HONG KONG DAILY PRESS, FRIDAY, FEBRUARY 19, 1937.
CENTRAL RESERVE ARMAMENTS
BANK IN
IN CHINA
Leith-Ross Welcomes
Announcement
Assurance Of Confidence In Reforms.
London, February 18.
Sir Frederick Leith-Ross, interviewed by Reuter on the estab- Eshment of a Central Reserve Bank, said: "I am very glad to hear the announcement that the Chinese Government has decided to transform the Central Bank lato a Central Reserve Bank with con iral over the issue of notes, currency and Government funds. await details as to the charter, of the new bank, but assuming these give the bank adequate powers, its creation should greatly help to assure confidence permanently in Chinese currency reform and I welcome IL"
Banking circles are also favour.
ably impressed. It is assumed Cash And Carry"
that the Chinese Government re- serve the right to nominate some of the directors, thus retaining part control of the bank accord- Ing to the Increasing tendency of the Governments of all countries cxcept England,
The
t
#
DEBATE
Britain's Price
For Peace
London, Feb. 18.
The armaments debate › in the House of Commons was the prin. ciple topic in the press here this morning. In the majority of the papers, the new developments stated in the speech of the Chan- cellor of the Exchequer were analysed. The press is unanimous in declaring that Britain is arming against her will, and it is pointed out that the sum of £1,500 million which is to be spent for rearma- ment, is the price of peace which England unfortunately is obliged to pay.
Special prominence is given to Mr. Chamberlain's closing remarks that it must be a cause of Indig nation und shame to
every one that the civilised world, instead of adjusting Its d'fferences in
Neutrality Bill peaceful manner, arms itself prac-
United States Laws
- Tightened
tically to bankruptcy with gigantic expenditure. The Daily Mail" declares that, in speaking these words Mr. Chamberlain echoed the sentiments of every political ac-
The question of future note Issue in Hopel and Chahar arouses interest, but it is pointed out that this independence is theoretical rather than practical, since the northern provinces are obliged to keep a reserve of Governrhentduced by the Chairman. Senator notes to maintain the value of Key Pittman. their own issue... Reuter.
Washington, Feb. 17. Senate Foreign Relationstion in England.- Committee has completed conal- Transocean News Service. deration of the permanent "cash and carry" Neutrality Bill, intro-
SOVIET LITHUANIAN
AGREEMENTS
Berlin, Feb. 18. That the, Soviet Russian Mar- shal Yagorov submitted to the Lithuanian Foreign Minister a draft of renewed Borlet-Lithua- nian agreements which provide that the Soviet Union will deliver ammunition to Lithuania in the event of war. while Lithuania assumes the obligation to employ Soviet Instructors in the Lithua
dan air force, is asserted in a re- port to the "Angrif" from its Moscow correspondent.
The draft of the proposed pact, moreover, containa reference to the Memel question, according to the correspondent who declares that offelal quarters in Moscow
are following with keenest atten- tion the negotiations which Mar- "shal Yagorov is conducting with
the Government of Kovno,- Innauetan News Service
JEWS BANNED IN GERMAN ARMY
Berlin, Feb. 17. The Reichsminister of Interior, Dr. Frick, in consultation with the Reichsminister for Defence, Field Marshaj von Blomberg, has lasued 1 Dew supplementary decree con- cerning military service.
It is stated in the new decree
that "Jews"
CHANCELLOR'S STATEMENT
London, Feb. 17.
The Bill was amended by the
Introducing the Defence Loan Committee and
resolution in the House of Com- now provides, firstly, that loans and exports of mons to-day, the Chancellor of munitions to belligerents in inter- the Exchequer. Mr. Neville Cham- national or civil war is forbidden;berlain, said the real justifica-
RUBBER TREE WASTAGE
Amortisation Account
Advocated
More Vigorous Policy Necessary
London, February 18.
The need for the establishment of amortisation account by British rubber producing companies is stressed by the "Finan- cial Times" in a leading article. The Journal points out that the decrease or wastage of trees in the industry is likely to be considerable during the next twenty-four years, one authority actually placing the gure at 4,253,000 acres in the period 1931-61..
The paper recalls that when British producers undertook the rehabilitation of the rubber industry by means of the Stevenson Scheme, their Netherlands neighbours promptly planted up new areas, and asks whether this example is to be ignored by their Malayan contreres.
purpose, but in view of the leeway to be made up, 34d. would be more
correct.
Under the International Rubber Restriction Committee scheme, a company may plant ten per cent. of its area in any one year, but this privilege was only turned into account In comparatively few instances, presumably because of insufficient allowance being made in past years for the importantfully preserved. question of amortisation.
Some quarters suggest that Id. per pound was the correct amount to be set aside annually for-this
secondly, that other commodities tion for the loan was to be found FORMER KING'S
well
H
cannot be exported to belligerents in the unprecedented conditions untii ownership is transferred "which have forced this vast ex- from Americans to foreign pur- chasers; thirdly, that American penditure upon us," merchant vessels must not be Since the Great War. he went armed, and that citizens are for- bidden to travel in vessels belong-weapons have been invented, as on. enormous quantities of new
ing to belligerents.
All the provisions of the Bill will
as altered means of trans- become automatically effective port and equipment. Even the whenever the President proclaims Agure of £1,500,000,000 over 2 that a state of war exists. The period of five years, which it was President is also given discretion- estimated would be needed ary power to forbid American ships carrying any material the shinment of which might engan- zer american peace. Reuter.
MOTOR STRIKE IN FRANCE
Paris, Feb. 18.
for
armaments, could not be regarded as Anal, he warned. However, if circumstances allowed them to re- duce their programme they would be welcomed. On the other hand. If conditions again changed to Britain's disadvantage, they might And the figure estimated for de- fence did not represent the total that Britain would be obliged to spend.
FINANCE
Legal Adviser To Visit Vienna
In conclusion, the paper states confidence by those responsible for that there is no cause for lack of
the welfare of the rubber planta- tion industry, for cannot be imagined that it will not be care- Evidence, how-
ever, -points clearly to the de- strability of a more vigorous policy In the matter of tree wastage.—
Reuter
MACHINE
GUNS
ON TREES
Spanish Battle In Olive Orchards
London, Feb. 18.
Salamanca, Feb. 18. The legal adviser of the Duke of The early morning air attack on Windsor, Sir Walter Monckton, is the Catalan town of Lerida on expected to go to Enzensfeld Thursday indicates that the Na- Castle near Vienna over the week-tionalists are now pursuing # end to discuss the impending anancial arrangements with the former King.
The question whether Parlia- ment will grant the Duke an al- lowance, or whether the Royal
own
Family will have to provide the necessary funds from its means, is stil unsettled.
Since the Civil List of the new King will be submitted to Parlia- ment within the next few weeks, the Government wants to clarify the situation.
tions with Government quarters.
Sir Walter had lengthy conversa-
A general strike affecting about 14.000 workers broke out on Wed- nesday afternoon at the automo-Mr. Arthur Henderson who asked Replying to an interjection from bile works at Sochaux. following whether Britain would be fighting the transfer of one worker to an- other work. The workers occupied of collective security, Mr. Cham- her own battles or forming part the works, and the sub-prefect berlain said it would not be in the succeeded only after lengthy ne public Interest to state, in theory. gotiations to induce the workers whom they were going to fight, or to release the managing staff de- who might be their allies. The state, and as far as is known; he tained in the offices.
directed against any power
plans were not or group of powers. but it was the Governments duty to submit a programme necessary for the na- tion's safety and the fulalment of its obligations.
Five hundred workers at Anzin mines In Denain entered into a strike demanding a 15 per cent. are not allowed to wage increase.
Since the strikers serve in the German army. Every mostly belong to the rallway staff recruit has to sign a statement, of the mines, the entire personnel that the examination of his racial had to stop working- antecedents did not reveal any- Transocean News Service non-Aryan blood. Should thin statement prove to have been false, the recruit will be immediately dismissed." The term "Jew" will be juristically determined by com- petent authorities.- Transocean News Nervice.
SOVIET BORDER CASUALTIES
Bodies Of Victims Exchanged
Moscow. Feb. 17.- The bodies of eight Japanese private soldiers and one captain, which were pleked, up in Russian territory following the border
clashes of November 24 and November 25, have been handed
"
DANZIG POLICE ARRESTS
Danzig. Feb. 18.
A recruiting offee for volunteers
Government's
The Treasury would raise the money it required either by the issue of treasury Bills or various other forms of loans, with or out sinking funds.
SAFEGUARD TO PEACE Mr. C. R. Attlee, leader of the
for service in Spain was discover-Opposition, asserted in the House
to
ed by the Danzig police. The office had arranged for the trans- port of 300 men via Poland Spain. Numerous arrests have been made.- Y Tramancean News Servicc.
GOERING LUCKY AT SHOOTING PARTY
Warsaw, Feb, 18. Unusual luck attended. General Goering on the first day of the over to the Japanese military au-Moscicki at Balovicza, his bag State shooting party of President thorities near Pogranichnaya. bag including three wolves and This followed a request from the two wild boars. The total shoot- Japanese Government.
ing brought ten additional boars and three lynxes.- Transoftan News Service.
At the same time the Japanese handed over the bodies of two Russian soldiers killed on Novem- ber. 28.- Reuter,
SUPREME COURT REFORM
Washington, Feb. 17. The Executive Councy of the Federation of Labour has officially endorsed Preeldent Roosevelt's proposals regarding reform in the Supreme Court.---- Reuter
CONGRESS PARTY. MAJORITY
Lucknow. Feb. 18. The Congress Party has secured a clear majority in the elections in the United Provinces, having won 128 out of 215 seats so far reported on.
The total of seats in the United Provinces is 223- Reuter
į
The Duke of Windsor at present does not draw anyth ng from the
does not own a private fortune of any considerable, amount. It is generally thought that, should the former King express this dealre, allot funds to him- the British Government would
Transcream News Servic
House.
polley of attacking on a large area, thus not permitting the Reds to concentrate on the Madrid front.
A battle is waging hotly at the Jarama front, and the Nationalists have succeeded in advancing six kilometres in one drive in the early morning. The battle is go- ing on in olive orcharda, which cover the whole area, and the Reds have even placed machine guns on tree's.
20 kilometres of Alcala de Frares. The Nationalists are now within
--Transocean News Service.
day
SURPRISE AIR RAID
Paris, Fet. 18.
A surprise air attack on Madrid was carried out early on Thurs- morning according to re- ports reaching here. Considerable damage was done,, especially in the residential districts. Numerous houses were set are and destroyed, First reports indicate that eleven persons were killed and over 60 wounded. But it is feared that the toll is much greater. The oc- cupants had no opportunity to evacuate the dwellings, since the attack came without warning.
Legation was hit by a bomb and The Bulding of the Belgian
damaged slightly, but was for- tunately saved from destruction, since the bombi did not explode. Frantocean News Service.
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SOVIET CREDIT FOR WAR MATERIAL
Paris, Feb. 18. The Soviet Government opened a credit of £1.7 million for the purpose of buying Soviet war material for the Valencia Govern- ment, the "Echo de Paris" learns. The credit la covered by gola bullion of the Bank of Spain, which arrived at Odessa aboard the Spanish steamer Santa Tome.
ing to 1,030 kilogrammes
A consignment of gold amount-
transported by a plane of the Valencia-Paris route to Toulouse. -Transocean News Service.
Was
JAPAN'S BUDGET
CRITICISED
London, Feb. 18.
The budget was strongly criticised. in the House of Representatives by the former Minister of Justice. who stated there was no necesalty for Japan to rearm, but 'should
non-aggression conclude
pacts, with the United States, Britain and Soviet Russia.
He also condemned the Army for taking too much interest in politics and urged the people to leave the Army and become politicians.-- Reuter.
Graving Dock
At Singapore
One of Britain's most carefully guarded secrets is the future of the Seletar naval base at Bingapore, where the graving dock designed to take ships up to 50,000 tons will be completed in July, states the "Bulletin" (Glasgow). But Japan has apparently no illusions regard- ing the base's place in British strategy. and only the other day Mr. Arita, Her Foreign Minister, declared his Government's inten Mon to further friendly relations with Britain, particularly by means of a naval limitation pact
capable necessity. The however, must be satisfed it was getting full value for its money and that the Government was pursuing a policy of peace which would make a substantial part of that the loan was essentially a nis great armament expenditure war measure. This was funda- unnecessary.—— mentally untrue, sald Mr. Cham-Deuter. berlain, for the Bill was actually
DOMINIONS' DEFENCES considered by the Government a
London, Feb. 17. eafeguard to peace.
No-one, least of all the Chan- the Labour Opposition criticised. Replying in inë debate in which cellor of the Exchequer, could see the defence loan, Mr. Neville the growing accumulation of bur- | Chamberlain declared that Labour
Singapore, Feb, 18. dens without feelings of disgust had not answered his question
Singapore is very interested in and, shame that civilisation was with regard to whether its mem- and assumes that substantial sums Japan hopes that one day Britain
the British defence programme.
It is hardly to be disputed that instead of trying to settle its own extent of the programme of re- preferring to break its own back bers did or did not challenge the will be spent in fortifications and will be so differences by give and take. For armament. The White Paper, he pore and Penang and construction to defend her territories in the embroiled in Europe. aerial defence measures in Sings- that alie will be unable adequately nothing else but set their teeth the proposed the time-being, they could do said, emphasised that much of of aerodromes in Malaya and Pacific, where the Japanese race, they could not afford to lay aside. and go forward with the measures
expenditure WAS
Sarawak,
which has found the climate of It la expected that the British Manchuria inhospitable, may find Referring to the Domlalons, he scheme will bring good prices to room to expand in the sun. Mr. Pethick Lawrence voiced said there was no intention to Malayan products such as rubber Labour's opposition to the E400.- suggest that Britain had any right and tin-
For years Japan has cast 000,000 loan, contending the policy to call on them to make any con- Reuter's Bulletin Service,
envious eyes in the direction of of innation created a disguised tribution to
the empty spaces of thinly popu- tax which fell upon some backs fund. He pointed out that the a. common defence
lated Australia, which, worried by least able to bear it, and left the Dominions had spent a great deal
the face of events in Europe, is people fettered to debt for years to come.
defences and that was their com Sir Archibald Sinclair, Liberal tribution to the common fund. leader, said that his party would There was no other form of con-" support any armament measure tribution of which he was aware the which the necesalty was prev-being discussed at present. Mr. ed. The policy of the dictator Chamberlain said. countries had made much expen- The House adjourned at this diture on rearmament in Britain point evil and dangerous, but an ines- Reuter
non-recurrent...
be completed at the end of 1939 at a cost of more than £10,000,000.
Such a scheme was in the alr before the Great War and after- wards, but was pigeon-holed before. the Washington Conference (1921- 22), which resulted in a naval peace that lasted until last year, when Japan walked out-of the- London conversations because Eri- tain and the United States were unwilling to grant her equality
Now the Pacific fleet scheme may he revived, it only because something must be done with the costly Singapore base, and "it" is expected that the question' will be. dealt with by the Imperial Con- ference, which opens in May.
the
It has been pointed out that nearest British battleships- being stationed at Malta, 8,000 miles away, the combined naval forces of the Dominions and the Mother Country in the Pacing. would be unable to resist any fleet that contained battleships-E of the four or five powerful battle- The completion, early in 1940,
a burden of of money on improving their own HIGH COME. ISSIONED only now beginning to improve herships already scheduled for by the
IN PHILIPPINES
Washington, Feb. 17. Mr. Paul Vories McNutt, a form- er Governor of Indians, has been
as High Commissioner of the nominated by President Roosevelt
United States in the Philippines fenter
defences
IMPERIAL CONFERENCE
DISCUSSION
that,
Naval experts believe Britain, alive to the potential danger of Japan, intends to form & Pacific fleet with Singapore as headquarters, the whole of which, including fortifications, is due.
Home Government would, It. 1s stated: release a similar number of older capital ships for possible duty in the Pacific. The Imperial whether the present China, Aus Conference is expected to discuss tralian, and New Zealand cruisers, destroyers and submarines should become part of the Pacifc fleet or retain their present status.