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DAILY PRESS, TUESDAY, OCTOBER 28TH, 1991.
HIGH PRICES AND BAD TRADE
THE CANE OF JAPAN
The Jiji Shimpo in an article' on' this subject saya
'CHINA'S POLITICAL OUTLOOK
***CLEARING · UP.”
PREINO, October 19th. The Chinese political situation is gradually clearing up. In reply to the circular telegrams of the Prime Minister, Generals Tao Kung, Chang Teo-lin, Chi
-It-in-usual for an excess of importa in the first half of the year to give way to exports in the latter balt. This rule sich-yuan, Hsiao Yao-nan and tan was broken last year when the excess of other Tuchuns have wired to tha imports continued up to July owing to Government, intimating their willingness the financial reaction but in August and to remit a certain portion of the revenuss thereafter exports exceeded imports. to the Central Government, as was doas This year axports in August amounted to in the Manchu regime, and at the same 105,330,000 yen and imports to 131,120,000 time, they have promised in the future yen, an excess of imports of 25,780,000 | not to retain funds which properly belong | yea, and it is difficult to say whether to the Government, or which “affect there will be no excess of importa in foreign interests. Besides this, both the September, Before this an excess of im- Fangtion and the, Chihli factions have ports hus never been recorded for
August since 1909, and this fact is suf. agreed not to press the Ministry of falent to show how serious is the adverse, Finance for the payment of their mili- condition of this year's trade. It also tary 'arrears, so that there is no necce shows that it will be very, difficult tosity now for the resignation of Mr. Pan
Fu restore the situation.
Some days ago, it was suggested that in order to mollify the foolings of There may be various reasons for the the powerful Fengtien and the Chibli excess of imports, but the most compre factions, either Mr. Wong Nai-pin, hensive cause should be sought in the Minister of Agriculture and Commerce, rise in prices. After the reaction of isator Mr. To Jai, the Civil Governor of year, prices in this country gradualy Chihli, should be appointed Minister declined for a time, but they are again of Finance; but in view of the existing rising. This is a matter for concern not chaotic condition of the national finance, only for the living of the people but from" the viewpoint of trade and in dustry, and it should be noted that the affect on trade has already begun to manifest itself.
the Government supporting a most miserable hand-to-mouth existence through small short-term loans from those Chinese banks which are not members of the Chinese banking association in Peking both Tsad Kun and Chang Tso-lin gave
(WORLD THEATRE
PHONE
PHONE. 1337.
Hongkong's Most Modern Picture Palace Entirely Under British Management TO-NIGHT 9.15 pm. TO-NIGHT
ESSE L. LASKY
presents
WALLACE REID
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GEORGE WALSH
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MELTING MILLIONS"
2.80 & 7.15 p.m.
EDDIE POLO in "THE KING of the CIRCUS".
1st 2nd, & 3rd. Epis
An Animal Berial in 18 Episodes.
The Eye Alone can Grasp The Bigness of This
Giant Super-Circus.
up their struggle for the control of Fopular Prices. Booking at Messrs. MEHTA & Co. (Tel 951)
From the point of view of jater national finances, the present excess of imports may not be a matter for concern since the specie now in Japan's posses sion amounts to no less than 2,140,000,000 || Minister of Finance, and even the pro-
|
the empty Government treasury. Hence, Mr. Pan Fu will be retained as acting
posed partial reorganization of the Cabinet has now been given up sa un necessary and impracticable at present. Although Premier Chin has not formally restimed him duties in the Cabinet, nevertheless, he countersigns Presidential Mandates as usual at his private resid- ence-Asiatic News Agency.
| yen, and also because a further inflow, of a considerable amount of specie is ex pected on "accounts other than foreign trade. Even when the situation is con sidered from the standpoint of the living of the people, it may rather ba, a matter for congratulation if the excess of im ports continues for a certain length of time, turning a part of the country's specie-into-goods, and thus having the effect of lowering prices both through the flotation of currency and the increase in the supply of goods. But if there is too great an excess of imports, is will lead to over-supply and a steep decline BANK OF CHINA AND THE FINANCE
DISHONOURED GOVERNMENT
CHEQUES.
MINISTRY
PEXING, October 17th..
in prices. It is not impossible that this may have an adverse effect not only on the industrial" situation but on the living on the people. Moreover, finan cial circles in this country are optimistic For the purpose of protecting its or pessimistic according as exports in-officials and employer from ill-usage by crease or decrease, and are solicitous military men arising out of the issuing solely for the return of a favourable turn of cheques by the Ministry of Finance, to export trade. If there is a continued the Bank of China has presented a long excess of imports, extreme nervousness memorial to the Cabinet and the Presid will be caused and the resultant depresential Office. The Bank says that since sing and aggravating influences may the death of President Yuan Shih-kai, cause far worse consequences than would about twenty million dollars have been otherwise be the case, with unnecessarily advanced to the Central Government for widespread evil effects. When this is administrative and other uses by the borne in mind, it will be seen that too Bank and the Government is evidently not much excess of imports cannot be said in a position to refund, this money: as the to be beneficial to the state. It is very regrettable that some persons should be indulging in speculation in important merchandise apparently in anticipation of the early return of prosperity, their action causing an unnatural rise in prices. It seems to us urgently necessary to restrain speenlation.
present moment. In view of the existing financial situation and political in stability in the country, the Bank cannot pay out any money on cheques from the Ministry of Finance or any other Gov ernment Department hereafter unless the sums are covered by deposita in the bank. As a result of this decision a scuffle re- cently occurred in the bank's premises between some soldiers of the Wuyichun army corps and Mr. Chen Wei, Chief 75 INDIAN BUDDHISTS FOR of the Treasury Department, in which the latter was roughly handled, and the bank ardently requests that the officials of the Ministry of Finance should be strictly instructed not to issue cheques which aro.not covered by deposita in the bank. The bank asks the Government for due protection from military molestation and so enable it to carry on its legitimate business in the metropolitan capital of China. It is believed that the Bank of Communitions will follow in this matter the example of the Bank of China. Asiatic News Agency,
JAPAN.
35 PRIESTS TO STUDY JAPANESE
·RELIGIOUS PRINCIPLES.
A
Buddhist priests from India, numbering 70, are on their way to Japan, says dispatch reaching, Yokohama. Prepara tions for the reception of the party are being made by Priestess Ramchand. Ac cording to an interview printed in the Yamato, she said:
"An Indian priest named Abraham of exalted rank and of great age is leading the party which comprises 35 students of Buddhism who probably will stay in Japan for several years studying the con- dition of Buddhism desgand about 30. other attendants and advisers to the leador of the party, Abraham.
SAIGON RICE MARKET. The Compagnie de Commerce et de Navigation d'Extreme Orient, of Saigon, in their report dated October 18th,
"The doctrine of Buddhism in India stato:—
is declining rapidly and the present In spite of a big rise in the rate of visit of Indian Buddhist pricata is do exchange, a fair amount of business has signed to aid in the revival of Buddhiambeen closed-with Japan. Some sales have. into India Although the attempt been made, also, to Europe. The season brought opposition from the general is now closing and good qualities of Indian priests, Priest Abraham was not paddy are becoming rather scarce. The to be denied and carried out his plan for mills are fully engaged for October and the benefit of Indian Buddhism." November. Rains are falling regularly Japanese Buddhism is awaiting the and the prospects of the new crop are visit of the Indian priests and also ex-still good.
pects to gain much from the interchange The total amount of rice exported from of views. An elaborato programme of January 1st to September 28th, 1931, is welcoms is under contemplation by lead. 1,085,600 tons, against 793,903 tous in ing Buddhists in Japan.
!! THE TENTH" AT FEKING.
The anniversary of the birth of the Chinese Republic was quietly served in the capital, on October 10th, the official celebrations being limited to a alight dis-
1920...
We quote to-day-White Saigon rice, No sifted Japan quality, Hongkong 80.17 per picul, f.o.b., Baigon, for November-December shipment,
FIT-D PINCE-NEZ
play owing to the crippled condition of is the Latest of the finger operated eye- the Government's finances, says the glass mounting and has been designed te Peking correspondent of the P. and T. Timer. The usual troop review was avoid all the objectionable features of suspended although the formal courtesy this type of mounting. The long coil by the representatives of the Diplomatic springs of the Fit-U prevent spring Corps in calling upon Prezident Hau wza observed. The gloom in official sir breakage, and can be instantly adjusted cles due to the unsettled condition of the to give more or less prescure on the nose. Cabinet was not improved by the fact The nose clips are of special shape to that the weather was exceptionally cold
with a high wind from the Northwest. prevent slipping. Fit-U Pince-nez of any An interesting feature, however, was the metal are obtainable from The Hong fact that a number of Nanyuan aviators
circled about the city when the wind was kong Optical Co., successors to Clark highest their aircraft plentifully bedeck & Co., Manufacturing and Refracting ed with the national colours. That this
Part of the celebration was accomplished Opticians, the most competent optical without accident seemed remarkable; un-manufacturing establishment
less, as some thought, the airmen were Colony-located in 63, Queen's Hoso riding nt atsufficient altituds to be above Centre
the wind.
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