Page
CABLES.
LATEST CABLES, [THROUGH REUTER'S AGENOT.] WASHINGTON CONFERENCE. CHINA AND THE BRITISH VIEW.
-Washingtodi, Kavombar-15ib.... A mamber of the Chinese delegation stated that China is ready to refuse any longer to sit in the Conference if the British view of the " Open Door" turns out to be the attitude of the Fowers. He expressed confidence, however, that the British suggestion of a consortium and pooling of railway concessions did not represent the policy of the United States One and other delegations gonorally. Chinese official said that his delegation officially have to ignore the publication of the British view as it was not put forward in the Conference room, "but if the proposai is made public as a move on the diplomatic chess-board and other
THE HONGKONG DAILY PRESS, SATURDAY, NOVEMBER 167x, 1921.
DR. WELLINGTON KOO'S APPEAL.
WASHINGTON, November 4th.
BIGHER IMPORTS DUE IN GUAM THE KEY OF THE
CHINA...
REVISED TARIFF OR SURTAX, From a Shanghai correspondent The Times publishes the following:-
LATEST CABLES.
PADIFICATION OF SYRIA. A communiqué states that Dr. Welling- toa Koo proposed to restore to Chips
PARIS, November 23rd. the right to fix and differentiate in in-
„According to Beirut, Syria, reports the port tariff rates, but said that as it appeared hardly possible to establish a French high commissioner is proceeding | new régime immediately full autonomy should be restored to China after a car-with pacification and organisation work.. tain agreed period. Meanwhile China Moslan-elementa ——are
co-operating would impose MA
rate and within that maximum, such as the right would like to anjoy fullez freedom
heartily-avos. of differentiation among different classes LONG-DISTANCE WIRELESS. tariff is to be revised in accordance with of commodities, but as the present finan- cial condition of the Chinese Government required some immediate relief it was proposed from January 1st, 1990, that the import tariff be raised to 12 par cent as stipulated in the treaty with the United States. Great Britain and Japan. Dr. Koo advanced a number of number of reasons in support of his pro posals.
BRITISH STATION SPEAKS TO AUSTRALIA
LONDON, November 28th.
PEACEFUL RELATIONS.
Carnation wireless has successfully transmitted messages direct to Australia by means of the so-called valve trans- which the subject was referred to a submitter. Sydney and Melbourne replied
A general discussion followed, after commitee as agreed on the 2nd inst., follow; Chairman. Senator Underwood the members of which were announced as indirectly, (United States); Baron De Cartier aiter. Robert Borden alternately with Mr.. nately with M. Cattier (Belgium); Sir Locker-Lampson (British Empire); Dr. Wellington
Kod (China) xỉ. Sarraut (France); Signer Albertini alternately with Signor Vincenzo Filasi (Italy); Mr. Hanihara (Japan); M. M. Beelzerts Ernesto Vasconcellos (Portugal). 25th inst.
H. BRIAND’S"MESSAGE TỚ -GERMANY-
NEW YORK, November 25th. Speaking at the Lotos Club, M. Briand
PACIFIC.
THE NAVAL REDUCTION PROGRAMME.
· FULLER DETAILS. The telegrams to Japan papers from Amories give many more details of M Hughes scheme for the reduction of the Navies of the three leading Powers th have been furnished by Rantara quote the following resume the Kokusai cables from Washington given in
of the agreement the navies of the three Within three months after the signing the Japan Advertiser:
chief aaral Powers-Britain, America, and Japan shall contain the following capital shipa
of
GREAT BRITAIN.-Eighteen, battleships tonnings of 380,930. and foar battle cruisers, total 22, with a
"A SECOND ROSYTH."
The London Daily Express gave pro- minence recently to the following article: A very considerable stir has been caused
The koy of the Pacific and of the peace in British commercial circles in China by of the world is the island of Quam. Few raporis in connection with Chins/g-tarifemen in England have ever heard of this
American possession. Let it & stir rendered all the greater by the diffi
may domin culty of ascertaining the actual facts.
ate our destinies. So long as it is not
The moment it becomes such a base the In some quarters one is told that the naval mistress of the Western Pacific. made a great fortified base Japan is the the arrangement made two years ago; in trident of the whole ocean passos irrevoc others that revision is to be postponed and ably to the great American battle fleet.. that a surtax is to be imposed instead. The amount of the surtax is variously
· CASUS HELLI? quoted.
Will the "attempt to fortify Guam be The North China Daily News, that it is to be 11 per cent., while another 1920 the Navy Department at Washington for example-quotes-a-report to the affect taken by Jupan as a agus belli? In formulated a plan to make Guam a second report puts the figure at 25 per cent.
There is considerable uncertainty also Rosyth. But Congress only granted the whether the Chinese Government has come ridiculous sum of £495,000, ostensibly on munt sccompanied by forward with a suggestion for postpone-grounds of economy...
JAPAN.-Six battleships and four battle It has been suggested in a surtax or whether
competent the idea amanstes from and of the Lega naval circles that if the United States Cruisers; total 10, with a tonnage of
288,910, (a) to state clearly what the present posi. Guapa or Manila into a naval base, Japan British Navy will be the battle craiser tions, and, if so, which. It will be useful would give a pledge not to make either
The newest ships to be retained by the tion is; (b) to indicate what considera. would consider this proof positve that the tions have to be taken into account in United States did not mean to use the "Hood and the Eve battleships of the discussing any proposals for a change in big stick against her, and would be ready Royal Sovereign class. existing dution. The present duties date : 50 arrange a mutual limitation of armatained will be the battleships of the King from August 1st, 1919. They were based ments.
George V. class, Anished in 1913. on average values between the years 1912 British delcgates at Washington will have Guam is the central problem that the and 1916 and, as revised represented an effective & per cent.
Further revision, to consider.
manœuvres among delegations are being with Van Blokland (Holland), and Capurged people linked by ties of blood with it was agreed, was to take place after a
made outside the Conference, then not only would the purpose of America call, ing the Conference be set at nought bat the proprieties would be violated.”
FRANCE STRIKES THE ONLY
JARRING NOTE.
LONDON, November 25th.
The committer then adjourned till the the peoples of the Cofitral Powers, to tell
the
1
24
EARLIER CABLES.
THE BOMBAY TROUBLE. A HEAVY CASUALTY. LIST,
LORD CURZON'S CAUTION.
the German people that they had nothing LONDON, November 24th. to fear, from France. France only Speaking at a luncheon in the City, awaited any gesture of goodwill from Lord Curzon made reference to the Wash. ington Conference and uttered a caution Germany and France would do every that it was no use reducing sea arma-thing in her power to eliminate the causes ments if it was will contemplated to pilo up vast land" armaments. M. Briand's attitude at the Washingtonton and abil por Greely to set not only between France and Germany must act proportionately their goal-
All Dations of war and to assure peaceful relations Conference is gravely preoccupying the accept to submit to sacrifices while others but throughout the whole world. delegatee as if the French policy aims at whose naval responsibilities are
did not notice them. If Great Britain, accuring a paramount army, a large navy greatest in the world, was willing to reduce her naval strength, other Powers and air force, the French attitude must should not be allowed to build up other profoundly affect the whole question of instruments of attack, either by air or sea, which would render our sacrifice disarmament. Although Conference opin- ugatory and expose us to undue risk.
Proceeding to enlarge upon the neces
BOMBAY, November 24th. ion is generally sympathetic with the sity of international co-operation, his The serious character of the recent dis- French desire to maintain a strong army lordship, said that if France attempted turbances is revealed by the fact that owing to her special position it is unable policy, she would not injure Germany two Europeans, and 150 detained in hos to adopt her own isolated individual total casualtica of 38 Lilled, including to appreciate the reason for M. Briand's tect herself. France's real strength lay becoming normal,
in the long run and would fail to pro-pital are recorded. The situation is demand for a powerful flotilla of sub-in the fact that the conscience and com
bined forces of the world will not marince which, taken in conjunction with tolerate the reappearance in the heart of Europe of a great dangerous Power the reported French desire to possess a always rattling the sword-scabbard and floot équal to Japan's, has struck the perpetally menacing
Europe.
the people of only jarring note in the Conference, French circles claim that M. Briand
SPEECH.
**
and
UNITED ACTION. : Lord Curzon emphasised the necessity, proved his point but it is more likely that of showing, Germany, that the Treaty his success consists in side-tracking hetaliaion or revenge could be tolerated. must be enforced, but no policy of re question of land armaments and persund. He pointed to the examples of successful co-operation of the Powers in the settle ing the world that the demilitarisation meat of the Silesian, Adriatic, of Europe is past praying for.
Russo-Polish questions, the deposition of Karl; the prohibition of the return FRENCH PRESS ANT) M. BRIAND'S of the ex-Kaiser to Germany, and the coming Franco-Kemalist agreement, and said that terms of peace between the Greeks and Turks would never be reach- ed if individual Powers tried to steal a march on others and concluded inde Pendent arrangements. Such plans would lead to a cul de sac, from which We would never emerge. be a better chance of securing peace if the great Powers acted unitedly.
His lordship concluded with s refer Conference foreign affairs policy had on to the fact that since the Imperial become Empire policy (choers). That was a great source of encouragement and strength.
PARIS, November 23rd. The papers, irrespective of their shade of opinion, are unanimous in apprecia tion of M. Briand's Washington speech as depicting, with striking accuracy, France's position, having now to rely solely on
hor, army to enforce the Treaty and to protect European peace. The British and Italian head delegater spontaneous declarations in support of the French claim, as well as the noted American, Eliha Root's declaration that Franco American friendship is to be placed above everything, are
commented especially gratifying.
as
A MOURNFUL MEETING.
BOMBAY, November 25th. tives of different communities at Gandhi's After a mournful meeting of representa- house, at which they discussed the events of the week-end, Gandhi declared that be was breaking fast. The trouble was now over, but if it re-started he would do afraid even if he died as a conso not be
if as a consequence. BELFAST DISTURBANCES, NEARLY A HUNDRED CAHUALTIES.
LONDON, November 24th. jured in the disturbances at Belfast since Eighteen have been killed and 80 in- Monday. The city was quiet to-day.
REMOVAL OF ARMAMENTS FROM CHELSEA BARRACKS.
N
LONDON, November 24th. A sequel to the daring, removal of There would munitions from Chelsea Barracks was witnessed to-day, when Bergeant Roach, D.C.M., of the Irish Guards, and four civilians bearing Irish on a charge of stealing two machine-guns brought up at Westminster Police Court and two rifes A chief inspector gave evidence of arrest, and the prisoners were
HONOUR FOR M. BRIAND. "
NEW YORK, November 25th. Columbia University has conferred the Honorary Doctorate of laws upon M. Briand.
22
INTERNATIONAL upon
In an interview at Washington with a Le Matin representative the French delegate, M. Sarrant, stated that _China——
in debates on the Far Eastern, problem
SHIPPING
CONFERENCE. VARIOUS QUESTIONS TO BE INVESTIGATED,
i
LONDON, November, 24th." The International Shipping Conference)
"remanded.
names
paziod of two years.
VALUE OF DISTANCE.
UNITED STATES.-Eighteen battleships and no battlecruisers; total 13, with a tonnage of 500,850.
The oldest re-
"MARYLAND "AMERICA'S NEWEST.. The newest ship in the American Navy will be the battleship Maryland, finished
at year.
The oldest will be the two battleships Delaware and North Dakota, finished in 1910.
Japan's newest ship will be the Nagato, nished last year, and her oldest the. Settau, finished in 1919.
Why is this obscure islet a turning point in the world's history? Because, in GOVERNMENT'S NEED OF FUNDS. modern naval affairs, distance can ob- The second point cannot be stated quite literate strength. At the present time so concisely, though from the point of the United States has twice as many capi- view of the Chinese Government the case tal ships as Japan, and when the existing need of money; it is entitled to an effec is simple enough. It is desperately in building programmes of the rival Powers Mr. Hughes' plan requires that Britain are completed, about the end of 1923, the abandon the construction of the four new tive 5 per cent. and, further is entitled respective caval strengths of the two Hood type ships planned but not yet to see whether it does or does not reach is the official pronouncement of the Japan ships older than the King George V., to overhaul the existing tariff this year Powers will be relatively unaltered. This started. Britain must scrap all capital-
last occasion it took a year, and the Gov-ships. That ratio would be disturbing but totalling 411,376 tons, making a total re- that standard of effectiveness. Revision, use Admiralty: We shall be about half most of which have already been scrap. however, would take some time. On the as strong as the American feet in capital ped. Of this class there are 19 ships. ernment wants ita moacy now, As an for certain corollary factors, such as duction for Great Britain, if "the four alternative in the revision which, it be superiority in cruisers and our more ad- abandoned Hoou type vessels are includ. lieves, would bring it that money it sug vantageous strategic position." gests, accordingly, a surtax.
In the last clause lies the sting. Theed, of 683,373 tona. From the point of view of the people United States will have sixteen super- who pay duties the case is not so simple. Dreadnought battleships and battle-crui- America would give up most." She In the first place, is it a fact that as a Bars, against Japan's eight. They can whole the tariff is below an effective 5 easily concentrate them on their Pacific per cent. 1. Revision would show whether coast without interference, for experts it was or not, but a surtax imposed right believe the Panama Canal to be so well Away would beg the question, for prices defended as to be indestructible. are falling. The probability appears to level they roach, say within the next six be that they will continue to fall, and the months, may well brit them to a point at which existing duties should remain as they are.
تری
the
VIEWS OF CHAMBERS.
PITCHED HÄTTLE.
15 NRW U.S. SHIPS TO GO.
than
her 1923 programme, nine battleships and would have to scrap 15 capital ships of six battle cruisers, with a total tonnage of e18,000. Moet of these ships are at least half finished, some as high as 60 ditions the American flest must win. But building of these ships more
per cont. completed. Two of the battle- In a pitched battle ander equal con- ships are already launched. In the how can it be a Node of $330,000,00 has already been spent : In in trim to fight No fleet in the world addition to the new ships the United can operate thousands of miles away States, would have to scrap 15 older from a fortified base where it can rest battleships, those older than the Dele- coal, take in food and ammunition, and the map will show that, so long as Guam 27.740 tons. If the plan is accepted the repair damaged ships.
ware and North Dakota, aggregating remains unfortified, that is exactly what United States would have to give up 30" it would have to do.
capital ships of a total tonnage of 815,000 tons.
Japan would be called upon to scrap
But a glance.
fi
of 159,828 tons.
MEANS A TO 3 RATIO.
attainment of a proportion of five for The plan. contemplates the eventual
Britain and America would be equal and Britain and America to three for Japan."
capital ships. The limits to be set for Japan three-6fths as strong in tonnage of
the various classes of ships would be:
In the second place, the merchants in- quire, what use is the Chinese Govern Government, to get at once to bed-rock, ment making of its revenue? Will the spend it on the first duty of statemann ship the maintenance of peace and valley alone shows the contrary Trade It is 7,000 miles from San Francisco and order? The condition of the Yangtaże Look at the map and mark the distances, is more insecure along that groat water- its repairing docks to the Philippines, the battleship Mutzu, ready to be com- way than it has been for years past; more and 9,000 miles from Panama. There is missioned, the battleships Kaga and insecure, porbapa, than it has ever been. one When, in consequence, merchants suffer in readnought dock at Pearl Harbour Tosa, ready for launching in a few weeks, 3.000 miles from Guam and the battle cruisera Amagi and Akagi 5,000 miles from disposen doce de Chine Gorepensate Japanové arcual, Yokosuka, is 1,300 miles, December, 1520, and also than dog pens them? On the contrary, there is a large or four days steam, from Guam, and for the battleships Owari and Kii and the The great construction on was begun in number of outstanding claims, which have 1,740 miles, or five or six days, from two projected battleships still unnamed been entstanding for years past. No Manila. Both places and the control of but known as No. 7 and No. 8, and for. Government. since it promised them in hands of Japan in the first fortnight of and Nos. 5, 6, 7, and 8. For the Atago steps have yet been taken by the Chinese the Western Pacific fall straight into the six battle cruisers, the Atago and Kakao make trade ever, so much more profitable the battle feet see the swift rush of and Takad certain materiel has been 1909, to reform inland taxation and so the war. One
and the transporta follow- from a revenus point of view than it is. ing them like locusts; and China falls, destroy all her battleshipe older than the assembled. Japan would also have to. a vast side issue,"to the victor.
Suppose that the whole American fleet Bettsu, a total of 10 ships with a tonnage These questions represent the point of comes rushing to the rescue. view of merchants in the matter, and they arrive harassed by submarines and light It would were crystalized a year ago in the follow-cruisers, and with swept bankers, with no ing resolution pased by the Associated harbour in which to coal or rest, with British Chambers in Chins :-
That this Conference desires to ex-loss, and unable to bring its swifter enemy every ship damaged a dead and certain
gort duties should be held in trust glues, till coal and oil ran out and it press the view that the additional revenue to battle. wore
At the worst it could only accruing from any revision of the exist cruise round, like a until such time as the Chinese Govern- fell a helpless victim to the submarine.
By buzzing-round-a
ment shall have shown itself capable of maintaining order and protecting trade interests throughout the country.
"At the same time it desires to ex press the opinion that when the time for such revision shall arise, advantage should be taken of the opportunity, so presented to press for the reorganiza- tion of the whole system of taxation of their spoed, would offer battle, but it At the best the Japanese, trusting to trade in China on the lines suggested would be an action of the Jutland type in the Association's letter of April 21st 1990, and that as a proliminary and
a refusal to close with the main American tons. practical step in this direction thetish Floet at Jutland had owned no base battle Heet Imagine if the Grand Bri- Chinone Government bo pressed nearer than New York, and that a Gerbe required abolish forthwith the taxation now levied by the Chinese-Maritinre Customs man submarine-base existed in-the-Shethe qued at once, but would gradually Tands, and it is posible to form some idea on all goods carried from one port to GF Another in China.”
the helplessness of the American flect replacement of ships. The ages at which Broadly speaking that remains the in the Western Pacific. What the attitude of the diplomats may miles across the Pacific unless he had
the various clasaca of fighting would be No American admiral would be mad considered obsolete and ready for replace ba is another matter, and events may secure bases the other side to receive, suc-
Capital ships, 20 years. oblige the former to yield to the latter cour, and send him out again refreshed
Cruisers, 17 years. So much in China is governed by the to battle. Otherwise, he must perish as diplomata
and miserably as the Spanish off the stormy coasts of Great Britain. The cost of two battleships spent earlier on gans and docks would have Averted this humiliating state of affairs. WOULD SCRAP 66 CAPITAL SHIPS. would have been in proportion of 14 to from Washington gives further partion Had this money been so divered, America The following Kokusai Kouter cable 8 in the Western Pacifip; as it is her num-lars of the plan outlined by Mr. Hughes: ber is 0 to 8.
The Eastern Pacific and her
This plan provides for the immediate enn be defended easily,
own coast destruction of 68 capital fighting ships But with such with an aggregate tonnage, of 1,878,000
THE DUTCH CONSTITUTION. THE REFERENDUM SYSTEM
REJECTED. R
THE HAGUE November 24th. Continuing the debate on the revision of the Constitution, the Second Chamber rejected amendments for the abolition of the First Chamber and the introduction of the Swiss referendum system. BELGIAN GENERAL ELECTION
BRUSSELS, November 24th.
to
President Wilson, in his wisdom, pre- sented the ex-German islands which lie round Guam in a circle to the Japanese at the Peace Conference. They are admir able submarine bases, fatal to a fleet in an unprotected roadstead.
ANOTHER JETLAND.
CAPITAL SHIPS.-Britain, 500,000 tons; America, 500,000 tons; Japan; 300,000" tons.
ORUISEER FLOTILLA LEADERS AND DES TROYERS-Britain, 480,000 tons; America, 450,000 tons; Japan, 270,000 tons,
SODMARINES-Britain, 90,000 tons; Ame ries, 30,000 tons; Japan, 40,000 tons. tons; America,,80,000 tons; Japan, 48,000 AIRPLANE CARRIERS.-Britain, 80,000-
20 YEARS A SHIP'S LIFE. Conformity to these figures would not
can rely on. Franco ás her traces and passed a resolution recommending yolun- The General Election has resulted ifttitudo. of British merchante to-day. enough to come, of his own volition, 7,000 mens would be as follows:-
sincerest friend. He added: The prin cipal revision of concessions and special privileges granted by the former Chinese regime is now a settled matter.-Havas.
EARLIER GABLES.
M. BRIAND AND LORD BEATTY RETURNING TO EUROPE.
WASHINGTON November 24th." M. Briand paid his farewell to the Conference prior to his return to France.
Lord Beatty is shortly returning to Great Britain. Interviewed, he said,
21
tary international application of the the return to the Chamber of 82 Catholics, Hague rules, Italy and Japan reserving 33 Liberals, and 63 Socialista. hibiting a shipowner from Sxing the the right to raise the question of pro- limit of liability below £100 per package.
Committees were appointed to investi. FAR EASTERN CABLE gate, fratly, the question of deck cargoes: of wood; secondly, the international load- line regulations; and thirdly, "necessary modifications in the 1914 Convention. THE ANGLO-AFGHAN TREATY, AN INTERCHANGE OF MINISTERS.
LONDON, November 24th. will be an interchango of Ministers be Under the Anglo-Afghan treaty there tween London "and Kabul, with Consula in Afghanistan and India Afghanistan that gratifying progress was being made frontier with a slight realignment of the reaffirms acceptance of the existing ae regard limitation of armaments. He boundary demarcated by the British Com would leave with perfect equanimity.
LATER. Mr. Hughes (U.S. Secretary of State), in paying farewell to M. Briand, said that they now understood France's true position, and felt assured that Frince had no nood to fear imolation. yard,
LATER.
The
mission in the autumn of 1919. privilege of importing munitions through India is restored to Afghanistan.
JAPANESE IN ENGLAND. TRAINING SQUADRON TO VISIT LONDON.
LONDON, November 24th. The programme for the entertainment
M. VIVIANT SUCCEEDS M. BRIAND. of the Japanese training squadron which M. Viviani succeeds M. Briand in the ia arriving in London on the 29th inat. leadership of the French delegation. has been arranged. Officers, middies, The proceedings of the Catiference were and men will be brought to London for suspended on account of Thanksgiving sightseeing an exchange of visits, and Day.The American and foreign dele- a reception at the Embassy. The Fleet mater attended Church services,
'leaves on December 9th -
NEWS.
[BY COURTESY OF THE “ CHINA, MAIL.”]
SMALL FOX SOARE AT SHANGHAL
SHANGHAI, November 24th. -- The small por scare has reached a climax. Three thousand tubes of vaccine are being supplied daily by the Municipal Office 120 foreigners and 400 Chinese were Laboratory. At one branch of the Health
vaccinated.
20
BANK OF COMMUNICATIONS,
SINGAPORE BRANCH SUSPENES PAYMENT.
SINGAPORE, November 24th. The local branch of the Bank of Com munications suspended payment on receipt of intelligence from its headquarters at Peking.
(THROUGH BRUTER'S AGLROY.] LORD FORTHULIFYE'S PLANS.
LONDOR, November 24th. A Shanghai massage states that Lord Northcliffe departed, for Macaoon November 21st. After a few days visit to the Governor of Singapore he goes to Juva, Cochin China and Siam, thereafter to Ceylon and Bombay.
SHANGHAI TRADE. Messrs. Ilbert & Co.'s Piece Goods Market Report says:-
would
marines, 12 years,
Destroyers, dotilla leaders and sub- Airplane carriers, 20 years... No ship built to replace an obsolete vessel would be of more than 35,000 tons displacement.
tons.
The money market has been somewhat or rather prefer to sontal defeat,450,000; United States 450,000; and
The situation has slightly improved during the interval, owing to slightly cheaper rated of native interest which have enabled dealers to clear their cargo a state of naval stalemate Japan would, the case. Prices are also inclined to be Pines, and the hegemony of China, the agreement the naval ethblishment of rather more freely than has recently been in effect, be the victor Guam, the Philip
Within three months of signing of the steadier, except for American cloths main cause and prize of the conflict, Great Britain will consist of 20 ships, which are momentarily going through
pass to her. process of forced selling with the inevittions can be laid down with the certainty Japan 10. able result of rate-cutting to the great of Euclid But Einstein might interiere.
So far the military and naval propos- while the United States will have 15 and advantage of buyers who are taking the Could Japan stand the financial strain of powers in cruisers, flotilla, leaders and The tonnage of each of these three fullest advantage of the comparatively a stalemate war? Would America sulmit destroyers would be large stocks.now on hand.
to the humiliation of
Great Britain, disturbed during the week by the sudden to certain destruction
her battleships Japan, 270,000 uneasiness which has set in regarding the British Empire do, and could not she ed to Great Britain would be 80,000, to What would the kia tonnage in airplane carriers allow. nota iue of the leading Chinese banks remedy the weakness in in Poking which would doubtless be very material which shears in geography and the United States, 60,000, and to Japan. Boverely affected if the financial position of its strength i
Anierican Navy 18,000. All these points are
how.
-
of the Peking Government becomes more matters of speculation. But one thing is scate than it now is but so far these certain the period of gravest risk if the. No Power likes to fight with an un- institutions have met the
them Washington conference Laila ir towards completed naval or military programme, quite successfully. The incident, ever, clonely illustrates the mutire lucky Guam, could not be so provided or even though it knows. its opponent to be of confidence prevailing in native circles, fortified as to wrest from Japan her local in a like, dilemma The American and
the end of 1923
and no improvement in this connection naval superiority in under appear to be possible until something month from the passage of the American completed towards the end of that year.
eighteen Japanese prgrammes will be practically drastin in the stairs of political and estimates in 1922.
If Great Britain is going to do any financial reform takes place.
thing at Washington, she must do it now. Otherwise the Deluge
(Continued at foot of next columa)