44
1i
HONG KONG DAILY PRESS, SATURDAY, FEBRUARY 13, 1937.
BRITAIN'S ARMAMENT LOAN
PROPOSALS
Press Holds Different
Opinions
"Daily Herald" Denounces The Decision
LONDON, FEBRUARY 12.
THE GOVERNMENT'S £400,000,000 DEFENCE LOAN PRO- POSALS HAVE HAD A MIXED RECEPTION BY THE PRESS.
The "Times" declares there is nothing unexpected in the an nouncement. There is no cause for alarm on -constitutional ground nor should the economic repercussions be serious. The amount to be borrowed is not likely to cause any undue strain on the national credit.
"1
The "Morning Post" emphasises
the need for retrenchment in MR. CHAMBERLAIN'S
other directions.
Describing the loan as "paltry." the "Daily Mad" declares that the Government should have stipulat- ed for at least a thousand millions #berling. The paper asserts that Germany is spending 1.200 millions eterling yearly on armaments.
Britain's armaments bill In the next Ave years is likely to be about £1.400 milions sterling and possibly the income tax will be in- creased in the coming budget by between three perce to nine pence. states the "Dally Express."
STATEMENT
£400,000,000 Loan Proposal
Mr. Neville Chamberlain
VOLUNTEERS FOR SPAIN
Labour Questions Lord Cranborne.
London, Feb. 11.
The leader of the Opposition, by private notice, questioned. Lord Cranborne in the Common on the progress of the Non-Intervention Committee regarding prohibition of "Volunteers." The Under-Secretary for Foreign Affairs after recalling the terms of the communique issued last night by the Committee. said: "I should ke to make it clear that His Majesty's Govern- ment fully share the anxiety which is felt in all parts of the House that a fully effective system of prohibition and supervision should be established with the least possi- ble delay. I can assure Mr. Attlee they have done and will continue
MARKET TAKES to do their utmost to this end."
NEWS CALMLY.
Mr. Attlee asked: "Is it not a fact that while these long-drawn-out, discussions are taking place the Italians are pouring men into the
Redemption Period south of Spain?"
Much Too Long
London, Feb. 12. Mr. Neville Chamberlain's state- ment regarding the methods of financing. the rearmament pro gramme forms the principal sub- jeet of discussion in the city, where a feeling of relief is express-
London, Feb. 11. Mr. Neville Chamberlain, Chan- cellor of the Exchequer, replying to a question from Major Attlee, the lender of the Opposition, #4- dounced that a defence loan would be raised, which would be redeemed that the doctor. at least has able in thirty years and which told the patient the worst. would not exceed £400,000,000, to be spread over five years.
any
re-
early
The gut-edged securities market, which is the most sensitive changes in monetary policy, took the news calmly, the prices covering some of to-day's losses. Nevertheless the long-term outlook for Government securities, though causing no alarm, is re- Provision would be made for re-garded in an unfavourable light. demption of the debt within thirty years.
DECISION DENOUNCED
The Government, stated the The "ally Herald" denounces
Chancellor, - proposed forthwith to the loan decision. The paper 8876 introduce a bill authorising the that it will place a much greater raising of capital, or alternatively part of the burden on the working the use of any realised budget sur- man by increasing the cost of liv-pluses, for defence purposta. ing, and a strenuous effort must be made to force the Government to adopt a positive foreign policy which will render this expenditure Unnecessary.
The News Chronicle" declares that the Government's decision is wrong in principle. The loan will help to drive up the cost of living. and Increase the likelihood of a speculative boom, to be followed by a sharp slump in trade.
The paper urges that this year's borrowing should be kept to the lowest possible figure, though this would involve, increased taxa- tion.
FRENCH WELCOME
The announcement of the loan is welcomed in France where it is believed that it is an excellent; thing that Britain is now looking to her own defences in order to be in a position to enforce peace, but A la regarded as disappointing that such expenditure is neces- zary,
BERLIN VIEW
Official circles in Berlin take the view that Britain is perfectly en- titled to adopt the measures she thinks it to strengthen her arma- *ments.
The spokesman declared that just as Britain must arm for all even- tualities so must Germany- Reuter.
Soviet Book Banned
Warsaw, Feb. 11. The sale or distribution of the Soviet Government's White Book on the
Radek trial, which has
The general experience of the inst twelve months, sald Mr. Cham- berlain, in no way relieved the ur- gency of our heavy task nor light-ments ened the cost of raising our forces to a proper standard of defensive strength.
Defence expenditure was grow- ing at a pace which makes it im- possible to meet it entirely from revenue,
I
Tearmament
Mr. Chaimberlain `expressed re- gret that, he was unable to state the exact sum which would have to be spent in the five years which completion of the programme would require.
The Chancellor again emphasised the necessity of control of the Treasury over expenditure, and ex- plained that the authority sought would not authorise the defence departments to spend money,
The whole of the proposed de- fence expenditure would have to be sanctioned by Parliament.- Router
Avignon Explosion
Paris, Feb. 11. Several houses in Avignon were partly demolished as the result of a severe explosion this afternoon. Four persons, suffering from mira culously slight injurica, have been rescued from the ruins.- TrantoreanNews Service.
been translated into ten languages, has been forbidden in Potand- Transocean Newa Service.
Annual Meeting Of Mine Companies
The dates of annual meetings or of the Philippine mining mist companies have been announced. Many of these meetings take place during February and March, Dates so far are as follows:
International Engineering Corpo- ration, February 15.
1.
Gold Pocket Mines, February 18. Itogon Mining Company, March
Coco Grove, Inc., March 1.
San Mauricio. Mining Company, March 1.
Ipo Gold, March 2
Benguet Goldheids, March 8. Maraman Exploration, March 8. Mindanao Mining, March 8. Maraman Building, March 12. Benguet Consolidated, March 0. Balatoe Mining Company, March 10.
17,
United Paracale Mining Com-22. pany, March 2.
Suyoc Consolidated Mining 'Com- pany, March 3...
Benguet Exploration, 3, Marsman and Company, March
Antamok Goldhelds, March 5. Facdal Mines, March 8.
20.
Gold Wave, March 10. Masbate Consolidated, March 12.
Union Distribution, March 13. Virac Exploration, March 15. Palidan Buyoc, March 16. Valley Placer, March 16.
I. X. L Mining Company. March
Marsman Developments, March
Mambute Gold, Máy Đi Cooperative Mines, September
M. P. Tranco, October 4. Crown Mines, October 4. North Camarines, November: 0. Mineral Exploration and Deve- lopment, November 20,⠀
It is pointed out" that the prospects of increased taxation, which is in no way minimised by the Chancellor's statement, may possibly lead to shifting or invest- to other and more pro- ntable fields. vast
Furthermore, the armaments expenditure is bound to lead to accentuation of price inflation which the Govern- ment can only hold in check by
means of interest level.
The main criticism to the scheme is directed against the length of the thirty-year redemption period which is held to be at least ten years too long since the effective
life of modern armaments is so small,-- Reuter.
GERMAN AVIATRIX FORCED DOWN Capetown-Berlin Flight
Berlin, Feb. 11. The well-known Gerinan aviatrix, Ell Rosemeyer, and her husband, Berni Rosemeyer, the racing moto- rist, had to make a forced landing about 12 miles west of Budapest this afternoon on the final stage of their fight from Capetown to Berlin. The cause of the forced landing is stated to be shortage
of fuel.-
Praniorena News Novince.
AIRLINER IN SEA
ון
San Francisco, Feb, 10. An airliner flying here from Los Angeles fell in San Francisco Bay near the shore to-day,
Coastguards searched vainly for any trace of the eight passengers and crew, who are presumably drowned.
Reuter's Bulletin Servión.
Lindbergh's Flight
Tunis, Feb. 11, Colonel Charles Lindbergh, and Mrs. Lindbergh landed at, Cart- hago aerodrome here this afternoon in the course of their flight to Egypt, Transocorn New Service.
Palestine Commission Site In London
London, Feb, 11. The Committee Room of the House of Lords was packed to- day, mostly with Jews, and hun- dreds were unable to gain entrance, when the Palestine Commission held its first, sitting in London.
The Commission took much evi- dence of Mr. Jabotinsky, repre senting the New Zionist organisa- tion, who said:
"We are facing a social earth- quake." And, beginning his des- cription of the conditions under which Jews had to live he declar ed: "I want to show you a picture of what hell looks like," Reuter
Lord Cranborne replied: "What is clear is that while there is delay which we all regret there are num- bers going on, expediting the proceedings of the Committee.”
Challenged to show that the Non-Intervention agreement was not complete. the Foreign Under- Becretary rejoined: "It has pre- vented the war from spreading out- side Spain."— British Wireless.
INSURGENTS REPEL ATTACK
Clearing Up Operations In Malaga
.
2.
OUR NEW ADDRESS IS
CHATER
1!
ROAD
(on the corner of Chater Road & Statue Square).
THE CONNOISSEUR COMES
TO
CALDBECK'S
NOW,
AS HE ALWAYS HAS DONE IN THE PAST, AND IN
11
OUR NEW AND SPACIOUS PREMISES WE CAN GIVE
HIM EVEN BETTER SERVICE THAN BEFORE.
SOUTH AFRICAN
ARMAMENT
Munitions Factory At Pretoria
Capetown, Feb. 11. The Union Government has started a census of the', nation's war materials. Important mea- sures in this connection are the
Imperial Chemical Industries algnature of an agreement with
for
London, Feb. 10 Avila states that a ferce attempt An Insurgent radio message from
to dislodge them from their post-the. erection of a munitions fac- tlons at Vacia near Madrid, com- tory at Pretoria, capable of pro- manding the Valencia, road, was
ducing ten million rounds of ma- made by Government troops, who, chine-gun ammunition annually for supported by tanks and artillery. the
British attacked in three waves twice in the morning and once at nightfall. The attackers were repulsed with great losses.
Use of the whole of South Africa, and the formation of a War Supplies board to discover what can be manufactured within the Union during times of war and
The Board will also plan, in con- sultation with the General Staff, should be con-
Another message, from Malaga, ¡ peace. reports that the Nationalists on the Malaga front were to-day en- and that they occupied Patanillas ducted in war-time so as not to gaged in clearing up the province; how mobilisation
paralyse the civil population.
and Cariama..
The Madrid Defence Council denies that the road between the capital and Valencia has been cut by the insurgents, but it admits that part of the road has been heavily bombarded.
The British Government has undertaken to supply the Union with one hundred modern Hawker and Hart-Beeste fighting aero- planes at £200 each, which is less than one-twentieth of their value, The British naval authorities are for delivery before April. 1938. .. willing to assist refugees to return The South African Air Force is to Malaga, as well as to transport building another nundred planes foodstuffs for the starving inhabit- | under Icence.-- unta.--
Reuter, Reuser's Bulletin Service,
MADRID OPERATIONS "
Avila, Feb. 11,-" The extension of insurgent operations against Madrid is fore-. scen here as a result of the im- proving weather.
SPANISH COAST CONTROL
Plan Discussed In London
London, Feb. 11.
THE
HONG KONG
PENINSULA KOTIL;
HONGKONG HOTEL; REFULAS BAT HOTEL;
&
SHANGHAI
ASTOR HOUSE; PALACE HOTEL;
HOTELS LIMITED,
In association with the Grand Hotel des Wagons Lite, Peking.
THIRD PLENARY
SESSION
RED ARMY AND STALIN
Moscow, Feb. 11. M. Stalin's appearance at the
Important Gathering centenary celebrations of the poet
At Nanking
Shanghai, Feb. 12.
Alexander Puschkin, at Bolshoi Theatre, together with Marshals Voroshiloff, Yegoroft and Buderiny is considered as evidence of the absence of disunity between the The stage, is all set for the third | Red Army and the Soviet Dictator. plenary session of the Kuomintang Reuter. Central Executive Committee which is the most important" gathering In the history of the Kuomintang. General Chiang Kai-shek, Chair- man of the Military Affairs Com- mission
HOPEI-CHAHAR VIEWS
Tientsin, Feb. 12. Mayor Chin Teh-chun of Tien-
and concurrently Presi- dent of the Executive Yuan, will tsin will go to Nanking this after- remain here under medical treat-noon by train to attend the thire ment until Sunday night when he plenary session of the Kuomintang will proceed to the capital by train.
Central Executive Committee to be held on next Monday, He is Lo- According 10 military headquar-
CANTON CHIEF
represent, the views of the Ropel- ters several Government attacks.
Well-informed circles here be Chahar Political Council, although on positions cutting the Valencia
Heye that all the personnel for the legally each member of the CEC. road have been easily repulsed.
coming reorganised National Gov-attends in his own capacity. Insurgent planes have bombed The sub-committee of the Non-ernment was fixed by General Mr. Chin's visit to Naniding is the Aragon road heavily. The trunk Intervention Committee to-day Chiang recently at Fenghua. Dur-significant, "for in the past days it highway leads out of Madrid and continued to discuss the controling his present stay here, General was reported that the Hope!- has carried beavy traffic. The at-plan for Spain, particularly that Chiang will not receive any callers. Chahar Folitical Council would the transport convoys— · tack caused much confusion among part of the plan which refers to mostly seekers of high offices. have nothing to do with the Kuo-
the control of the Spanish coast The leading provincial military mintang meeting. by foreign navies.
chief to attend the plenary session General Sung Cheh-yuan, chair-
Reuter.
ITALIAN AID AT MALAGA
The
Rome Explanation
It is admitted, however; that it is possible that there are unofficial Tallan volunteers among General Franco's troops, just as there are on the Government side.
to
em-
the
"
SHENSI SITUATION
Slanfu, Feb. 12. Having occupied this provincial Capital of Shens, the Nanking troops will not advance farther to pursue the Communist and prac tionary forces. No further move will be made until after the third plenary sesslor of the Kisomintang Central Executive Committee.
It is learned here that the
Among those attending the sea-in Nanking next Monday is man of the Council, is still, e- sion was the German Ambassador General Yu Han-mou, Comman- Journing in Tientsin and will not in London. Herr von Ribbentrop.der-in-Chief of Kwangtung pro-to Nanking for the Party con- The Committee, according to in-vincial forces who will arrive here ference formed quarters here, agreed that to-morrow. inorning aboard the Union News, Boylet Russian warships should German liner Gneisenau. Other participate in the control of the officials travelling from Canton on Spanish coast although several the same vessel are. Mr. Liu Wet- Rome, Feb. 18.. delegates declared that their recht, Provincial Commissioner of allegation that Italian spective governments were
Reconstruction, and Mr. Tseng troops participated in the capture phatically against this line of Yang-fu, mayor of Canton.- of Malaga is dented here, where it action. It is also declared that Onion News. is still omcially maintained that the proposal
divide
KWANGSI LEADERS there has been no official support | Spanish coast into several sections, for the insurgenta.
Nanking, Feb. 12. each, of which was to be controlled by the navy of one of the foreign aroused over whether Generals La Considerable speculation 15 powers participating in the plan. Tsung-jen and Pel Chung-hst, plenary session will make a politi was approved by the Committee, Kwangs Icaders, will come to thecal compromise
The Portuguese reply to
with Generals the capital for the Kuomintang gather-Chang Hach-liang Yang Hu- Committee's control plan proposals ing, althorgh it is reported that cheng and Miao Tse-tung, recal- was it will be recalled to the General Huang Hau-chu Chair-citrant military commandera. un-effect that the Portuguese navy man of the Kwangs! Provincial should be permitted to participate Government, is on the way,
Leut-Gen. Sun Wel-ju, er In the naval control of the Spanish
subordinate of General Yang Au- As a member of the standingcheng, has undertaken to assume coasts if the Soviet Russian navy committee of the Military Affairs the chairmanship of the Shens! is given the same privilegeTM
Commission, General Pel Chung- Provincial Government shortly. The naval control, it is said, will hal has to remain in Nanking most Lieut-Gen. Ha Chu-kuo is nego- be carried out in such a way that of the time.
tiating with General Ku Chu-tung. a report must be made to the
G.O.C. Nanking troops In Shensi, Committee if any ship, flying the
with regard to the future dispoel- flag of any of the powers taking
tion of the troops under General part in the plan, should enter any
Chang Hsueh-lang. Ho is a divi- Spanish port without a certificate from the Committee that the ship
sioner commander under. Chang and distinguished himself in re in question carries neither war
sisting the Japanese along the materials nor volunteers.---
Great Wall- Transocean News Service..
Union News.
The news of the capture of Ma- laga has been received with concealed joy in all quarters here,
Rentré: Bulletin Seencre,.
INFLUENZA TOLL
London, Feb. 10. The influenza epidemic is di- minishing. The deaths during the week ended February 8 totalled 976, compared with 1.155, for the week ended January 30. The lar- gest decrease is in London -- Henter's Bulletin Service.
Beveral official reports released here stated that the two Kwangs generals will come to the capital, but they are not yet confirmed by dispatches from Kwellin
The Kuomintang session will deal chiefly with appointment of several ranking posts- Caion News.