HONGKONG DAILY · PRESS ⠀
CHINESE
DOLLAR STABILITY
NEEDED FOR BRITISH TRADE
CABLES
FIERCE
FIGHTING
IN SHANSI
CHINA'S LEGAL TENDER No Agreement JAPANESE CONTACT
POLICY UNCHANGED
ト
LONDON, July 20 (Reuter)-In a leader on the fresh break in the Chinese dollar, the Financial -News," referring to the question as to whether Britain should support the dollar further, says that the stabi- lity of the Chinese dollar is undoubtedly to "the in- terest of British trade and that Sir John Simon con- firmed, only a few days ago, that it was still the object of British policy.
While expressing regret at the On the other, hand, there could be no point in subscrib-present fall of the exchange value ing to additional resources if of the Chinese dollar as a result to do so were to throw them of the Japanese aggression and the into a bottomless pit."
The rapidity with which the original £10,000,000 was swallowed up suggests that this might prove to be the case under present con-
ditions.
EXCHANGE PROCEEDS As the exchange proceeds from -imports are falling into the hands of Japan, a large part of the original fund has, in effect, been handed over to Japan, while an- other large portion has been hand- ed" ever to facilitate exchange speculation and capital export.
Although the latter loopholes are now closed. It will still be necessary to Institute still more rigid control of imports to ensure that they are not paid for simply with Japanese,
currency.
Yet On Moscow Talks
PREMIER'S REPLY TO
COMMONS QUERY ·
LONDON, July, 20 (Reater) "I hope so," said Mr. Cham- berlain when asked whether the Moscow talks would be con- cluded in time to make an announcement before the House went into recess од August 14..
IN CENTRAL HUPEH
SEVERED
CHUNGKING, July 20 (Central) -The main theatre of war in South-east Shansi has now been shifted to the Changchib-Tyin- theng area, where Berce fighting is now proceeding.
in
EIGHTY MINUTES
TALK
CRAIGIE ARITA MEETING
NO CHANGE IN ATMOSPHERE”
TOKYO, July
20
(Reuter)—
communique after yesterday afternoon's conversations, which
Changchih was lost, to the Jap- anese on July 13. The Japanese The Japanese Foreign Office issued are continuing their drive south- wards from the town, encounter- Ing stiff Chinese resistance.
Another Japanese column, which lasted eighty minutes.
The communique stated that has captured Tinshol, Tungfeng-the general background of the chen and Yangcheng is now push-Tenisin situation was again dis-
Rear Cut Of
manipulations of speculators, the spokesman declares that this tem- We certainly have no agree-ng towards Taincheng. rorary slump and the difficulties ment yet," the Prime Minister involved in the purchase of imports added, when asked by Mr. Hugh will not seriousty affect the gen- Dalton whether they were
cussed, and the meeting adjourn- ed "to give time for considera-
The rear of the Japanese, strik- |tion.” any ing at Tunliu fr Hungtung along. eral Chinese economic situation. nearer agreement as a result of the Hungtun-Tuntu highway has He points out that China's domes- the frequent new instructions and been cut by the Chinese. the trade for exceeds. her foreign trade in volume.
The spokesman recalls that twenty years ago the American dollar was once lower than the Chinese dollar in value and one « pound sterling was worth' only tour Chinese dollars, and yet
neither the American Govern- ment nor the British Govern- ment showed any anxiety.
Government's Decision
리
transmissions.
STIFF ATTITUDE Following the morning's salk, a Meanwhile, the Japanese column Japanese news agency stated that it was "authoritatively understood Mr. Chamberlain replied in pushing into South-east Bhansi- the negative when Mr. from northern Honan along the that Sir Robert Craigie Informed Mr. Arita clearly of the stir Wedgwood Bonn asked whether Po Af-Tsincheng highway is now
beld information
at bay. be had
It has suffered attitude prevailing in Britain, but any regarding a proposal for a severe losses as a result of Chi-n view of his own manifest for conciliation, there was no reason Joan to Russia from Germany nese flanking attacks,
for pessimism.” of £25,000,000,
Report Studied
"Reuter'g" diplomatic
Town Recaptured
After the second meeting. the CHENGCHOW, July 20 (Central) same news agency stated that it
“authoritatively corres--Tsingfeng, southwest of Nanlo was
understood pondent understands that the in south Hopei, has been re- that there was no change in the report received from Moscow from covered by Chinese force. Sir William Seed regarding his The recapture followed clever
"Sir Robert Craigie maintained conversation, with M. Molotov has Chinese manoeuvres. While attack a conciliatory attitude, but stood been considered by the British tng the Japanese, a part of the arm on Britain's claim.”
Chinese "suddenly pretended to
Continuing the spokesman de- clares that the Chinese Govern- Provided that is done. further ment will continue to allot large | Government.
It is unlikely, however, that withdraw. As the Japanese left assistance might possibly achieve amounts of exchange to meet the its end. for currency conditions in demand for the import of essential any reply will be despatched this the town to give chase, the bulk China are still by no means chaotic articles.
Indeed. evening, or
until the of the Chinese deployed in the and it is sincerely hoped that a
The measures announced by the French Government has been con- neighbourhood broke in. At the same time, a detachment of troops way will be found to round the Chinese Government regarding insulted regarding its standpoint. difficulty, for the tone of Japan-port, and import and export ex-
It is expected that the delay in descended on the Japanese in the ese comments leaves little doubt
change early this month are cal-sending a reply will be very brief. rear, foreing them to nee. that withdrawal at the very mo-culated not only to facilitate the ment of the Tokyo negotiations will be interpretted as a sign of British weakness.
an-
HUA HSING BANK SHANGHAI, July 20 (Reuter) The Hua Hsing Commercial Bank issued ກ statement to-day nouncing that. It is prepared at any time to sell foreign currency to holders of its notes at the rate six pence to the dollar.
purchase of essential goods from abroad and increase Chinese pro- ductivity to meet the present de- mand but also to stimulate the
production of Chinese" export arti- cles and encourage export trade.
These measures, according to the spokesman, pre now enforced smoothly, and will increase China's economie strength and power of resistance..
SALVAGE
EXPERT'S
OPINION AT THETIS
INQUIRY
LONDON, July 20 (Reuter)The Thetis enquiry will be adjourned, after hearing further evidence by Captain HP, K. Oram, until it is known whether salvage attempta will
NEW REGULATIONS
successful BY PUPPET REGIME
be
||
Intimation to this effect was given by Mr. Justice Bucknili at -- yesterday afternoon's hearing. He said there was a reasonable prospect of the salvage being successful, and he wished to hear evidence from the divers, now engaged, who might be able to reveal new facts.
CHINA'S TENDER POLICY UNCHANGED CHUNGKING, July 20 (Central)
SHANGHAI, July 20 (T/Ocean) -The Chinese Government will con- tinue to maintain the legal tender-A fundamental reorganization of in accordance with its established the currency system in, the occupi currency policy which is compatible ed areas of Central China will be with national economy and ean brought about by a decree of the
A passage at arms occurred freely provide exchange for legt-Nanking (puppet) regime publish- timate trade, declares a spokesman ed here to-day which declares that between the Attorney-General and by a witness during the testimony by Yuan "riotes" recently issued of the Ministry of Finance in a
ina salvage expert, named Cox, who statement issued last night in re the "Hua Shing Bank" will "gard to the slump of the exchange future be a currency separate front worked on raising German war- "value of the Chinese dollars in the the Chinese dollar with which it ships in Scapa Flow.
had in the past been quoted at par. "Yuan" notes of the Hua Shing Bank" will in future be linked with sterling and will be quoted at
Shanghai market.
The spokesman says that this policy has been repeatedly reiterat ed by the Ministry of Finance and there is no change whatsoever.
pence "a "Ytan "
"TERRIBLE DISCLOSURE”
When the Attorney-General told Six Cux that the forward hatch of the Thetis was not fitted with fasten- The Hua Shing Bank furthering clips. Cox declared be was Since the start of the war, the announces that it is prepared to staggered. He added that his plan spokesman says, the Chinese Gov-exchange any amount of "Yuan" of salvaging the "submarine would emment has tried its best to pro-at this rate of exchange for foreign not have worked in view of the
Hsing the Chinese
dollar notes
cur-
I
The Attorney-General interposen and said that Cox was not entitled to make observations of that sort. He added that a phrase likɩ "terrible disclosure" was not just! fed, and would do a certain amount of harm to uninstructed people.
vide every facility for exchange. currencies and will, moreover. terrible disclosure.”. Prior to March, 1933, exchange exchange Chinese could be freely bought and sold at for "Yuan" notes at the official rates. Since then, as a re-rent rate of exchange. sult of the establishment of the
The Puppet "Yuan" Japanese-sponsored Hus Commercial Bank,
With regard to the stability of Government has been compelled to the Hua Shing Yuan, the director Japanese named impose restrictions on exchange, of the bank, a but alotments have been duly Okazaki, declared that the total made for all legitimate require amount of the "notes" in circula- tion on July, amounted to less than a million. The note circulation would, however, "be increased in
ments.
Japan's MovES
FUTURE TRIALS LONDON, July 20 (BW8) The In the meantime, Japan has re- sorted to other measures to under. order to make it possible for the Financial Secretary to the Trea- mine the legal tender. In addition new "currency" to replace the Chi-sury, Mr. Geoffrey Shakespeare, to Japanese army notes "of the nese dollar notes, several hundred stated in the House of Commons bogus Federal Reserve Bank, notes million of which were in circula-yesterday that "It has been de- have also been issued by the Hus tion in Central China. The "Yuan," cided that, pending a report of Hsing Commercial Bank, This has he added, must satisfy the rapidly the public enquiry into the Thetis caused a sudden increase of notes increasing currency requirements disaster, naval vessel capable of in circulation and greatly compil on the Yangtze regions. cated the Chinese currency. spokesman states.
the
The Japanese have also been purchasing foreign exchange with legal tender notes confis- ́cated from the Chiness people; "obtained in Customs receipts and squeezed out by various methods in the "accapled" areas. Consequently, there has béon a reduction in the amount of foreign exchange which would have been sufficient to meet legitimate requirements ordinarily.
Non-Essential Articles
Large quantities of non-essential
denied Although Okazaki that any political pressure. would be applied to support the new measure, Chinese Anancial quarters regard it as probable that the announced measures guaranteeing the stability of the new currency will consist in the control of trade in the de- cupied areas and in the enforc ed delivery of foreign currency to the "Hua Sbing Bank."
COUNTY CRICKET LUNCH SCORES
articles have been Imported. Great LONDON July 20
++
SOUTH TYROL EXPULSIONS
atmosphere.
FRIDAY, JULY 21, 1939; -PAGE 9
THE
HONG KONG
· PENINSULA · HOTEL;
KONGKONG HOTEL; BAPULSE BAY HOWALĄ
SHANGHAI
ALTOR. HOUSE; PALACE HOTEL;
HOTELS
LIMITED.
In association with the Grand Hotel de Wagons Ļite. Peking.
SUPPRESSION OF IRA. TERRORISM: NEW BILL GRANTS DRASTIC POWERS
LONDON, July 20 (Reuter)-In the House of Com- mons yesterday, Sir Samuel Hoare, Home Secretary, introduced a Bill giving further power to deal with the” activities of the Irish Republican Army and the Bill was read for the First Time.
In a subsequent statement on Parliamentary busi- ness, Mr. Neville Chamberlain indicated that it was necessary to pass the Bill without delay. The Bill, which is an emer- ! gency measure to deal with terrorism, contains IR.A. drastic powers with heavy penalties for non-compliance. The IR.A however, is not de- clared an illegal organization and no. action is taken on the Bill forį. necessitating passports for people
EXPULSION ORDERS
THREE POINTS TOKYO, July 20 (T/Ocean)-travelling from Ireland. According to the "Nicht Nich!" bert Craigle stresed the following the British Ambassador, Sir RG- give friendly consideration to all pression that England was giving way to Japanese pressure.
1-That England is willing to İgive friendly cansiideration to all the Japanese demands connected with the Sino-Japanese conflict, on condition that everything is avoided that might give the im pression that England giving way to Japanese pressure.
MOB VIOLENCE AT TSINAN
Campaign Against Britain Continued
PEIPING, JULY 20 (REUTER)- MOB
BRITISH ATTACKS." ON
PROFERTY AT TSINAN ARE KN PORTED BY JAPANESE SOURCES.
The B which will last two years, gives the Home Secretary the power to make orders of ex- puision against people who have lived "for twenty years or less in These state that yesterday, a this country and who have been arge Chinese "mob" entered the concerned in the preparation or offices of a British shipping com- instigation of acts of violence de-pany and wrecked all the furni- | signed to influence public opinion tore and equipment;
or Government policy in respect of Irish affairs.
3-That England would take TELEVISION"
into "consideration the changed
China situation in North
by deciding for herself the practical measures to be taken for settle- ment of points.
STATION
FOR
the various disputed BIRMINGHAM
any one-sided demands must be avolded during the present nego-
Two other British firma punšop's". and a fumber companyquickly closed the shutters of their pre- mises, whereupon the fb attack- ed them, but before much damage was done, Japanese gendarmes ar- rived and dispersed the mob.
Japanese reports state that Bri- tons from Kaiteng, believed to" number aix, who were recently
3-That the putting forward of LONDON, July 20 (Reuter)-Mr-threatened by the local Chinese Frederick W. Ogilvie, Director-authorities and told to leave by General of the British Broadcast-July 18, are preparing to travel to |'ing" Corporation, stated to-day the coast, but confrmation of this
that a television broadcast station has not been received here will be established in Birmingham,
Latest Moves
tiations.
ら
CLEAR ANSWER WANTED
in
separate
British feeling.
The paper adds that Mr. Arita
Hitherto the only station is in The Hsin Min Hui, the Japanese- told Sir Robert Cralgic that Japan must of course, insist on the de- London where the television pro-organised political party, is strip-“
that England cease all gramines have a range of 30 miles. ing by all means to stir up anti- mand actions which were hindering or The programmes are clearly pick- the Channel detrimental to Japanese military ed up by sets
Islands, BERNE July 20 (Reuter).The operations in China. Swiss Foreign Minister has
The question of Mr. Arita stressed that com- formed the Federal Council that promise proposals or mutual con- licence for television reception was under consideration, added as-cessions such as suggested by now the Italians have given an
Mr. Ogilvie.. surance that Swiss forced to leave England could not be discussed southern Tyrol will be com- during a discussion of fundamen- pensated fairly, and, not treated tal principles. worse than the German-speaking Japan wanted a clear "Yes or Tyrolians,
"No" from England.
Neutrality Issue Agitates U.S. Opinion: European Crisis Thought Imminent
WASHINGTON, July 20 (Reuter)-The decision to postpone consideration of the neutrality legislation has meant that President Roosevelt would be forced to call a special session of the Congress in the event of a En- ropean crisis developing between now and January next, according to Mr. Stephen Early, the President's Secretary, who told reporters that all the informa→ tion from diplomatic representatives and members of the intelligence service indicated the possibility that such a crisis might develop.
Asked whether President views from members of the Con-. communicating with a submarine, Roosevelt was going to take gress. whilst submerged, will attend div.
Senator Pittman said that there was a bellef among some persons that popular * sentiment la favour of Frest- dent Roosevelt's policy was growing and that he would get a much larger vote in the Congress at the next spasion,
器
The latest moves consist of "halfpage advertisements asking all those Chinese in British employ to leave immediately, and Chinese landlords to ean-. cel all house leases with Bri-, tons.
ARABS DEMAND. The notice adds that those who
RANSOM FROM ROOSEVELT
JERUSALEM, July 20 (T/Ocean) -Five Arabs killed and four wounded during several shooting affrays near. Tel Aviv.
fail to comply will be treated as disturbers of the effort to establish a new order in East Asia, and will be subjected to punishment," 4oge- ther with their families.
The threat is already having effects on the more nervous Chinese employees.
Bilaston Schools Attacked The Japanese-controlled press
schools,
charging them with cultural aggression."
An American missionary and his son were kidnapped by armed continues to attack British mission Arabs. The missionary was later released after the Arabs had given him a letter to President Roose- velt demanding a high ransom -The son is being held as hostage.
CORRESPONDENCE.
TIEN HSIA MAGAZINE
[To the Editor of the Hongkong Daily Fress"}
Sir,-In to-day's issue of your
Japanese reports declare that 21 Britons left Kalteng on July 17 after an ultimatum from the Chin- ese authorities there.
Japanese residents in Feip- ing held a mass meeting mate Inst.night and passed a resoču~ tion to "drive Britain from Asía."
esjeented paper, I notice tha War Material
there is an item of news inserted by you with the following head-"
Magazinė...... Hine Tien Hsia Publishers Firied for Lottery "Announcement.”.
Exports By United States
WASHINGTON, July 20 (Trans-
ing trials and a submarine wil the neutrality issue to the tow a type of marking buoy while country during his forthcom- diving so that her position. willing western tour, Mr. Early be made known. Civilian per- said: "I am certain that from sonnel attending diving trials will the time Congress adjourns be given the opportunity, which until it reconvenes in January, naval personnel already have, of the President will pray, as he making practice escapes in a tank has never done before in all
In case your readers may, ton- using Davis apparatus.
his life, that there will be no new crisis in Europe." "that should realized," he said, fase, the "Tien Hala Magazine," should any aggression by which is lā local fortnightly Some of the President's op-any Government take place in pictorial, with the Tien Hsta occan)---Wan maistui, to the total to the near future, such action will Monthly," I would like to value of $8,160,663, was exported General Ironside will inspect ponents seem fully prepared milltary establishments and attend debate the neutrality issue behave its effect upon the men state here that the two pub by the United States during, the a parade in Warsaw to-day after fore the country with the Presi-bers of the Senate and Congress lications have nothing to do with month of June, according to on-
ve- to such an extent 83 to cause one another. Tien Has Monthly," cial statistics just published. lunching with the Minister of War. dent. Senator Johnson, the He will probably fly back to Eng-teran isolationist, stated: "If the them to alter their present, views. pablished in Shanghai, but widely The chief purchaser was Great
according to President goes to the country, we to-morrow,
aggres- circulated in Hongkong and other Britain which imported $3,500,000 will go too and we will go on sion resulting in a widespread parts of the world, is in English, worth France came second with the slogan that This Country war, the President wil an- while the "Tien Hals Magazine," ($2,500,000, Fumante being "Mhird
doubtedly call a special Wants No War!".
session published in Hongkong, is in with $1,435,000. Then follow Peru of the Congrese not only to con- Chinese
the Netherlands Fast Indies land sider the matter of neutrality,
Argentines da The decision to give up the but also to provide any adminis neutrality fight for this session trative authority that might be bas ellcited a wide variety of deemed necessary.”
(Reuter) land. portions of them have been ship Lunch scores in County cricket Reuter. Ded to the "occupied areas. In matches are as follows:
spite of the Chinese Government's Essex. Lancashire 287 (no orders for their suppression, the play before lunch); Derbyshire . import has been continued. It is Hampshire 48 for 2 (no play to 133 for 9 v. Gloucester (no play understood that some of the con-day); Nottinghamshire. v. Somerset to-day); Worcestershire v. War- algumenta are for Japanese mit- to play t-day); Sir Juan Cahn's wickshire 100 for 11; Yorkshire 386 tary use.
XI v. West Indies 84 for 3; Surrey y. Sussex 158 and 47 for 1.
"Variety Of Views"!
"In the event of such
Wen Yuan-ning
Editor-in-Chief "Tien Hsia Monthly
Most of this war material con. sisted of aeroplanes and seroplane parts.