that that person should be put into and he noted that when such a position where he may constantly disasters occur "for a few days the

·

have to decide between the con; } generai publle are led to see and point years ago when the late Mr. 1 outside the hut. It was in a sense

The Socialists got on to this ficting interests of the Colony and think of the dangers of mining."

Wheatley cleared the Tories out of the bank." Further stress does

Glasgow with the cry. "Starving not need to be laid on the question Yes, but I wonder how much in the midst of plenty," but there' of responsibility, but the implien- they do see and how much thought is no assurance that the evil will tion does suggest itself immediato- they devote to it afterwards? For be removed by the establishment ly that where it is a matter of over 60 years all the forces of of a communal system. It certain- rising substantially policy to prevent a currency from civilisation, science and organisa-ly goes on in Russia.

above Rs tion, have been concentrating on

The disease lies deeper than theoretic bullion point, measures this vital problem of safety in the to prevent it from remaining sub-mines, but so far no appreciable politics can reach, but it should

below stantially natural concomitant.

should be a progress has been made. Equipped not be incurable.

with the most elaborate devices

The current dovico for dealing and disciplined in his own defence with the surplus in some kind of the miner still takes his life in his financial wangle. But however hands every time he descends the elastic er telescopic the currency shaft.

may be made. It seems to me that

scheme is

PIGEON-HOLED?

heart of the problem. Can it be Here we are right at the very

done by private enterprise? If the object is to ensure that the He never complains about the fish proceeds rapidly from the fleet hazard of his work, but he is en-to the frying-pan, who is to see titled, as his leaders are doing that it is done? to demand in return for his risk a real reward.

Byrd's cat is howling pitifully our fault, but there is no need for Byrd to be going on the way he is. According to our usual custom with the animals, we put the ent out for the night last Sunday. How were we to know that the nights were six months long?

Apart from these, minor dis- tractions, our work here goes on fairly evenly. The temperature is now 2,400 degrees below zero. The mercury is down so low that we have to keep the thermometer on the floor,

We had a blizzard yester. day. We can't say that we liked it very much, especially as we had to pluck and clean the thing and do the cooking. Byrd won't do a thing. Ho just ails around moping and chewing candles, a vile and Incendiary habit he picked up from the Eskimos.

We, have been thinking lately- that we were rather husty In coming on this expedition. Seated

EASTERN LOCARNO IN THE BALANCE The proposed Seven-Power Eastern European Pact of Mutual Assistance, which, when first mooted, was described us likely to eliminate the poison of Three years have elapsed since suspicion and remove the fear the Clogg Commission submitted of explosion on the Continent, its Report, containing several His job is still the most danger-the surplus might easily escape

impartant recommendations. Ag ous, dull and dirty in the land. control unless the may be relegated to the sphere for as can be observed, everything and in the nature of things it rigidly controlled by some super-; of still-born projects if Germany connected and Poland persist in their die the Colony proceeds as before, the Inevitably he must toll a mile or

with the currency of seems there is no hope for him. authority." inclination to join in the plan. Commission's

more beneath the meadows and recommendations Britain and Italy have long since having been pigeon-holed. It was the bees, voluntary and on the indicated that they are benevol-urged, it may be recalled, that the

whole cheerful prisoner of the ently disposed to the scheme, Government should take charge of dark.......... and whilst Germany's attitude all silver coin and bullion, that a at first was not too favourable, Currency Board should be appoint there was a widespread hoped, ontrusted with the important that she would realise the function of accumulating a ster advantages of a plan which stabilisation on a gold basis.

ling fund to provide for ultimate would preserve the territorial token dollar was suggested, to do status quo and at the same time away with

In actual fact the miner is one recognise the principle of equal wheels and enabling the site of the poorest paid workers in the ity of rights. Poland has had recovered to be available for some her doubts 03 to whether future expansion of the note lsque. security of her own frontiers The Commission went so far as to necessitates the undertaking of suggest that if the note-issuing new responsibilities for those of banks were not prepared to fall in her neighbours. For the East- with the scheme they proposed, the Currency Board should be ern Locarno plan to be effective, empowered to laguo Currency

If one were asked to name the guarantee that he will dispose of things, round and round the Pole, Germany's adherence would be Notes, thus investing control of life-and-death-industries every-lucky indeed if he covers his costs. Nothing. Not even a medal. Not three most essential that is the it and even when he does he is and what do we get for it? as much a necessity as Russia's the Colony's currency supplies in body would reply agriculture, coal Last year many men went all the that we want any medals. It's tions. Indeed, Sir John Simon,

mining and fishing. On the pro-way from the Shetlands to Yar- the principle of the thing that ducts of these industries the race mouth and after ten weeks' in explaining the suggested pact

we're talking about. could carry on even if all else arduous labour they went home disappeared.

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*

Without entering into an analyels of economic organisation there is one startling anomaly, which I do not think any of the critica of capitalism have pointed out.

EXIFT

At present capitalisni performs the task moderately well, but the most ardent defender of private enterprise would not claim that the thing-could-not be done better For more economically.

one day at the organ, wo were

madi.

weary and ill at ease, and we asked ourself, "What good are we doing Who, we said to in this hut?" ourself, cares what blasted tem perature it is at the Pole?

That's what makes us The real charge against the Here we are, sacrificing ourself. to the cause of selence, fighting existing system is that the fisher- our way through wairases, scrap Into the North Sea and brings man is forgotten. He goes outing polar bears off us at every step, humping. thermometers, back his catch, but he has no barometere, gasometers, and

in the House of Commons when The correspondence between the it was first mooted, stated that KRA and Police Department Shefeld and Birmingham could since the plan would operate for in the little matter of the removal the security of Germany as well of the C.B.S. bus-stop tells the vanish into the void and all wo it? as that of her neighbours, it was same old story, throws up tho to be made the starting-place same accusation, that the police for the resumption of negotia- will never admit a mistake. There tions for a convention providing was no real reason for depriving for the reasonable application of distances of the facility of a re school children coming from long Germany's demand for equality quest stop near the school. The of rights in a regime of security tree obstruction argument for all nations. Accordingly, become almost a mania since the France indicated her willingness protests against felling, and in to make conccasions to Ger- any event does not apply at the from concerned. Apart many in the matter of re-point

that, it should, normally, gesture

be Armament. This

principle in establishing bus couraged the belief that Ger-

stops that they enter to conveni- many would be disposed to come into the scheme, but, strangely futile offer made would merely ence as far as possible. The enough, the project was from inconvenience Granville Road re the very first, received, with aidonts without relloving the suspicion in Berlin, where the C.B.S. altuation in the slightest. suggestion was put forward that As Mr. Burlingham himself points its real object was to erect a out they have only 178" yards to "ring" around the Reich. Since travel from the other and obvious all the parties to the suggested alighting place in the absence of more sensible provision. Should pact, including Germany, were

we despair? Perhaps a high police Lo enter into a mutual assistance official or two will be caught once undertaking, it is difficult to

or twice in a heavy thunderstorm appreciate the suggestion of the without raincoat or umbrella and scheme having been devised for with shelter only 178 yards away. the express purpose of keeping Germany under subjection, the more so when the endorsement far more likely to be served by of her demand for equality is a widely diffused system of borne in mind. It would, in mutual guarantees than by the fact, be nearer the truth to say conclusion of separate, military that nothing is more likely to alliances. It is to be hoped that emphasise Germany's isolation this fact will so impress itself than the throwing over of the on Germany that oven at this Eastern Locarno plan. In this hour she will hesitate to wreck a connection, the report of the plan which gave so much. possibility of a Franco-Soviet promise of stabilising the Euro military alliance being concluded pean situation along lines likely is not without its significance. to banish the prospect of an- Peace and security in Europe are other devastating war.

If we

We're cut off from our base (and Heaven knows, It's a pretty pain What are we going to do about ful experience), far from. civilian- tion, and we haven't even got n clean collar to our name. make a cut of tea, it freezes im- mediately, and we have to peel the cup of it and just gnaw around. thô edges.

"Well, you tell 'em it ain't so much the principle of

"the thing I'm worried about, it's the money.

We sald te Byrd, "What made you come on this damfool expedi- ilon?" "Well," he said, "between you and me and that walrus over there, things weren't too good at. home. You know how it is. ·A· man comes home bit late from one of these Polar expeditions, and people start nagging at you, one thing leads on to another.......

and

11

"Stop, old man," we said, grasp- ing his hand warmly, we know all."

"So I just though that I'd better get out for a while till things blew over," he concluded.

Some hours later, when we wore in bed, Byrd came over to us and. said, "Admiral, are you awake?" We said, "Yes, what time is it?" rité, still quite carly," ho replied: "It's only August. What I wanted to eny to you was about our conversation a while ago. Don't breathe a word about it to a soul. Why I started this expédi tion, I mean."ART

"You can rely on ine, Byrd, wo replied.

The two of us are comfort- able here now. We don' want a stampede, and have n mob of husbands barging in on us

Wa spat our death, he kissed us, turned out the aurora borealis, and;. go to bed for another faw months.as