DEWARS
WHITE LABEL"
THE SPIRIT OF INSPIRATION
SOLE AGENTS:
A. S. WATSON & CO., LTD.
ESTD. 1841.
DANCE RECORDS
WITH A KICK
(From the H.M. V. April Supplement)
BD-5023 The Darling of the Gods-Fox Trot
Jack Hylton's Orchestra,
Why did the fall for the Leader of the Band-F.T.
(Film "She shall have Music")
Sailing along on a carpet of clouds-F.T.
Jack Hylton's Orchestra.
BD-5024 Moanin' Minnie-Fox Trot
(Film "She shall have music")'
Jack Hylton's Orchestra.
Jack Hylton's Orchestra.
Jack Hylton's Orchestra.
.Hylton's Orch.
BD-5034 Hypnotized-Fox TrorJack Hylton's Orchestra.
Swing--Fox Trot (Film "Public Nuisance No. 1"),
BD-5035 Ecny Meany Minay Mo-Fox Trot
(Film "To boat the Band"') Solitude-Fox Trot... Jack Hylton's Orchestra.
BD-5025 Play, Orchestra, Play-Fox Trot ("To-night at 8.30")
If I should lose you Fox Trot
(Film "Rose of the Ranch"}
Both by Roy Fox & His Orchestra.
BD-5026 The star and the Rose-Fox Trot
Roy Fox & His Orchestra, Quicker than you can say Jack Robinson-Fox Trot
Roy Fox & His Orchestra. BD-5032 The Ballyhooligans make Whoopee-Medley Fox Trot The Ballyhooligans, BD-5033 Rumba Medley-Pts. 1 & 2 ..... The Continentals. 3D-5036 Looking forward to looking after you-Fox Trot
Joe Loss & His Orchestra. Log Cabin Lullaby-Fox Trot...Joe Loss & His Orch.
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+
COLLIN BROOKS
-IS
asks
EUROPE
Going BANKRUPT?-
DEMOCRACIES are hampered
by a single-track mind.
Feeling that life is just one damned thing after another. they fasten their gaze on the Open and Closed cars concerned about it, and forget last damned thing, grow vastly with liveried chauffeursdiate in its incidence on their any problem which. Is not imme-
always available. Prompt and reliable service.
The
Hongkong Telegraph.
TUESDAY, APR. 21, 1936...
THE EUROPEAN
SITUATION
The situation created by the German reoccupation of the Rhineland has receded somewhat from public attention, due to the
Ilves..
-Sanctions against Italy fill the firmament and split the nation for and. against, but once Ger- many marches into the Rhine- land Italy is dismissed from the public mind.
We forget that long before Italy waged war in Abyssinia, and before Germany pro sented Locarno Powers with one of the
most drama- tic faits accomplis in his- tory, the nations had been in a desperate conclave endeavour- ing to stave off the bankruptcy - of Europe and the collapse of the trading system of the world.
Who to-day, outside a small professional circle, gives even at passing thought to the abortive World Economic Conference?
more immediate crisis which has NOTES OF THE DAY
INDUTRY AND ARMS
Moorhan
ACT
arisen from the failure of the League of Nations conciliation effort in regard to the Italo- Ethiopian war. Both the Ger- The expansion of Great Britain's Problems Still
A Gulliver among the Lilliputians. man and French viewpoints have defensive forces which has now
France's plight means, loss of Czecho-Slovakia, regarded as been re-stated in memoranda been decided upon will make a con-
trade and employment for the most prosperous of the post- fasued by the Governments of the nation for the three Services,
To Be Solved Britain. siderable call on the man power of
Treaty States, has a crisis of her both countries, and these have but a still heavier demand will be
But that conference met four Goebbels and Dr. Schacht have her is the large sum of £25,000,- In Germany, as both Herr own, and is spending what for come under consideration of the made upon Industry. The actual years ago to deal with problems told the people, the need to re- 000 on public works. Locarno Powers. Nothing more increase in men and machines is of great urgency, of sinister im- arm has meant a dislocation of
not to be on a colossal scale, but port, and its failure to reach economic life. is likely to be heard on the posi-speed is one of the vital factors solutions to those problems was tion until these Powers again in the problem, and speed always regarded as tragic."
Germany is a great exporting meet during the next session of dustry must be organised on an means more intensive effort. In-
nation by sheer economic need. In the past four years the To-day she finds exportation the League Council, which com-effective basis to meet the nation's problems have not solved them- difficult. mences on May 11. Whatever needs. The Government's pro-selves. They have. intensified. may be said of the League's gramme deals fully with this aspect They press upon the spirit of Gorman Exports
of tho
Paradox-World
Trade is Better
In other countries the Budget totals are rising-Bulgaria will have a Budget this year 10 per handling of the Italo-Ethiopian naturally into two parts.
question, which falls Europe less hardly only because
cent. higher than last, Jugo- crisis and it is premature, even
other problems of a different
Are Down slavian expenditure will be up yet, to assume that nothing sent situation to be considered. We
In the first place there is the pre-nature have masked them.
57,000,000 dinars. Man does not live by political In 1935 German exports were further will be done-it can most are now at peace and there is great triumphs and feats of arms down to 375,000,000 marks 2-rising Budgets, persistent de
These things are symptomatic certainly be claimed that the re-In addition to the normal output,
commercial and industrial activity; alone." "He lives by trade.
month. In 1913 they stood at a ficits, falling exports, or increns- militarisation of the Rhineland Industry
If trade halts, we suffer. If monthly average of 80,000,000 ing import surpluses, uneconomic is to be asked to carry trade ceases, as a civilisation we marks, or might easily have plunged half through,
within 50,000,000 spending to meet artiâcial poli- in a limited period of die though as a community we marks of the 1918 figure.. time, of Europa into war but for the heavy extra demands upon certain may survive in circumstances of
measures which will make
tical needs.. Of her exports Germany existence of the League. That branches and upon certain classes hardship and deprivation.
upplies three-quarters or more to ish, or even appear to flourish, Europe cannot for long flour- is a point which many are apt to of skilled labour. The Government France's Trade
barter. From the remaining with barter agreements and overlook, but
officials concerned must therefore.
quarter she must deduct pay clearing systems taking the place a moment's ace that the careful organisation thought will
ments of various kinds. The of healthy trade, with currencies enable Us to lof industry and the willing co
Figures Falling surplus loft for the purchase of visualise the situation which operation both of the leaders of
bolstered up only by the un- might have arisen had the is secured. Profiteering will be since 1981 a gathering flood of
necessary imports on a true remitting efforts of Exchange Industry and of the Trade Unions
Great Britain nas enjoyed trading basis is small. League not been in being. The prevented
It may be argued that Gor-
Equalisation Funds, and with from the start-there returning prosperity, but that many has chosen her own fate, discussions which have taken will be no fortunes made out of flood was created by rushing up that, if she prefers arms to fats, sums to unfruitful expenditure. every nation devoting large place in recent weeks have help-sion-and everything will be done and a managed £. It should not
the-nation's strivings on this occa the artificial dykes of Protection the preference is a free one. ed to clarify and ease the situato encourage the training of craft blind us to what is happening ture is that Germany is no longer the foreign trade turnover of the The paradox is that world But the other side or the pic. trade as a whole is better. In tion, but there are still deep men in adequate numbers for the
the fourth quarter of last year differences to be reconciled and the question of readiness for war
work ahead. Secondly, there is outside our borders.
In France wholesale and retail people's goods.
buying her old share of other issues of great importance to be Itself. This involves the organisa- prices are rising.
62 leading nations was around. All suffer decided if the fear of possible tion of industry in such a way
diminution of trade. To take £2,066,000,000, as compared with aggression in Europe is to be the vital points from commercial currency retard exports and to 128,000 tons.
that it can rapidly change over at with the over-valuation of the wool last year fell by 21,000 tons quarter and £1,033,000,000 in the These rising prices combined but one example, her import of £1,791,000,000 in the previous removed and a greater sense of to war production should the neces increase Imports.
last quarter of 1934. peace security developed. Heresity arise, and steps have already it should be remembered that
been taken in this direction,
Last month France had an tion has been aggravated by the 15 per cent. is remarkable, for With Italy the economic posi- This improvement of about Germany's claim to equality and
import surplus of 807,000,000 futile and ineffective policy of before the crisis of 1981 the francs, against only 428,005,000 sanctions. France's claim to security were use of force, compel her to re francs a year ago.
seasonal improvement only formally recognised as just and trace them. It is sincerely to be For some years past the stop the Abyssinian War.
Sanctions were designed to averaged about 11 per cent. mutually reconcilable in the hoped that the pending discus-French Budget has been burden-
They have not stopped tho sions will lead to a satisfactory ed with a heavy deficit.
Economic Throat formula of December, 1932, settlement of the immediate
war, but they have stopped the which was to provide equality of issue. If the Peace of Europe is no less than 14 per cent. is laid aide Italy, not least in these Of French shipping tonnage prosperity of many a trader out-
Of Japanese rights within 避 regime of to be made secure, Germany up. The meaning of this figure islands. security. But unhappily little must frankly recognise that she is best seen against the total of Among the other trading clines Japan's economic com-
World trade improves has been attempted in the mean- has not only rights but obliga-world shipping laid up, which is nations, Holland is hampered by mand increases. For the first Europe's economic command de time to give practical effect to tions, and it will only be possible only 8 per cent. that formula. The result has to find effective solutions of
been that Germany, by a serica
of hammer blows, has taken equality, and whatever the ren sons advanced in justification or
Europe's problems if she enters How Britain negotiations in this spirit. The
supreme need is to make Europe secure against aggression. The
extenuation of the action taken, principal essentials to collective
currency troubles and is now to time in history Japan last year spend an extra £5,000,000,000 on exceeded a foreign trade figuro defence.
of 5,000,000,000 yen, led the Is Affected Money Crisis In
world in rayon production, and hit Britain hard in both toxtiles With elections pending and a the effect has been to aggravate security have long been recog-new trade-and-currency
Czecho-Slovakia and textile machinery, crisis the uneasiness of the rest of nised arbitration, disarmament, approaching, the financial post-
It is not a pretty picture for a Dutch private taxable incomes European nation which lives by Europe. Today Germany has non-aggression and mutual astion of France is unenviable. between 1980-81 stood at £624,- trade to contemplate, achieved equality, but Europesistance in the event of aggres- "What does it matter to us?" 000,000. (taken at current ex- has not found accurity. What- sion. This is the task that con- the sturdy Briton may ask. It change rates), but between 1984- discussions have need to remem-
Diplomats in their. London: ever may be said of the German fronts Europe to-day, and the matters much. Britain is a 35 that figure had fallen by ber that it is not only European methods, it is clear beyond all present potentially disastrous trading nation. Uncertainty in £190,000,000 £484,000,000, peace that is at stake, but argument that there can be no situation will only be retrieved France means uncertainty although during that time the Europe's economic survival, return to the status quo. Ger-by a system of collective security throughout the world. Foreign population had increased y 7 many will not willingly retrace for all the nations, large and exchange vagaries do not make per cent.
An uneasy peace that only her steps, nor can the rest of small, not only in the West of for easy trading.
plunges the Continent further Europe, without the threat or Europe but also in the East.
Such a fall in taxable income along the decline to bankruptcy indirectly is eloquent of economic difficulty, will be a sorry achievement,
Directly and
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