COMMERCIAL" NEWS:
JAPAN "AND MEXICÂN: OIL... The Hamburger: Feudenbluti hay miviys a greedy sar för any rumous of tromblé between Japán and the Anglo-Saxons. It publishes an "indirect cable from New York stating that there has
been much anxiety in American circles, caused by the news that Japan has secured important petroleum concessiona in Merico. The Japanese, it 9875, sent a commitska" to Mexico to prospect and fo- sink experimental bores.
Following
од these investigations, the Mexican Government very glad to secure Japanese money and to destroy the monopoly of the English and Americans, sold to Japan til rights in the provinces of Durango and Chihuahua, and granted opportunities for explora- tion in etiver possible fields. The Standard Oil Company and the Pearson, group, seeing their in- terests threatened, have at once begun to excitą a revolution!
THE SHANGHAI MARKETS. Shanghai, August 2-Piece Goods: There is a much quieter feeling in all lines this week. wing to the extreme tightness of money, native interest being quoted at 21. The effect of this on the auctions has been to put the small 'dealer more or less out
f business for the moment and p give the larger dealer, with a certain amount of capital at his disposal, an opportunity to place; his own price on goods offered for sale. A general decline in all auction values is, therefore, a feature of the week's sales. dome stocks are also coming forward inore freely. and mer- chants are naturally taking what advantage they can of this to de- press the market. Practically no forward business is being trans- acted, the usual spring orders being remarkable for their rarity. Home quotations are still on the 42p-grade, with very little pro- spect of becoming stationary, not to mention a decline. With the considerable arrivals of silver chat are expected this month the market should be much easier. The conversion of what little free silver there is into gold, and also its absorption by the mints, has pushed native interest up to 21. the equivalent of 23 per cent. per annem. At Kungping's auction there was no great change from the previous week, the market on the whole being quiet. There sppeared, however, to be an increasing demand from Kiao- Chou and the Yangtze points. Several lines were down from one to two mace, but on the whole prices have not greatly charged. 211 packages were disposed of, 12 less than last week Ewo records anything but a brilliant auction, with a decline in most lines. BlackItalians were down from one to two mace. 10-lb. Greys had declined on the average two mace and Whites were easy. quantities disposed of were about the same as last week. Deliveries were fair. Yuen Fong Found
L general de- mand for goods, but a spírit of uncertainty existing among deal- era when it came to actual bid- ding. Greys, especially in the heavier grades, were better, Chinwangizo being a good sup porter. There was also a keen demand for Whites, which were slightly lower. Black Italians La declined from one to two Inace. The Korean market was quiet, and Changsha, where native interest is now exceptionally high, was entirely out of the market, although there was a brisk tope in other river ports. Clearances for the week were satisfactory. 275 packages were sold. Cotton:-The tight-
of money *ess
bas also had its effect on the cotton market, the prices for last season's' crop having been forced down in several instances. Apart from that, there is very little change in the market, and the business has been practically nil. New York quotations of the 29th quote $33.75 for October and $33.80 for Janu- ary, a drop of 180 points as com- pared with last week. Bombay Broach was quoted on July 28 at opaes 6i5 per khandy, with a squiet an arket. The climatic condi- ons in the Yangtze belt and in fke Hupeh province, according to Messra. J. Spunt & Co.'s report, continued anything but favour. able to the new · Besson crop, which fact coupled with the general expectations Eais year of about a 20 per cent. fawer yield than that of last year has practicals deterred LDY offerings during the week under reriew, font forward deliveries, furaby indicating the predica- ment in which the speculative Moment finds itself for the mo- Candy Accentuating- the not
■.
RETER
BRITAIN'S FINANCIAL: POSITION.
Landon, Aug. 2 In the House of Commons, replying to members en- phasising the seriousness of the "Enancial situation, Mr. Chamberlain danennoed the treasonable circles who WERE endeavouring by direct action to overthrow Parliament. The Government would take whatever steps were required thereanent. The situation needed the goodwill and active a assistance of the whole community. Expenditure must be cus down and production increased or we should beccine. nationally bankrupt. The Budget position as regards the balance between expenditure and revenue had become
seriously loss favourable than when the Budget was in- troduced. Many new and large items of expenditure had been sanctioned, namely pensions amounting to half the pre-war expenditure, increased pay for the Army, Navy and Police and bonuses for civil servants. Moreover there was a con- tinuance of the Ministry of Food, insoring its trading cup- Ital of £70,000,000 which consequently was not yet retur able to the Treasury. Mr. Chamberlain emphasised that next year would not become normal and foreshadowed fresh- taxation unless drastic reductions of expenditure were cffected. He appealed to the House to exercise the closest vigilance as regarded new expenditure. It was his policy to reduce and end subsidies as soon as possible.
Mr. Chamberlain emphasised the need of increaking production at reduced 'cost in order to get supplies. The adverse exchange in America was a danger signál and unless it was rectified shortly everyone, from the richest to the poorest, was in for a very bad time. The Government was determined to stop reckless waste, institute rigorous economy and cut down expenditure. There was no need for fear, The Government would be embarking upon B hazardous policy by nationalising everything. There was nothing in the situation beyond the nation's control given the wartime resolution, public spirit and unity.
Replying to Sir D. Maclean, as regards the Irish question. Mr. Lloyd George declared the Government would submit its policy to Parliament at the earliest opportunity after the PCCESS. He could not accept the Labourites' suggestion meanwhile to withdraw troops from Irelsad as the Govern ment's responsiblity for law and order was plain. The present national position was grave owing to the prevail- ing spirit of unresponsibility; but if everybody throughour the land put forth his best exertions as he did in wartime we should emerge triomphantly. He urged cutting down expenditure to the narrowest limits.
WAR REWARDS
London, August 6
In the House of Commons the Premier, in moving the resolution for money grants to the Commanders of the forces, cabled on August 5, emphasised that the British scale of war pensions was incomparably the most generous in Europe, aggregating to £98,000,000 yearly, half the rational expenditure before the war.
He urged that exceptional rewards ought to be given to those who had Lome exceptional responsibilities with exceptional suc-
CPAs
He tributed Earl laig's tenacity, dauntlessness and readiness to subordinate himself to the demands of his country. He recalled that Lord French' at Ypres fought with small forces one of the six decisive battles of the war, cover. ing the British Army with honour. (Cheers).
The Premier tributed General Allenby as the brilliant -Commander who won the last and most triumphant crusade. (Cherry). Sir Henry Wilson was one of the most" gifted soldiers Britain had ever possessed. His vision and gift of organisation were one of the greatest assets of Britain in the crisis of 1916. We were indebted to Sir William Robert- sos that the General Staff was so well organised and render- · ed such great service in, the war. General Trenchard's energs, daring and imagination made the Air Force a for. midable machine. General Hankey's services were known to few but were unsurpassed. They showed remarkable foresight with regard to the requirealents of war. He was indeed the organiser of victory. (Cheen) The Premier tributed the brillant leadership of Generals Plumer, Horne, Brog, Rawlinson and Birdwood without which it would have been impossible to turn the tide of battle in 1915. (Cheers). Earl Beatty had established fondly the supremacy of the British Navy. (Cheers). Lord Jellicoe's services before. and during the war were incalculable. Admiral Sturdee by the brilliant Falklands action rid the Pacific and the Atlantic of the German,railers. Admiral De Robeck's services were well-known and Admiral Tyrwhitt was the outstanding representative of the torpedo flotilla, whose ceaseless vigil- ance ultimately baffled the enemy's designs. (Cheers). Ad miral. Keyes `would live in naval history as the chief figure. of the Zeebrugge exploit. Admiral Madden had rendered invaluable aid in naval organisation. This was but a sinall part of the recognition we owed to these great men. (Cheers.)
Mr. Adamson moved a reduction of the vote to £200,000
to be divided in the same proportions as was proposed, on the ground that the grants were out of all proportion to the monetary rewards given to the rank and file. The amend- ment was rejected by 958 to 66.
Mr. Inskipp drew attention to the disparity of the amount. granted to Generał Birdwood, compared with other Army Commanders. Mr. Joyason. Hicks drew attention to the omis sion of the names of Sir Charles Monroe, who carried out the evacuation of Gallipoli, afterwards going to India as Com raander-in-Chief; also Sir Frederick Sykes, who was chief of the Air Force in the field. Mr. Lloyd George, replying“ to the Labour criticism, emphasised that £100,000,000 was, being spent in pensions for men and dependenta.
His Majesty has conferred the Order of Merit on Mr. Lloyd George.
The following is His Majesty's letter to the Premier:
Buckingham Palace, August 5
My dear Prime Minister. The honours and rewards to officers of the Navy, Army and Air Force having been sub- mitted to the Parliament, I feel my people will share with me the regret that it is not possible to express the nation's grateful recognition of the pre-eminent services rendered by the Prime Minister both in carrying the war to a victor ious end and áo securing an honourable peace. To rectify somewhat this omission and personally to mark my high appreciation of these services, it gives me great pleasure to confer upon you the Order of Merit. Believe me, yours very sincerely,
George, RI
THE PRINCE OF WALES:
LEGRAMS
AGAINST PROFITEERING.
London August a Siz Auckland Geddes stated at to-day's meeting of the Profiteering Committee that the Goverment proposed vstablishing a central anthority to deal with profiteering. Now powers would be asked for and penalties increased. The Gov. emment proposed to establish local Tribunals and County Appeal Tribunals similar to those under the Military Service Act to deal with profiteering by retailers in uncontrolled articles of daily use. They would be empowered to indict ines up to 90 or refer the case to a Court of Summary Jurisdiction which would be empowered to inflict penalties up to 5900 or four months' imprisonment. It also proposed to empower the Board of Trade when profiteering occurred to impose, serere penalties for breaches of the regulations. -The Governmat proposed there should be a Tribunal nader a chairman with legal training with a number of deputy chainen. The Tribunal would consist of representatives of trade organisations, including Trade Unions. It would sit in small paneks, each panel being under a chairman oz de puty-chairman and consisting of persons knowing the case to be investigated. Board of Trade regalations regarding · prices would be issued on the recommendation of the Tribal
London, Aug &
•
i.
The Prafteering Bill has been introduced in the House of Commons.
FOMENTING AGITATIONS IN BRITAIN.
London, Aug
Scotland Yard has deinite information that foreign money is financing agitations in Britain with the object of overthrowing the existing system of Government. A cer tain Swede who made a full confession arrived a week ago from Hungary with £6,000 It is alleged he delivered it to a well-known extremist. The latter denies receiving it and the Swede has been deported
NEW PARTY ORGANISATION.
London, Aug. ï.
Coalition Liberals have recently formed an organisation entitled the Liberal Parliamentary Party. Mr. George Lambert is chairman. It adopted its programme last evening the main features of which are free trade, no conscription, immediate Irish settlement and rigorous economy,
GERMANY'S MERCANTILE MARINE.
Berlin, Aug. 1. Germany's mercantile feet is at present 3,755 ships of 721,914 gross tons, of which 100 ships aggregating 133,673 tous, are over a thousand tous. This means a loss com. pared with: January 1913 of four million tons or over four- fifths of the whole mercantile marine What remains it is said is barely suffcien to carry on Germany's Baltie services.
PENSIONS INCREASES.
London, July 99.
The repart of the Pensions Committee recommends all- round substantial increases in pensions and allowances in accordance with the recent raggestions" of Sir Douglas Haig, including increase of the fat rate of total disability pension for single men to forty shillings weekly. It is estimated the increases will polve azi antraal expenditure of £13,000,000
DAKING AIR FEAT.
Paris, Ang 8.
A most remarkable and daring air feat was acco plished when French aviator Sergeant flew through the Arc de Triomphe at Paris. The plane was travelling at a rate of 140 kilometres an hour, the clearance between the wings of the plane and the sides of the arch being less than 15 fcet.
ECHO OF VERSAILLES,
Paris, Aug. 6
M. Chaleil the ex-Prefect of Seine Oise, who was dismissed, owing to the attack on the departing German delegates at Versailles, has been reinstated in view of the finding of a Commission that the incident was due to the Germans.
INTERESTING TAXATION PROPOSAL,
Paria, Ang Bi,
Among the taxation proposals now being examined by the French Budget Commission is one proposing that the taxpayer should have the choice either to pay annually or leave a fixed part of the estate to the State at death.
GUARANTEE AGAINST TRADING LOSSES.
London, Aug 1.
The Government has decided to set naider £25,000,000 as a guarantee to British exporters against loss in : trading operations with the new States in Europe and part of Enssia.
CANADIAN POLITICS.
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EARLIER TELEGRAMS
TRIBUTES TO THE FORCES
London, August £ in the House of Commons Mr. Lloyd George moved the notions cabled on August 5th. Referring to Marshal Foch he said his genius was recognised by friend and foe. The war could have been won without Marshal Foch but not in 1918-cheers) and what the winning of the war in 1918 meant to the world it was difficult to calculate. The grati tude of the civilized world therefore went out to him. (Cheats) The Premier paid a notable tribute to Mr. Asquith and Earl Grey for accepting the challenge of Prus sjanin in 1914, thus saving Britain from shame.. We had been a prosperous but a despised people had we not entered the way (Cheers) The way in which millions then rallied to the flag was one of the most thrilling and most inspiring episodes in the history of the world and would always be associated with the name of Kitchener. (Cheers). The daimilesatiess of these men ranked with the Iron Infantry of Marlborough and "Wellington on land and with the dazing seamen of Drake at sea (Cheers). Referring to the Mar- cantik Marine he said the horrors they sometimes had to bear were worse than the battlefield. Everywhere of land, sea and in the air the sustained strain on the men was beyond anything in history. Moreover we lought better and more formidably in 1918 than ever. He specially tributed the invaluable services of the women Regarding the con- tribution of the Dominions they had only to pursue the truly dazzling list of victories won by Overseas men to realise the greatness of their 'share. (Cheers). "We rejoice as much here as they do that through the valour of their sons they have won a permanent place in the fraternity of the nations." (Cheers). India's remarkable contribution, notably in the East, had won for her a sew claim to our «consideration; a claim so irrelistible that it ought and must overpover all prejudice and timidity which might stand" in the way of her progress.sers).
The Premier also alluded to the praiseworthy contribution of the workers and industrial leaders.
The Premier eloquently referred to the silent sufferings and agonies of the multitude of men and women who bore the rack and strain in their homes and concluded "All classes have suffered alike. No class can point the finger of re- proach at another. The nation whose men and women have shown sach splendid qualities in the hour of the country's need ball get together again in the case if a more subtle menace, to save the Motherland from danger. (Loud cheers) The motions, which were supported by the Liberal and Labour leaders,, were passed unanimously,
The House of Lords unanimously passed the same motion of thanks to the forces as the House of Commons. Lord Curzon, moving the motion, said this was not the first time Indian Armies had come to our aid. They had been fighting: bur battles in almost every part of Axis and Africa for at least half a centary. The million men who came from the Dominions were an inestimable moral asset, which was indeliby impressed on the conscience of the world. He might say the same of India. It could not be said that India bad not proved her loyalty. Indian troops arrived in France: almost in the nick of time and without them some of our greatest victories could not have been won. He also tribut ed the services of the Crown Colonies, and Protectoraten He said where they could not find fighting troops they found carrier and labour battalions for the front (Chegra)
"THE PREMIER'S HEAVY DUTIES.
Laindon
In the House of Commons, replying to criti absence from the House, Mr. Lloyd George' usid pressure of subjects demanding close study, the cas trade policy, profiteering, the agricultura and Ireland it was impossible for him to debates of the House daily. - Mr. Tả that the Government scheme for Ireland AS SOON 12 possible, but not before the re
COAL MINERS HOUPS
London, Ang a
The Prince of Wales has left aboard EM.8. Renown
on a tour of Canada and Queen, and other Boyalti
King
took me of the
Port month.
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