1947-10-11 — Page 7

כיוון

THE HONGKONG TELEGRAPH, SATURDAY, OCTOBER 11, 1947.

MESSENGER: "MR. SNYDER TO SEE YOU, SIR."

ATTLEE: "SHOW HIM IN!"

THE ROOT OF ALL OUR EVIL

N whom must we lay the

chief blame for the fluan-

cial disasters that have be

fallen us?

Cortainly not wholly on the Socialist Government.

That

Mandati.

by JOHN

No. 10

ORDON

14 14:4

we serepted

from the Tem t WO nghi

In 1943 Our soudard of life won depres- would be unfa'r and unjust, rd to the lowest level in Hving his Americans True they gave us the catastro-y. Tride and industry crawled to y ver to have permitted to be the phie American Loan, but they had a reasonable excuse. They did what the Doctor ordere 1.

They swallowed the p re- commended to them without

The

Labour Ex: que at the benges were surb as we had never con le form and, we hope, with the merey of God, will never see again,

Bustling towns became dis'ressed in every street

knowing what was wrap,ed up one, with misery in the sugar coating, just as and something very near to starva-

and I take whia.ever on in every home, you medicine the doctor prescrilus when

ins we are

a spot of trouble.

But if our doctor's making

You might think that one such lesson in a feline would be enough both for the bankers and the nation. Thut not so.

This time Dalton, as much a child. 11 #nance os Baldwin, sutside the university ehrsrooms, took the ad- vise of Lord Catto."

THIS 'WISDOM' Baldwin pleaded in 1933 that the bankers all gave him the same ad- vice, all suve M«Roomy thra chur man of the Midland Bank.

Dalton may plead the same in 1947. For when the agreement that sent us Montage Norman, Governor of the reeling, becluse it gave our sterling Laid us still and stark, six feet pank of England 'hrough the drext editor the power to convert our beneath daisies we could not fal years, upon whom prime repon- smell, you may be sure our illty for the between-war das would be ters lles, has passed from power un- after him with a legal tommyrmented, if not unremembered.

In his place sits Lord Catto. A gun in their handa.

new head, but clearly the same old policy.

infuriated relatives

BAD COUNSEL

Let us do the same, there-

1941 MOTOR

CAR OWNERS

HAVE A CASE

By

66

Candidus”

PHRASE in Francis William's book, "Press,

A in well me to my mind the other evenlig when listening to a bitter com- plaint against the Hongkong Government in the matter of the requisitioning of motor vehicles in 1941. Says Williams: "Governments cannbt, by their nature, follow perfection'st policies. They have to do what seems best to them at the time. They are opportunists and practical. They have to be concerned not only with the long-term but also the short-term consequences of what they do."

To a limited extent, one can accept that ronsoning. (especially the final sentence); there are occasions, however, when an adopted policy savouring of force majeure may be practical, but at the same time only justified if the finalization if practical and satisfactory.

Government's repudiation of its liabilities. and responsibilities in the matter of requisitioned motor vehicles is astonishing.

Wars create the demand for supplies and equipment, and that demand must be satisfied. The cost is a charge agahist the State as repre- sented by the taxpayer, who naturally foots the bill. Such a demand cannot be levied against

But, as Pope follows Pope with out Vatican policy changing, Bank Governor follows Bank Gover nor without a qulver in the machine.

the individual as an individual, for such an unfair and invidious distinction would be vigorously opposed.

An Montagu Norman once said in TN Hongkong, we have the as- reply to criticism: "The dogs bark tounding fact to face that

but the curavan move on."

Government hus exacted from

or com-

This time we should make certain certain individuals

to panies a toll which should be that the power of the bankers spread mistry through the homes of evenly spread amongst tax- Britain utterly and completely payers generally. People (who destroyed.

THEY RULED

For far too long we have permitted the bankers to set the course for the nation in the interests of money. la Ume now that the nation set tho course for the banker in th: interesta of the nation.

The Bank of England once obiected breause the Financial vigorously Editor uf the Sunday Express

described it as the East End branch

of the Treantry,

The situation today

1: 11

There is a very close link.

still bear their cost of the way) are penalised financially be eause they happened to have nvested money in property which was of vital necessity to Goverument in the conduct of the war.

Government does not say "Be- cause we commandeered your vehicles (no matter whether a private car or a fleet of lorries) we propose to reimburse you by

war taxation until your loss 18 granting special exemption from covered" Oh dear, no! Those 140 concerned made a compulsory different. Under nationalisation the contribution because they hap

as ikapener! to possess something Bauk regards the Treasury West End branch.

Government needed. To Le! them when they preas. their claims that "the loss or damage requisitioned vehicles ia overned by the Compensation Defence) Regulations of 1940" Bannot only shows a complete lack

f gratitude on the part Government, but also a coldly leliberate evasion of liability.

Perhaps uvan more powerful in the Bank than the Governor himself is Sir Otto Niemeyer, a leading fure

when the at the Tray

led us to the cross of gold, an

Bank now a leading figure at the

on 3 when we are being crucised cross of dollars.

of

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Sole Distributors

Perhaps the gem of Govern- GILMAN & COMPANY, LTD.

4t

For years he has been recommen- ment's unconvincing altitude is Punds into dollars at will was ding the Montagu Norman medielne debated in the House of Lords, this to one money-troubled nation after the-gratuitous advice that the was the pearl of wisdom dropped by other. Australia, when it spurned proper course is to register

claim with the Reparations Lord Balfour of Burleigh, high in the, his advice, dubbed him "the high Clums Office that extremely hierarchy of bankers as chairman of priest of low wages.”

nebulous something which exists Lloyds Bank

mind of It is indeed true that throughout as a figment in the "The greatest strength of sterling the years in which either Montaguofficialdom. has always been its convertibility Norman or Sir Otto Nienayer and in fact one of the great benefits both have exercised the power, the

or

For what has Lord Catto in his fore. for this stricken nation turn added to the record? The cur- we get out of the dollar loan, and unlicy of the Bank of England has

reht U.S. debt agreement. The old Gold Standard in a new disguise..

of ours.

It is called the dollar simdari And it is another disaster of

Let us case to bother about the innocents who swallowed now. the Deadly Nightshade, but the Arst magnitude, instead seek out the Doctor In 1023 we settled the American debt en tems the Americans would who prescribed it."

Who was that Doctor? The Bank of England. The ad Arm that has been handling us out le hal doses for a quarter of a century:

The Bank of England in the adviser.

of the Brith Goverunent in mal-

ters of finance.

Its voice Is decisive in high finan cial polley. What it recommends is

acepted. What it says is done.

Now what has it recemmended? What has it donu in our Helime? Here is the binck record:-

1

never hava claimed had we not thrust these terms upon them.

Baldwin, a child in finance, took the advice of Monkuyu Norman,

one of the great objects we have in resulted in a lowering of the stand- the long run, is the restoration of ard of life in Britain. that convertibility."

has not taken long to demon- strate the value of Lord Balfour of Burleigh's advice.

MONEY WENT

These bankers prevented any ex pansion of trude by curtalling eredit at home to make the pound more In due time, with his mistaltes valuable in the eyes of foreigners, heavy upon him, Lord Catte will

By their manipulation of money pass from power as Montagu Norman

we rebuilt the shims of Vienna

We built I am told heal of our own slums. has done. Indeed, would gadly pass now.

Berlin's underground.

BY THE WAY

by Beachcomber

AS' an added attraction this sell the disgusting fee cream

bring to the barrows. A year at the 92nd Worpy.

in-

Other Dainliness J. So Important

Use Amolin

Amolin cream deodorant

stops perspiration

odors from forming.

Does not barn akin or fabrics.

Telephone 58800.

FROM 1939 onwards, Govern- ment found it necessary to procure many necessary items such as steel helmots, tools of various descriptions and gas masks. The Army too, re- quired equipment which could be produced locally iron pickets, timber, cement, road There and building materials.

dozens of items, and were doubtless payment has been, or will be, made as soon as the necessary proof is supplled- merely a matter of payment for work done or goods sup- Why in the name of alous to plied. We not only loaned

от common reasoning sole Agents-ED. A. KELLEN & 'Co. Ltd. German eltics, when we needed the justice money desperately ourselves, but we should motor vehicles be ex- to the Germas eluded from the list of war sup- gave millions more Government.

her modern We Have Dresden

waterworks." electricity plants and We gave a million pounds to Dan- burg so that she could provide het baths for her citizens.

I

plies used in the prosecution of they-

It was these money munoeuvres off the war? our bankers that enabled Germany).

to use her own resources to rebuilt her industry and, under the surface.

It gave us the American Debt weather. Agricultural Show, a Twinkletaes Setterment of 1923, which almost new class was introduced for plunged us over the precipice be the most, glamorous land-girl NE of the stoutest-hearted little her war potential.

columnists in the business, within a ten-mile radius of the obviously a girl with a faraway fere we defaulted.

put us back on the Gold Stan-Corn Exchange. dard in 1925, which proved to be

Led by the noses round the ring disaster of the first magnitude. by men in long white coats the 10t

display, It hoki us to gold ut an unfencarranis muue aansing s'e perity of exchange, unti in particularly Miss Gwenda Lusinoot.

burden.

It pours

our money by the

-on earth

4 hundred million into Germany,

Austria atul every land

C

1st prize

wanner. A

tricy

in her candid eyes, writes this Wick:

another · frequent query.

Occupation Jobs In Germany

tit by the loss of some top ad- American ministrators, the

Germany

pro-

It was because of financial support UPON liberation, the Miltary Administration took unto that foreign from British bunkers competitors were able to cut British itself the right to requisition "Why does jom, po mouldy?" is Arms out of contracts on such a scale any material or property re- Military Government in

that in 1928 the British Electrical quired for the rehabilitation of is speeding up its programme by They probably which it la training bright young Ah! The times we've been asked and Allied Manufacturers' Associa the Colony.

tion was driven to make a public doca Jum goprotest that the bankers were ruining found a few that "Why

motor vehicles men and women to take over, lead- inculdy!" people ask us on meeting the home, market for 1031 we nearly broke under the blonde built on old-fashioned lines, Sometimes we dream we are being forelguer.

the benefit of which had escaped the Japanese ng exceutlis positions in the occu- plundering. If they did, I feel pation administration." we trotted up and down in front of followed by dozens of minute sullors!

sure that the owners were com- e grandstand with what one judge's all nag nag nagging about mouldy

for trainces Fifty-six of these ALL GONE NOW wife described as "rather more vigour jam-We tell you it's driving us mad!

pensated and their vehicles

"principal Jobs-known' as on dignilly."

MADI

Now all that money has been lost finally returned to them. What career It later leaked out that she was not Next patient please

Mitary Government under a In due course Germany and most of would be, the reaction if the assistants"—are now working in the the other, beneficiaries detaulted on B.M.A. hnd refused to compen-gramme that steks to cnits! 100 n land-girl at all, but the new bar- maid at the Crooked Funnel, where, HAVING pored

into every

nook the loans.

sato, owners for property re-

annually at starting salaries which Johowing her success, they were and erahny of the subject, as well It gave to the Nazis the fun-obliged to hang out the "No More ab examining it from all angles (par we gave to the German and Austrian

What was built with the money yulsitioned?

awrage about US.$3,740 yearly. If There is only one answer. cial support Hitler needed to set | Brer" sign within half an hour of ticularly, freen one which necessitated

The latest to arrive in Germany into the Japanese had won the war, him firmly on this throne, and to spenlug. D

three aying visit to the Outer Hebrides town has since been blown

young when tho rearen.

wily Schacht

elyll and back) the committee, while dust by our own bombs.

compensation would have been frm America were

woman, one with a degree in mannged to get himself adopted asj

taking devious routes, has at last

as far as It is now time to wipe the, alate out of the question arrived unanimously at the onin'on clean. T is brought to our notice that the that this question of what we should

clalms for anything were con engineering. All eigned up being in- do with our crlckolers in winter is

placed in The bankers should be told bluntly cerned. As far as the owners year's instruction or trial period. be- AND THE PRICE concert platforms are

vaded by a new type of musical sply, more than puequately coneri cu us that Britain and the Empire are going of motor vehicles who banded manent jobs either at headquarters Phying pirated unes un planos What price did we pay for these made for export only, theso Bash by per contra problem at what to make a fresh start with new ideas over their property in the hectic of the Onice of Military

we should do with our footballers in and new ideas. ghostly follical Incalculable, money, gentlemen induce

Thus out of Black Disaster we may days of December 1941 are ment for Germany incredible pala, almost. Intolerable pranos to ship furtively down Into the That is the committee's story, and yet reap good that will outweigh all concerned, the Japanese might Berlin ce in one of its branches social grief.

stalls during the performance, and the committee is sticking to it.

that he cut its haude except our own, and our Empire.

5

thro Barst of Erigland's' pet,"

1

Warning

weak-minded 30- summer.

The evil.

as well have won the war!

fore they were

Associated PrONI,

for a

per

Gala Garden Party

in the Grounds of

Flagstaff House

by kind permission_of Major-General G.W.EJ. Erskine, C.D., D.5.0.)

In Aid Of

The Hongkong Society

for the Protection of Children

Organised by The Women's Auxiliary,

THURSDAY 23rd. OCTOBER from 6 to 8.30 p.m. SPECIAL ATTRACTIONS including

The Band of H.M. ROYAL MARINES

Dances By Pipers Of The lit Battn.

The Royal Inniskilling Fusillors

RAYMOND LIU,

and his HAWAIIAN

STRING ORCHESTRA

Songs by CELIA HODGMAN

etc.

etci

BAR AND REFRESHMENTS

Govern-

(OMGUS) In

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