Scheme For Development Of Empire
NEED FOR ACTION
-LORD
BRUCE
Lord Bruce of Melbourne has suggested that Britain should form a committee to develop the resources of the Commonwealth and thereby help to solve the world's political and economic diffi- culties.
He was speaking in London at the golden jubilee conference of the Institute of Directors, which concerned itself mainly with Commonwealth possibilities. As chairman of the Finance Cor poration for Industry, Lord Bruce spoke about in- vestment in the Commonwealth,
Company through a joint com- mittee, which could, in turn, appoint a working party.
He said, the dollar gap had to be closed, trade must flow more freely, and there must be freer convertibility of currencies,” To Lerd Bruce raid the Volla date, the efforts of C.A.T.T. Scherne showed the Government (General Agreement on Tariffs realised the need for action, but and Trade) to reduce restric-progress was too slow. For the flons on imports were hardly plan he suggested, Britain and encouraging, and only the U.S., the Conimonwealth could not neling unilaterally, could make sup
supply all the necessary invest- o major contribution.
(meat, and an approach thould be made to the United States which would, he felt sure, find It acceptable.
at
Lord Bruce was alarmed the faith in tarift reduction as method of diminishing the
11
dollar gap. Various financial
Sir Hubert Sinclair, chairman chemes Ind b:en canvassed.
Com- but lethnical assistance for the of the Imperial Tobacco development of the more back-pany, raid the Budget was not e cure for Britain's troubles but ward countries' Tatent resoures; was
more fundamental challenge to industry to find
the cure,
We needed to create new wealth and the greatest International netion was slow,cope for that lay in the British however. The preparation of a Commonwealth.
.
approach.
densite plan should be under- taken by the U.K. Government, the Colonial Development Cor poration, and the Comnidin wealth Development Finance
Drop In Australian
Wool For America
0
Canberra, May 24. Wool Is rapidly losing its placa as one of Australia's best dollar
earners because of slump in America's textile in- dustry and competition from synthetics.
Omcial figures released here show a sharp drop in wool ex- ports to America for the eight months ended February 1953. American manufacturers have already warned that America will have to buy less wool this усаг unless industry recovers sharply.
to
In the eight months, wool
earnings dropped experi
£17,180,000~~ust over half the total for the same period ended February 1052, The earnings represented exports of 45,863,000 pounds compared with 88,GBG,- 000 pounds.
as
THE CHINA MAIL, MONDAY, MAY 25, 1953.
May Build Camera Plant
In Indonesia
Tokyo, May 21.
A plan to build a camera manufacturing plant in Indonesia is being studied by the Chiyoda Optical Instruments Company.
Negotiations are being carried
between คุยเ Tajima Shoten with head- quarters In Kobe and several Indonesian Arms.
plan
September next year when a foreign investment law will be put into force in Indonesia-France-Presse.
P.O. Box 13. Queen's Bldg.
Greece's Economic Problems MESSAGERIES
Still Not Solved Despite Aid From America
In his recent message to the American Congress on the foreign aid programme, President Eisenhower Baid of Grecce: "Out of the ruins left by Communist aggression a proud, self-reliant nation has re-established itself."
woman,
M
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Thie plant would be
The Americans have indeed a special interest per capita army in Europe, it- operated Jolutly by the
self able to fill the investment Japanese camera firm and
in Greece. It was to assist Greece and Turkey cap. And as Greece hus de- Inattesian companies and
against Communist pressure that the "Truman faulted on lie pre-war foreign would produce 500 to
debts, there can be no new re- Doctrine" of aid to all nations resisting aggression course 1,000 cameras per month.
to thic International | "PEI-tio" Equipment would be sup-
was first openly proclaimed, thus marking an his- money market. piled by the Indonesians
As a result of insufficient in- tects- and technique and
toric turning point in American foreign policy.
vestment capitol, one-quarter niclans by the Japanese.
of even the limited number of Chilyoda expecta thie
Since 1047. America. kes control In Athens onti, the nines being exploited before spent some two billion dolland Greeks pre keeping ten army the war is now lile. to materialise by
in aid to Greece, an average of divisions, in combat readiness, most a million acres of land
And al- 250 dollars for every Greek under American command, enough, American experts man,
and child-the along one of the strategically highest per capita aid given to
to make Greece self- estimate. vital frontiers between East sufficient in
but food-stuffs, any foreign country.
and West. Everything seems to whose cultivation requires irri- Yet despite the recovery she suggest what Mr Acheson gation and Implements-are has made Greece still needs used to call "a sltunilon of all a
wilderness. This land ald and the Americans today strength."
today represents the only hope Yet it must risk losing the political and
be recognised resettlement and adequate human dividends of their huge that, of the three tasks the nourishment for the
rapidly investment by pulling out Americans set themselves growing masses of unemployed. financially and administratively relief, physical reconstruction, crowding the city slums. before they have made the and economic rehabilitation-i country into a going concern,
rn. the first two have been MASS UNEMPLOYMENT Although the American Ad- magnificently accomplished, the ministration is recommending same is not true of the third. On paper, these town workers the
continuation of ក small
It is too late to argue whether are very well protected. Post- amount
of ald to Greece, for the two billion dollars might war vole-seeking governments strictly military purposes, the have been better spent. Almost have rushed through countless new Republican Congress may
certainly Greece today would and immensely
would labour decide that the job is over. The
"practice, more mines
laws; but, in Greek
Communists have, in fact, unen resoundingly defeat- ed: their leaders are in exile cr in gol. A strongly conserva- tive
government 13 well
VOLUNTARY
PLAN FOR
U.K. STEEL INDUSTRY
London, May 24. A steel plate distribution scheme, to operated voluntary lines by the UK in- dustry itself with guidance from the Government, has been au- |nounced by Mr Duncan Sandys,
Minister of Supply.
The steel industry, he said, had appointed a group of plate- makers to act as a clearing house for consumer
sumer requirements. mitte,
An Inter-Departmental Com-
The Government
crnment departments principally concerned, had been sw up. Its task was to keep under review the needs of the plate-using industries and
any adjustments in the pattern of production and de- veries which might be desirable. industry, the Minister stated, had they would to the fullest extent ussured him that practicable
composed of officials of
Sir
Robert warned against re- garding such developments those connected with the Chief Joseph Dam as indicating the attitude of the American people.side To show
of the another side of pleture he quoted the research
comtaltice and policy
of {}* Committee for Economic De velopment in the US, as stating that Britain remained America's strangest and closest ally.
A QUESTION
In a short speech. Sir Rupert De la Berc, M.P., Lord Mayor of London, said the City regarded the Commonwealth as all im- portant.
The Institute had two other visitors - Dr Geoffrey Fisher, Archbishop of Canterbury, and Mr T. O'Brien, M.P., president of the T.U.C.
Dr Fisher said Industrialists should ask themselves whether their products were good for society and whether they of what they were said to be. salesmanship and some aspects of advertising, he said: "It con- sisis very largely of telling people to buy things they
do not need and persuading them that luxuries are necessities."
AID TO RELIGION
你
Industry was not pulling its weight in its ald to religion. Some Irulustrialists betrayed kind of smugness when they said "No" to an appeal nationalised Industry unable to help.
and
seemed
The Archbishop, commenting that trade union lenders went
all types of Aus- more and more to the Church in search of new incentives,
The
M
OIL DUTY REDUCED
BY INDIA
be better off with
the
in production and less fantasi-mass unemployment-and cally protected rayon or hard-desperate need to take a job on ware factories, with mare any terms-makes
them hope- irrigated land and less textile tessly inapplicable. Often Jow businesses, with more cigaretle pay in
for the worker and high manufacturers using local to- fiscal and social security charges
and fewer bacco
steel works for the employer give them joint bringing iron and coke from Interest in having one man do the other side of Europe.
two jobs. Thus, although Greece The first need was to give probably has among the world's food and shelter to the vast highest proportion of un- mass of destitute and uprool- employed
industrict
workers, do an
to
FOOD AND MATERIALS
un-
to raise
ed victims of the war and civil many workers have to war and to rebuild the roads, undeclared 13-hour or 14-hour ports, and bridges. Although a day to provide relief for the un- Kirge proportion of Greek employed members of their own families still live in what look family. like chicken-coops and very
It seems to make very little close
to starvation level, st difference whether the Govern- Icast nobody is quite homeless ment Bombay, May 24 The Indian
and, at least visibly, no one is
labelled "reactionary" ment is Government has reduced the
(as the present one) or "Left- export
dying of starvation. duty on inseed oil from $42
wing" (as some of its predeces- to $10.50 per ton but shippers here feel It was inevitably difficult, in he done by legislative ne political
sors were.) Nothing effective that the Government's decision this emergency, to take all necessary
to control the reform until there is a planned has come too late to be of any whole expenditure action to comply with any real help
of the in-programine for to India's export mense counterpart funds, which development, designed
economic requests made by the Inter-
trade. Departmental Committee.
plled up ne hundreds of thou-national output, absorb the un- The reduction amounts Sandys
sands of tons of American food. employed and, above all, to as- hoped these
about 11 per ton but shippers raw materials, and arrangements would ensure im feet that the rates will continue came on to the Greek market what-in a country as poor us machinery sure that rational use is made of proved distribution and would
to be higher as compared with Certainly million of dollars Greece-must benent the shipbuilding and other some of India's major com- directly or Indirectly found adequate natural and capital re- important plate-consuming In-pelitors such as Uruguay. They their 10 into
pointed out that while the cur- building.
speculative sources. The Greeks themselves luxury rent Continental quotations are gold hoards hidden away
imports, or have neither the marginal around £100 per ton in bulk smuggled abroad.
or wealth nor the administrative C.JL, India cannot afford to sell
experience to do this job clone. The chief of the American For the Americans, on the other for anything less than £116,
mission in Ald Shippers here have been ad- Leland
Greece, Mr hand, it would cost himself com- Barrows,
very little vocating the abolishment of port duty on all ollment exements: "American aid is handled compared to the immense sums
Hed they have already spent.. In a foreign country in much fear among shippers is
that the
But there is no immediate same China might emerge as a large country handles
way that a foreign Exporter and serious competitor sources. We are not here to
Own should the present - truce talks distribute wealth or to effect a morrow there would probably be
dustries.
He declared that steel plate output in Britain this year would be over 1.4 million tons, nearly 200,000 tons more than last year. It was hoped to increase output by a further 100,000 tone or more during 1554-55.
He disclosed that he bad recently approved a scheme for
extension
modernisation
of a plate-rolling mill on the north-east coast which would produce an extra 100,000 tons a
and come into operation year 1956. Plats for other expansions were being made, but they coul not become effective before 1957. In addition, he added, there
succeed, United Press,
·
Japanese
was the possibility of importing Mission To
more steel plate countries
from certain
he
Bul abroad. admitted there was likely to be a marginal shortage of steel plate In the UK for some time la come.--Reuter.
Extension Of Aid Scheme
Forecast
Total of tralian exports to America in said the leaders acknowledged the eight months was £38,882, they had played out the fight 000, compared with £50,714,000 for righ
rights. With this Mr ----£33,257,000 of it wool O'Brien Was somewhat in earned during the eight months ner
agreement, He sald trade ended February 1952. However, unions were originally a
nally a "self- wool exports to Britain and defence movement to resist the other European countries are injustice of the mid-Victorian booming.
capitalists." All that had gone,
Manila, May 24, however. The movement had
Extension of the economie aid The biggest buyer for the developed eight-month period was Britain and responsibility.
a great importance programme for the Philippines over. n' longer period was fore- who received 238,864,000 pounds?
cast today by D Roland Renne, worth
It was no longer £82,037,000 compared
chief of the Mutual Security with 120,008,000 pounds worth to close factories and advocate
Agency Mission here. £45,750,000 in the corresponding strikes. Britain had reached
system of industrial relations
Dr Renne announced that the second to none, to the everinst-
Washington Administration had ing credit of its Industrial recommended to the US. Con- Kress a "stretch-out" in all leaders.
Edward foreign ald programmes in. Unz
with Ita determination approach a balanced budget as rapidly as possible, and at the some time ensure mutual security. with friendly nations of the free world.
period ended February last year. Total cornings from wool ex- ports to all countries for the eight months was £222,062,000 representing 430,871,000 pounds For the eight months ended February
1952 wool totalled 502,559,000 valued at £181,357,000.--United Prest.
exports pounds
Trade Figures
necessary
+
Major-General Sir Spears. chairman of the In- stitute, presided.
"MIDDLE WAY" URGED
At the Institute's gulden Jublice dinner at the Dorches- ter Hotel Mr. H.A. Wulkinson, Parliamentary Secretary to the Ministry of Labour, cald Bri- tain had to show she knew a way between the two ex-
tremes of managerial methods as represented by America and Russia.
Manila, May 24. The Philippines continued to suffer an adverse balance In Its foreign trade in February, ac- cording to the Census Bureau. its living in difcut! con-
Philippines exports came to
to
Dr Renne explained that it was possible that the total dollar allotments for the Philippines from now would be less than originally indicated, but pointed out that this in no way implied
Thailand
social revolution."
Its
re- re-
cans
no
always'
be In-
com even if the Amerl-
the aid mission to-
sudden colamity, The devaluation of the drachma will added that automatically lower imports and
have might the Americans not only "did not effect a social revolution standards of living and heavy encourage exports. The lowered but, in fact, prevented one: for
sent
the war
and
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.13
without Américas Lald the pre- unemployment provide 1
rich sent capitalist
could reserve of cheap labour which regime
attract have survived, Indeed, may still
adventurous nomically, it had already capital cager for quick returna.
Civil Politically, too, the situation collapsed; war, the catastrophic inflation, sale: Field-Marshal Papagos, the the general sense of insecurity present Premier, Is personally
ded popular; had almost entirely
the suspended
army is strong and savings and private investment. loyal; the people, after their war Tokyo, May' 24.
Greece was left representing and post-war experiences, The Yawata Iron and Steel capitalism without capitalists; apathetic and resigned. Company expect to send a survey or rather with only a handful team to Thailand to collect data of capitalists, needing exorbit end Investigate prospects for ant and instant profits to justify setting up a joint Japan-Thailand | disproportionate risks. Nor was iron mill.
the Greek Government, hord
Nevertheless, Grecce perhaps provides an extreme example of the imitations of short-term ald even at its most generous-in solving fundamental economic
The group will Inspect various put to Binance the largest disequilibrium.-The Scotsman. iron ore producing districts in Thailand, including the Lop-Burl district. 130 kilometres north of Bangkok, and the general irch and steel industry situation there.
Iron ore deposits in the Lop Burl district are said to exceed 10,000,000 tons and to be of high quality, with an iron content of
sore than 80 per cent.
more
The Thal Government would invest 51 per cent of the capital and the Yawata company. 40 per cent.
will leage pil Yowata industrial equipment to the That Government which will offer it to the plant as part of Thailand's investment,
The projected company will have an integrated iron minu facturing plant with a small type smelter but until then it will ex- port all iron ore it produces to Japan, After the completion of the integrated manufacturing equipment, it will export
to Japan alt iron ore noi needed by
the Philippines economically and a change in US, polley to asalst Thafiand-France-Presse.
was not a lessening of interest
"In between these two is this by the Americans in this coun- small island, which must earn try's problems-France-Presse. ditions," he declared. "I suIG-
only 60,002,319 pesos against Im-gest we are only going to do U.S. CONTRACTS
porta of 75,303,074 or an adverse trade balance of 14,321,055.
The Philippine foreign inde In February totalled 198,200,203 pesos as compared with 158,141,- $10 for the same month last year, showing a decline of 14
14 per cent. The lending country with which the Philippies traded was all the United States, with
Заран
The
#
that if we show that there is a middle course between capita. 11sm and Communism.
IN JAPAN
Tokyo, May, 24. Mr Watkinson said the my- Special procurement contracts of the balance-sheet from the United States Arnied
steries had never been made plain. Forces entered into during the How many companies had to week ended May 17 totalled borrow money to pay dividends US$1,857,000, which contrasted i or what enormous proportions with nearly US$0,000,000 of Waces and raw material
previous
costs bore to the total cost of
Barter Deal Arranged
Talpel, May 24. The Nationalist Central News reported that Agency today Formoan would barter 100 tons of South Korean graphite for Formosen sugar,
Formosan sugar is priced at US$180 per ton Lo.b, Kaohsiung, The graphite will be shipped to the Talwan Fertilæer Com-
cent for the United
week.
the
The figure included US$1,291,- 000 for goods, and the re-
pany
the two second, place, the product were not clear,
O. S. K.
LINE
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Tanks Available for Bulk Oil
Space for Réfrigérated Cargo
For Freight and Particulată pitase apply to the AGENTS:
“percentages, of
The Hong Kong Eastern Shipping Co., Ltd. two countries (75.75 bet
"It is no life convincing, the mainder for services rendered. The agency said a barter deal French Bank Bullding. States and top lovel, unless there is an Dollar contracts mounted to with Hongkong: had fallen
Tela: 38601 & 82869 Chiness Freight Agenta:
7.22 per cent for Japan) took Impact upon the man who is US$1,411,000, and the remainder, through due to cancellation of up more than four-fifths of the actually making the product," were en contracts. France- barter trade with the Colony Great Easterri Hotel 1st floor. Plulippine overseas edinmerce, he added,
Tresso.
Reuter
Tel: 20024.
Perang.
Rangoon, Chittagong Calcutta.
June 2 from Singapore, June 3 for Kobe &
Yokohama.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
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Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"NORDSTJERNAN”
Arrives Sally
May 30 from Singapore. May 31 Moji, Kobe, Oraka, Nagoya,
Shimizu & Yokohama..
"STAR ALCYONE" -
Arrives
Salle
June 4 from Japan, June
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(Accepting cargo for transhipment Kabe/Puzan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone, 31206. Chinese Department: Telephone 28293.
BUSINESS REGULATION ORDINANCE 1952
Copies of the prescribed Forms 1 (a) 1(b) and (c)
Now On Sale at S. C. M. Post, Ltd HONGKONG AND KOWLOON
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