EUROPEAN COUNTRIES TO SEEK THEIR OWN SOLUTIONS
America Still Not Drawn Into Discussion
British Delegation Plays An Active Part
[REUTEN'S AMERICAN SERVICn.]
London, June 29.
Violent fluctuations in currencies entirely dominated the activities of the conference this morning when Professor Moley took the first big plunge in active business by conferring with his delegation on the subject of stabilisa. tion.
Other delegations metaphorically listening to Prof. Moley's keynote "in intervals, are holding conferences amongst themselves, the principal of which being among the European gold standard countries.
The British delegation led by Mr. Ramsay MacDonald and Mr. Neville Chamberlain played an active part in the direction towards mediation but they acutely realise, how- ever, firstly that any declaration linking up the sterling with gold would mean isolation from the United States, and would, therefore, gravely jeopardise whole confer- ence; secondly, that there was deep anxiety among the gold countries that the dollar shall carry down the pound sterling with devastating effect on the trade of the gold
countries.
Much work of the conference was virtually suspended pending a solution to the currency crisis. The American delegation has not yet been drawn into formal discus- sions, but have kept themselves informed of the progress. The latest report in which there is understood to be the least substratum of truth, is that M. Bonnet of France suggest an adjournment unless stabilisation agreement is reached within a week.
Mr. MacDonald, M. Remet and Mr. Hull to-day, gave" attention to the seriousness of the situation.
It was reported that as a result, the American's cabled. President Roosevelt suggesting the urgent need of a definite pronouncement when he considers it is time to do so but an official denial was issued.
Meanwhile Mr. Cox reaffirmed their refusal to discuss stabilisation and advised the European countries to seek solution among themselves.
INTERNATIONAL AGREEMENT IS SOUGHT IN LINE WITH U.S. ·
PROGRAMME
LONDON, June. 24.
A drive for an international ac- rd to raise prices in as with
their week-end to devising means of saving the conference, conscious that failure may serve to under. mine, much that has been accom-
HONG KONG DAILY PRESS, FRIDAY, JUNE 30, 1933.
THE LEAGUE OF NATIONS
AND THE MANCHURIAN
SITUATION
THROUGH REUTER'S AGENCY]
LONDON, June 28. AN enquiry made of Sir John
Simon in the House of Com-I
THE EVEREST ALWAYS WINST
EXPEDITION RECALLED. FOR THE PRESENT
THROUGH REUTER'S AGENCY]
LONDON June 10,
was announced here to-day that
CANTON'S REPLY IMPORTANCE OF CHINA IN
TO CHINA'S DELEGATES TO "THE LEAGUE ..
ا
Canton, June 28. The South West Political Council has telegraphed the following reply to the cable. gram addressed to it by Dr. W.
WORLD ECONOMY
DR. W. W. YEN'S BROADCAST
ADDRESS
the Everest expedition will beW. Yen, Mr. Wellington, Ko. UNUSUAL INTEREST MANIFESTED
recalled.
mons regarding the activities of the advisory committee of the league nations in connection with Man churia elicited the reply that its meetings were held in private."
Mr. Mander said he thought some of these should be held in publiction made a splendid fight but for previous telegrams
success this season. The expedi- connection with the Council's
Committee, when interviewed by hers of the Chinese Delegation Mr. Bruce, the Chairman of the and Mr. Quo Tai Chi, mem- Reuter, said that the expedition to the League of Nations, in had little chance of achieving any
in order to show the position taken up by the different Government Sir John Simon said he thought the committee should have consult ed one another about this.
OBJECTION OVER-RULED!
(THROUGH REUTER'S AGENCY)
Geneva, June 29. Despite German opposition the Disarmament Conference has been adjourned till: October 18, practically unanimously.
REHABILITATION OF SILVER
Danger of Industrial Development
THROUGH BEUTER'S AGENCY.}
LONDON, June 28, THE rehabilitation of silver is the subject of special reference in The Times today.
The journal publishes telegrams exchanged by the British Chamber of Commerce and the China Asso-- ciations in Shanghai and London on the silver question, arising from the Shanghai Chamber's resolution
of June 17,
The City. Editor of The Times, outlining the effect of the low price of silver since the war, observes that the effect of the low exchange value of China's currency is causing China to industrialise herself,"
He points out that the danger of this industrial development con- tinuing so that other countries find
themselves in competition with a
the present the mountain won against man and his machines. It was always & question of the wat- ther with the Everest and when a new start was made he hoped they would get a better season.
AAAEAAAAAAAAMERA../20
SILVER MARKET “.
(From Our Own Correspondent')
LONDON, June 29. FOLLOWING ARE THE SILVER QUOTATIONS ON THE LONDON MARKET TO-DAY :.
SUOT......... FORWARD......
June 29
18 18
June 28 18.15/18 19.1/16
to the
League of Nations on the sub- ject of the Tangku armistice:
In reply to your telegram ot June 23, the South-West Political Council has to point out that your information, if complete, must have revealed that the· grievous Tosses sustained by the Kuomin- chun and other anti-Japanese forces in, North China (to which you re- fer) were mainly due to the mas- terly inactivity of the Chairman of the Nanking Military Commis- sion who, in order to prove him self a practical realist, not only contrived to be absent from the front but left the forces there without any military plan or effec tive means to resist the enemy as demanded by the entire Natisn.
Your view of the Tangka armis- tice ignores the realities of the transaction. Throughout the enemy operations inside, the Great Wall, the Japanese made it clear that the operations were undertaken by joint Japanese-Manchukuo forces for the alleged purpose of protect ing the peace and security of the Japanese-created state of Manchu kus. The Japanese-Manchukuo forces considered this. objective realized when the armistice was concluded; and by signing this document, the Nanking Govern ment impliedly and necessarily re OR Manchuku in precisely the same cognized the de facto existance of sense as parties to any agreement must necessarily recognize the existence of each other."
CATHOLIC CENTRE
PARTY
OPTION OF SURRENDER
SUSPENSION
STAROUGH REUTER'S AGENCY.)
BERLIN, Jun 28, ONE by one, Hitler is suppress ing all parties in Germany which may be regarded as rivals
of the Nazis.
Grave Blunder.
*
1
BY BRITISHERS
(THROUGH REUTER'S AGENCY.]
London, Jung £0.
UNUSUAL INTEREST IS BEING MANIFESTED BY BRITISH LISTENERS-IN TO A BROADCAST ADDRESS BY DR. W. W. YEN ON "HE IMPORTANCE OF CHINA IN WORLD ECONOMY." THE SPEAKER SAID THAT THE UHINESE NATION WERE KEENLY ALIVE. TO "THE UR- GENT NEED FOR INDUSTRIAL MODERNISATION,"
THE LARGE QUANTITIES OF METAL AND MACHINERY NEEDED FOR DEVELOPMENT - PROVED THE LATENT WEALTH OF CHINA WHICH PRESENTED A BIOK FIELD FOR THE "COURAGEOUS INVESTOR,
RICH HARVEST MAY BE REAPED BY NATIONS PRE- PARED TO HELP CHINA IN HER TASE TOWARDS
· ECONOMIC PROGRESS, AS THE BRITISH ECONOMED MISSION TO CHINA IN 1930 POINTED OUT. IN FORMON TRADE, CHINA COULD BE INCREASED TO THE LEVEL OF INDIA AND THIS WOULD RESULT IN AN ADDI TION TO THE WORLD FOREIGN TRADE OF £300,000,000 YEARLY.
THE QUESTION REMAINED AS TO WHICH WESTERN NATION, BY FORESIGET AND ENTERPRISE, WOULD GATHER THE FRUITS THAT WILL INCREASE OHINA EAS A SILVER CURRENCY NATION, BUT WITH THE MAJOR FART OF HER IMPORTS FROM GOLD STANDARD COUN TRIES. IMPORTERS FOUND IT IMPOSSIBLE TO MAIN- TAIN THE VOLUKE OF PURCHASE.
OHINA FOR THE INTEREST OF FOREIGN LOANS AND INDEMNITY OBLIGATIONE, WOULD BE OBLIGED TO RE. MEN GOLD.
„DR; YEN INSTANCED THE COMPARATIVE FIGURES IN THAT CONNECTION AND HOW SERIOUUSLY CHIKA WAS HIT BY THE ECONOMIC DISLOCATION, AND WITH INSTABILITI : IN THE PRICE, OF SILVER, ANY PLAN SUCCEEDING IN STAHILISATION AND RAISING THE PRIOR OF SILVER WOULD THEREFORE INCREASI CHINA'S PURCHASING POWER AND ADD A DEMAND FOX MACHINERY, COTTON AND WOOLLEN GOODS."
THE SPEAKER ENDORSED WHOLE-HEARTEDLY THI VIEWS EXPRESSED BY THE BRITISH ECONOMIG" CON FERENCE REPRESENTATIVES THAT THE VETAL NEEDS TO. DAY ENHANCED THE PRICE LEVEL AND TO A GREATER DEGREE STABILITY IN THE-MONETARY AFFAIRS OF THE WORLD.
THE SEAMEN'S STRIKE
Moreover, the Tangku armistice (like the Shanghai armistice to which you also refer) is a grave political and diplomatic blunder. the hanghai so in North China; RETURN THE SHIPS! The Japanese were creating a situa volve the other Great Powers; and tion calculated inevitably to in it was surely not the duty of Chin ese diplomacy to prevent the in
AND PACIFY THE MEN tervention of the Great Powers, in TERDOOH REUTER'S AGENCY.} ese aggression bas forced on China. the unequal struggle which Japan,
PEIPING, June 29. This, however, is exactly what the PEIPING authorities have tele Nanking Government did when it graphically instructed
Rear authorized the conclusion of the Admiral Hsieh Kang Chib to as-seamen in Shanghai will join the Tangku armistice on the eve, so.sume responsibility in negotiating strike against the steamers of the The threat was issued in the speak, of the Roosevelt conversa for the return of five warships to China Navigation Co., Ltd. despite tions at Washington and the World Tsingtao and pacifying the men the fact that the Chinese Seamen Economic Conference in London,
simultaneously. Admital Shen
Propaganda, Dr. Goebbele has Hitler, through his Director of now issued a warning to the Catho lie Central Party, giving them the same option, surrender or suppres-
sion.
1
country with a very low standard of living must be obvious.
The week has witnessed the for The advocates of the rehabilitacible smashing of the Bavarian tion of silver contend that a rise in Peoples Party and the surrender the price of silver would, by im of the National Front proving the standard of living in China prevent such a hot-house growth of industry and by increas- ing the purchasing power of the Far East, would increase the de- mand for foreign goods and thus cause a rise in the price of other commodities.
Unless, however, there is an out gold-using nations or rather, un- less the present outlet is increased, there will be a check to the pos sible absorption of silver by gold. countries. Hence the suggestion that more, monetary use should be made of silver by nations general ly
course of a vigorous speech by Dr.
IS LIKELY TO SPREAD TO SHANGHAI
It
seems likely that
Chines
the American recovery programme plished during the post-war era of let for silver among the Western Goebbels at Stuttgart, when he ad- and as it had previously done when Hung Ligh was ordered to attend Union in Shanghai is proscribed
go under way in the world econo mic conference to-day as Secretary of State Hull assailed suggestions that the Roosevelt administration's domestic plans were incompatible with international efforts to solve the economic crisis.
Hull, chairman of the Washing- ton delegation, said the American viewpoint is there is only one way The conference can proceed with hope of results and that is toward world-wide co-operation to restore price levels.
international co-operation.
Already it is more or less gen. orally conceded. that the Geneva disarmament conference will prove impotent unless there are favorable developments at the economic con- ference.
League Fails.
of
"
NEW APPOINTMENA FOR M. AVENOL
THROUGH RESTER'A AGENCY I
be postponed from July to October. M. AVENOL has proceeded to
LONDON, June 29. Since the days of the close of Geneva to take up the new
cussions at this time, many observ The futility of further arms dis are believed, was virtually admitted in the announcement yesterday of Arthur Henderson, president the diearmament conference, that His statement was in answer to resumption of deliberations would renewed assertions of spokesmen for the European gold bloe that no, real progress could be hoped for until leading currencies are stabiliz.
Conference Divided.
ed.
the world war, when Woodrow Wil-appointment of Secretary-General son and others of similar beliefs to the League, and until he returns inspired nations to international
to London, the work of Secretary- effort in the promotion of peace General to the World Economic The American government feels and welfare, the landmarks of pro Conference will be undertaken by that its efforts to raise prices are gress have included principally the. Vontren Delenburg the present the most important contribution it League of Nations, the disarma Under-Secretary General of the can make to the purposes for whicament conferences, the carica of the conference assembled June 12, bi-lateral and multi-lateral pesce the delegation said in a statement treaties concluded and the economic yesterday. Stabilization now would efforts culminating in the economie be untimely and possibly cause conference. a violent price recession," it was added.
League,
SMALL FORTUNE FOR
MR. BENJAMIN
FOR SERVICES RENDERED TO SHANGHAI LAND CO.
(THROUGH NEUTER'S LÁGENOY, 1
A
vised the Catholic Centre Party o dissolve voluntarily if it wanted to the Shanghai armistice was signed to his duties as mayor as usual, by the city Kuomintang by order avort action by the Government. in circumstances liquidating
Hsu Tau Chuan, the Wei-Hai from Nanking.. Japanese-crested situation which Wei commissioner at present wisit- in Germany for the Centre Party tion of the Foreign Powers whose political council to proceed Taing He declared: "There is no room was bound to provoke the intervening Peiping, is instructed by the Catholic Church a good service by over unwilling they were so to in- any more and we would do the vital interest were menaced, how. tao at once to report the whole in-
cident. making the Centre Party dii- tervene." appear."
"Our aim," he added is the creation of homogeneous National Socialist Germany,"
CUBAN SUGAR PROPOSALS
SPECIAL COMMITTEE BEGINS DELIBERATIONS
[REUTER AND BRITISH WIRELE98. ]
LONDON, June 28.
IN THE sugar sub-commission, Sir Philip Cuncliffe Lieter sup- ported the object of the Cuban proposal that the working commit tee should examine the whole sub ject of international limitation, He resisted the proposal that the construction should be forbidden and said there. of new factories
were administrative and legisla tive difficulties in the tariff pro- delegate said the reservations de the well-posals in the Cuban plan The Cuban stroyed the plan but Sir Philip declared readiness to co-operats heartily in its prime objects.
None of these can make more than a modest claim to partial success. The end of the second week found The League and the treaties com- "the Americans holding firmly to bined failed to prevent warfare, this attitude, the French and other notably in Asia and South Ameri- gold standard champions still inca, and the League now finds itsell sisting upon stabilization, and the defied by Japan in its most crucial conference, at cross purposes, divid- test, ed over aims and methods.
Although partial success in naval,
SHANGHAI, June 29. Week-end efforts to clear away limitation was achieved in the THE SHANGHAI Land Invest some of the difficulties vero plan- Watahington and London conferen ment Company is proposing to ned, and Prime Minister Ramsay ces the world in the aggregate finds pay a small fortune to Mr. MacDonald of Great Britain, pro-itself far more heavily armed that Maurice
Benjamin, fessed optimism over the prospects before the world war, and no way known Shanghai real estate owner
towards material disarmament has as remuneration for special ser been opened at the Geneva confer- vices. ence, now almost a year and a half |
The amount involved in officially old..._
stated to be four hundred and fifty- Bee Rivalries Revived.
thousand theļā,
of the conference.
Aro not
-
FENG YU HSIANG
PRAISED FOR GOOD WORK IN CHARHAR
Séveral leaders among the Shang-
the views of seamen on this mat hai seamen are visiting other north China ports in order to ascertain
ter. Their object is to arouse sym- pathy for the strikers in Canton
Rumours were passing around here that the strikers on the loen! Taikoo wharf were warned to leave. the property otherwise British gun- boats would come to clear them up. The British consular anthroities at Shameen are said to have denied this rumour,
a
It is not easy to understand your present attitude of Canton in re- gard to Article XVI of the Coven; ant of the League. The circumstan ces in which you rightly recɔm2 mended the severance of diploma tic relations with Japan as a pre- paratory step to the application of
Carros, June 20.
The Coolies Union has circulated General Feng Ya Hsiang has the article are unchanged if they evoked nation-wide applause and seamen, This union resented the message in support of the actually aggravated While your patriotiem is not ques support by his recapture of places. Lad treatment by the C. NO to tioned, it is to be regretted that in Charhar invaded by Japanese- the tea boys resulting in serious. you appear to have weakened un- Manchukuo forces, stated ir assault on two of them and the mis der pressure of the personal tele. Chow Lu in a statement in the sing of another. The message asid gram sent by the Chairman of the
Chinese press to-day,
the C.NC. refused to come to a act Nanking Military Commission in
A translation of the statementtlement and said that patriotio which he forbade action under the
follows:- article. And it is significant that about the progress of General Feng
people should have nothing to do The South-west is enthusiastic with their shipa nothing further has been done by yu Hsiang, commander-in-chief of to Canton on schedule call, but Taikoo vessels continue to come" the Chiness Delegation at Geneva although the Japanese have not only the People's Anti-Japanese Forces, their cargo cannot be unloaded abat plundered a fourth Chinese pro- and will give him every support, have to leave with the same stuff vince but actually invaded intra-50 that he may achieve his goal in in their holds. mural China, massacred tens of recovering lost territories
Therefore the report that General raising funds for the maintenance Meanwhile public bodies here are thousands of our countrymen, and imposed the demilitatisation of the Feng Yu Hsiang has agreed to of the strikers-Central Prett most strategic region in North give up his command is purely the China.
propaganda of certain circles. Military progress in the north is Japanese Misrepresentation, reported daily by General Fang two others not to send their divi- Chen Wu, field commander of the sions to Charhar to embarrass the
Council would advies you to insist South-west authorities to send a teplied to the three questions rais
As regards Japanese misrepre anti-Japanese forces, and his dis anti-Japanese Allied Forces, but- sentation, the South-West Political patches reach here every day, ・・・ they have not yet entreply to that division of opinion among punitive, expedition to wipe out by the South-west Political General Fang also requests the the warning. Neither has Nanking. Chinese on matters of political principle does not justify the the traitors, promising, that his Council with regard to the surren Japanese-manufactured contention army will take orders in this un-der to the Japanese and the tacit that China is not an organized dertaking. His patriotism.is, e recognition of the Manchukuo, If international effort at econo- mic bettermast offers no greater Investment Company to be held on lateral agreement to effect tarif Japan itself, in America, Britain,
| state any more than the existence matter of admiration......and grati. Since Nanking in bent on, bet General conventions and muß of division of political opinion in
fication.
ing the nation, they have noth measure of success than these, many July 4 when a resolution will be modifications, Instead of bilateral France would justify Fascist Italy ed Generals Haiso Chi Che andtions-Central Press
The South-west has already warn to reply to the three, pungent leaders feel there will be little left submitted that the Directors be agreements were advocated by the or Nazi Germany (where polítical effort, but instead, they may turn to to spar nations on to co-operative and are authorised to pay to Mr. delegates of Belgium, Norway, and differences are not permitted) in within themselves for betterment Taels. 450,000 is remuneration for policy sub-commision of the Con as unorganized states. And in the Maurice Benjamin the sum of the Netherlands in the commercial representing the former countries restoring, the national rivalries of special services rendered by him to ference. Prolongation of the tariff case of China which has not much old.
the Company, in accordance with fruce and a return to the widest to expect from the West as long. The world economic conference, now nearly a fortnight old, has Directors by the Committee of were urged by the
recommendation submitted to the possible measures of free trade as Nanking grovels in non-resis yet to develop any tangible hopes shareholders invited by the Board delegate.
Japanese tance, it would be tantamount to for a great degree of success for considering the question.
disployalty if not treason should Stabilization of currencies and
The special sugar committer South-West lenders fail to speak restoration of the gold standard, Shanghai in 1883 and his business deliberations immediately after man in power in Nanking, who is Mr. Benjamin was born in which has been set up beganite and warn against the policy of the named as objective by leading interests have always been centred electing Signor Damate (Portugal) leading the Nation to disaster ba thinkers in many nations appear in the International Settlement, se chairman.eduse his conception and practice to be impossible.
He was a member of the Shanghai The discussion is expected to last of the state make for the subordina Already a move has crystalizen Municipal Council in 1920 and several days before a report is tion of the vital interests of China in France demanding adjournment 1921, when be was only 38 years of ready for admission to the Econo-to personal and family considers
(Continued on Page 12.)
mic Sub Commission Two.
Lionsfiliated Press.
MacDonald Hopeful, MacDonald said in a press state. ment that the conference was nɔt going to adjourn but would con- tinue at work, adding "I am en tering the third week with a bouy ant and hopeful heart:"
But the continued failure
agree on monetary stabilization cast gloom over the gold bloc. Des pite the Franco-American rappro- chement of Thursday which at least temporarily eseed, the stabili- zation tension, the question of ad- journment was again raised in the eteering, committee yesterday.
MacDonald said this was laugh- ed off" and added that develop ments paved the way to further progress-decociated Press.
LONDON, June 24. Confronted with many obstacles and difficulties, leaders of the world economic conference were devoting"
The matter will come under, dis- cussion at a meeting of the Land
age.
Tarif Issues,
COUGH LINCTUS
HIGHLY RECOMMENDED FOR COUGHS, COLDS ASTHMA BRONCHITIS AND ALSO VERY EFFECTIVE FOR THE PROTECTION OF THE CHEST AND THROAT, VETU,
QUEEN'S CHEMIE
Solely by
DISPENSARY
RUGGISTSNI
KONG
-63