THE CHINA MAIL, SATURDAY, AUGUST, 21,, 10:40.
CHINA'S NEW CURRENCY
Varying Reaction To The New Sun Dollar
Confidence Of
Of The People Paramount Factor
Shanghai, August; 20:
A group of 25 local Government and Kuomintang officials and industrial businessmen left for Nanking last night, ta attend a. canforence with the Premier, Dr. Wang Wanhao, regarding the new currency raform promulgated yesterday.
READY TO
RELEASE
RAF JET
The
Meanwhile, all Government and commercial banks
will be closed today and tomorrow,
| The first-reaction to the new currency, raform, which Hit the city like a bombshell lato yesterday afternoon, varied from mild optimism. to out- right scepticism.
te back new China currency.
The State Department issued.a imilar statement
Berlin, August 19. All financial sources bontact- fare no talks going on between. unanimous in the the U.S. and Chinn looking 10- Russians tonight ined were formed the British authorities
opinion that confidence of the ward the use of American. gold people in the new currency n Berlin that they were would be the paramount factor feady to hand over the Vam-
in its success or failure. bire jet fighter which had nade a forced landing inside he Russian Zons on Monday.
Yeat'. Last-
Wishes
London, August 19. The Eire corvette Macha will, leave. Cork on Sunday for Dublin on the first stage Her telp to Bouthern
of
France to
bring back the body, of William Butler Yeats, Jelah, poet who died * near Mantona, in 193#,
A Government reprezenta- tivo. will join the corvette, af Dublin and she will then, call for France:via Gibraltar next Wednesday.
The. corvette will return to. Sligo. where the poat's body will be burled in. mó- cordance with his lost,wlahon. -Associated Press.
WASTE OF PAPER
.'
Shanghai, August 20
The Shanghai Evening Post and Murcury said the Finance
12 www pointed out that it is American authorities in general Bureau has mailed to residents almost impossible for the Gaynde no official comment an crement to call in all gold, silver the new gold. Yeun.. They indionthere a tax advice in tripliente holdingsed they are puzzles by the Chifor CN$45,000-"not enough to
ese plan to make use of gold to buy a package of peanuts."
The "Post" · Bgured that the cost of three sheets of paper on envelope, and
totaled postage CN5243,000 a loss of CN$200, 000:
and foreign currency unless the public conddent in the new Gold Tin. pilot
The route to be followed by `n turk from the British Zone tu
llect the plane and its bould be notified Inte tonight or arly Lotnorrow, the Soviet uthorilles stated,
The Russians tonight protested the American authorities that merlens air 11ft planes Wore
ylug directly over the Sovtel Badquarters in Karlshorst, in he Soviet sector of Berlin, nt a eight of abunst 300 leet The
rutert was made by the Russina ntroller in the four-power air afely centre.
A high Amerirus offieful, com- enting on the Russon, protest, ated: "The legal course for the rlift planes happens to take tem right over Karlshorst. Just be very anoying
for the a
gh Suvlet officers to have
g American plane roaring over Fery three minutes.
"Reudings proved conclusively.
that
Commenting oit the Govern- ment statement
the new currency would be 100 per cent backed, the question n-ked was, "but what exactly the support? What reserve has the ment got on hand. and where does it expuel to obtain the rest?"
Govern-
book the new currency.
China's gold seserve are be tloved to be small, said these officials.
MARGARET
PROPOSAL ? Buckingham Palace sources today defied published
London, August-19%
reports that the Marquariat. Blandford/would propose to Princess Margaret Rose on Saturday, hor 18th birthday.
The widely-circulated Even- ing Standard today' published: reports from the French news- paper L'Aurore that the
22- year-old Marquess of Bland- ford would make a proposal of marriage to the Princess Saturday at Balmoral, under the headline "Margaret-a pro- posa!?!!
on
British newspapers recently paid, an unusual amount of at- tention to the Marquess and the. Princess. They printed pictures of. the young peer and gossiped: about the pair in their columns, On Tuesday, the Marquess whe pletured with his sister, Lady Rosemary Spencer-Churchill,
on their way to Balmoral to stay. with the King and Queen and Princess Margarel.
'Abou! two weeks
ago, the newspaper Paris Soir carried a {story on the probable "engage- ment of the Princess and the tall blonde son and heir of the Duke of Mariborough."
those
PRINCESS MARGARET:
A near friend of the Duchess
Buckingham Palace ourcom today, however, slapped down, and Princess Margaret.is known published reports, “we{to bør on affectioɑnio-terms- with know nothing about it. it many of them.. totally untrue, and nafar sgewan know, the Marquens, la just one of the Princess's many friends," wald a press assistant,
In the
past months, Princess Margaret's name had been linked "Multiply that figure by the with Prince George of Danmark, number of taxpayers in this city," the Marquess of Milford Haven, the Post sald, and you get on kieu and Lorda Dorchester, Derby and why the city is
vis piling up a back- Ogilvie. Lord Derby bas since married and it is generally known the Post added editorial that the King
will "We have nothing against the permission to m.official engago- not give his conculine system although winent in don't happen to use it ourselves, reaches her 20th birthday.
Princena Margaret
We feel, however, that concubines
Some. Doubts.
However, some months ago the State Department is making pro-kreaking irrig the
posal to Congress on the then proposed. ECA China ald
China's off grane estimated. cial gold holdings to be about U.S. $80,000,000 and that in silver about U.S. $28,000,000.
Businessmen regarded statement that Import quotas would be still further reduced " bad. begining for what is to be a good currency."
U.S. Puzzled
Most observers were interested | be
pro.
of Marlborough-mother of the Atarquess-said today that there 上回
no fai
talk of an engagement" in Woodstock, Mariborough's village. Admittedly the Frinecas had a tended parties at Blenheim Palace "but then so have many other young girls," she added-United Press
PRINCESS TO FLY
London, August 19. Princess Margaret wir, fly to Holland when sho attends the can be atuncially productive if Friends of Princess
forthcoming installation of Prin Margaret someone starts Officials here said these maying the equivalent of U.S.$2,000 say that the Princess
cess Juliana tax system levy- frown on the reports
and they Netherlands,
as- Queen; of the
the monetary
is a gay, each new for
one.. We feel wilty teen-ager and the Marquess She will be accompanied by! should bc allowed to a dull, rather pufly-laced British the Duke of Beaufort, the Cour acquire the intet models na long juristocrat.
teos, of Halifax, Lady Margaret, as they kick in contribution Thereare a number of young Egerton and Wing Commander. to the National
Treasury."-inen besides the Marquess staying Townsend.
lat Balmoral over the week-end Associated Press.
rearvos that
in finding out what part present Chinu is placing behind the new people American aid would play in pro-currency. viding part of the backtime
to
the new currency, and whether The United Stater Government
wever, that our planes seldom might be willing to back further
lower than 500 metres in that cinity. Our pilots are perhaps.
the New tepature in Chinese nderstandably timid about tak
currency. ig risks over Russian controlled
rritory".-Reuter.
A Treasury spokesinan in Was- hington said today that there.
BURMESE NAVY GOES
INTO
ACTION
Rangoon, August 19.
Burmese navy, craft shelled both river banks of Wataya village,, 25 miles, north-west, of- Ran- goon today, inflicting, "heavy, casualties" on rebols who have been holding out.thors, for nine days, said an afficial communique. Burmese planes swept in and Rice milling, recommenced al Jachine-gunned the area from Bassein rien centre, 90 miles low-altitude said the come from-Rangoon, which tell into akue. reporting that today's rebel hands, a fortnight ago, 11 tack resulted in the heaviest way officially announced today. everse yet suffered by the re- els in this battle.
Wutaya village. Is belloved to e the main headquarters of the
Ind the navy is now
are
pre-
Normal conditions. vailing at Barsoin, now cloured of rebel elements, and several hun- dred tons of rice are being sent
to Hangoon for overseas shipment.
troops
Arc
Fiscal ofeinls said such a eur rency plan for Chína, "probably. would be
a step. In the right direction," but doubted if it will solve China's, currency problems.
Officials. here held to the view that boalc. Issues In China's depreciating.. currency are an unbalanced.. budget, and the unbalanos in her Interna. tional payments.
Behind, these hues is the civil
war which is taking an estimat ed 8 per cent of the Chinese budget and, causing further bud- get deficiencies.
FILMS COMPETING FOR AWARDS
Venice, August 19.
The world's best motion pictures competed herg, to
day for awards in the
a
Great Britain drew the hon- The State Department said our of opening the ninth inter-
national during, Congressional hearings, on
cinematographic art the ECA-China aid programme show with "The Red Shoes," that silver might be a desirable technicolour adaptation of Hans metal bucking. for Chinn cur- Andersen's fairy tale of a Bal- rency, It said such a backing let girl and her bewitched would require large amounts of dancing slippers. silver.Reuter and Associated. Press..
India's Signature "Valueless
Sardar
In afternoon and evening per
Two formances during the next weeks, a total of 40. feature films -will-be-presented-by-13. nations,
Venico film fastival,"
Among the documentaries Britain's "Atomio Physics."-
A jury of nine Italian artists, wil volo critics and Journalists one grand prix. international of Venice, cight other icatures awards, and six documentary and shorts prizes after
final showing on September 4-Asso- rinted Press.
the
Russians Meet Resistance
BRAATHENS
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The party, will, leavotar. Hol- Iand on Sunday, September ·6,--|-* Associated Press.
West German Assembly
Wiesbaden, August, 19. The West German Constituent- ||Assembly-will hold its fíraty moete ing in the Rhine University, town of Boon, in the Brilish Zona on September, 3. to approve, as Cona- tilution for the combined, thros Western Zones.
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Representatives of the Allied Military. Governments, ' and Catholic and Protestant clergy will attend.
The Minister Presidents, of the PO Box 783. West-German - States, who convening the ·Assembly;... Bre two hounced today that on, the preceding days they will meet at Niedorwald to approve the first instalment of the presars rangement of the State - boun-- duries.Reuter.
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documentary Some 50
films will also
special compete for honours including reals. from Palestine, India. and 13outh Africa. | In all 16 countries representing all the world's major film pro-
Berlin, August 19. Trurkhals, Kashmir,
The Social Democratic Coun enegado union milltary police
ducing nations except Russin, are ho mutinied and went over to
August 20, entered. Over 100,000 metres of cilors of Berlin's Central Bus!-
Zeist, August 10,- Meanwhile, Irrigation dens at
Mohamed Ibrahim | film will be shown representingness District boycotted today a he Communists last, wook,
A possibility, that. Bix: John four places in the Shwebo dis- Khan, President of the "Free productions of Britain, the United Borough Council meeting called The communique said that four
on Fosters Dulles may become: Uni- States, Austria, Went of avy vessels participated in the trict, north
Mandalay, Kashmir Government which Mexico, Poland, France, Switzer emergency housing
Germany, Italy, to discuss a Russian order
ed States. Secretary of Stata to ombined land, air and river ave been
destroyed by Insur- now has its headquarter, here; land, French Morocco, Argentina,|
day brought deferment. In the Lack. The insurgents were mown adding that
gents, the unnouncement xtted.
rebel
This first example of the Social-election of vice-presidents for the. today, declared that his Govern-belgium and Sweden. awn be sweating planos as they being routed by loyal, Burmese ment could. "not accept India's
Democratic pusalve resistancer to Commission of Churches on in- led to the jungle for shelter;
Among the America films are the Russians during the present ternational Affers. signature--as having, any moral Louisiana Story" and "Double crisia moant that the Council The commlision Two naval men were wounded soldiers-Associated Press.
: prepared the Life" value in a cease-fire pack.
which will be shown on could not form a quorum patrolling
and agenda yesterday for discussion The faith of India, must be Friday, "Duel in the Sun", "Big the meeting it was, postponed of international problems at the
Clock" "Gentlemen's Agreement, assessmi in the light of her past The Treasure of Sierra Madre
World Council of Churches con- The Russians, two days ago,,ferenco observance of pacts before" wo,
Amsterdam next and Walt Disney's "Macbeth" enter into a cease-fire · agreement "Melody Time".
summarily dismissed Robertweels:
The commission agreed upon with her." he said.
Riedel. the Social Democratic | "India" approached 119
Britain's "Hamlet" and head of the Borough Housing Dets memberse comprising 30 for a Karachi, August 19.
from countries Pakistan has agreed
March agreement on
France's "La Batrille de l'Eau partment, for zabotaging Russian representatives to allow case-fire Czechoslovakia to set up a net-
20. The regotiations reached a
Lourde (Battle of Heavy orders for the repair of bumb-throughout the world:-United work of 13 light engineering far-stage when we on our side, or Water) are, among the others damaged bulldinga Reuter tories in Pakistan., Czechoslovakia dered a cease-fire on- all fronts. will provide the onpital-ond run- The India.military-authorities, ning costs for about 10 years
Ilkewise, issued orders to their Czechoslovak
forces, operating in Kashmir. The technicians
order was, however, suddenly re a five-hour-baitin-with an out-i After training the Pakistanis, versed by, India on March 25, numbered, polider foros. The they: will-- hand over control, of:).. “We must, therefore), ask for rebale solzed all the ride, took the industries to the Pakistan something more than the mere
word' of India:"Router
hs. arco, the communique, added, Burmese planes also machine junned motor vessels and steam aunches Retzed by the rebein- at place 16 miles south of Bogale, mportant rico-contre-im-the-dellari Je communique announced. Many Iver craft were sunk, it said.
Rebel Success.
It revealed that 400 insur genta
seized Maulmeingy while another large delta, town, after
In the fovencal
· CZECHS AID PAKISTAN
wilt man the factories.
Government-Reuter.
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