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HONG KONG DAILY PRESS, TUESDAY, APRIL 14, 1931.
CHINA TRADE POSITION REVIEWED.
ANNUAL MEETING OF SHANGHAI BRITISH CHAMBER OF COMMERCE,
ADVERSE EFFECTS OF CURRENCY INSTABILITY.
A comprehensive survey of past and present conditions in Chinn was given in the annual address of the Chairman (Mr. R. Calder Marshall) at the meeting of the British Chamber of Com- merce held at the Shanghai Chib last week.
The serious economic menacé represented by the activities of bandit and Communist hordes was, he said, affecting the tradė and industry of the whole country. China, had suffered during the past year with the rest of the world from acute trade depres- sion, a condition which had been aggravated by the reduced value. of silver.
Referring to China's unpaid railway debts, it appeared to him that it was a primary duty on the part of the Government to mert its just obligations before allocating sums to other non-pro- ductive services.
On the subject of extraterritoriality, he voiced the opinion of the Chamber that rendition was net fensible until Chinn was in a position to assure effective protection to British subjects resident within her borders.
trade
THE QUESTION OF EXTRALITY.
.The civil war, which resulted from the revolt of Marshals Feng Yu Hsiang and Yen Hei Shan and which was probably the most serious of all the civil wars of recent years, is now happily over.
Mr. Calder Marshall said:- being levied will be sufficient to During 1930 trade,, commerce and compensate for the loss of revenue
due to the reduced volume. industry were seriously affected by Commerce and trade depend upon the civil war in the North, the pre-stability and until there is greater yalence of banditry and couniauniem stability in the currency of Chian in many parts of China; déprecinted than existe at present, trade and silver; and the world depression in commerce must continue to be un-
certain, erratic and full of pitfalls.
At the present time with silver at such a low point, it would appear to be undersirable to put the re- commendations of the Kemmerer Currency Report into operation, but it is hoped that ere long conditions allianes which now appear to exist Government may be able to stabilize and may so improve that the Nanking between Marshals Chiang Kai Shekita currency. The dificulties to and Chang Hauch Liang should be surmounted would be great, but provide the best security for peace the ultimate benefit that would re North of the Yanglaze.
sult to the country at large and to its foreign trade through having a stable unit of exchange would amply repay any temporary inconvenience during the transition period.
The close co-operation
If further civil strife can be avoid. ed, the country recently devastated by war will have a chance to re enver and the troops which during the internecine conflict were of necessity concentrated on the Northern front will be available to
Ohanging Conditions.
HONG KONG POLICE RESERVE.
[ORDERS 188YED BY THE HON, MR. E, D. C. WOLFE, CMG, INSPECTOR- GENERAL OF POLICE.]
Police Training School.
Tho weekly classes, for Police Ileservista nit the Police Training Seliool, Kowloon, will be held as usual to-day at 6.30 p.m. All mem hors of the Chinese Company and of the Flying Squad who have int yet passed Part 2 of Training Course should attend.
Chinese Company.
Practice Parade, A practice parade for Hon, I.G.P.'s inspection will take place at the Central Police Stating on Thursday, April 23 at 3.30 m. All members must attend. Dresa-Winter uniformi, belts without frogs and cap, with white cover.
Probationess.-The following pro- bationers are specially required to nitend the Police Training School, and Squad Drill at the Central | Police Station on Tuesdays and Thursdays respectively: R00 Frank Chew, R74 11 Kwai Hung, R51 Lam Man Kit, R80 Luk Kang Cheung, R49 Pong Kwok Tin, Ro Tsoi Long Fhan, "Res Edward E. Tip, R64 Silver Pong and Rai Kwok Shui Cheong.
Squad Drill-All recruits of the Chinese Company will attend Cen- Lial Police Station for Squad Drill on Thursday, April 18 at 5.30 p.m. ünder L.S.K.43 Tso Chi On.
Flying Squad.
Practice practice parade for Hon. L.G.P.' inspection will take place at the Central Police Station on Thursday, April 23 at 5.30 p.m. All members must attend. Dress- Winter uniform and cap with white
Cover. I
Squad Drill-All recruits of the Flying Sqund will attend at Cen tral Police Station for Squad Drill on Thursday, April 23 at 5.30 p.m. detailed for special duty at the under L.S.R.233 A. W. Mooney.
Special Duty Members who are Races will parade at Central Police Station, on Saturday, April 18, at 13.30 hours,
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The weekly instructional patrol of the Kowloon Section will take place to-day. Fall in at the Teim- tantsui Fire Brigade Station at 3.30 p.m.sharp., Dress-Winter uni- form and cap with white cover.
The weekly instructional patrol To meet the changing conditions combat the bandit and communist in Chinn it seems evident that trade the Hong Kong Section will take pince on Friday, April 17. Fall in Armies which are now seriously ing methods must undergo corres- at the Central Police Strition at menacing the economio life of large ponding changce. This will neces.15 p.m. sharp. Dress-Winter sections of the country.
sitato much closer co-operation be uniform and cap with white cover. tween producer and, distributor than Cure for Communism.
Sharpshooters' Company. hus hitherto existed. Though armies and punitive ex-
Strength Constable R4X4 Leon The visits of the British Economic. peditions are necessary to oppose Mission, the Canadian Mission and Cotovez has been taken on the bandit and Communist forces, missions from other countries have strength of the Sharpshooter Com- the only real cure for the Com-focussed attention upon the develop-pany as from April 1, muniat mended fies in the improvement taking placé in industry the Riot Drill--Riot Drill will be ment of local conditions, the main extent of which is not generally carried out on Kennedy Road to tenance of peace and the establish realised: .
morrow, at 5.18 m. Members will ment of good government. The
fall in outside Queen's Pier at 5:10 mere defeat of bandit and Coming those industries already estab-and truncheons. Uniform optional. Though the low exchange is help-p.m. with evolvers, belts, holsters munist armies will avail little iflished it, is temporarily preventing the conditions which led to their further extensive development on Company Rite Club will hold its Miniature Range Practice. The formation are not remedied.
account of the high silver cost of usual weekly practice on the Minia plant, but there is no doubt that ture Range on Thursday at 8.15 in the near future, provided renson-p.m. able security, is maintained, there will be considerable development of industry on modern lines.
The seriousness of the problem lies not only in its effect on the trade and industry of the districts affected at the present time but in ita demoralizing influence upon the trade and industry of the whole country.
The Government in now putting forth every effort to crash banditry and communism and it is hoped that their efforts will be successful, but, ns has been said, unless good gov- errument is established at the same time, the results cannot be per-
mauent
(Sgd.) D. L. KING,
D.S.P. (R.).
"Extrality," __Aɛwe_all_know_negotiations_for. the abolition or modification of the extraterritorial status" at present enjoyed by British subjects are now being carried on between H.M. Minister and Dr. C. T. Wang, the Minister of Foreign Affairs for the National Government. Though this Chamber is not and has not been antagonistic to modifications of the extraterritorial clauses of
Though as a result of this expan- sion there will bo changes in the commodities imported the volume of trade should tend to increase rather than decrease as the people secure profitable employment and their spending capacity improves, '
Industrial development is also encouraged to some small degree by the protection afforded by the A People's Conference has been increased duties provided in the new called by the Nation Government import tariff which came into effect to meet in May. To's large extent on January 1, 1031. The wool sche- the future depends upon the cut-dule was immediately seen to be too come of this Conference and on the high and inequitable but this has the treaties in so far as such maintenance of the present friendly now been adjusted in a way that modifications are justified by chang relations between Nanking and is, satisfactory to all concerned.ed conditions in Cluhn, it feels that Mukden.
Though in some classifications. the these safeguards pre пестявагу increases seem unduly heavy there can be really very little cause for the Government which are:- complaint, considering the aims of
(1) To reduce duties on mate- rials essential to industrial deve lopment.
(2) To reduce competition, of foreign goods with certain goods of domestic manufacture.
(3) To obtain revenue to com. pensate for Customs duties and other taxes either reduced or re pealed.
the interests of Great alike in Britain and China in order that causes of international friction may
be avoided.
Trade Depression and Business Morality.
and the heavy fall in silver han The general depression in trade emphasized the remarks made Inst year regarding the deterioration in the commercial morality of the As was average Chinese dealer. pointed out last year this deteriora- tiveness of the District Court and tion is largely due to the ineffec the facility with which dealers can evade their just, obligations,
... Buver.
the whole world has been suffering During the past year, practically from acute trade depression, Chinn has, been no exception. The coin- ditions of unrest brought about by the civil war naturally affected bath the import and the export trades but the heavy depreciation in the value of silver has hail a far more disastrous offect on trade and com merce, preventing normal import and stopping the development of industry on necount of the high silver cost of the requisite plant.
It is understood that the revised Exports which should normally have sport tariff, the main intention of profited by the low exchange also which is to readjust anccific duties suffered on account of the restrictou so that they will yield an effective The matter is ierlous not only home markets and violent fluctus per cent, will not become opera to the importers who suffer loss tive at present. The Minister of through the unreliability of their tions in silver.
Though, it is realized that any Finance has stated that due did buyers and the virtual impossibility improvement in the value of silver ample notice will be given, before of securing radiant but to the brought about by artificial means the revised tajiff in made effective better class dealers whose credit can be but temporary and that the so that exporters will not suffer and good name is being undermined value of silver must ultimately on thraigh increase in export dutyni depend upon the law of supply and after sales have been made and be by those whose word and bond are eidly.valueless. This is a matter demand it is nevertheless felt that fore shipment can be effected,. in view of the, serious depression in Another important alleration in which concerns the judiciary and reputable Chinese dealers whose trado in all countries and there connection with the Customs is the good name is at stake. duced, purchasing power of the abolition of the system of Draw Having regard to the achieve Eastern countries which accen- bacles. Under the new system goods ments of the National Government tunton such depression and cons can remain in Bond for one year during the past year, the determina quent unemployment, international after which time duty must be paid
action to athbilizo silver would be or goods can be re-exported from tion and resource shown by the fully justified. Having this in mind bond, but duty having once been Minister of Finance in face of great Your Committee ehbled London paid will not boreurned. The dioulty, the abolition of coast strongly urging that an attempt main difficulties of the new system trade duties and kin; the efforts should be dude to secure inter arise in connection with bupker being made to crushi Imuditry and yaardurism and the probability of national netion. A KERANA
coal, but it is understood that ar The reduced volume of Chine's rangementa are now being made to peace being maintained in the
North, it is felt that there is justi trade das to the collapse of silver facilitate the bonding of coalition for taking an optimistic must inevitably have a serious effect tended for the bunkering of ship view of the future notwithstanding. upon her revenu and it is doubt proceeding to foreign ports.
the present world trade dépression.; fal whether the higher duties now" (Continued on here Colimni) North China Daily News.
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