CHINA
WORTH
THE CHINA MAIL, MARCH 21, 1989
TRADE WELL
PRESERVING
Government
Explains Chinese Currency Bill
sion, however small, towards re- is to be invested in sterling here taining the cotton trade and help-and the interest on it available to ing them to maintain markets they help the Chinese banks to pay the had got. He believed, however, in interest due to British banks. In- A long war, and that Japan's terest at 2-3/4 per cent. was agreed struggles would really begin when on at present. the war was over.
If the amendment was pressed to a division, he would vote for
the Government.
TO SUPPORT TRADE.
If the agreement was renewed after a year, a higher or lower rate of interest might be appro- priate.
of
London, To-day. Moving the second reading of the Chinese Currency
The reason why an up-to-limit Bill in the House of Commons yesterday, the
in Mr. F. J. Bellenger (National rate of interest was not stated Chancellor of the Exchequer, Sir John Simon, Labour) said that if the purpose of the Bill was that the agreement declared that while the total British trade with the Bill was to foster Sino-British might continue for a number
years and "we do not want to keep China was not a large percentage of the total trade, he would support it.
Sir John Simon then intervened coming back to the House for au- world trade, it was well worth preserving and and gave an assurance that that thority."
The Commons, without division, assisting especially because China had an im- was the purpose of the Bill.
the Mr. Bellenger then asked whe- passed the second reading of mense population and a small increase of purther the fund would be operated in Bill, and the accompanying money chases per head made an enormous difference. co-operation with the United States resolution was agreed to The outbreak of hostilities was a severe test of the and France similarly to the tripar- discussion.-Reuter.
currency system adopted in 1935.
The Chinese adopted very well devised technical measures and the Chinese abroad supported their currency with remittances, subscriptions and war loans.
tite agreement.
Sir John Simon replied that in different forms, efforts to assist the
financial situation in China
had.
without
CROAT LEADER
been made by other Governments. ON MINORITY
For example, the American Gov- Pernment had been purchasing con- siderable quantities of silver but as tradition of the far as this particular proposal was concerned, he must ask the House to accept it as our contribution.
Last year's currency measures, putation and were carried through in an order- Chinese in this matter." ly manner with the minimum dis- turbance or undermining of confi- dence. "If the House supports this bill they can be assured of the re-
HALIFAX PAYS TRIBUTE TO CZECHS
LONDON, TO-DAY.
Mr. Pethick Lawrence (Labour) supported the Bill because it pro- vided an incentive to British trade and particularly because it China definite support in her strug- gle against Japan.
gave
DISTINCT HELP
PROBLEM
ነ
Belgrade, To-day.
The Croat leader, Dr. Matschek,
Capt. Euan Wallace, Financial Se- stated to press representatives yes- cretary to the Treasury, replying terday that no conversations had to the debate, said that the Ophitherto taken place between the position speakers admitted that the FURTHER SUPPORT ·
Zvtkovitch Cabinet and himself, re- sum of £10,000,000 would be the The time might come when the
It garding a solution of the Croat Government would do well to consi-most effective for the purpose. der how far it could take other ac- tion to strengthen the Chinese and prevent the Japanese attempting a stranglehold.
Mr. Geoffrey Mander (Liberal) in support, said that he regretted that the Government was approach-' THERE WAS AN UNUSUAL- LY LARGE ATTENDANCE OF ing the matter in far too narrow a
to do far more to secure the free
had. also been recognised in question. debate. that the Chinese cur- rency was not at present totter- ing. It had been stable for some time and very well supported
from inside.
Denying a suggestion that this was a proposal not for private were associating these four banks in-the management fund was be
Dr. Matschek emphasised that under no circumstances would he abandon certain demands consider ed as the irreducible minimum, namely, a federal constitution for Croatia within existing frontiers. under the rule of the Karageorge- of the Croats within the borders of the Croat State, and the placing of
PEERS TO HEAR THE STATE.spirit. He thought we would have/banks, he said that the reason they vitch Dynasty, self-determination ' TIONAL SITUATION BY THE entry of British trade in that part cause they were able to dispose an Croats de facto on an equal level
MENT ON THE INTERNA-
FOREIGN SECRETARY, LORD HALIFAX, IN THE HOUSE OF LORDS YESTERDAY IN RE- PLY TO SPEECHES BY THE OPPOSITION LEADERS, LORD SNELL AND LORD CREWE.
to Lord Halifax paid a tribute the Czecho Slovak authorities, whose police had received orders to
act,
of the world.
..
immense amount of ability and ex-
Mr. Mander added that the Gov-perience in this particular job and ernment was actually, carrying out
they also had the great merit of one of the League's resolutions.
being on the spot.
TORY REGRETS
Mr. Ellis Smith (Labour), mov-
Whatever the Government might Mr. R. J. G. Boothby (Conserva-or might not have done in the past tice) only regretted that this as to help the Chinese, there was not sistance had not come sooner and
the slightest doubt that the Bill was not more substantial.
would be a distinct and very great Bill would be unanimously support- that it was impossible to check
ed because this would have a con- fluctuations unless a different poli-siderable psychological effect on tical and economic policy was pur- sued by the Government in the Far East.
with other peoples forming the Yugo-Slav Kingdom.
Foreign affairs must be conduct- ed by a Central Government at Belgrade with due regard to the interests of Croatia.
al-
and in fact. did act, with greating the rejection of the Bill, argued help to China and he hoped the signed for the fulfilment of these
restraint in the face of great vocation.
pro
China,
CURRENCY PLAN ·
The Foreign Secretary said that 20 years ago the people of Czecho- Slovakia recovered their liberties with the support and encouragement He accused the Government of Capt. Wallace, referring to the of the greater part of the world. They had now been deprived of tarian assistance to the Chinese China. and the British Govern- them by violence.
people because they had not want-ment's protest in this connection,
Dr. Matschek added that though no time limit had been as-
demands he hoped that official circles in Belgrade would soon take necessary, measures for giving satisfaction to Croat claims. Trans-Ocean,
failing to take the lead in humani-Japanese currency plan in North FRENCH TROOPS
If an attempt were made to alter
CALLED OUT IN DAMASCUS
Damascus, To-day.
In the course of their long his ed to offend Japan, and said that added that what perhaps was more best tory this would not be the first time Government policy in the past comforting was that those this tenacious, vallant and indus-eight years had been to do a deal qualified to judge, were inclined to trious people had lost their in- with the aggressor at the expense think that that the plan would, in dependence, but they had never lost of the victim.
practice, break down. that which was the foundation of Mr. J. J. Tinker (National La- Independence love of liberty and bour), in seconding the amendment, the dollar rate from 81⁄2d to 1/2d, meanwhile, just as after the last declared that what was now being the immediate result seemed likely French troops have occupied War the world watched the emer done was the result of our not to be the complete cessation of ex strategic points in Damascus fol. gence of the Czech nation, so it making a stand when Japan Invad- port trade and it seemed that Chin- would watch to-day their efforts to ed China.
ese legal tender currency would lowing the decision of the French continue in circulation everywhere Government to take over. all preserve intact their cultural ident- ity and, more important, their spiri Major J. J. Astor (Conservative) except in towns and along railways tual freedom under the last and said he hoped the amendment where Japanese control was effec powers necessary to maintain in-
ternal security. most cruel blow of which they had would not be pressed and said that tive.
The chief of police has resigned been the victims. British Wireless. nothing would more hearten the TO OPERATE IN HONG KONG
Chinese Government and people Capt. Wallace stated that the and the head of the gendarmerie thany that the House should pass place of operation of the fund has been appointed in his plate. An attractive album of photo- the Bill unanimously.
would be Hong Kong and £10,000,- Several were injured in a clash; graphs, entitled "Hong Kong an Mr. W. A. Burke,(National La-000 would be subscribed Imme between police and demonstrators, Outpost of Empire," has been pro-bour), who represents a Lancashire diately and as far as $10,000,000. who were returning from the duced by Messrs Kelly and Walsh constituency, said that they had to Before it would be required for funeral of a man killed in a pre- and is now on sale at $1.
for any conces, the purchase of Chinese dollars it vious disturbance,
HEARTENING CHINA
be very
天
Router-