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HONGKONG, SATURDAY JANUARY 7. 1922, 日十初月二十酉辛次歲年十國華中 PRICE $8.00 Per Month

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PRIMA S ACONOMIC

VIEW

RUSSIA'S RETUÎN ESSENTIAL

REPARATIONS AND REPINSTAL VODEN.

Pisa, January (

JE VALERA RESIGNS.

READY FOR RE-ELECTION:

AIM TO DEFEND THE REPUBLIC.

LONDON, January 6. The Freeman's Journal sties that Mr. De Valera

The fall set the Supreme Comed opened in baltinct sunshine A large force of endurmes at the has resignes). var hi chul wore anong the extraordinary pr cautions. All ads of admission were cla oly zerulatused. A crowd mambering hundreds ves pretfully øreted the conference members. 1. Briand hud Mr. Lloyd George on his right and Colonel Harvey on his left. The British and Italiana were on one side and the Japanese and Belgians on the

olen

TRONG RUSSIAN GUARANTEES.

LATER.

LATER.

Mr. D Valera's resignation les been officially announced in the Dail.

LONDON, January 6,

Mr. De Valera has announced that bia resignation involves the resignation of his cabinet. He will offer himself or election standing on the principles of 1916, as he must get a cabinet which thought with him. He would demand that all resources ba banded over to him to tend the repablie.

the

The Dail votes on the Griffith motion approving treaty on January 7.

DAIL'S SECRET SESSION.

HENRY

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After a brief speech of webome by M. Briand. Mr. Lloyd George in a long speech reviewed the economic situution in Europe. He declared that the deplorable situation in Russin was a heavy burden on the economic resources of Germany who before the war derived much, of her prosperity from Russia and argued that it was in the interes of France with regard to reparations that Sosion and Herman econome relations should be re-agreement rogar ling the treaty. The meeting was the newed

outcome of an unofficial committee of nine representa - lives of both sides which conducted a series of dolibera- tions yesterday.

He emphasized that strong gumandoes would be deuranded from the Soviet firstly for regnition of Rues as foreign d-lite.

The Belgian and Italian delegates supported Mr. Lloyd George's conclusions.

The Dail Eireann held a morning to consider the possibility of finding a luais for

According to Comman laat O'Duffy, the points agreed upon include arrangements enabling the raten.

M. Briand said that. Mc. Lloyd George's views weretion of the services of th : President and avoiding a split well founded but insisted on the question of guarantees in the country. On the other hand a report in a well- to be demanded from Germany

informed quarter says that the theme was turned down

The principle of an international economnis confers | by Mr. De Valera personally. ence was adopted after which the rouncil examined the que lion of guarantees from Russin.

BRITISH VIEWS.

CANNES, January

The British view of the discussions of the Supreme Coured is that the main questiona comprise reparations; · reconstruction of the trade of Central and Eastern Europe: British and French co-operation in the Near

FRENCH SUBMARINE CLIMS.

MISUNDERSTOOD ATÉ DES

INCIDENT APPARENTLY NOW CLOSED,

WASHINGTON, January G The final form of the submarins resolution adopted East in which Italy is interested; the overwhelming by the plenary naval committee contains a clause insert- peressity of France for protection against a recurrenceed on the motion of the French delegation which, refer- of the events on her castern border and the probability ring to the impossibility of using submarines against that if so reassored France's views on the reduction of artamen's would be modified. Without such modifica tion the Snuncial nightmare hanging over Europe cannot

be removed.

merchantmen without violating the requirements of civilised nations says "as they wera violated in the war of 1914-18." This spacific French repudiation of the entire German theory and practice with regard to sub- marines has apparently closed the Anglo-French incident The Supreme Council, which sat for two hours in arising out of a misunderstanding of the French attitude the morning resolved itself into two commissions one of when the question of limitation, of submarino tonnage which will deal with reparations and the other the was discussed. reconstruction of Europe.

CANNES, January 6.

ERRONEOUS INTERVIEW REPORT.

DREAD OF GERMANY.

PARIS, January 5. With reference to the Brussele message cabled Commenting upon the submarine question, Le Temps yesterday reporting an interview M. Brian gave a expressen surprise that France's claim to protect her Belgian journalist, the Havas correspondent at Cannes coasts without having to rely on outside help should Authoritatively states that the interview gives an raise suspicion while German specialists are again pian- entirely erroneous report of M. Briand's words. The ning submarines of unprecedented strength. Thus the French Premier merely state that neither Britain nor German professor Flamm lately worked out complete France wanted to make final decisions at London in the specifications for subinarines up to nearly 10,000 tons absence of Belgium and the latter country would be able to defend ber rights at Cannes with complete liberty.

[The cable in question read: Interviewed by a Belgian journalist at Cannes, M. Briand. the French Premier, sccused Britain of isolating France and Bogium by the financial agreement of August 13, and promised to support Belgian priority in connection with reparations if Belgium supported Franco against Britain and Italy on the moratorium question.]

DUTCH IDIES TRADE;

BRITISH STILL ASLEEP.

LONDON, January 7.

with a speed of 28 knots and 8-inch. guas. Le Temps. bears that motors and parts are being manufactured. secretly abroad. perhaps in Spain. Havas.

SHANTUNG DEADLOCK,

NEGOTIATIONS IMPERILLED.

"HOPELESS OF SOLUTION."

WASHINGTON, January 6.

The Shantung controversy appeared hopeless of solution after a 90 minute session of the Chinese ant

An article in the Times on the Gorman trade Japanese delegations to-day when the Chines announc menace in the Dutch Indics points out that they offered that unless Japan accepted the Chinese, plans for wide scope for further development in which Britian Payment for e Kaochow-Teinaniu Railway in onth should take hor proper share. A disturbing feature is instalments by Friday conversations would und. the paucity of British official representation in this It was stated later that only the renewal of the territory. It is hoped that useful work may be nocom good offices of Messrs, Ballout and Hughes could then plished by the organisation of groups, not computing bring about another meeting of blik groups. Heins, for the purposs of establishing joint sales bureaux Mr. Wellington Kyo said that the Chinese definitely and it is felt by many that it would be advantageous to bad reused the Japanese proposal for a los but had establish branch factories to rethin a share of the trade made a encomiun with regard to the immediata deposit of the Dutch Indios.

GENERAL ELECTION PRÓSPÍOTS.. NOT SO STRONG AS THEY WERE

LONDON, January Equity in political circles to-day shows that the prospects of an early gondral élection do not appear to be no strong as they wers rede

of 92,000,000 Chinese dollars as a cash payment. The | Japanese abbitude has not been intimated but it is understood thes Japan will insist on lending the Übinere the money with which to purobaso the railway,

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