CHANCELLOR DEFENDS DEVALUATION MOVE: EFFECT ON EXPORTS
ערד
RETURN OF
14
London, September 19.
Sir Stafford Cripps, Chancellor of the Exchequer, said today that Britons must redouble all their efforts to export goods now that the Pound has
cheapened.
HONOUR A Reviewing the results of the Washington dollar BIG NEED
Paris, September 19,
Dr. Sarve ili Radhakrishnan,
talks, the Chancellar told a news conference: "We agreed to create, appropriate incentives to export to the dollar areas and make a vigorous attack on production. Well, we have created the incentive all right."
Chairman of the United Nations The Pound is now officially worth 2.80 dollars com-
Educational, Scientiae and Cul-
toral Organisation's Excentive Board, today told
the fourth
General Conference that the Or-
你
canisation's great challenge was
to restore care for the truth and
a sense of honour among nations Dr. Radhakrishman, in addition to his UNESCO Post, is India's Ambassador to Russia,
Iri
Director-
presenting the General's report for 1949, he
pared with the previous 4.03 dollars. The British hope this will stimulate exports by lower- ing the selling price of British goods.
ton talks
solution of
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 21, 1949.
Eighteen Dead
In French
Plane Crash
Paris, September 19. Eighteen were killed today
In a French Air Foros Hall fax which burst into ames en landing at Brazzaville French Equatoris!
Qurica
One of the victims was Dr a. J. Stalznopodios, the chief yellow fever expert at the Pasteur Institute in 'Pařik- Stauber.
The
BORNEO STRIKE ENDED
4
PHILIPPINES NOT WORRIED BY CHANGES
Washington, September 19.
Miguel: Cuaderno, head of the Philippine Central ***Bank, said today that devaluation of the Found, and other currencies will not have damag- ing
don, flects on Philippines overseas trade and
economy.
"We have nothing to worry about as a result of these currency changes," he told the Associated Press.
"Our money is sound and peg- ged to the dollar. As long as it is" that way we are on firm kround:"
Cuaderno deprecated
Manila reports that the Islands' exports, especially fats and oils, might be hit by the cheapening currencies.
"On these two Items we have
was full recognition and several shops bad re-opened. 1. aren'
Batavia Indonesian Republicans
after today agree..
negotiations with the Dutch, to end the general strike that has paralyzed the Sir Stafford tossed out what aimed at a loss
South Borneo coast for 20 days, a two cents a pound tariff differ could be interpreted as a hint the dollar proble
Beliable Dutch sources saidential" he said. that the Labour Government The Chancellor declared that one-third of the Government en- "I believe that, and efficient intends to soften its attitude the whole point of the Washing ployees have returned to work production, will protect us from purchases in the Ster- toward private Industry:
in reaching As a precautionary move, howling "We realise that conditions that to succeed
of long-term solution of the dollarever. Dutch troops are guarding However, Mr. Clademe and said: "The world is faltering have changed in the matter
The Real need capital investment," he said, "and problem it must be regarded as dumps at Masinz, capital of South ciber Philippine delegates to the recent World Bank and Mone a joint problem requiring joint Borneo, the problems study of incentive and suitable environ-action.
contribution The greatest ment to capital investment."
this had been the arrangement The Labour Party has already. for continuing consultation nationalised such things as the
high level railroads and coal mines. It is in the process of taking over the iron and steel industry. This has made investors, particularly from abroad, wary of money in Britain,
We
and confused. is our challenge.
must that we must restore the scrupulous conscience, the care for truth, the sense of honour and beauty.
"Education, science and culture, respect for justice and freedom, there are the ideals to which directed the long march of man." Earlier be paid tribute to Dr. Jaime Torres-Bodet's outstanding personal contribution to the suc cess of UNESCO as Director- Geneal
Sir Stafford warned the British miracles not to expect export "UNESCO'S mission can only from devaluation:
to
73
Meanwhile, members of the
and
fanatic religious group of Damatary Fuld meetings conferred to fanatic: reported to have been day with Ambasadorizade Dan killed in the vicinity of Tasikoa erlazonetary situation.
West Java, as Dutch troops laya continued the drive to destroy them
we are watching the situa tion
Elshely," "but thus far we Benefit To A!!
The strike-was-broken-25 a re-. see nothing to cause us grave Sir
concern. about the lands Stafford saidi that the suit of an agreement reached be-
ecprtemic futore, Minister risking their United States, Canada and Bri-tween the Dutch. Resident, A.G.
Emile Abello told the Associat. and the Indonesian tain had recognised
the thet
Deelman
Lieutenant-Colonel coromander, Hasan Hasri, last Wednesday. He and other participants in Under the terms of the four-this conference declined, how- point agreement, the Republicans ever, to disclose details of the agreed to relax economic pressure discussion. on the area and end the general Mr. Cuaderno said: strike.
Depreciation of the Sterling The official text of the agree-areas currencies is favourable ment, released today. said the Re the Philippines. It means that publicans further agreed to end our purchases of rice, jute and their illegal tax system in South other Sterling area products will Borneo, cease hindering shipment cog less." of food supplies and cease Inciting government employees to strike.
United Press.
be fulfilled I governments and "I have never suggested any. national commissions whole thing of the sort," he said "I Un-think that in a period of time, heartedly play their part.
exports.
fortunately the activity of many we shall increase our member States does not extend That is fairly clear from the beyond attendance General reaction in America already."
Corference sessions.
#1
He said that foreign buyers "At the national level there is need not need any further cut in means of the Pound
a breakdown in the implementation of the programme
of UNESCO. This is an exceed- ingly grave danger to the whole future of the Organisation."
"Economic realities are more Important than political idee. togies." Or. Radhakrishnan added.
"The scheme for technical us sistance which is designed to raise the standards of living in
.
Capital Investment
Sir -Stafford said that the Government will probably cut Britain's spending for capital Investment. next year. The Treasury has the right to limit this type of spending and to channel it into such things as new equipment
Re evaded a question-whether the under-developed arcas of devaluing the Pound will force the world wil net only rebuild ja reduction in food imports from
world's but will shared ecczomy. America and Canada.
the
also contribute to peace- **The whole object of what we ful reconciliation."
have done is to increase trade
Dr. Torres-Bodot told the Con férence" "We are not merchants
of day dreams,”
on both sides," was his answer,
Sir
defended Stat.ord
his
He called for optimism over the Washington commissions to bring valuation of Sterling. the blue-print Confidently facing
a redoubled effort on the part of financial decisions. and the de- Pound Sterling and
nati out of
Satellite Nations To Be Accused
dr. Cuaderno sees these cur- rency developments as having little or no effect on the Paflip- pine gold-industry.
If we sell
gold to Sterling countries." he said, "we receive mare Pounds, but the basic-price remains US$35 an ounce. Addi- tional Pounds meas little to us." -Associated Fress.
Washington, September 13, The United States today served FAROUK VISIT notice on Bulgaria, Rumania; and
TO SPAIN Hungary that they would be ar- raigned before the United Nations
London, September 19. on charges of violating the human.
of Egypt will. King Faroult clauses of their World War rights SIR. STAFFORD CRIPPS
visit Spain in the near future, as II peace treaties.
that Britain the official guest of General the dollar
U.S. officials say were in a predominant position and France are taking similar Franco, Madrid Radio said to
steps. 400 in the trading world.
night Renter The State Department released stage." will not have it world newsmen he declared that He believed that not only Bri- |
text
of col- by devaluation the British Govtain but every trading country the
a note sent to Rumania erntent had provided the big would benefit from the decision and said similar notes had been to incentive to exporters which he made at Washington.
Hungary and Bulgaria. They dealt with the refusal of the Soviet sa- had promised in Washington Questioned on details of the
to accede to American de- commissions to consider treaty violation charges.
(UNESCO) regarded as a lection of symbols and illusions, he said.
He advocated an increase the rescurces of trained materivils and finances.-Reuter.
in
men,
British Ban On Strasser
London, September Otto Strasser, a former German right wing politician, who during the war took refuge in Canada, will not be allowed to enter the British Zone of Foreign Office spoke many, day,
said to
a
over
|
Sir Stafford said he had not Government's plans for cuttingands for the establishment of suggested that the devaluation dordestic expenses, Sir Stafford of Sterling would show an im-satt: We shall not be able to mediate increase in exports to rub on defence. We shall not cut dolly-countries but he believed the social services. What remains an increase would come in time is administrative expenditure and and that belief was borne out by we shall economise there where United States reaction to de" | ever possible”—– valuation.
Ultimate. End-
"We hope that the ultimate end of this will be a higher volume of trade from Britain and Europe to Canada and America and from them back across the Atlantic," Sir Stafford said.
This follows the creation of society in Western Germany nam ed the "Friends of Otto Strasser" and the revival of political activi- ty by Otto Strasser himself, who today contributed an article to a spending London morning paper
The British Government would do everything, it could to assist and stimulate private enterprise to go out after dollars, he said.
Associated Press and Router.
The United States charged that the religious and political trials in the three states. constituted violations of treaty obligations to volcom af speech, relia preserve.freecom gion and political association.
As for Rumania's counter-com- plaint that the United States had sought to impugn her sovereignty the note stated that it was mahi fest that the sovereignty of Ru- inania is limited by
MOSLEM'S TOUR, clear international
He declared that Britain would Baghdad, September. 13. cut neither defence
Chaudhury Khaliquzamau. Pre social DOT
Moslem services expenditure as part of sident of the Pakistan her economies
in Government League, left here by air today for
Teheran after a five-day visit
A that remains is adfuinis- He is touring the Middle East
Everything said to
was repeated to
to Bulgaria arid Hungary in separate notes! 10 them, officials said. Issues involv ed in the dispute include the trial of Cardinal Mindszenty in Hung- ary, the trial of Protestant clergy- men in Bulgaria, the trial of Opa leaders in Rumania and the:
The right to control the entrance |trative expenditure, be said.-to-see; whether, the "brotherly elimination of opposition Par
to Germany of former politicians
Sir
Stafford said he had feeling among the Moslems there
tics and press
United Press
will be retained by the Western Occupation powers after the Oc changed his mind about devalua is strong enough to weld them comes into forection on his return from his recent into a united: islamistan-Reuter
convalescence in Switzerland.
cupation Statute
with the formal proclamation of reviewed the position then or and realised that something had
to be done.
the West German Federal Repu bile-which is expected today or tomorrow.
Otto Strasser is believed in, of- ficial quarters in London to favour neo-Nazi "pelitical development of the new West German State---- Reuter
7
BANDITS TAKEN
London, September 13.
The dollar-sterling, problem. had been dealt with by tem- porary expedients, followed by a-series of rises; as each ex- pedient became exhausted. "Now we realise that is not enough," Sir Stafford said,
Joint Problem
He had sensed a feeling in
The police have captured two many quarters that the Washing
members of Salvatore Giullare's ton talks had not produced any
Sicilian bandir
gang who confess
ed to murders, assistance concrete result,
⚫dert
other crimes, Rome
Ra.
His satisfaction had been cri ticised us being slightly overdone.
A special task force of 2,000 • But, he said, the communique Sicilian police have unsuccessful-after the Washington talks had ly sought the "Bandit King" in the been issued with the knowledge caves of the Sicillan mountains of the impending devaluation; for almost Ové years.—Reuter.
The Washington talks had been successful because they had been.
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TOLL IN CANADIAN DISASTER
Toronto, September 19..
. Red Cross officials today said they thought that most of the 84 people still unaccounted for after the pleasure ship dis- aster in Toronto Docks would be found safely at home in the bound safely
The known death total is 121
and it is unlikely tuit it wil reach the officials said.
200 mark predicted
Divers searching a section in
the the stem of the vessel,
status been unable
to- Naronic, have been
60 bodies" locate the “50 or which some firemen believed had been trapped there. Already, a few
who people were believed to have died 17 the disaster, have turned up alive. being made in Appeals are American cities for survivors t comer forward and
report that safe. they are
A minor fire broke out in the Moronie last night although it had rained most of the day.
The blaze was quickly put out and today divers are contimuns their search for bodies-Reuter
KAREN TOWN CAPTURED
Rangoon, September 10. Shan States forces have recap- tured Lollem, an important Karen stronghold in the South- ern-Shan States, a military com munique reported tonight.
The capturing forces were re- ported to be advancing along the road to Taunggyi, the State capit al-which is about 40 miles to the West. Taunggyi fell Karens on August 13.
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The communique also said that Karen concentrations in Pegs district, North of Rangoon, were heavily barbed and strafed by Government aircraft-Beuter.
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