1935-10-25 — Page 18

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"STUDEBAKER"

FRIDAY, ・ OCTOBER

NOTES OF THE DAY

CHAOTIC MARKETS

What is to become of the Hongkong. dollar? A good many people were asking that question yesterday. They expect IOWA-

STUDEBAKER trucks cost very paper to know, for some reason,

little more than the lowest or at least to be able to venture a shrewd guess. We dare not, priced units on the market, but There is one thing certain, and is that the fluctuations in they give you far better perform that ance, for

more stamina, much Shanghat have been caused by wild speculationa and rumour-monger- lower operating.costs,

ing. and that the rapid And the handsome, distinctive depreciation of the Shanghai dollar has had its efect on the local streamlined appearance of the market. There Was A rumour now 1935 Studebaker truck yesterday that the Shanghal gold bar market might be closed. for it makes it stand out from the had panicked and the bar price had crowd. With its sleek, busi-rlsen by leaps and bounds, coming ness-like lines and powerful, close to $1,100 yesterday afternoon, Someone must have been badly dependable engine, it is a truck hurt in the clinches. Meanwhile, you will be proud to own, a truck we were told by those who know which inspires a feeling of pres- about these things, because we tige that suggests a price much were busily making enquiries to satisfy anxious questioners, that higher than its actual cost. the Hongkong Government was going to place an embargo on the export of Hongkong silver dollars. The Government replied that it was not, but that it apprecinted the danger of a severe drain upon. the resources of the Colony if the value of the dollar sunk below ex- port parity. An embargo, experts. state, would certainly have an un- fortunate effect upon the exchange but market. It is all very involved,

We will furnish particulars and terms on application.

·HONGKONG HOTEL GARAGE Stubbs Rd. Tel. 27778/9.

The

Hongkong Telegraph.

FRIDAY, OCT. 25, 1936.

THE COMING ELECTION

It is worth while studying, because the future of the dollar. will have a very vital effect upon the condition of affairs in this

Colony, if exchange wetkens ser

1935.

The Right of Search Position of Shipping in the At Sea

Event of a Naval Blockade

Scenes such as this, common during the Great War, may again prevail in the Mediterranean

and Red Seas If the League authorises, a naval blockade of Italy.,

HE

rights of neutrals and THE submission of neutral that the cargo is eventually des belligerents in the event of ships to visit and search tined for a belligerent. League sanctions against Italy upon the high scas must, of

ously, the Government will be em- barrassed, and will be faced with the necessity of finding new taxa taking the form of a naval block course, delay them upon their THIS doctrine was originate tion or cutting civil servants' pay.ade must be of great interest to voyages. While it is obviously by Great Britain and wa Those who heretofore

have British people, especially in in the interests of a belligerent upheld during the Great War 1 clamoured for a lower dollar, and Hongkong, because such a vast to reduce the inconvenience spite of the protests of neutrals moaned over the rising rate, had

that for which Proportion of our trade passes caused to neutral shipping to a Thua Britain would be entitled to best beware lest they wished so fervently should through what might be termed minimum, the delay may be con- detain Italian cargoes consigned actually come about, bringing with the "war area."

siderably increased by weather to Italian ports, the ports of it pay cuts.

conditions, for, where "The right of visiting and weather does not permit of visit of Libya pending a decision of the Italian Somaliland, and the ports searching merchant ships upon and search upon the high seas, the Prize Court-provided, of the high seas, whatever be the or when there is a reasonable course, ships, whatever be the cargoes, suspicion of illegal trading, neu- articles characterised as contra- that they contained. whatever be the destinations, is tral vessels may be diverted to band. distance from the centre of he be given a precise definition of lawfully commissioned cruisers to the limitations of the right of sanctions by the League of in office. It is not easy; at this ask! Someone now demands that the incontestable right of the a suitable port. Having regard political thought, to assess with the duration or extent of what is of a belligerent nation." Thus search to the high scas or belli- Nations as a measure designed.

In three weeks' time, the British electorate will be called upon to decide whether the pre- sent Administration shall remain

WHAT'S A WEEK-END?

The strange things that people

commonly called a week-end. Life

is another evidence that mat-

by

*

ment, however, has 'recom-

search.

The adoption of economic.

The Very Idea!

ON HOLIDAYS

any exactitude the prospects of

to him, apparently, will be no Lord Stowell in 1799, and

gerent territorial waters, this to prevent war does not, of the Baldwin Administration be- longer worth living if the present nothing has happened since to must obviously mean the diver- course, bring the rights of either ing given a fresh lease of life, uncertainty Un that point be alter these rights of a belligerent sion of the ship to a port for belligerents or neutrals into although there would appear to allowed to continue, вауд thenation.

operation, for the adoption of be little reason to think that it Edinburgh Evening Despatch. It

True, the United States took a This right to divert ships for sanctions does not in itself in- will suffer a defeat at the polls. It is somewhat unusual for a ter-of-fact materialism is laying its stand upon the "Freedom of the search was clearly maintained by volve any act of war. But the was France in 1916, when the Minis- rights of visit and search could Government to go to the countryley hand on everything nowadays. Seas," and this doctrine

We no longer breed inspired embodied in President Wilson's try of Marine made a declaration be exercised after a formal de in the midst of a big interna- geniuses; instead we have a multi-Fourteen Points. It has been to the effect that "The French claration of naval Mockade tional crisis, and actually there lade of potential or fully certific-defined by an American states- Admiralty consider that to-day against Italy. is no necessity for the appeal to ated accountants and auditors," be made at this moment, seeing aided

In this connection ifis in- man as, "The right of neutral a ship in order to be visited and powerful batteries that the Administration has an- of mechanical calculators. Now, nations to carry their commerce searched ought to be diverted to teresting to note that the inten other year to run before its surely, the

beauty as freely in time of war as in a port whenever the state of the tion of Italy to treat the Abys supreme

Or the nature, weight, sinian campaign as a punitive term of office automatically of the British week-end-a gift peace, except when they carry sen expires.But-its-leaders-cvid-that it is our proud privilege to actual munitions of war or when volume, or stowage of the sus- expedition only, and not involving mankind is they actually seek to break "a pected cargo, as well as the ob- any declaration of war has no ently believe that its chances of huve conferred on re-election would be greater now this very vagueness or elasticity blockade which is more than a scurity and lack of precision in foundation in fact. Abyssinia than if it waited until next year. ritating?. It

that meticulous minds find so Ir-paper blockade.".

the papers on board, makes visit is an accepted independent State may be anything In this connection, it must be

and search at sea impossible in and a member of the League of from a solitary Saturday after- kept in mind that the measures

practice or dangerous to the ship Nations. This, of Itself, makes noon to the period, which begins

the invasion of her territory an which have been found neces- on Thursday morning and ends on THE American State Depart visited." sary in the present crisis have | Wednesday night. Even the rail-

It is laid dow by Internation- act of war which can not be naturally involved the Govern-way companies have abetted the mended, and President Roosevelt al Law that, in the event of sub- characterised as a punitive ment in considerable cost, with | beautiful scheme by granting has concurred, that the United sequent examination proving measure, the prospect of still further week-end tickets of a duration that States should not insist upon the that suspicions were unfounded,, heavy expenditure in the imme- would have greatly shocked our "Freedom of the Seas" in future the neutral can obtain damages diate future. This fact, to- forbears, who, we are too often wars. In any event, the British against the belligerent Power. gether with the additional money told, were always much more de- Government has always been an But such damages are only for which will be needed to bring voted to their work than we are.upholder of the right of visit and losses arising from unreasonable

scarch of the defence forces of the nation

merchant vessels, diversion or from unreasonable up to an adequate strength, will

under whatever flag they may delay. sail; and an opponent of the be reflected in the next Budget. IT MAY COME

The fact that neutral warships and it is just possible that with No man has yet seriously argued doctrine of the "Freedom of the are not subject to visit and the prospect of additional taxa that the words week-end are Seas." It was this attitude search gives rise to the question Big Newspaper Faces A tion being necessary, the Gov-ynonyms for a fortnight, but, at which led to much controversy of whether neutral merchant Staff. Mutiny ernment feels that it would be the present rate of expansion, that between Great Britain and the ships, if escorted by a neutral safer to get the election over also may come.. Machinery can be United States during the Great man-of-war, are liable to stop By Empress Eddie Kelly, of Britain before the full extent of the bur-made to do so much of the world's War.

page. It has been argued that WHAT with all these Ameri- dons were disclosed. Be that serious work in these days that

can congressmen arriving as it may, there is nothing to there is no reason why the week- The right of visit and search a convoy, being under the directi

here next week, and being indicate that the electorate is in

pestered all day by the office ends of many of us should not be may be exercised in the terri- supervision of a man-of-war, is a mood to throw over the Gov-At the worst it is no more heinous

flappers and people who want as long as we choose to make them. torial waters of the belligerent exempt from visit and search.|· ernment at this juncture, In

to pay us the money they owe or his enemies or anywhere upon This exemption has been termed to prolong

-us for card debts, we have de-- the main, its foreign policy finds dentedly than it is out the clock the high seas, but not in the the "right of convoy."

cided that what we want is a widespread support, whilst in back or forwart is to put the clock territorial waters of neutral the "right of convoy detracts

nice, long holiday. the domestic sphere there is a year, the Government exhorta us States. Legally a vessel may be in any way from the right of general appreciation of the

to do. The day is far distant, it is stopped anywhere outside such visit and search has never been Maybe, by working day and measures which have placed the hoped, when the ery will be for waters in any part of the globe, admitted by Great Britain, and night, snatching a mouthful of nation once again on the up

shorter week-ends. Generally, the In case of actual sea hostilities, an American judge has asserted food when it can, remairting at grade. The only serious opposi- longer they are the bettor. True, however, it is unlikely that that "the law deems the sailing its post until it falls exhausted tion likely is that from Labour, international crises have a strange the League or Britain would under convoy as an act per se under its typewriter, and by sheer grit, perseverance and go. but it is clear that the Labour tendency to break out at the end wish to exercise this right inconsistent with neutrality."

of the week, as have the speeches outside the Mediterranean and

There is no doubt, therefore, ing without a shave, the staff of ites are not just now an alto- of Mr. Lloyd George; but these Red Seas, and possibly the north- that naval boycott of Italy the Telegraph will be able to gether happy family, besides evils, it will surely be admitted, which their criticism of the

are as nothing compared with the west portion of the Indian Ocean. would confer the right upon carry on during our absence. Government's handling of the

many benefits that flow from the Even should wish to do so, Britain of stopping, visiting, and present crisis is rather more of weekly cessation of mischievous insistence upon the right of visit searching Italian ships on the ing holidays, our acquaintances detail than of principle. At the activities by the bulk of British and search in other parts of the high seas passing through the enthusiastically remembered cer- Inst General Election,

the citizens. It seems tolerably cer- world would lead to dispersion Mediterranean or the Red Sea or tain places on the atlas. Some of National Government swept the tain that if Signor Mussolini, Herr of force which could hardly be approaching the Gulf of Aden, them thought that Ethiopia would

Hitler, country, being returned with no

and some other mortals

and, if considered necessary, of be a good place, while others point- contemplated. fewer than 554 scats, compared the persuaded to take a week. It may be assumed, therefore, amination in a friendly port.

diverting ships for detailed ex-jed out the possible benefit of n cast in a Napoleonic mould could

trip to Szechuan, where the Com- with the Opposition total of a

munists are chopping off people's There is another important heads, or Bins Bay, where there mere 61. Labour suffered the end off now and then, the world that shipping would, in the

would be heaviest reverse, its strength place to live in,

aleas nerve-racking event of naval hostilities, be point. That is that ships carry are other pirates.

and the inter-

This business of going for a being reduced from 287 at the national crises referred to above subjected to visit and search ing contraband-and it is for time it went into power to just would undergo the heaviest slump only in the Mediterranean and the League of Nations to declare holiday, however, requires careful over fifty, The Conservatives they have shown for years.

Red Seas and the vicinity of the what articles aro considered consideration. won no fewer than 208 souts

Gulf of Aden, and in these either absolute or conditional. There is, for instance, Juggage from opponents, losing none

localities only in those waters contraband to any port having to be packed, the flat to be sub- previously held, whilst Labour if the Government is not able to which lie outside the territorial any access to Italy or its colonies leased, and furniture to be stored.. Los totalled 213, with no gains muster a majority over all other limits. The Suez Canal and its in Africi can be detained, and One must also come to some And then, if we stay away 'too. Government has lost a few seats reputation abroad would suffer tected both by being in Egyptian Prize Court finding that the registered. Since then, the factions combited. Beltuin's immediate approaches are pro- confiscated, in the event of the arrangement with his creditors.

the ata. in by-elections, but its strength severely from a change of Go territorial waters and by Article cargo was war material. This long, there might be a mutiny of Is still unimpaired. It may be ernment at this Juncture. 4 of the Convention of Constan- is due to the doctrine of "con- axpected that Labour will win There is small reason to think tinople, which forbids any act of tinuous voyage," by which the And, finally, fares and expenses

are a big consideration. back quite a number of its lost that the elections will have any war in the canal or within three destination of the ship makes no Anyway, what would it cost to seats, but it will be surprising such result..

Bea iniles of its porta. V difference if it can be proved go to Macao for a day?

week-end

That

As soon as we started mention-