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THE CHINA MAIL FRIDAY, DECEMBER 12, 1947.
Of The Currency
RISE IN PRICES FORECAST
Chinese Distrust Of Nanking Policy Attacked
Shanghai, Dec. 11.
Neutral economic experts sald today that prices
throughout China would increase steadily dur ing the remainder of the year, despite the Gov- ernment's stern measures against black mar- ket activities, and would "shoot up alarming- ly" in the Chinese New Year unless cavities of inflation are promptly dealt with. Half-way measures now in prices and "missed attempts to force or contemplated are hav-reach a favourable export and ing only a slowing effect on the import balance."
They sald country's economy.
the Government must cut mili tary Appropriations sharply, revise export and import re gulations. Improve business and institute inx
roforms hitting the rich as well as ordinary
No Help
7.
Economic exports said that a 20 to 30 percent commodity price increase throughout China yesterday with the lo- Huance of CN$100,000 dollars bills is the best indication that businessmen distrust the cur- rency, and the expected an-| nouncement soon of a CN$40,- 000,000,000,000 budget is "not
SPECIAL STAMP goint to help much.
ISSUE
London, Dec. 11. *Plans to issue three stamps-to com. special
memorate the Silver Wed- ding anniversary of the King and Queen in April, the liberation of the Chan- nel Islands in May, and the the Olympic opening of Games in July-were dis- closed in the House of. Com- mons by the Postmaster- General, Mr. Wilfred Pai- Ing-Associated Press.
businessmen, if inflation is not to continue to grow in leaps and bounds,
Businessmen in Shanghai in- Bisted that the Government monopoly of imports and ex- porta through a rigid licensing system is one of the greatest contributing factors to the in- creased prices, claiming that the Government at the eame time cut itself off from Cus- toms revenue amounting to bil- lions of dollars, increased amuggling which Increased
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Workers are hardest hit In the current price jumps, with commodity prices, except in few cases of price controla, re- fleeting the black market dollar price around CN$140,000, while paid a cost of living index ap- proximately 60,000 times the The economic pre-war costs. experta suid that unicas the cost of living index in Shang- hal takes a major jump on the first of the year the workers will suffer undue hardships.
The price of white rice reach- ed CN$950,000 per picul (110 pounds); while the stock mar- Let situation is reflected in the price of Wing On textiles which found few, if any, buyers at the record price of 432, holdera of Wing On shares preferring to hold stocks Instead of cur- rency.
Economic observers predict- ed that the Chinese New Year probably would be following by alarming price increase unless the Government in the next six weeks brings expenditures line with
in
its fncome, which they said could only be done through the cutting of military they expenditures and this. said, is virtually impossible be- cause of the growing Commun- ist threat.
2
M. Robert Schuman, Premier of France, under whose firm leader- ship the Communíat-inspired strikes havs bren braken. (Photo)
FRENCH STRIKES DRAW
TO A CLOSE
Paris, Dec. 10.
Most of France's 1,000,000 strikers resumed work today after an absence of three weeks, but the Executive Committee of the General Con- federation of Labour announced at midday that it would continue to fight for the "release of imprisoned strikers, and the abrogation of the Government's anti-strike law. A The Confederation yesterday ordered the strikers back to work after the Government's warning of sterner measures if there is not a big scale return today.
It had been said that "strikes
Bank Loans The economic experts also In pointed out such instances Shanghai as the fish markets' boycott of UNRRA ishing catches, as one of the best ex- amples of difficulties besetting
In a communique today, the f One faction the Government. controlling the fish market re- Confederation announced that do not pay. We observe fused to help UNRRA catches might postpone its national con- that strikes are expensive, very gress from Dec. 19 until the expensive, for the nation. More landing because it would force Government wage proposals, ac-than 2,000,000 tons of coal, more fish prices down, while other cepted last night, became effec-than 400.000 tons of cast steal and the entire stoppage of un- Government factions are seek-tive.
loading of, supplies from ships
:
CEYLON A DOMINION
·today
London, Dec. 10. The Ceylon Indepen- donco
Bill, which makes Ceylon an independent na- tion
British within the Commonwealth," was passed by the House of Lords 'to- day.
The Royal Assent, which
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:
THE HONG KONG JOCKEY CLUB
NOTICE TO MEMBERS
ing any sort of means to force The return of strikers in the prices dowIL
port of Marsellles was not com- In Nanking, meanwhile, the plete although some began work Government Information Di-for the first time for 28 days and rector, Hollington Tong, said sailors rejoined their ships,. It that banks would grant loans was hoped that omnibus and to business and industrial firms tramcar services would be run- once again "when comparativa ning normally by this evening. stability is achieved in the Miners in the Lille area were who still opposed by strikers, market." The Shanghai Cham-wanted to stay out and pickets ber of Commerce petitioned the prevented those who wanted to Government asking for, resump-return to work from entering the tion of loans to bona fido busi-pits at Sallau mines.
Paris housewives had enough ness and industrial firms, on the ground that the Govern-gas pressure for cooking, water ment refusal, which is stifting pressure was back and work to clear the boulevards and streets local business activities, is con-of heaps of rubbish was started. makes it law was being tributing, to the inflationary Premier's Broadcast given later in the evening. trend.
-Reuter. The Prime Minister, M. Robert Tong said, "It has been the Schuman, told the French people constant policy of the National in a broadcast tonight: ""The banks to premote commerco and Inst stellees are drawing to a close industry. Recently they were today. Work starts again. The these among many other losses Instructed by the Government country breathes noce more
the "HONG KONG The only victory of which the bave been. Infileted on the coun-Office of the Treasurers, 1st Floor, Exchange Building also
tickets for the Special Cash Sweep on to suspend loans to business
DERBY" scheduled to be run on the second day, Monday: 10t lima as a temporary measure Government hoped one day to be try by three weeks of strikes. proud, M. Schuman, continued.
January. The latter may also be purchased at the Club's Branch necessitated by the sharp rise is the victory over misery, in- "The Government has shown Office, No, 382 Nathan Boad, Kowloon, de parquet zout, Sefatter: of commodity prices."-United justice and exploitation of dis armness on the side of workers to MEMBERS' BADGES AND ENCLOSURE, DA Preas.
tress
against saboteurs of employment and will join with workers Members are reminded that they and their ladies MUST wear their badges PROMINENTLY DISPLAYED throughout the their unrelealing fight against meeting. food saboteurs M. Schuman NO ONE WITHOUT A BADGE WILL HE ADMITTED "TO THE MEMBERS ENCLOBURE
No More Talks Yet On The Sudan
London, Dec. 11.
Unrelenting Fight
ANNUAL RACE MEETING 1948 Saturday, 17th January, Monday, 19th January, Tuesday, 20th January & Saturday, 24th January.
The First Bell will be rung at 11.50 am, and the first race will be run at 12.00 noon, each day. The tiffin interval is after the fourth race (1.30 p.m.);
[atthe Through numbers (44 race 388.60) may be
Requesting farmers to s make available all their products, the Badres "admitting non-members to the Members Enclosure nid: "From this week, the Go and Clab Booms at 310 per day including tax are obtainable, vernment will undertake consul- through the Secretary on the written or personal intr tations, out of which will come a of a hember, such Member, to be responsible for all oblia etc. general settlement of economie Badges admitting to Members Enclosure will NOT and social problems.
sale: at the RACE COURSE, CA
In the present circumstances it would be premi. "If everyone brings to his task The Treasurers Compradore Office and the
ture to consider an immediate resumption of the same goodwing spirit of Offico will close at 10.30 am. osch day. Both the Anglo-Egyptian negotiations on the hope will arise, if this falls the Floor, Exchange Hallding, defen Sudan, Mr. Hector McNeil, Minister of State, Government will show that it A limited number of uffins will be obtainable
caa sise its authority, na much House,
told the House of Commons today in reply to against those who strike, na (Tol. 1781820en they are order in advance from the
a question.MA Mr. Thomas Reid, Labour, had Egyptian Government, have in- para naked If negotiations would be re-formed the Governor-General of sumed to secure the "much need-certain amendments which they ed early -settlement of Anglo- sould be made and the Governor Egyptian differences about the General now has these amend Sudan in the common interest ments under conside
Bete these biruvian of all three parties now that there ar
are definite proposals, British and premature to consider! an Egyptian about the constitutional diate resumption of the development in the Sudan"? Egyptian Enegotiations
Sudan Beuter.
* Mrr (MONEİl'a reply, was that
imme
on the
NOT LEAVING
against those who, spread- dhe NO. CHILDREN WILL BE ADMITTED TO
FREMISES DURING THE MISERINGKA
PUBLIC ENCLOSURE. The price of admission.tohe Pubile day including tax for all parvaris inclu able at the date.
Tasmania Graft Case
Hobart, Tasmania, Dec 115
operate within the duri
the rishme
Rado
of The Hong