1935-04-30 — Page 6

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DEATH

WAITE. On 29th April. Bu5, at the Cannes Hopital, Willin Gerice Waite, Inte of 13. Castuen Shanghai, dearly beloved husband of Isabel Faith Wolle and father of Winifred Evelyn Wabelstein. (Shanghai_papejs, please empy).

The

Hongkong Telegraph.

TUESDAY, APRIL 30, 1935.

WORLD CURRENCY

been

ISSUES

TUESDAY, APRIL 30, 1935.

NOTES OF THE DAY

CANADIAN VIEW

"One of the finest problems in legislation." said Edmund Burke, " what the State ought to take upon itself to difect by the public. wisdom, and what it ought to leave, with a little interferenca as pos- sible, to individual discretion." The Secialist, whose mentality is nol always that of Edmund Burks and whose political experience is very often nil, has no doubts on the subject. He belleves there is no wisdom except public wisdom and that public wisdom is Infallible, says the Victoria (B.C.) Colonist, The Socialistle polley has alwaya teen kaleidoscopie. It varies in different countries, Modern So- cialism, us it is known in British landa, saw its origin with the Fabian Society forty years ago, Since then it has assumed muny shapes and formulated many dực- trines-As-n-theory-it-la-chiame leon-like; as n workable thesis it Itan Rever been proved. Lis! October, however, a Socialist Con- ference in Great Britain laid down certain tenets which are briefly summarised ne follows:

▼

SCIENTIFIC PLAN

To Encompass the entire ecup- omic fe of the nation within a system of "scientific planning" from the centre.

To nationalise (with "fair" compensation for existing owners) all the key industries, including the banks, transport, water, coal, elec tricity, gas, agriculture, fron and steel. shipping, shipbuilding,-en- gineering, textiles, chemicals and insurance and to reorganise them with the objectives, among others, of securing “reasonable" wages for the producers and "reasonable" prices for the consumers,

To acquire. powers of public regulation over all industries left. in private hands.

To give the workers a statutory right to an "effective" share in the direction and control of nurkalized industries.

To raise "Industrial standards" A

Our King

año

Queen

on their Silver Jubilee

King George Hunts Tiger on His Vhit to Indin.

MID all the pomp and ceres with the cheers of all India ring-¦

mony attending his visit to ing in their ears.

by all manner of legislation, includ ing the establishment of a forty-India after the Coronation the There were many reverbera.

hour week.

To administer the national in-

more

The King and Queen had been able to undo much of this. It was their first major role

48

called

King found time to indulge in tions of the King's visit; he had monarchs of the Empire. To carry out a "hold and con-his favourite pastime shooting. proclaimed, several constitutional Though Europe was peaceful. The steady rise in the worldtinuous" programme of increasing

changes in the Indian govern-and quiet when the King and price of the white metal, which expenditure on the social services. King George has been many ment. just at a time when Queen returned in 1912, there is a direct outcome of the silver notably education, public health, times called the second best shot the home

was was an under-current of strife government policy of the United States, has housing. pensions and the delu.

England. He

than in

the approaching: statesmen were lengthy debate On To carry out an enormous pro-in given rise to various views

The

had worried; Germany was making King regarding the precise objective national development, for which while tiger hunting. He ac- committed

of public works Kramme

and proved his accuracy in Nepal subject.

the Government many suspicious moves. which the Roosevelt Administra- the resources of the country will counted for 24 of the 30 tigers and forced them to adjust: Again the King, was tion has in view. There has he "imply sufficient," thanks in that fell before the guns of the things. The changes were popu- upon to play a role which, al-

a considerable body of particular to the "social control",

Har In India; they tended to though it failed in its purpose, royal hunting party. opinion which has held that of finance.

strengthen the Government and it nevertheless showed his pas there must be something more

Our picture to-day shows the case the oppression of certain sionate desire to keep peace in behind the Roosevelt plan than come "wisely, by redistributing it King in the act of shooting.

influences on the masses.

his Europe--just ng

father, the mere placating of the United through taxation.

"adapt" the machinery of

For just a month celebrations

More than anything else, the Edward the Peacemaker, before who think thus, and who have regarded the most likely ex-

and the Emperor Socialism thus is a creed of pro-

Queen on the part of the Indian people to visit the Kaiser, planation to be an effort by the digal expenditure and lavish taxa- Empress.

To-morrow: King and Queon On January 19, 1912, who had previously shown some American Government to force tion. It is slavery under the guise they sailed home from Bombay resentment toward British rule.¦at Windsor, international currency stabilisa- of a dreamy Utopia. It would tion, are now able to quote Remake the members of agelety mere automata under an all-pervasivo presentative Dies, co-author of political and economic tyranny. the Silver Purchase Act, in sup- They would speedily become, as any port of their view. Mr. Dies practical exposition of its implico- even goes so far as to say that tions goes to show, the impoverish-

To

States silver interests. Those government to the task of Socialist were held in India for the King-visit resulted in a wave of loyalty him. The King was called upon

reconstruction.

18SEESSEUSESESSEU President Roosevelt is anxious ed victims of wild and impractic-

"DOVER" STOVE

SPARES

WE HAVE FOR DISPOSAL À COMPLETE RANGE OF "DOVER" STOVE PARTS AT CLEARANCE PRICES.

FOR SIZES:-

No. 6

No. 7

No. 8

No. 9

LANE, CRAWFORD, LTD.

GROUND FLOOR HARDWARE DEPT.

TOKYO "SINKING"

Mr.

U. S. GRADUATES-

PARTY OF TWENTY PASS THROUGH HONGKONG

AMERICA'S TRADE WITH CHINA

AMERICAN COMMERCIAL. ATTACHE'S VIEWS

"America is interested

the In-

to

Perhaps it was partly due to this party that those on board the Glove- land declared they had had a bright trip from America. "If on all the for a world monetary conference able theories.

trips we had a passenger list like with that end in view, and he

this one, puraering would be a plea-| suggests that the eventual out-

Bure," suld the purser. "It's the best A party of 20 graduates of the crowd I've ever been with." come may be a world bi-metallic

University of California. arrived on The trip was not without its ex- currency system throughout the A large area of the eity of the President Cleveland from eftement. for at Shanghai two people world. Whether that is likely Tokyo is sinking at the rate of America yesterday in the course of missed the boat, a male passenger

a round trip to Manila. The party is left his ticket behind, and two women ternal coonomic development of China or not, there can be no disputing eight inches to four feet per year,

that, I the fact that the gold standardmitted at a recent conference of

according to a monograph sub- under the directorship of Mr. B. passengers arrived at the wharf sand it is largely through

Thomas for the California Alumni late that they had to follow the liner think, that America's imports has operated in a very unsatis-Japanese seismologists by Association.

in launch and finally got on board China will tend to increase in tho

hours after the There are 18 women and four men, four

President factory manner since the Great Naomi Miyabe, of the Imperial and their average age is only 35. Cleveland had departed.

future," was the opinion expressed War, but, according to a British University's Seismological Research

by Mr. Julcan Arnold, Commercial |banking authority, world opinion Institute. The affected area, is a

Attache of the American Legation at seems to be gradually coming populous district of factories and

Shanghai, when ho arrived here yes- terday by the President Claveland round to the viewpoint that an poor quarters at the mouth of the international system based onions, Mr. Miyabe said the area Sumida River, In his observa-

from Shanghai. gold is really most suitable for sank at an average monthly rate modern conditions. Whether a of 4.109 inches during 1932, and gold or a bi-metallic standard be 708 inch during 1933. He sug- ultimately decided on, it will be gested that the sinking may be due agreed that amongst the really to settling of the soil, which is big factors tending to prevent a loosely packed in the area. At the general trade revival has been time of the 1923 earthquake the the failure to secure

area, known as the Fukagawa Ward, the re-and the adjoining Honjo Ward, establishment of an international were reported to have gunk a foot, monetary system. Exchange in- It ma as though Japan must etability is without question a look about for some other means formidable obstacle to the move-to assure her people of security ment of goods between countries, besides naval equality. While the It is true that during the past danger is not immediate the people three or four years much of the of the Houjo and Fukagawa Wards damage to international trading in the suspicion that they may cannot be excessively comfortable relationships, which might have wake up and find themselves under arisen as a result of the break-ground. down of the gold standard in 1981, has been prevented by the

virtual elimination of instability considered action might result between the countries of the in further difficulties, leading to sterling group, but the fact re- another breakdown even more mains that between the sterling serious than the last. It is, for aren and the gold standard coun- this reason, eminently desirable trics, marked fluctuations still that there should be interna- occur, which are detrimental to tional consultation before any trade over a wide area. As a decision is reached, and the call- leading British banker has pointing of a world conference would Jed out, in some instances the be the best method of tackling juncertainty arising from these the whole subject. At such ü movements is hindering the re-conference, it may be taken as moval of exchange restrictions, certain that silver interests quotas and other obstacles to would press strongly for the world trade, but the question of adoption of a bi-metallic stand- oliminating this uncertainty by ard, but it appears questionable roviving an international mone-whether there would be any wide tary standard raises many pro-measure of support for such s blems. Therefore, hasty or ill- solution of the problem.

ey just

another got a gwell idea for

all-alone song.”

'you've-left-mo-

"The American Government and business enterprises are encouraging the economic development of China, and bavo ao far been very helpful. Already considerable internal devolop. ment has taken place, particularly in the sphere of transport; and tho Hankow-Canton Railway and other lines which have been built or will be built are a great impetus to in- ternal development and a benefit to the internal economic Bituation, America's trade to China will largely be in capital goods in the future. I think, for that is what China will need with Increased development.”

A Silver Paradox

Mr. Arnold stated that he could not commant од the present silver position, but that the surprising thing about the rise in the price of aliver was that it had resulted, so far, in also in the amount of goods im- ported from China to America, 'and a decrease in the amount exported to China from that country, The ap. parent anomaly was perhaps largely duo to the decided increase in the amount of vegetable off imported by America, said Mr. Arnold.

What the future prion of silver would be could not be foretold, said the Attacky, and just what the ra sults of a riso Its price would be was also difficult to foretoll, -ko added. America's trade with Chinn was at present in a healthy state, however, and an increase anticipated, especially with the in- ternal economic development of the country.

WAR

Mr. Arnold is on a periodio visit. to Boath China, ond will proceed to Canton within the next few days.