HONG KONG DAILY PRESS, THURSDAY, NOVEMBER 2, 1933.
LONDON BANKERS BEWILDERED
AT MR. ROOSEVELT'S
GOLD POLICY
Rumour Dollar May Rise
In Value!
U.S. EXPECTED TO
TAKE
"COURTEOUS RESTRAINED POLICY"
London, November 1.
London Bankers remain bewildered at Mr. Roosevelt's gold policy and confess their inability to discover a basis Axing the gold price to conclude a price to be determined arbitrarily. It is contended that if the policy even slightly shakes the faith in gold currencies it will have an opposite purpose to Mr. Roosevelt's Intentions by encouraging the fight from the franc to the dollar and raise the latter's value.
New York, November 1.
According to Washington correspondents the Administration expects Britain to assure a neutral policy as long as the United States undertakes courteous restrained operations," which is in- terpreted to mean merely "token" gold purchases abroad to in- fluence the dollar but not to affect the world's bullion market.
SIGNIFICANCE OF KE PUBLICANS' UNREST
It is authoritatively stated that definite advances have not yet been made to London, though the matter is bound to be broached almost immediately.
The Times Washington correspondent draws attention to the Signifiance of the Republicans unrest and declares that all Mr. Roosevelt's "sound money" advisers-agree the newest venture will not be abandoned, without a trial, but will flop and ultimately “ Mr. Roosevel will come to the printing_press.
On the contrary, Mr. Edwin Seligman gives the opinion that fears of uncontrolled inflation are groundless as the new liquor revenue alone will wipe out the national deficit.. Mr. Seligman "has come to asserts that the N.I.R.A.'s "socialised individualism stay.Reuter.
REPUBLICAN ATTACK
Washington, Nov. 1 Further steps in the President's gold policy are being anxiously. awalted.
Well-informed;
quarters state that if this final attempt by Pre- sident Roosevelt to raise commo- dity prices by gold manipulation falls, some form of direct infla- tion will be adopted.
Such inflation once authorised might easily go to the extent au- thorised by the amendment to the Recovery Act empowering the President to reduce the gold con- tent of the dollar up to fifty per cent. of its present legal conent. Bimetalbsm
(a) sound money
(b) the
international
tary conference
mone-
(c) a balanced budget (d) a reduction in federal ex- penditure.
N.R.A. Resignations
Five prominent industrialists have resigned from the National Recovery Administration, osten- sibly in conformity with a rota- tion plan.
Mr. Montagu Norman, one of
Britains puzzled bankers.
to compel the Administration to formulate a Code for agriculture, and also to raise prices by a stop- page. The farmers demanded an inflation of the currency, the establishment of Government banks, and the re-financing of farm mortagages.
U.S. BANKING METHODS
Disclosures by Mr. Wiggin
Washington, Nov..1. The formation of series of Corporations to escape taxes was yesterday revealed by the former President of the Chase Bank, Mr. Albert Wiggin, while testifying be- fore the United States Senate Banking investigation Committee. He said that the directors of the corporations included Mr. Gates McGarrah, President of the Bank of International settlements.
Mr. Wiggin asserted that the Corporations made a profit of U.S. $10,000,000 in five years but lost
SENSATIONAL MURDER CASE
Frenchman Sentenced To Death
VICTIMS DISSOLVED IN SULPHURIC ACID
NEW HARBOUR
AT HAIFA
Palestine Trade Expanding
London, Oct. 31
The magnificent new harbour at Haifa, the first to be constructed; in Palestine since Herod built the port of Caesarea in honour of His Imperial patron, was formally opened yester day. It transforms the unprotected roadstead into the finest harbour in the Levant.
Paris, November 1. One of the most sensational murder cases in recent years
Under British rule Palestine has terminated in Aix-en-Provence
regained its pre-eminence as a trading when Georges Sarre was con- centro and as the highway joining demned to death and two at. Western Asia with Northern Africa. tractive sisters named Schmidt prosperous countries in the world to Palestine is actually one of the most were sentenced to penal ser.day and Haifa is the nerve centre of
its commercial development. vitude for life..
The opening of the harbour, which has coat about £1,950,000 and which encloses an area of 400 acres, was yeater- day the occasion for the exchanging of wireless messages between the High Commissioner, Lt-General Sir Arthur Grenfell Wauchope, and the Colonial Secretary, Sir Philip Canliffe-Lister.
The band it is alleged is stat ed to have systematically com- mitted murders after heavily insuring the victims. In two cases, they are alleged to have dissolved the victims in a bath filled with sulphuric acid and then poured the resultant solution in the garden.
Intense public interest was manifested at the trial and this necessitated a heavy guard of special gendarmerie around the Court.--Reuter.
SILVER MARKET
The High Commissioner expressed belief that the harbour would result in an increase of prosperity to Pales tine whose rapidly expanding trade it was primarily designed to serve.
He also referred to the fact that it would not have been built had not the British Government guaranteed the loan raised by the Palestine Govern- ment to provide the necessary capital.
Engineers Congratulated The Colonial Secretary, after con-
gratulating the Harbour Works De-
partment and the consulting engineeri Messrs. Rendel, Palmer and Fritton, mentioned that during the four years of harbour construction, Arabe and Jewa had worked together, and that (From Our Special Correspondent) about 70 per cent. of its cost had been
spent in Palestine itself.
London, November 1.
Having referred to the great value Following are the Silver Quota- tine, the Colonial Secretary made an that such harbour must be to Falez-
tions on the London market to day:-
Nov. 1 Oct. 31 Spor .............. 18.5/16 18+ Forward
18.7/16 · 18}, "› The London on New York cross to-day closed at US
rate 4.79...
U.S.85,000,000 from participation WHY MAMMOTH
in pools and syndicates" with the Chase Securities Corporation.-
---
WILD LIFE IN
AFRICA
Among those who have resign Reserves Now Being
ed was Mr. Walter C. Teagle, the President of the Standard OU Company of New Jersey:-Reu-
ter.
It is suggested that this might AMERICAN
be accompanied by some measure
of bimetallism.
In the meantime, the Adminis- tration is awaiting word from Great Britain on its gold purchase plans before any purchases are made abroad.
One consequence of the gold a flood of programme has been spurious gold mining shares.
has
The political truce which prevailed since President Roose- velt assumed office, was broken to-day, by the Republican Nations al Committee, which issued statement charging President Roosevelt, with violating many of his election pledges, Including those relating to
STRIKE
FARM
Wisconsin Farmers Resume Work
Des Monies, Iowa,
November 1. The calling off of the farmers' strike in Wisconsin is announced. -Reuter.
A general strike of farmers was called on October 19 by the Farm Holiday Association and began at noon the following day, in order
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Considered
London, Oct. 31: FOURTEEN countries were re- presented at the International Conference which opened at the House of Lords, London, yester- day, to consider means of pre- serving and protecting the fors and fauna of Africa.
LINERS PAY
Demand For Speed
And Comfort
CASE FOR NEW
CUNARDER
What is the ideal Atlantic liner of the future alike from the owners and the passengers' points of view, "liver" in this connection meaning the kind of ship likely to be patronised by the highest class of ocean traveller 1
I have put this question to half a dozen prominent shipping men, who, not being connected with any crack" North Atlantic lines, are impartial judges, writes the London Daily Telegraph Shipping corres-
Lord Flymouth and Sir Samuel Wilson, Under Secretary for the Colonies, in welcoming the dele- gates, emphasised the need for new methods to control the india-pondent. criminate destruction of. ..wild Lite.
The British Government
One and all declare. that the lion's share of the best and most profit- felt that the problem was urgent able passenger traffic has always and the work of the Conference been, and always will be, captured might well afford a basis for the by the ship that combines the great other est comfort with the highest speed And that combination is possible examples of which are the Bremen, only in the super-liner, modern
the Italian Rex, and the French Normandie.
protection of nature in parts of world.
Society for Empire Fauna Protec
Lord Onslow, Fresident of the tion, who presided over the Con- ference, detailed 'some of the arti- cles in the draft convention pre- pared by the British Government with special reference to the con- stitution of national parks, and
} reserves.
A general discussion followed, and the Conference resumes to- day-British Wireless Bervice,
LAND SPEED RECORD
Created By John Cobb
Brooklands, Nov. 1. John Cobb, driving a 500 hp. Napter-Railton, in a high wind, broke the world's record for the mile and kilometre from a stand ing start for two runs,.-.
The speed over the kilometre averaged 88.14 m.p.h, while that over the mile averaged 102.52 m.p.h.
Efforts are now being made in American shipping circles to dis- parage the super-liner and "boost" the moderate-sized vessel of about 30,000 tons. It is significant, how- ever, that until lately the United States was proposing to build two 60,000 ton ships of the highest speed. The abandonment of this plan, owing to financial reasons, may account for the sudden American conversion to moderate-sized ships. BRITAIN'S URGENT NEED
outspoken reference to the riots,
recent
He said, "To-day's ceremony is overshadowed by the deplorable disturbances which have taken place. I would speak very plainly to the people of Falestine.
Thirteen years ago, Great Britain accepted the Mandate of Palestine. That Mandate carried with it a clear duty to the Arabs and to the Jews.
That duty will be discharged fully and fairly and without fear or favour, There is,, under the Mandate, an obligation to facilitate the establish- ment in Palestine of a national home for the Jewish people. But at the same time, there is an equally definite obligation to safeguard the rights of all the inhabitants of Palestine. Both obligations will be most carefully observed. It will be the constant aim of British policy to foster and promote the well-being of all Palestine.
"Plans are now in hand, in which the High Commissioner has had a great personal share, which will materially benefit all classes of the community.
"That work will go forward. But law and order. That duty too will be ́there is a paramount duty to proserve most thoroughly discharged.
Tribute To Police
"I wish, here to repeat the tribute I have already paid to all ranke of police for the fortitude, with which they have carried out their duty: Law and order will be maintained through- out the land.
"Palestine is fortunate in having, at this time, a High Commissioner devoted to its interests, and one who every man in Falestine knows in his heart is fair and just. He has the complete confidence of His Majesty's of goodwill to give him their loyal Government, and I appeal to all men support and co-operation in his work for the common good of all."-British
Wirulon Service,
NO MORE "NASTY
MEDICINE"
Halibut Liver Oil
TASTELESS AND CONCENTRATED.
The Chemists' Exhibition, which opens at the New. Hall of the It would seem, therefore, that the Royal Horticultural Society, brings British Merchant Navy Stands into the end the threatening phrase urgent need of ships such as the "Nasty Medicine." No longer will suspended Cunard liner of the children: be coerced by threats, 72,000 tons, which it is no longer of cod liver oil: administered in a secret-bas been designed to break gigantic tablespoonfuls; no lon all existing speed records with ger will the dyspeptic or the in. handsome margin to spare. Until valid complain that he might be we posades such ships the foreigner restored to health if only he could will continue to pocket the richest the stomach his medicine. For the dividends on the North Atlantic chemists have so successfully put route and elsewhere.
their minds to the subject of elf- The following comparative totals minating the unpleasant taste and of first-class passengers carried appearance of medicine that the between Europe and the United taking of modern medicine is al- States during 1933 tell their own most in danger of becoming a
Cunard Line 10,993 White Star
8,471
Previous records were held by the late. Parry. Thomas 86.90 fortale the kilometre, and 100.71m.p.b. for the mile, and Kaye Don with 100.71-m.p.h--Reuter,
Conte di Savoia, which are obvious ly-reaping the benefit of the ad- vertisement gained by the Rex last August when she crossed from Gibraltar to New York at an average speed of 28.92 knots.
Norddeutscher Lloyd 22,668 These figures relate to a period prior to March of this year, after which date the political situation changed in Germany,
That the German line's first-class traffic should have been during that twelve months more than that of Lord Weir is understood to have the two British lines together was, advised the Government that, init is certain, due entirely to the his view, the mammoth her is a possession of the two record-break paying proposition. If, therefore,ing ships, Bremen and Surps.
HEAVY ITALIAN BOOKINGS
Moreover, returns just to hand show very heavy bookings by the new Italian express liners, Rex and (Continued, on previous ::Column),
be found feasible to restart work on the p ́ant Cunarder and to lay down a ater vessel, there need he little fear of a bad bargain. And, at the same time, Britain's prestige on the sess would received a much.
vice.
Take the case of cod-liver pil for instance. Cod-liver oil, the doctors very properly assure us has enormous health-giving pro perties, but there must be thou sands of people who would almost forego a return to health rather than endure a tablespoonful of it. The chemists have therefore con- spired to produce a new medicine having the same properties, but so highly concentrated that where a tablespoonful was needed. before, only a drop is wanced now. This is an extract of halibut-liver où, which is sixty, times ar strong as cod-liver oil, and is almost tasteless,
DISINFECTANT NOVELTY Then: there is the important
ARAKI'S PEACE RESTRICTION
PROPOSALS
OF
RUBBER
"Overcome
London, November 1,
Welcomed In German Difficulties may
Circles
.be
Berlin, September 1. The suggestion made by the The "Financial Times" Amster Japanese War Minister, General dam Correspondent says that well- are convinced S. Araki, for the convocation of informed circles
Conference, that the Rubber Restriction Con-
Far Eastern Peace
17 German semi-ference at Batavia on November 22
finds support official circles.
that
peace
will be able to smooth over the native difficulties.
Batavia cable opinions say the Conference will be the principal attempt so far to reach a regula-
The latter declare in the Orient is of the greatest importance, and also for States apparently got directly concern, ed with that part of the world.
tion of the rubber situation, which The Conference would be of the opinion is based on memoranda greatest value to overhaul the
by Government Commissioners in Nine Power Treaty and the Naval native rubber districts in Sumatra Treaties of London and Washing and Borneo to the Government ton and to bring Japanese policy which it is reported considers an within the framework of interna¦ ad valorem duty the most simple tional politics,
solution to the problem. The Japanese suggestion for a Nevertheless, there are local ob- non-aggression pact with the So-Jections against the proposition viet is considered most significant that the quantity of exportable in view of Japan's coolness when rubber should vary in accordance the Soviet proposed a similar pact with a fixed price schedule, which it is stated is most unsuitable to last year,
poor native rubber districts.
"
The Berlin Tageblatt" consi- ders that General Araki's plan is designed mainly to take the wind out of the sails of the Soviet Com- missar. M. Maxim, Litvinoff, when the latter goes to Washington to negotiate for American tion of the Soviet.-Reuter.
recogni-
The Conferetice will, therefore, endeavour to reconcile local dif- Aculties with the paramount im- portance of Government- interfer- ence in the industry.
The Dutch anticipation that the restriction scheme is crystallizing is borne out by the fact that Dutch growers are at present not conclud-
JAPAN'S NAVAL ng forward sale contracts beyond
PROPOSALS
Denied By Navy Office Spokesman
February-Reuter.
invented spraying material bas the additional advantage of keep- ing flies and. Insects away form cows while they are being milk- ed, and so prevent them from be- ing tormented at a morient when immobility and peacefulness are most required...
Tokyo, 'November 1.
It was stated yesterday that a Making an informal statement regarding the report that Japan is
similar preparation is. being prepared to scrap her submarines manufactured for use by human and aircraft carriers, provided beings, and will shortly be put on, other nations will do likewise, a the market. This will keep off spokesman at the Navy Office de-flies and mosquitoes, will have no clares that it is a gross misrepre- smell, and will not evaporate.
sentation of Japan's stand which
has not been altered since the Dis- armament Conference-Reuter.
This year's exhibition displays a hundred-and-odd chemical pre- parations which ought to relieve the housewife and the mother of many little unpleasantnesses hitherto unavoidable. There are all sorts of medicines "disguised " as
sarsaparilla, and lemonade.
barley sugar, butterscotch,
question of disinfectant. For many years chemists have been at work trying to devise 您 disinfectant which will be effective in dairies and in the sheds where cows. are
There are cosmetics which do milked without affecting the taste
not. "run" even under the heat of the milk Milk, as everyone of cooking over a fire or a stove. knows, is highly susceptible to There are hair-oils which do not odours in the air, but at last the stain pillows or cushions and experts have devised a disinfectant which yet impart a glossiness to which can be employed not only the hair. There are hair brushes in the dairies, without affecting and nail brushes which, while they the milk or butter, but which can claim to be as efficient as the actually be employed during that stiffest of bristles, stroke the scalp most critical period when the cows or the flesh with the softness of are being milked This newly- | slik.
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