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No. 17,860,
The China Mail.
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January 25, 191, Temperature 65.
£^#я¤¤¬=AT HONGKONG, WEDNESDAY, JANUARY 28, 1920. 日八月二十未已交共年人國民事中
January 28, 1920, Temperature 80.
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GOLDEN GOLD.
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FREE MARKET MENDS PRICE.
LOON, January 23.- The Times in its annual financial review for 1919ys as regards, fold that last year must take precedence of any since 1913 for eventiginess. It had, inter alia, confirmed the conclusion of the leading economists of the nineteenth century that gold, despite its limitations, provided the most suitable basis of a.sound currency system. These conclusions, had "trium- phed in the restoration after five years of a free market in sale and 'current.. output.
Permission was granted to Australian producers in order to prove their contention that they were receiving less than the market value. It resulted in their disposal of 210,000 ounces averaging £4 15 9d. the standard ounce in the four months ending Jan. 7. It was mainly sold. to Hongkong and Shanghai
EARLIER TELEGRAMS.
(Sevdate foroščo to the Chino Maữ.)
THE ***PONHATTAN."*
HALITY, January 2nd. The Lady Laurier has reached the Powhattas sad is trying to connect the tow-lins.
HaLiras, January 23rd. All the Powhatan's passengers have been transferred withous accident to Lanother steamer.
They were suffering from the effects of the severe cold and rough seas, and pro- cooded to New York.
INFLUENZAȚIN AMERICĂ.
Niw Your, Japnary Bird -- It is estimated that a thousand new infueran `case were reported in New York City, and over two thousand in Chicago yesterday, but the mortality raté shows a reduction.
FRENCH DELEGATES.
Loxpox, January Sind. Millerand, M. Marshal, M. Isaac M. Five French Conference Delegates, H. Paleologue, and M. Chabon, have been. appointed.
The cause of the rise in the paper price of gold is shown to be the same as in the Napoleonic wars, when it reached £5 10s. per standard ounce, namely, an excessive issue of paper currency in relation to the supply of goods and gold. A tabulated statement shows that the value of the world output last year was $75,000,000 whereof the Transvaal produced, $35,500,000. The rest of the empire practiced £14,000,000. These totals may be compared respectively with £96,800,000 £8,600,000, and £20,100,000 in the year 1915. The world's dropper cent. last year compared with 1915 was twenty-two. Allowing for labour
PARIS, January gard. difficulties and the effects of increased working costs, the experience of M. Millerand's Ministerial statement
Havas message states the gold industry in wartime has emphasized the danger of attempting to was greeted yesterday with applause in limit the operation of the law of supply and demand.
the Chamber.
HAVAS RETIETY.
It is pointed out that producers are wisely stimulating the largest. It contains ir promises for carrying possible output at present as the existing high price of gold as wired. out the Pesce Treaty, and a strong pro cannot be maintained. Consequently decreased production is regardable gaming of reconstruction and socis. as checked and an increase is confidently anticipated in 1920 unless the
reform unforeseen happens. India was an important factor in the gold market in the second half of last year owing to a favourable trade balance. The Indian government recognised that it was cheaper to buy gold than silver. In order to meet currency demands it prohibited the private importation of gold despite the producers' protests; and on the basis of exchange and the price of silver it was enabled to buy sovereigns at about twenty-four shill ings and resell them in the bazaars at a rate working out at thirty-four
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ten of our most prosperous Departments Germany, M. Millerand said, devasted To. repulse the aggression and to win victory, France had been obliged to exert box sergies. The valer of pur soldiers recognise it by words. saved the country. It is not enough to
victory should give us ita full benefit, it In order that will be necessary to make many efforts to show as much abnegation as during the war. The days of sacrifices are fur from being over. The country is as ready to see them imposed it was during the
War.
To avoid the renewal of the war, M. PARIS, January-23. Millerand said, we ought to have faith Interviewed by Le Journal Lord French said. that all Irishmen must in the League of Nations, The French not be condemned because of the individuals who attempted to assassinate Government, he said, will not neglect him. He attributed the principal cause of the trouble to the fact that anything depending upon it in order to emigration had been stopped for five years and young men having refused. The new Cabinet obtained the vote of
help to fortify ita organisation. to serve their country in wartime to-day felt the shame of their abstention, confidence by 272 votes against 23. 300 They imagined that their exploits made them heroes, whereas they were deputies abstained from voting- only braggarts. Order would be restored if martial law were: proclaimed but this would only be done as a last resource because-bowever leniently and efficaciously it was applied it would leave a legacy of bad menyusies and irritation. A beginning would therefore be made by the suppressing of the instigators of outrages. It was hia duty to restore order in Ireland and he would not fail to do so.
STORMY DEBATE IN FRENCH PARLIAMENT.
Contatti takanamy
PARIS, January 22.
After five hours' stormy and confused debate in the Chamber of Depute, M. Leon Daudet moved a resolution condemning the appointment of M. Sipeg za Minister of the interior, but it was rejected by 383 votes to 14.
M. Millerand rejected a number of orders of the day, implying no confidence but finally a vote of confidence, was passed by 272 votes to 23, but there were 300 abstentions.
As result of the debate M. Millerand remains at the head of the Govern ment, but he will have to face fiery sasaults on January 28, upon the debate on the foreign policy. The Government is not expected to remain in power long.
TESTING GERMAN GOOD FAITH.
WILHELMSHAVEN, January 23.
The inter-allied naval mission to inspect at German ports the manner in which the Germans carried out the naval terms of the peace treaty arrived aboard His Majesty's ship Malaya and exhaustively inspected the yards here, likewise. at Heligoland. Admiral Charlton firmly pointed out that the treaty must be carried out literally: Eight battleships were found in deplorable conditions. The commission was everywhere respectfully received. It proceeds to Kiel and ultimately to Berlin. The crews of the inspected Warships sang patriotic songs but there was no uther incident.
PAISLEY ILLOTION.
LONDON, January 22. The Paisley unionists have adopted James Mackean as coalition candidate. Meanwhile, labour extremists threaten to run a second labour candidate.
AUSTRALIAN GENERALS POST-PRANDIAL.
MELBOURNE, Jan. 25,
The federal government entertained General Birdwood and the Austra Han generals to dinner. General Birdwood in respondide to a téast said their frat duty was to maintain welltrained citizen forces for defence, not defiance. New Zealand and Australia should work as one nation..
CHINESE TELEGRAMS.
By Arrangement with the Pak Tri Yat Po.l
PEACE TREATY IN AMERICA.
WARINGTON January Unde further conference between the leaders of It is stated on the best authority that the Senate.yesterday resulted in material progress towards a compromise on the Pases Treaty. It is now regarded as possible to harmonise the differences ou Article 10, and the question of the voting power on the League of Nations.
The members of the Conference are sure thas the Senate will accept any com- promise reached at the Conference.
HOLLAND REFUSES TO EXTRADITE.
EX-KAISER.
LONDON, January 22nd. land has despatched a Note declining to The Frening Standard states that Hai- extradite the ex-Knisor, unless Germany also demands it.
There is no confirmation of the state ment.
TU HAQUE January Brd. The Dutch Government has refused the extradition of the ex-Kaiser.
THE RUSSIAN SITUATION.
LONDON, Jannery Štud fress surprise.
The Bussian situation has developed s
The French Press yesterday expressed concern at the statement that Great Bri tain will not be able to provide bar quota of troops for the plebiscite sresa în view of commitments elsewhere.
It was officially nanounced in London Last night that it had been found neces sary to modify the arrangements to and elaven British battalions to East Prussia Bilesia and other plebiscite areas. It ha now been decided to send three battalions. two others, subsequently, go to Danzig. One departe for, Flensborg to-day, and and Allenstein, respectively
A section of the Frees interprets the announcement as indicating the resump tion of the policy of military adventure. which it was thought bad been abandon ed last week when it was decided partially to raise the Russian blockade.
UNITED STATES ARMY. -
NEW YORK, January 22nd. Addressing the Military Committee of the Benste, Mr. Baker,Secretary for War, endorsed the Committede Bill for the reorganisation of the army as the most statesmanlike measure.
Minister to Japan. It is said that Lau will take the advke and proceed to Japan at an early date. A
The Bill provides compulsory military training and the formation of a large Chow Kia Shu had a telegram army, composed of the Citizens, the from Harbin reporting that the Reserve and the Regular Army, consist British and French forces in Siberia ing 280,000 men, and & National Guarde will leave when the American troops do. He also reports that Japanese troops at Siberia are still being re inforced
SHANGHAI, January 27.-
AMERICAN BANKERS IN Sau Kwal Hing, the Kirin Tuchun,
CONFERENCE. reports that the bridge at Vick Ma Chun was blown up by a mine placed
WASHINGTON, January 2îndigj The Premier told the represent-
Mr. Hawes, President in America of by the Bolshevike, ma
Association. atives of the Shantung Province in the American Bankers' Lak Ching Cheung informs an in-fan interview that he would not con Conformes, declared that American addressing the Pan-American Financial terviewer that as he was opposed to sent to direct negotiations on the bankers aimed ab establishing closer, and the Treaty of Versailles he should Shantung question though the result more productive relations between the not be called upon to deal with the of the submission of the question to Americans, and at assisting Europe with question of the retrocession of the League of Nations Could not be properly secured credited Tsingtao. The country as a whold" anticipated said Luk "must endeavour to devise. some means for settlement,
The notes of the China Banks and Telegrams recared by the Premier the Communication Bank have risen from all quarters ? unanimously to 66.
favour the Shantong question being
decided by the League of Nationa
Luk Ching Cheung advices Lau Kan Yan to accept the post, as
WALLA-4
A group of the Committees have agreed to sak for the following loans bere, sub ject to the approval of the Conference: Ecuador 150.000.000 for refunding: and transportation; Nicaragna," $5,000,000 for transportation Bolivia, amount not Epeckled, för
for trasponom $20 $8,000,000 Parguer,hich applied for losas for fan: kaspecífed, smetni, has adoptad: plana
to colonias 3,000 Balaian, Fa
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