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DEVALUATION
Washington, September 19.
American- bargain hunters soon may find British tweeds and Scotch whisky marked down 30 per cent but economists here warned today that it won't happen overnight and it
may not last.
They said the announcement by the Chancellor of the Exchequer, Sir Stafford Cripps, that the British Pound needed a cut in value from $4.03 to $2.80 is only a temporary: cure for what has developed into a long-range headache.
India Wants Foreign Scientists
London, September 19.
الفين
forced to
the
Vote Of Confidence
21,
Valetta, September 19. Dr. Path Boffa, the Prime Minister of Malta, was given a vere of confidence in` Par- (lament tonight by 24 votes to seven.
Mr. D. Mintoff, who resign- ed from the-Cabinet during the recent talks on Malta's economic problems. walked out of the House when the vote WHE taken. Labour sympathisers left with him.
Seven
Nationalist members voted against Dr. Boffa, who was supported, by the Deme- cratic Action Party and the Goco Party. Dr. Boffa had asked for the approval of his action in withdrawing the "ultimatum" to Britain dur-. Ing the London Reuter..
tall
PAKISTAN VIEWS ON KASHMIR
London, September 19.
PRESS REACTION
TO
POUND DEVALUATION
Step Caused By Sheer Necessity
London, September 19.
The newspapers of many countries today gove prominence to discussion of the international effects of Britain's action in devaluing the Pound.
Comments quoted in Reuter despatches were as
follows.
veteran Socialist minence in Dutab newspapers to- Paris The leader, M. Leon Blum, writing in day. Comment was limited,
the Party organ, "Le Populaire," declared; "The devaluation ex- ceeds even the rate that the most ardent champion of devaluation expected"
The anti-revolutionary. Con- servative paper - "Trouw" wald that devaluation
the
Dutch quilder will soon follow. Unions la "Turmoil"
GERMAN
CABINET SQUABBLE
Boan, September: 10. The new German Republic first Cabinet is still incomplete because of political bickering to- night, less than 24 hours before the first meeting.
Two separate squabbles delay- ed formation of the thies-party right wing coalition Cabinet
The Ministries of Interior and
*** Agriculture
allotted by - agreement to the CDU and its Bavariar wing. the Christian So- cialist Union (CSU).
But up until night in a joint party caucus, they had been un „able toʻ agree
themselves Binong The Liberal "Algemeen Han- on the nominees."
Dr. Adenauer pledged today deliblad, which issued a special that his Western German Govern-
and also earlier and suggested that Hal-ion of a Whited States of
bitter
between
It said that one effect would be to increase the difficulties of the económic Holland, Belgium and Tarxem- bourg under the Benelux plan-
He termed federation as the only guarantee for Europe's peaceful érvelopment
Dr. Adenauer, recently-elected Eederal Chancellor of Western Geary, pledged his Govern- ments support in a telegram from Born to the European Parla mentary Lian opening its third Compress in Venice today.—Asso- ciated Press.
Dr. Edwin G. Nourse, chairman of President Truman's Council of Economic Advisers, said the big question Is how long British manufacturers will be able to sell low prices and still! at the new meet the present production costs. The benefits of devaluation
M Bhum said that be had The will be largely erased if the Bri-
beim surprised by the way Sir Lish producers are
Stafford Cripps British Chan- rellor of the Exchequer, had restore higher price tags on the Sir Shanti Swarupa Bhat-roods they sell in the
United |
changed his earlier opinion that edition, regrested that devalua nagar, who has been collect States and other dollar arcus
a change in the ponse-dollar falttien had not been brought about went will work to the utmost for ing workers and equipment for he said. the research laboratories With
manner in lant's living standard was at more dollars flowing into
Two letters giving the Paki-ld be undesirable,
the unilateral Ly being erected in India by the Britain, the British can buy things stani views on the future of which the change had been made. present too high for its purse.
need Government at a cost of 20 they
United Kashmir were published in the
Times
correspondence coltamus. "On the morrow of StrasbourE million rupees, said in London States. But if prices rise again
---and economists here said they One, which was signed by Mr. when European solidarity is be tonight that India wanted the
well might if British labour S. D. Khan, President of the Lox-ginning to be sketchet in roughly aid of the world's leading damours for more wages to carrer dan Moslem League, criticised the an unexpected and redoubtable scientists and did not Care somewhat the higher living costs
admission of the Kashmiri re argument has beca given to the what nationality they belong resulting from devaluation the presentative to the Indian Con- sceptics. I feel a somewhat ed to.
situation will return to its pre- sut
London commentater in stituent Assembly and said: "The regret on realising It," he wrote.
the Conservative "Daily Mail sent stalemate.
questions of framing the future
The right wing newspaper Leslie Randall, said that the e news Sir Stafford used a British-constitution of Kashmir and of made motor car as an example the participation of its represen- "Epoque" expressed the opinion of the devaluation had already tatives in the framing of the that devaluation of the French caused turmoil in the trade union He said a British car which was
constitution of the Dominion to franc and the Italian hira will be movement and that an emergency sold in New York previously for $1,200 plus taxes will cost only which they accede can obviously markedly inferior to that of the meeting of the General Council the Trades Union Congress $840. That should put a lot of arise only after the issue of the Pound,
10 accessions Americans in the market for Bri-State's
Pakistan has been
The left wing Socialist organ2F be called. determined."
The Labour *Daily tish cars.
But if the British workman} The writer also criticised the "Combat said: "It is
Sterling had been cecides statements of Pandit Nehru, the that the devaluation of the frame editorial said that the who makes that car
Indian Prime Minister, and others will be accompanied by a change cause the Government was deter. that he needs and manages
of exchange mined to maintain full employ- to get a raise to buy things be declaring that Kashmir would be in the mechanism of India.
rates,
ment. wants or needs, the New York part price will be forced up again. If it goes up too much, Ameri- can buyers will lose interest.
Real Test
Devaluation will also
mean American exporters will have to work harder, to sell in Sterling areas. Consumers in those areas will have to pay cut more Pounds for United States products which will increase their sales resistance proportion stely.
Dr. Nourse said
it may take some time for the devaluation
"American, British and Swedish scientists have already been en- gaged and have gone to ladia,” be told the Frees Trust of India.
нуде are concentrated on re search in industry. agriculture and defence. It is imperative that the standarri of living in India; should be raised and this cannot be done without science.
**The fact
the Prime Minister, Pandit Nehru, is at the bead of the Scientific Research Organisation shows the im- portance he and his Government attach to it."
Hat
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MINIMUM-ORDERS-20-LES.
The leader of the Indian dele- gation to the United Nations
and Cul- tural Conference. Sir Bhatnagar dies home to India on September 25.-Reuter
Swedish King Ill
Stockholm. September 19.
King Gustav of Sweden, who is
and general weakness, it was en- nounce today.
The
that
India
DI
He said: "No one can quarrel with the right of Mr. Nehru and others to forecast the result of the plebiscite according to their wishful thinking, but unfortun ately they appear to be beat upon presenting the United Nation Commission for India and Paki- stan with a fait accompli by
Fixed Rete?
believed
"The present system of mul- tple exchange rates will be abrogated and replaced by a single Яixed exchange Tate, probably of about 330 francs to the dollar
delaying the eventual nothing a ""Aurore" "(right wing. Radical) (
a free and impartial
of
The other correspondent, the Landon editor of the Karachi paper "Dawn," also criticised the Kashmiri representation on the Constituent Assembly.
As
Herald" Pouzd devalued best
Turn In Tide
Appeal By Catholics
In Austria
Vienna, September 20. The Austrian Bishops today appealed to Austrian Catholics to vote for the Right-wing People's Party- in the October general elections.
"We believe that the nation) will endorse the Government's decision, recognising that the
In a pastoral letter publisher only alternative would have
the here,
Austrium episcopate of been wholesale -depression
In view of the far reaching the standard of life," the news,
importance of the forthe rang paper added.
wrote
in the general elections, which may de- said: "The operation should be
and the fate of welcomed as being fairly widely Liberal News-Chronicle" that the ride the future profitable to French commerce cay when the Pound Sterling Austria, it is a duty of conscience and Industry. But on two condi- ceased to be linked to gold in for every Catholic to use his Commit 2
Lard
Layun
tions: (1) That the new rates of September, 1931, and
Bring that anyone abstaining
exchange be solidly guaranteed; abandoned the long-drawn-out
voting would Catholics not to vote for any
He said that Kashmir consisted Jamrall. Pootreh, Gilgit, Ladakh (2) That we play our part in the effort to maintain an unduly high 91, is suffering from bronchitis to be reflected in cheaper domes- and the Vades of Srizaga. Most vast effort of international re-rate of exchange, marked a turn severe sin the declaration fold lic prices for British-made goods of the original Moslem inhabi- covery, by putting our own affairs in the tide of the great depres-candidate whom they believed For on thing other Sterling tants had been driven away from in order, cutting our public ex- sion between the wars.
would not guarantee the main- It Sir Stafford Dr. arez nations must follow suit Jammu King's
Cripps's physician,
West Dense, genuinely balancing our refugees to
tenance of Catholic principles Hjalmar Careerman, said:
The
Some of these nations may not Punjab.
State budget and lightening the economy programme was carried King will not be able to take part reduce the value of the cur The writer, said: "The ques- burdens crushing enterprise." out with vigour and without Stating that Austrian freedom
willcre are at Stake, in an elk mint that had organ-
an- rencies as much as others because
tion of the future of the Valley
closed with the regard to political pressures, the pastoral letter York The Herald- same might prove true of the pre- slogan: ised for King Frederick and
is the focal point in the dispute." Tribune" said that the British sent Prince Axel of Denmark and for
decision on devaluation, Catholics vote for Catholics." mer King Michael of Rumania
Cabinet acted boldly and de- Lord Layton added--Reuter. --Associated Press. tomorrow.”
clsively in, devaluing the Pound.
When he opened Parliament in January this year, King Gustav was carried on a stretcher be- cause of indisposition.
they have shakten down their money more since the war.
Dr. Nourse said the real test of Britain's action will be whe-| the that Government is able to: balance its exports and imports, and England's future pricing and selling policies will play a big
In March he went to Nice for a part in that decision-United two-months spring holiday on Press. the French Riviera-outer.
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BRITISH - RECORD
New York, September 15. Eritain is building nearly half the chips on order är under con- struction in the world, against cnly 4.8 per cent by the United States, a survey the National Federation of American Shipping showed-Associated Press.
---Reuter
BRITISH ENVOY
London, September 19. Mr. Patrick Stratford Scriven er, Deputy Commissioner-General in Souh East Asia, has been ap- pointed Minister in Berne.
Mr. Scrivener, aged 52 suc cecas Mr. Thomas Maitland Saow, who is retiring. He be came Minister to Syria in 1847] and was appointed to South East" Asia last year.
Earlier he held diplomatic posts at Warsaw. Cairo, Budapest, Addis Ababa, Angora, Rome and Lisbon-Beuter.
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"The Atlee Government yield- ed to sheer necessity, but de- Valuation alone is not the answer to fourshing export market."
The newspaper added that some hardship would
result for Britons and their self-discipline would once more be tested to. make devaluation effective.
Not Substitute Measure
The "New York Times" said: Devaluation is ncy aimed pri- marily at solving the contem- porary equivalent to the 1931 gold standard problem-the flight from the Pound"
Nehru On Peaceful Kashmir Solution
Ambala (East Punjab), September 19. The Indian Prime Minister, Pandit Nehru, said here today that India would, for a variety of reasons, prefer Kashmir to continue to remain with India, but the final decision could only be made by the people of Kashmir.
draw our forces."
the
Mr. Nehru, who was addressing "Hence our insistence on the It could be fatally foolish to a press conference before his de- disbandment of the so-called Arad Ase that devaluation is in parture to New Delhi, added: "If Kashmir forces before we with- you clearly examine all the com- any sense's substitue for the mitments we have made during drastic re-orgaitisation of Buan- the last one and a half years and cial and economie policy needed the resolutions we have accepted, forces would be disbanded was to solve or even reduce the we always have laid stress on two dimensions of the dollar pro- facts: blem” the zewspaper zaid.
Declaring that an assurance to the effect that the "Azad Kashmir
taller
their with the Government of
given by the United Nations "Firstly, that the decision of Kashmir Commission in The New York Journal of the people of Kashmir must final- India last year, Mr. Nehru added: Commerce" said that the de- ly decide the one and we shall "That is why a question like that valuation would benefit American accept that decision, whether it is not open to arbitration because businessmen, but it would give is to our liking.or notk them. afrong foreign competition "Secondly, that we are going problems:
take no risks and lay pen the The Hague Sterling decountry to an unscrupulous in- valuation got front-page provader.
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germente again
ta
that involves the re-opening of something that has been settled by an assurance to us, and be- cause it involves our own assur ance and honour...
"Nobody is going to, arbitrate where cer-honour is concerned. Generally speaking, as we bave made it clear that we are not opposed to arbitration in prin- ciple, but arbitration must be on specific points which do not in- clude questions which we con- sider as basic and settled and in-. volve our”, oan assurance and
gülte welcome any attempt at arbitration."
Vid from that we
4.
Stating that, India's case in the dispute with Pakistan on :: the question of the canal water of Punjab rivers was a good case, Mr. Nehru said:
to
“We have "offered repeatedly the Pakistan Government to Pakettič 11 by mutual consultation, But our experience has been
Government
that it is very diffe
difficult to deal with the Pakistan Gov
on such matters
"They do hot wish to comment themselves, and
and if and when any commitment is made it is un- made Jaler,
I am prepared to say dennite- ly on behalf of our own Gover- ment that we do not want to sel te any matter between India and Pakistan by the sword."
**We are prepared to submit to any peaceful method
። Asked about his forthcoming visit to the United States, Mr. Wearu said that he was eagerly looking forward to fl-Beuter;
1.