1935-10-11 — Page 18

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THE

HONGKONG TELEGRAPH." FRIDAY, OCTOBER

You'll save expense

with a-

“STUDEBAKER”

NOTES OF THE DAY

UNARMED GUARDS

We are told that the unfortun- ato guard whe was shot to death in the bandit raid upon the China Light and Power Company car op

STUDEBAKER trucks cost very Wednesday night, was unarmed.

little more than the lowest priced units on the market, but they give you far better perform ance, far more stamina, much lower operating costs.

now

And the handsome, distinctive streamlined. appearance of the 1935 Studebaker truck makes it stand out from the crowd, With its sleek, busi- ness-like lines and powerful, dependable engine, it is a truck you will be proud to own, a truck which inspires a feeling of pres- tige that suggests a price much higher than its actual cost.

We will furnish particulars and terme en application.

HONGKONG HOTEL GARAGE

Stubbs Rd.

The

Tel. 27778/9,

Hongkong Telegraph.

FRIDAY, OCT. 11, 1935.

AIR SERVICE

PROSPECTS ·

We do not wish to criticise. We only wonder what useful purpose an unarmed guard on a "coeli bag". serves. It would be cheaper, and as Benable, to adopt. the system used for centuries by those who grow valuable 'crops and iso n scarecrow.

ALBERTA'S MYSTICISM

In theory and In the steps, al least the preliminary ones; to put scheme af Alberta is one of per- it into practice, the social credit

plexing contrariety. It was em-! campaign that no aid was ex- phasised during the election pected from the banks to help out in the establishment of the new economic proposal, and yot it is to the banks that Premier Aber- hart is turning to give the first whi to the social credit wheel. For election purposes the banka

were wortrayed as of no help to industi and consumers. It was pointed out by Premier Aberhart and his followers that the banks

1985.

"The Very Idea

IT TAKES A BANK

WA

TO APPRECIATE A

EXPERT BANK

In the Old Days Ice House Street Merchants Traded Concubines For A Fistful of Rice

By Eddie Kelly, Loan Expert

ANDERING over the new Bank yesterday morning in between champagnes, Eddie Kelly stumbled over a parcel that looked as if it contained a large bundle of banknotes.

So many suspicious characters, disguised in top hats, were cluttering up the place that Kelly decided the safest thing to do would be to take the parcel away with him.

In revealing this act of altruism, Mr. Kelly has taken some pains to point out that he did it solely because he didn't want to see the bank start off by losing any of its property:

"profit by maintaining a scarcity value for their wares, that they carry at a restrictive policy and | that hey are opposed to the genera interests of the сот munte

Of course, the responsibe bility of office and the Irresponsibility of pre-clection

utterances are

Arriving at his office, Mr. Kelly decided that the next best thing to do would to open the parcel:

"I took an awful risk," he confessed. "Only the other day I was reading

two different that millions of germs lurk on a ten dollar note.

things. "Premier Aberhart is how Incing realities; before he was shooting at the moon," says Canadian contemporary. The Aberhart policy is, like the Douglas schenie, based on the

"I couldn't risk the lives of those husky co-workers in the Telegraph office and I intended, if the contents were banknotes, to burn them."

Fortunately, Mr. Kelly on, we decided to fill in the lot more potatoes on him. By de- Assumption that the consumers' found nothing, but some an- there and then.

grees he accumulated an enor

purchasing power is insufficient to

gap between incomes and prices.

individual in addition to any wage, HOT

with

dividend,

Another

the sellers .com-

new

We also

'

buy the goods produced and the eient, ledgers and financial Mr. Taggart was there, count- mous stock of bear skins, etce- goods that are capable of being reviews, from which, he al- ing the I.K. & S. Hotel cham. tera, as well as potatoes. produced. The goal is to the leges, he has derived the pane glasses to see how many Came an carthquake. The ....

had been souveniered by the bears died off in hundreds. For Although there has been no

One method to be adopted is a following history of bank crowd, we gave him a cheque want of a feed of potatoes the butward demonstration of the industrial productivity but dis-

national dividend calculated on ing.

for $250 in payment of last stone-club maker was too weak fact, Hongkong has followed tritated freely and equally to ench OT skyscrapers..

month's account of $180, pocket- to make stone clubs, and all the with the liveliest satisfaction |

ing the change, which he handed potatoes grow eyes to see. the arrival and departure of the remaly is to reduce

Since we drank all to us in nice, new banknotes. or salary

The depression was acute. Imperial Airways plane on the decree,

prices by that champagne yesterday

saw several other The bear grower could grow no first of the experimental flights, pensated by Government morning we have alternated taipans who readily accepted our bears, and the only bull grower credits free of interest charges. between being unconscious chèques in a similar manner. in the land who was making, any

profit was Eddie Kelly. Which just shows you what a ACT OF INFLATION

Then wonderful institution banking is.

we had some black Looking at all those massive

coffee, for which you can blame When this is pointed to as an net Chubb doors and grilles makes Hitherto our actual experien- that champagne. of inflation the answer is that in-us understand what they mean ce in the matter of banking is fation would be prevented by stop when they talk about sale de- such that if all the notes we without bulls and bears one of ping the issue of further credits As soon as the prices show a ten-posits. A crook would have had banked were placed end on the Peak pioneers conceived the

What's the lineal measure for merchant.

idea of approaching the rich

"Look here, Master Gray- We had our first experience burn," he said, "I want to go with banks in our callow youth into the woad industry. What

and bank-conscious.

dency to rise. What is aimed at as much chance of getting into end they would reach........ is a "just price" to be arrived at the vaults as Mr. Grayburn will ratio of the financial cost of total with which we opened our ac- by reducing present prices in the have of cashing the dud cheque atom? national production." How Alberta count with his institution. will do this as a province of the

that

MUST HAVE FUNDS

After a few months of being.

"Okay," "said the rich johnny, "but I've got to have my cut. I'll give you the 500 stone axes, but you've got to give me 600 axes in return."

between Penang and this Colony, designed to pave the way for the inauguration of a mail and pas- | senger air service which will link us with the Motherland, Australia and other parts of the Empire. The exchange between Hongkong and the Colonial Office of official despatches on the subject serve to throw into relief the immense advantages which will accrue to this Colony when the service is in full opera-

Dominion of Canada, remains to We became so full of cham- when, spurred on by the fierce about lending me 500 stone axes be seen. A correspondent in The pagne and enthusiasm for bank- pangs of love, we banked five to get started?" tion. As to the date of its in- Manchester Guardian Commercialing, as a matter of fact, that we dollars. Two days later-we-re-- auguration, the Secretary of points out that the Alberta "just gave him all our savings to mind, luctantly, withdrew it, and our est man in Hongkong. "How "Well, I dunno," said the rich- prico" is not of the orthodox A five-dollar State expresses the hope that it Douglas variety. Moreover, the note, three dollar cartwheels Mr. Grayburn wheedled our back?"

Chartered. Bank account was closed forever until do I know that I'll get my 500 SSSSSSSSSSSSSSSSES will be in the near future. Some source of the "social dividend" re-

idea of the tinte which will be

mains under a cloud. "If," says and eight ten-cent pieces.

$8.80 out of us. As a matter of the correspondent, "it is to be

fact if Sunday hadn't intervened "You know me," replied the gained may be gathered from the found by the unearned increment)

Upon such faith are mighty we might have had it out earlier, wonder. "Tell you what. I've fact, mentioned in the despatch levy on all transactions, then the institutions founded. We paid

got twenty sacks of rice, a nice, The history of banking in comfortable cave on the Peak, by the Officer Administering the "cheme would merely reduce pur-in our $8.80 without a tremor.

chasing power, and Mr. Aberhart

Hongkong is an interesting one, all lined with bear skins, and Government, that he received has failed to grasp certain im-that we would want something rich accumulated his hourd very Three of the concubines are well Later, however, we realised The first local talpan to become I've also gut six concubines. Mr. Malcolm MacDonald's letterportant points in the Douglas eleven days after it was signed them. He has failed to grasp to tide us over the rest of the slowly. Finding himself with domesticated and the other three, in London, in spite of the fact creation of additional purchasing book for the first time, we got ped a few of them with neigh- grovel on the ground every time Social Credit Involves the month, so using our new cheque, a surplus of potatoes, he swop- are so well trained that they that the latter stages of the ex-power to epable consumers to ob-him to personally cash a cheque houring taipans in adjoining I wave my club. I'll let you perimental flight to Hongkong amount of money."

tnin more goods for a given for $50.

caves on the Peak for stone have them if I don't return your were purposely slowed down.

clubs, bear-skins and whatnot. 500 stone That left us with 59 blank

clubs within six The present series of lights

cheques in our new cheque book Nature pursued its relentless months. allow three days for the trip

30, in order to save time later course, however, and foisted between, Penang and Hongkong, The ability to obtain more goods but subsequent flights will cut

for a given amount of

involves that time in half. Eventually, of

money

the creation funds which can only the service between London and be secured by taxation, inflation Hongkong will be undertaken on

or by loans, Mr.. Aberhart has a nine and half days' schedule, raising loans which are repayable commenced his political carcer by: and the time will doubtless come, out of the future development of with certain parts of the route Alberta's natural resources. This covered by night flying, when The correspondent quoted

is contrary to the Douglas plan. even that time will be eclipsed. that, "at the same time, the more A point which is worth stressing, thoughtful citizens are already as indicative of the reliability of existing

worried sufliciently about their debts. However, the the Imperial Airways services, amount which could be raised for is that the first flight between such consumers' credits wohl test Penang and Hongkong was made the credit-worthiness of such pro- posals. On the other hand, strictly to schedule. It is also Alberta has not the power to in- worth remembering that Imper-late Its own currency. The world ial Airways has just duplicated for this already harassed

must feel a good deal of sympathy its London-Singapore service, (Alberta) attempting

state Buch providing bi-weekly flights. funtustle panacea, full of popular Thus do we see further evidence #ppeal, but choked with obscurity

and mysticism." of the speeding up of the means of communication between dis- tant parts of the world. Timea fortnight. All that has been way, not so many years

lucking has been a direct link ago, when five weeks was the mini- by air with the Straits Settle- mum for postal contact between ments. It is this link which will London and Hongkong. Since soon be forged, and inasmuch as then, the Siberian mail has been the experimental Nights now be- introduced and fast shipping sering undertaken are a prelimiin- vices have been established,ary to complete aerial contact whilst Intterly we have had the with the Imperial Airways ser- joint steamer and air mail facili- vices, Hongkong is more than ties enabling postal matter to be gratified that they have been sent to and from London inside undertaken.

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Haya

&

"Now, when we get home we can say that we saw nearly every roof garden in New-York.”

So the woad merchant agreed. After a time, when another atone-age merchant wanted some axes, the richest man in the world discovered that he had run out of them. But he knew that he had some considerable reputation by this time

so he picked up a stone from the bed of a nearby creek and made his. private chop upon it.

"You take this stone along to Master Dave Biggar at the Chaste Cave, and tell him that I will pay him '50 stone axes when he brings it back to me. When he knows that this' stone is worth 50 axes he will let you have them."

- (How do we go on now, said he, pausing to wipe the swent off his brow).

After # while Master Gray- burn found out that so many cave dwellers wanted stone axes, and bearskine and concubines and things that he did not have enough space in his old cave on the Peak to nccommodate them. So he decided to build himself a bigger cave.

And that is how we had so much-champagno yesterday