1934-12-01 — Page 14

Hongkong Telegraph 港電新報 士蔑新聞 All

10

THE HONGKONG TELEGRAPH.

COLORUL SALE

clearance

ONLY 5 DAYS MORE

Everything Must Be Cleared

Printed Check Silk 30 Ct. Yd.. Heavy Quality

"Printed Georgotte

Printed Crepe

60

50

++

"

Printed Georgette

(double)

70

Cotton Forguson

Fabric, Striped, for

Men's Embd. .Kimonos

$3.00 Men's Dressing

Gowns. From $3.00 Men's Shirts, Socks, Tie and Hdkfs, to

match

$2,50

Shirting.

65

Cotton Ferguson

Pure Crepe de

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Printed

Fabric, Striped, for

Scarves

$1.50.

Men's Pyjamas ..

40

Plain Silk in all

Brocade Georgette

65

colours

$1.00 for 3 yds.

Crepe Elephant

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: From $2.50

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Shawls,

ROOM 307-ST. FRANCIS HOTEL

GRAND OPENING

TO-DAY

HAROLD LLOYD

as a mis ionary's sont

from China, who re

turna to America to find a wifel

QUEEN'S ROAD INEXT DAIRY FARMI

KING'S

AT

THE

BOOK NOW

aughter is ONLY THE HALF OF IT!

aughter

UNA MERKIL

200

an the political

chief who afecta

Hardki Miye

a fluke!

this sembled t

Butch

For

HAROLD LLOYD

Every thing

new

but these

Produced by the HAROLD LLOYD CORPORATION

.

A FOX RELEASE

THE CATS PAW

with

UNA MERKEL GEORGE BARBIER NAT PENDLETON ALAN DINEHART

GRACE BRADLEY GRANT MITCHELL

From the Saturday Evening Post Story

by CLARENCE BUDINGTON KELLAND

Duced by SAM TAYLOR

LONDON PRESS UNANIMOUS OVER "THE CAT'S PAW"

"I HAVE SEEN IT TWICE ALREADY AND I CAN TRUTHFULLY SAY I ENJOYED IT EVEN MORE-AT

THE SECOND TIME OF SEEING THAN AT THE FIRST." Daily Mail..

*"INCREDIBLY. FUNNY"

The Morning Post.

"HIS BEST FILM YET"

Sunday. Dispatch.

"ONE OF THE BEST COMEDIES OF THE YEAR" Sunday Chronicle,

"THE CAT'S PAW" IS THE CAT'S WHISKERS IN THE WAY OF ENTERTAINMENT," The Sunday Graphic, "FOR ME THE EVENT OF THE WEEK WAS HAROLD LLOYD IN "THE CAT'S PAW." Evening Standard "A CORKING PICTURE" Daily Herald.

"A THOROUGHLY COOD FILM" The Times.

SATURDAY, DECEMBER 1, 1934.

CENTRAL BANKS

SYSTEM

(Continued from Page 7.)

be called in "on the carpet" by the Intelligence Division of the Bank of England and told never to do It again. Those newspapers in closest touch with the Bank are Invariably careful to explain that ench of the six banks la completely independent of the Bank of Eng- land and free to co-operate only to such a point as seems to it right and proper. In other words, London is extremely aaxlous "not to handicap, the new system by appearing to dominate it, thus giving Dominion politicians stick with which to beat the locali central bank..

Nevertheless, London does ex- pect a good deal of co-operation; from this remarkable chain of six banks. There are now two schools of thought among "orthodox" bankers. One school aces Great Britain returning to. the Gold Standard and working it on the good old-fashioned lines. They: admit that the new pound sterling may be a devalued pound but they can see no reason why the Gold Standard should not be conscien- tiously maintained on the old Hines as soon as the country deter- mines the new level of the pound.

HERESY TAINT

The other "school" of thought is every bit as respectable and in- fluential as the first though dis-i tinctly tainted with heroiy.. This achool maintains that Britian; when she goes back on the Gold Standard, should "mannge" her currency more actively than in the past: Instead of regarding the Gold Standard as something which automatically functioned, the authorities should treat it with considerable reserve. If Britain, for example, having put the pound at a certain level, found during a subsequent period that she was] continuously losing gold, shu would immediately and quietly revalue instead of "going off gold" when she reached the end of herl gold supply. In this way, it is contended, she would avoid for herself and the rest of the world: the disturbance which followa when any of the important coun Tries, "abandons gold",

To this second school of though! this imperial bajking chain. is extremely interesting for they scel the "sterling blog" getting from 3 what it has always lacked, common consciousness and pur-

pose.

In fact, some of them say that the new chain of central banks will have a greater effect upon the Bank of England now issues a weekly report of its condition which is absolutely blind. The form dates from the Act of 1841) and is so obscure that even the, experta hesitate to deduce from it

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Just what the Bank of England is are models of clarity and candour model that trying to do. The reports of all compared with this weekly state-expects to carry the Dominioga other central banks in the worldment of the Bank of England,

Many say she will have to re- ment of sterling.-United Press.

FOR-

completely if she with her in the common manage-

Christmas

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GORDON'S, LIMITED

Hongkong's Ladies' Shoe Specialists.

}

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