1935-04-24 — Page 17

THE HONGKONG TELEGRAPH.

WEDNESDAY

APRIL

1935.

THE BOOKSHELF

Stabilised Money: A Historical Study

a

that the gains inhörent in the tochnique of constitutionalism are profounder, even though they Bro maro slow, than those which pro Impllelt in the revolutionary al- ternative, he appears to suggest that the differences between classes, at the present stage of economic development, can only be With currency problems more settled by force. In general, than.over to the fore, the ap-thin time for democracy is fore- posranco of "Stabilised Money," by cast, the view being held that wo Professor Irving Fisher (Goorgo 10s. 6d.) is most timely. One of Latio of Western civilisation in Allen and Unwin, Ltd., London; ut anticipate an epoch in which

the attitude to liberty character

the world's leading economists, the author, who inspired President general and in Great Britain in Roosevelt's currency policy, deals particular, during the nineteenth with the Jenue along historical THE ECONOMIC BASIS lines from the time, about 840 C.,

OF POLITICS when Ancient Greece attempted currency management, down to the Why do States have various present day. Ho traces the forms of government, and why do growth of the idea in Britain, the particular States have particular United States and elsewhere, pro-forms of government? What has ceeds to review all the recent boon the Influence of economita experiences of countries which the history of guvernment? With have left the Gold Standard, and what materini do statesmon work? adds an informative reference to What causes revolutiona? In an the famous Swedish experiment la attempt to find answers to these atabilisation, concluding with a problems, Charles A. Beard ex- alone analysis of President Roo-famines the work of great political sevelt's policies.

thinkers. In "The Economic Basis

century, will be at a

discount.

Professor Fisher does not argue of Polities" (George Allen and that unstable money in the solo Unwin, Ltd., London, 35, Gd.). economie determiner in history, This is a now edition of An but he does contend that its role earlier work, based on a series of is a big one, and that it has boen lectures given at Amherst Collage, generally overlooked, because of and the conclusion reached is that the

money illusion. In un #p. various interests grow up of nieces- pondix setting forth his personal sity in all great societies and views, Professor Fisher expressed divide them into different classes, the opinion that under present actunted by different sentiments circumstances the quickest way to and views,' The regulation of attain stable money throughout the these interests constitutes the world to for cach country to choose principal task of modern states- its own price level, Its own method men and involves the spirit of of measuring that price level, and party in the necessary and or- Its own method of attaining and dinary operation of government, controlling it.

In other words, there is no rest The book is lucidly written, for mankind, no final solution of boars the impress of a serious eternal contradictions. Such is student of one of the world's the design of the universe, and the major problems, and from the his-recognition of this fuct is the torle view is a most valuable con- beginning of wisdom-andi tribution to the subject.

THE STATE IN THEORY AND PRACTICE

cover the nature

statesmanship.

7

OPIUM CLIPPER'S CRUISE

"A Cruise in an Opium Clipper," Any book by Professor Harold | by Captain Lindsay Anderson J. Laski on political science te- (George Allen and Unwin, Ltd.. mands the attention of all serious London; 7. 6d.) is the story of an students of human affairs. I adventurous trip made fa 1859 to latest work. The State of discover and open a new opium- Theory and Practice". (George trading port on the uncharted Allen and Unwin, Ltd.. Lon-coast of Formosa. Shonghai was don; 10s. 6d.) ia of consuming

the point of departure, and Taku interest. Its purpose is to dis (now Takao) the secret destina- of the modern, tion. The vessel in which the trip State. It Hocks to explain that was made was the handsome 200- nature by an examination of its ton topsail schooner Eamont, bullt characteristles as these have been or mahogany by White's, of Cowes revealed by its history, and, in a craft that was half yacht and their light, to outline a theory of half fighting ship. The author of the State more in consonance with this book was one of the officers, that history than the classic out and he recounts in plain, un- look. An endeavour is made to varnished language the outstand explain why constitutional governing incidents of a memorable trip ment is breaking down, and the dash over the Taku Bar in the -the running into a typhoon, the possibilities involved in its col- japse are frankly discunaed. The middle of the south-west monsoon, author's vlewa, whilst they may trading of opium for silver dollars, tho surveying of the harbour, the not find general acceptanco, com- mand respect from the fact that stirring fights with hordes af they are stated with firmness and hostile natives, the capture of four lucidity and with a desire to give honvily armed war junks, and, in fair due to those who do not see Keneral, the exciting Ilfe aboard eye to eye with him in his con-such an old-time craft. coptions of what the State is aud It is a tale well-told, with the should be.

atmosphere virkity portrayed Professor Laski develops at throughout, and holds the reader's great length the view that in attention from start to Anish. A society whore the instrumente of really colourful book of other days, production are privately owned.

the main fact of significance in

EAST OF ALDGATE ›

"Millions of bayonets accompany our desire for European collaboration," Italy's Dictator Premier Benito Mussalini recently told a Fascist meeting. Now he has called to the coloura 250,000 of the 1911 class as a countermove to Germany's plans for a conscript army. Above the militant "boss" of italy is pictured in Rome at the head of his staff reviewing a few of the 8,000,000 bayonets which are avail. able for rvice in time of war.

The Ward liner Morro Castle; six months overdue from Havana, has finished the passage that was interrupted when flames swept her fram stem to atorn off Asbury Park, N. J. The charred bull, warp-

ed by fire that brought death to 134, is shown as it was towed into Gravesend Bay, N. Y., signalising the success of salvage engineers in freeing it from13 feet of sand. If the hull is sexworthy, it may be refitted an Daval supply ship,

the struggle for the possession of "East of Aldgate," by Horaci the state-power between a class Thorogood (George Allen and which owns those Instruments and Unwin, Ltd., London; 5.) is well that which is denied access to the described as An unusual book. bonefits or that ownership. The The author is a well-known Fleet tells his story in an admirably by its objective description. conclusion he reaches is that the Street journalist, and in this little lined series of sketches, and uses

inen and women proserves itself in State is always biased, in the in-volume he describes life as he saw his experiences to remind himself author states that he enjoyed his stances..

Summing up his experiences, the the midst of adverse circum- terest of the former, and that those it in Poplar when he went there of incidents in his own life and stay in Poplar, and when the effect in whose interests its authority is to live for a little while on the to touch upon literature and reli-of its depressing external features exercised will not surrender their riverside, in the streets and mar-gion. The book, therefore, roamshad worn off, the memory of it George

There is a brief epilogue by advantages unless compelled to do kets, in muale hall, hospital and over a wider field thun the East began to take on a mild beauty, leader, who pays a warm tribute Lansbury, the Labour so. Although he holds the view chapel, and, at the

"Doga."

He End, and interests as much by its derived from the new knowledge to the character and social service frank revelation of a personality, it had given him of how courageof the people of "dear old East very Loudon and very English, as ously the essential goodness of London."

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That old German fighting spirit'exhibited by Max Schmaling in. knockout victory of Steve Hamas,^bia American foo, won the Chancellor Adolf Hitler, who is shown with the victorious: Obersalzberg reading comments of sports' writers on the after that Hitler told the world Germany was going

to have a conscript arm yana ka

Following successful tests in which patrol and at have been derived from, the sand around Fort McMurray, In the province of Alberta, Canada may become one of the great oil-producing countries of the world, Resourches show, according to Canadian Government geographical exports, that the sands which cover an sves of approximately 6,000 square miles, contain sufficient ell to last the world: 500 years at the presant rate of consumption, An American firm will develop the 'fald. Photos show (left), oil sanda around Fort McMurray:after top layer of trees and kilohýbava been removed; by right-hituminous; "änd expoistres: lower{vjaht, supply, beats and an ollwall'of a previous kilempt to

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