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DEATHS
CHAR KYUN CHAN, Consul for Korea at Hong Kong, died 1 the Hongkong Sanatorium & Hospital at 1805 o'clock May 11th 1949. Funeral arrange- will be announced iments later,
KENNETH A. MASON of Jardine Matheson & Co., Ltd.. pener- fully at 120 The Peak, after
Urief liness, on Wednes day 11th May 1949, age 40 Funeral will take place at the Colonial Ceme- fery, Happy Valley today at 4.30.
years.
BRITAIN'S TRADE
Opinion in Britain has been debating for some months whether inflation or deflation is now the greater danger. The first signs of a break in the postwar boom were taken reflections of the only BS American decline in prices and activity early this year. But since then, the Stock Ex- change has had a sharp shake- out, and retail trade has dropped heavily.
The abolition of clothing rationing brought out no spending rush, and complaints from business firms of grow. ing difficulties in the export markets have been given wide publicity. It is true that re- cession talk is not borne out, as in the United States and some other countries, by in- creusing unemployment. On the contrary, unemployment is lower than ever before at 360,000, or about 1.8 per cent of the total insured popula- tion, and most of these are either elderly people, difficult to employ, or short-term un- employed in transit from job to job.
The pessimists say,"
of course, that a recession can burst out overnight, and that next month's figures will show how bad things really are. But they have been say-
for ink that
exactly 12 months, and have so far al- ways been wrong. Every dip in home or export trade has proved to be temporary, and every decline in business in any particular trade has been promptly absorbed by expan- sion in other industries. The debate has
nevertheless grown in strength.
THE CHINA MAIL, THURSDAY, MAY 12, 1049.
FRANCE'S TREASURE IN
GARDENS AND
Without Him There Would Have Been No Israel
By Nicholas Carroll
When the members of the Provisional Council of the new State of Israel olected Dr. Chaim Weiz- mann its first President, Mr. Ben Gurion, the Prime Minister, said: "I doubt whether the pre- sidency is necessary to Dr. Weizmann, but the presidency of Dr. Weizmann is a moral nocos- sity for the State of Israel."
No reader of this 74-year-old White Russian Jews's lengthy ac- count of his rather complicated existence could deny, that but for him there would be no State of Israel today.
Born in a small, poor and damp village near Pinsk, in the marshy reserved by the Czarist province Government for Russian Jews, Weizmann became one of the vast band of Russian and East Euro- Jews who have wandered. pean Westwards in search of education and the promised land.
At Berlin University he began hin studies in chemistry, and for the rest of his life te had Bttle in affairs outside that und interest Zionism.
Berlin-to-Switzerland, and then
At the age of 30 he went from The deliberate and desperate -to England, where he chose
words were: Well, Dr. Wen mann, we need 30,000 tons of ace. tone. Can you make it? I was so terrified by this lordly request that I almost turned tall."
FIELDS
From Kenneth Thorburn Hoarded gold buried in the gardens and fields of France is belioyed to amount to more
than 4,000 tons-enough to make the franc the strongest currency on earth,
And if it were brought out, the Banquet de France would be the only establishment of its kind to hold three times more gold reserves than it puts banknotes in circulation.
Good Morning
Something on the lines of that bardie chuir might sult the Mayor of Hung Kong-when wo get one.
Chinese commanders' strong- points are often just built to bo bargaining points.
Russian scientists are to make produce The problem of getting these selling his
cheap and "zoological investigations" In Sak- Whats wrong with the back into secret treasureN
the paying high prices for his agri-halin. light of day is the biggest tuak cultural equipment. He ja iving types in Tokyot which still Inces the middle-of-under a false economy. -the-road Government of little Sponer or later he will have
Quillte. I is the
lo well that gold. Dr. Henri
The price is already going greatest headache of the Finance
Hown. Minister, Mr. Maurice Petsche,
Maybe this was the scheme at The problem has two aspects: (1) To get the rich peasants the back of the mind of the I-
bring
outtle 67-year old doctor who hands and businessmen to their inactive gold and sell it on the strongest government France
the war, confidence In has had since open market,
the
Let's
What Atom
"Near widow with two chil- dren wants smail unfurnished Bat Call...."
How is the old boy, anyway?
To Hungarian
Cominformist
pencillin paid pawn of Imperial- ist, pouti
Hix resemblance to Lenin has the franc must be brought back. wish him and his finance minis-Rakusi. Tilo is nothing but a
To restore (2)
the absolute ler the best of luck. frequently caused him.some em-
On visits to Italy confidence necessary for this, the barrassment.
Government needs
the gold first. before World War 11 he foun
circle? A viclous
Maybe on his footsteps were being dogged
Queuille and by policemen, and it took a lot the outside but Dr. of time to persuade them he hat Monsieur Petsche, following
French in time-honoured tradition no connection with Lenin,
three times.
found He met Mussolini
ព compromise palities, Teeled "He
me affably solution. It may prove to be the enough." he recalls, "shook hands remedy that will cure the ailing with me, and after the usual ex- franc.
When previous Governments change of politenesses led off with
Dr. appealed the remark: You know, Dr. the
not all Jews are Zion-seci Welzmann,
French for
Manchester for what he calls his it too badly but did not take who had carefully
sent their
Miners Find
Into the headquarters of the Mineral Resources Bureau at capital to France ton, London, a queer assortment brought back to be course, I know it only too well, they were met by derinive smiles of "valuable" rocks is delivered Ists, to which I replied secretly invested in foreign lands the Imperial Institute, Kensing- und not all Italians are Fascists. from those powerful businessmen almost daily from prospectors
heir and minera in the colonics. He smiled
Some amples are wrapped in old shirts or word car tyres whatever was avaliable at the time of the "find." Ninety-nine
out
100 of every apeelmens prove to be mere rubble. But," says the chief of the In
stitute's mineral
Intelligence aeclturi, "we do not discourage there 'discoverers","
Then
when he But Paul Reynaud, was Finance Minister, said that there were at least 4,000 tons of gold in France alone.
money abroad when they fore- The book throws an interesting saw the collapse of the franc. In place of exile,
on Brigadier Wingate's His 12
in Manchester, light years
of gold were declared. studying and teaching chemistry, career which ended tragically in months, only about 9,800 lbs
After
Abyssiniaa French gold in London was re- making, his first impact on Eng- Burm.
the lish Zionism, and rising slowly campaign, Wingate was ill and ouisliloned, with the approval of
to a comfortable was later put in change of a home from poverty
the British Treasury, Yield: 18 the help of his training unit as he was thought tons. Profiteers begun to sit up position with Lifted wife were regarded by hum too unbalanced to command men uneasily.
the brightest and warm- in a responsible capucity us one est periods of his life.
Wingate wrote to Welzmann, He was so poor in the days of who put his case before
Lord that his marringe he marked order, 'asking him to testify to Council to examination papers at a shilling the Army Medical
crown a time to pay Wingate's reliability and sense of and half off his furniture instalments. responsibility. Horder did so and
vas in Manchester that he It was
before long Wingate was on his his met for the first time Sir Arthur
to India way
to organise Schuster. Lord Rutherford an-1 Albert Einstein. He bears Man- chester only one grudge-that the University did not give him a full professorship.
"Churchill Fascinating"
Dr. Weizmann's subsequent travels in Europe, Amerles and the Middle East brought him in fouch with many prominent statesmen and politicians,
During the first world war he went to London at the Govern ment's request to work on chemi-
for use in explosives.
Orch, 1016, he met Winston
Ιπ Churchill at the Admirally.
"Mr. Churchill was brisk, fas- cinating, charming and energetic,"
writes. "Almost his
he
Arst
ments; in some markets the restocking demand of the post-war years is obviously finished, and demand must
Chindits for the Burma campaign. Wingate, Dr. Weizman discloses, had a consuming desire to lead a British army into Berlin,
"Brutal Bevin"
Dr. Weizmann is bitter about the hostility or frosty neutrality of the British representatives in
New Scheme
Little' Doctor Q and Monsieur Petsche worked out
new scheme
a
At great initial cost, they asked the cautious Frenchman to Invest his money in a new loan. They offered the most generous condi- tions. Old '3 per cent bonds could be exchanged for the new ones, which paid no less than 5
You could get per cent. bonds
the
Nigeria Hopes
The encouragement is likely to ins crease following the announce ment of the great Empire hunt for atomic metals.
A
special handbook now being printed by H.M. Stallonery Of fice, will be sent out soon to the Colonica for prospectors and miners,
Meanwhile, Nigeria, our biggest
richest
The Lee-Labmír Party depre- cntes the Government's Far Eastern policy. And with_cloc= tion time getting closer, it's the te leeks that can sink the big Socialist ship....
my
Said Bob Hope: "Today
103,389
Umes, my heart beat blood travelled 168,000,000 milles, breathed 23,049 times I inhaled 438 cuble feet of air, spoke 4,w 800 words, moved 750 major muscles, and I exercised 7,000,- non brain cells. I'm tired.“
America's foreign policy a130+ elation expertess reports. that be used ECA can
to bring genuine liberalisation to Franco'a regime. Existing air buses, sho says, are generally poor...
Nothing like a few. genuine, liberal air bases, et, Miss Holmes?
*
Tung nut growers face bank- that's the thi- And ruptcy. Varnished truth.
Motto for any Nationalist Gen- ral: "Better to be first in a vil age and sickened at home."...
may become Britain's
Seems like the Municipal source of atomly energy Council Idea turned out to be s U experiments taking place just, muyor's nest. uutaide London are successful.
Palestine between the wars and to bearur name, or made out Teams of atomic, physicists9 RTC
opposition to bitter, too,. about Zionism from rich and prominent
Jews.
is
But his anger against Mr Bevin strongest of all.
their suffering want to get 100
100 tor o
slacken from now on. Finally, tacts with Mr. Bevin have been prunť“ thingle nouvel em:
Britain's exports are going to meet increasing competition from other exporters, parti- cularly those of Western Europe where Marshall Aid
One school of thought be- is restoring productive capa- | quarrelsome approach erbearing profiteers, yes, but mostly they
lieves that one should pre-city. pare in good time for large scale adjustments when the buyers' market gets really un- der way. The other school believes that there is no rea- son to fear any decline in the aggregate demand for goods from Britain, so long as the economy is flexible and can adapt itself to changes. They hold that Britain's productive system is still over-strained by excessive demands due to inflation, and that general ef- ficiency would rise briskly if the pressure of demand was reduced to a more reasonable strength.
who at
**
A Bonn dance does not neces- striving to prove that a metallic clement called thorium, limitless sarily mean abundance. quantities of which lie deep li Nigeria, is just as valuable as uranium, the baste raw material used today for the development of atomic energy.
Bevin thinks the real key to peace is "to get Europe settled for a couple of hundred years." Ernie should have his Boswell with him to write down such profound thoughts, for posterity-if there is any a couple of hundred years A.B. (After Bevin)..
In Gas Mantles. News of these experiments was givon by the chlof geologist, Atomic Energy Division, of the Geological Survoy of Great Britain, which is directing the io ilfe. search for atomic metais. Thorium ores, used for many year, to provide the incandescent ele- mont 343 the household gas prepared to challenge at the mo-i
'The kidneys are indispensable
But wo can get along with only one,so long'as its part- ner is able to function."
That is a statement I am not
may assure a vast now ment. Importance as a result of thes experiments. Thorium is now believed
to be passing through the same phase that uranium did prior to 1041 The substance in demand hon was radium
Almost Useless
has greater potentialities than uranium, the foverish world search for this radio-active
mineral will continue. The booklet, to be sent to
Colonies, illustrates how and where to look for uranium and thorium deposits.
duties. Dr. their money, profitably and safely· Uranium wus regarded as an at-Grned to detect and
'Successful Step
0
And this was a concession to illicit profits-no questions would be asked as to where you got the money. It was
the 'best deal' since the 5
Honduras per cent. After Bevil, in November, 1945. loth of the pre-1914 days, had issued the Government's de- Financial experts shook their claration of policy on Palestine heads. It was a ludable attempt a reversal of what had been pro-the best since veteran Socialist mixed by the Socialist leaders leader Leon Blum decreed over- earlier-he said at a Press con- night that all prices would be cut ference: "It the Jews with all by 10 per cent--but would Doc- Qget the £95 million he ask- much at the head of the queue ed for? You have
the danger of anti- The reply came swiftly. Within Semitic reaction through it all." a few days popular enthusiasm Dr. Weizmann writes: "I thought mounted, grew into a tremen- the remark gratuliously brutal, dous wave. in little bistros and even coarse, but I cannot say it enfes, on street corners, talk cen surprised me. My personal con- tred
(the new loan). The unfortunate. His tone was hec some question was on everybody's "I've subscribed-have toring.
"There was (on another occa- you?"
Queues formed outside banks. slon) not the slightest effort to
our point of view: Queues. containing blackmarket understand there was only an
were the small
people, On his.
is way to Palestine to take last saw a chance of investing In the dollar markets com- up his Presidential
In a week, Welzzmann had originally intend- petition will be keener than ed to come to England, but he felt remedy was seen to be working. Doctor Queulilo's anywhere because it is not unable to do so at a time when The amount asked for was cover- only Britain that must earn the ideals of Israel and the polled and money was still pouring After the deadline for sub- more dollars to pay fully for cies of Great Britain, under Mr. in.
were brought scriptions had been reached, Mon- American supplies when Mar- Bevin's direction,
slour Petsche stood up in the shall Aid ceases. Yet the Gov- into bloody conflict.
National Assembly, ond in ernment Survey states that,
triumphant voice confirmed that in the light of all these trends, is still regarded as the main that loan was covered by a mar- it is realistic assesment to enemy. The Economic Sur-gin of 3 to 1: expect a steady expansion of vey carries throughout the exports from 43 per cent familiar theme-song of Sir above 1938 in the second half Stafford Cripps: the evils of of last year, to 50 per cent inflation must be fought by above 1038 in the first half of restraining home demand, by 1949, and 55 per cent by the keeping down wages and end of 1949. These percent dividends by personal savings ages refer to real volume after on the part of individuals, and Out of the mass of facts and discounting changed money by "forced" saving on the part figures which the Govern- values. In short, Government of the Government. ment economists have assem-policy is based on the firm ex- The optimism about the of the available spare bled in the now familiar
future level of business at "Economic Survey for 1049,"
home and abroad is not, of one fact stands out. All Bri-
course, matched by any illu tain's official plans and pro- In 1948, almost everybody sions about the serious dis- grammes are based on the
was proved wrong by the fact location in Britain's foreign confident assumption that that Britain's total production trade. A good deal of pro- there will be no trade reces- increased unexpectedly by gress was made in 1948 in in- sion this year. In forecasting £1,000 million. Something' creasing the exports to the that the volume of Britain's like one-half of this was used (Western Hemisphere and re- for the reduction of the over-ducing imports from there. exports will continue to ex- pand, the writers of the Sur- seas trade deficit, while capi- The gap in transactions with
top of this has come a sur- vey have already made allow- tal investment at home took the Americas was reduced prising downfall in agricultural ances for the difficulties about £300 million more, and from £655 million In 1947 to prices. Mk, butter, vegetables, which the current turn of the only a fraction went into ad- £340 million in 1948, and in cags, crowd up barns and country commercial tide towards a ditional consumption. In the first six months of this markets. Eggs have gone down
to one third of their price. buyers' market is bound to 1949, with the entire popula- year it is expected to be 2115 village they sell them 13 to the
believe cause. They
that tion at work, only a slight million.
In the cities, prices are these difficulties will be over- further increase in production "The dollar deficit," pro- still high, but restaurants---who is expected. Most of this in claims the Government Sur-buy wholesale-are giving larger again to go into additional vey, remains the crucial proportion of food
Government atill has to exports, but any unexpected blemi." A great export drive co-ordinate the relationship bo bonus in the national product is being whipped up to extween prices paid on the farms. will be allowed to find its way.pand dollar earning sales, and these asked for in the town'
Train into consumption rather than barticularly to the United-otten 10 times higher. sinto investment.
States and Canada. This means the culling out of innumer- Some slight casing of aus. turnabout in the flow of Brk task, but the end of ration
able middle-men. It is a long imposing import restrictions terity for the British public tain's exports is now becom-will help. on consumer goods because of, is held out as an Coentive to--ing-the-koy.. slogan for 1949 Meanwhile, the peasant the
man with the hoarded gold-a.- strained · balances -of-pay." special efforts. But Inflation bustness.
come.
It is true that some products which could be exported in all greater quantities are limited in production because they cannot get enough labour; it is equally true that more and more countries are
pectation of another boom year for British production and exports.
:
.was
Step Number One was a suc-- cess Dollars, pound notes, and Swiss francs came tumbling down on the currency black market. why pay 550 francs for a dollar or 1,800 for the pound when there much money rolling was that. about in France? Besities, most
ro cash iled up in To nouvel emprunt. And the almighty dollar alipped so fast it made speculators dizzy. From an all-time high of 385 to 300 francs in little more than month. The pound came down to 1.180-barely 130 francs abovos the oficial rate. Tauts on the Place do l' Opera or the Champs- Elysees were desolated. "Sorry, we cannot buy anything. Mon- wants foreign currency," slour," they walled. "No
dozen.
ong
most viseless by-product in, the recovery of radium. Today the position has been reversed, al. though radium will continue to Until research shows that thorium
be of great valute in therapy.
counters, Instruments
the
messure.
radio-activity, are being expert ed, but until there are suficient, prospectors are asked to uso home-made methods of detecting radio-active minerals.
PLYMOUTH GIN
THE NAVY'S CHOICE
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