'
1
OVERNIGHT
NEWS PAGE
CHINA'S
Thursday,
HONGKONG TELEGRAPH
TOKYO CONFERENCE
NOT YET DOOMED
CURRENCY New Talk Said to
Tokyo's Interest In Slump
Tokyo, July 10. Foreign, exchange banks in Japan understand that the latest withdrawal of support from the Chinese dollar in Shanghai Is attributable to the vir tual collapse of Chungking's ccon- omle control in Central China.
They pointed out that the Chung king Government has been making efforts to bolster up, the crumbling legal tender and in a hope to arrest the heavy drain on the Currency Stabili- sation Fund has resorted to various
measures during the emergency
post two months Including the lowering ot the exchange rate from 8% to 8 enforcement of a partial moratorium and tightening of import control.
Japanese banking circles express the opinion that the present with- drawal of support by the Exchange Stabilisation Fund is designed to sustuin the Stabilisation Fund.
It is believed dificult to recover the exchange rates of the legal tender unless new credits are forthcoming from third Powers.-Domet.
Market In Hongkong
In Hongkong the Chinese national currency yesterday morning opened 35.00 (Lc. HK, $35.80 for every $100 national currency). The nates were in supply and declined to 34.74 at the close of the market in the after- lowest for the day, while the highest noon. The closing rate was the
was 35.80.
Be
Roosevelt Warns
Clarifying European Situation
Sir Robert L. Cralgie, British Ambassador and Mr. H. Arita, Japanese Foreign Minister, held their second conference in Tokyo yesterday morning at 9 a.m. to discuss the Tientsin issue. The conversation was suspended at 12.15 and was resumed at 4 o'clock in the afternoon.
It is believed that Sir Robert gave Mr. Arita a frank state. ment of Great Britain's views on the Japanese wishes to extend the scope of the negotiations to cover questions of general principle, though he emphasised the neutrality of the British Conccasion In Tlentsin and demanded protection for British rights and interests,
Unconfirmed Japanese reports say that British firms and residents in Tientsin have started preparations for evacuation In view of the allegedly darkening prospect of the Tokyo talks. London reports indicate that Mr. Arita has adroitly raised the whole question of British assistance to Chiang Kai-shek, However, he has not touched issues which might give Britain cause to seek United States Intervention.
A London dispatch to the New York Times says that the British Government desire to postpone the Tokyo conference until October so as to ascertain the prospect of the European crisis.
Tokyo, July 10.
Most Dangerous
New York, July 10, President Roosevelt has issued a solema warning on the dangers of the European situation at a confer ence of the Republican and Demo- cratic Senators at the White House "Just" "night," according to the New
York Herald Tribunë.
He stated that the European situa- tion was much more dangerous than Wat generally supposed, and that Hitler may provoke a war any day of the week any month,
The newspaper adds that as Arst witness in support of this thesis, Pre- sident Roosevelt was able to cite Mr. Davies the Ambassador to Brus- seis, who said to reporters, after he had seen the President, "I am not at all happy about the situation."
Mr. Davies, it is stated, painted a sorry picture of things to come in Europe, unless the United States In- tervened with all its moral forces on the side of London and Paris.
The President, it is understood, ald to the Senators that Congress by not considering the neutrality legislation would now risk being summoned back to Washington to a special session in the summer, should
break out in Europe.-Reuter,
Japanese pressure at the Tokyo talks. "In view of Britain's difficulties in Europe there is undoubtedly a ten-war dency on the part of the British Gov- ernment to minimise the danger pre- sented by the Japanese plans in the Far East.
Uller pessimism is not necessary regarding to the prospects of the Anglo-Japanese conference in Tokyo on the Tientsin issue, according to Informed quarters who claim that view with Mr. Arito, showed a con- and nothing could be more fatal for Sir Robert Craigie, during his inter-
"The flon is the emblem of Britain, cillatory attitude.
The Information Bureau of the the king of beasts than lack of wil Foreign Offlce issued a communique to make use of its formidable claws," this afternoon. It reads: "The second Interview between the Foreign Minis- ter, Mr. H. Arita, and the British Ambasandor, Sir Robert Cigle, was held at 0 o'clock this morning at the
Chinese Comment
Should Britain show an inclina- Commenting on the decline of the
tion to compromise at Tokyo, I Chinese dollar, the Te Kung Pao to-
would deal a fresh blow at British
already de day calls the attention of the people to
prestige, which has clined. the fact that as Shanghai has now
Britain's attitude at Tokyo will not fost its Importance as China's econ-oMelai residence of the Foreign only be watched by the Japanese but omic centre, the fluctuations on the Minister.
South also by Indians,
Africans, exchange market there have no im-
Robert Craigie sinted the Mussulmans, Arabs and Egyptluns, portant bearing on China's economic views of his home Government re-as well as other peoples all over the structure.
garding, the general questions form world. Trans-Ocean. The sharp decline cannot be ating background of the Tientsin tributed to the devaluation of the situation and Mr. Arita fully explain- legal tender, as the amount of its fed those of the Japanese Government, reserves remains the same.
Sir
"The conversation was suspended The journal enjoins the people in at 12.15 o'clock in the afternoon and Shanghai to remain calm and not to will be resumed at 4 o'clock in the
as to afternoon." give credence to rumours so afford the Japanese an opportunity to further disturb the financial situa tion. Strict economy should also be practised.
The downward side of the dollar is a natural phenomenon in the war the Sing Too Jih Pao declares.
Yesterday's fall, the paper believes, was due to the dumping on the Shangbal market of a large quantity
Taking advantage of the recess, the British Ambassador consulted Mujer G, A. Herbert, the British Senior Consul at Tientsin, who is visiting in Tokyo to asalst Sir Robert in the diplomitle negotiations,—Demci,
Scope Of Discussion
Tokyo, July 19.
Hankow Incident
Hankow, July 10. The dispute between the French Concession authorities and the Chin ese Special Municipal Government
the arrest by the over.
French Municipal Council police of members of the Central China Young Men's anniversary of been
the Lukuachiao incident, luis amicably settled through the good ulices of the Japanese Army's special service mission.
Association on the
Settlement of the dispute was confirmed as the result of the Inter-
collected in North China, and to the rumours spread by the Japanese with a view to undermining the Chinese confidence in the legal tender,
The Journal considers harmful the concentration of Idle capital in
of the Chinese Young Men's Associa❤ make investments in the interior in protection for British rights and in-tlon by armed police of the French _order_to_bulid_up_on_economic_base terests.--Reuter.
Municipal Council.
of Chinese notes which the Japanese It is believed Sir Robert ve Mr. view on Tuesday morning between Arita a frank statement of Groat Major Murakami of the Japanese Britain's views on the Japanese Army's special service mission and acting French wishes to extend the scope of the A. Reynaud, the negotiations to cover the questions Consul-General at Hankow.
It is understood that the French of general principle, though he eme phasised the neutrality of the Beltish authorities have agreed to offer an
Envoy's Warning
Washington, July 19. President Roosevelt's press secre statements on the neutrality decision tary told reporters that after reading it simply means that Senators are faced by the chances of a prolonged debute or filibuster. They would prefer to go home now rather than risk the chance of a new crisis in Europe with no Congress on hand." The New York Herald-Tribune says that Mr. Davies, Ambassador to Brussels, gave reporters a three point warning. First, that Hitler would soon seize Danzig unless restrained by American influence; second, un- pexation of Danzig will be followed | by a fresh partition of Poland, in which Hitler, and possibly Stalin, would figure; and third, encouraged by victory in the east, Hider would turn his attention to the western Powers and the long dreaded bomb ing of Paris and London would horrify the world.-Reuter,
New Central Regime
Nanking Politicians Said, To Favour Wang
Tokyo, July 19. Press messages from Peiping and Nanking says
that movement is
July 20, 1939.
Preventing Floods
London, July 19. Arrangements have been made under which Briksh engineers will stop the extensive floods on the Euphratem' by construction works near Ramadi, Iraq, to convert thousands of acres of molens water-fogged land into valuable agricultural areas.
The work, which will socupy four years and cost the Iraq Government about £100,000, will
bo undertaken In tho autumn by a London firm,
The scheme is to divert the flood water as a point about 50 miles west of Baghdad and co- ver them into Lake Habbaniyalı, which is the Imperial Airways base. Two canals will be cut as escape from the lake into the desert depression. The British materials wit consist mainly of cement and sluice gates, costing together £100.000,- Reuter
Special.
Neutrality Bill
PRESIDENT GIVES
UP HOPE Legislation Is Shelved
and
Washington, July 18. President Roosevelt has abandon- ed hope for the neutrality measure. The announceinent was made after # three hour conference between the Democratic Senate President and the Republican
leaders at the Whitehouse. Two statements were issued, Arst that "Senator Barkley said that the consensus on the part of the members present was that no action regarding "neutrality could be obtained from the Senate in the pre- sent session, and that the majority of Senators would concur in that view. Minority leader Senator McNary ex- pressed the same view and they agreed that the majority of Senate would consider neutrality beginning next session."
the
The other statement was, "The President and Mr. Hull maintained the definite position that failure of the Senate to act now, would weaken the leadership of the United States in exercising her potent Induence in the cause of peace among nations in the event of a crisis between now and next January."
At a press conference to-day, Mr. Stephen Early, Secretary xỏ the White House, said the previous slate- ments issued from the White House meant that President will not seek further legislation this
scssion Congress.
ut
this He explained that
decision meant that Senators, faced by the possibility of a prolonged filibuster on neutrality legislation, prefer to go home, risking a possible European crisis before Congress convenes next
Shanghul and urges the people to Concession in Tientsin, and demanded apology for the arrest of members afoot in China for the inauguration | Janupry,
there.
Concluding, the paper urķes Britain to continue her support of the Chinese currency because her com- mercial interests in this country will sustain heavy losses if Japan succeeds in controling the Chinese market Central News,
Hua Hsing Bank
Another Hour's Talk
of a new Central Government with Wong Ching-wel as Chairman.
Reports from Nanking Indicate The Chinese Municipality's com plaint of the confiscation of the five- that Mr. Liang Hung-chi, President Tokyo, July 19. barred flags by the Municipal Coun- of the Executive Council of the Re- Following their three-hour dis-cil police will be dropped, while the formed Government, told newspaper- cussion during the morning, the For-French Concession authorities will then upon his return from Tsingtan eign Minister, Mr. Hachiro Arita, and not interfere with peaceful move-where the Joint Commission of the the British Ambassador, Sir Robert ments by Chinese citizens in future. Provisional and Reformed Govern- Craigie, resumed their conversations-Domel. at 4.50 p.m. The meeting adjourned
at 8.10 p.m. until Friday.
communique Issued by the For- eign Ofee at 7.10 p.m, saya that dis- cussion of general questions forming ton was continued in the afternoon. the background of the Tientsin situn-i
The British Embassy also Issued a
Tokyo, July 10. It was authoritatively revealed that the Hua Hing Commercial Bank, only issue bank of the Reformed Government, has decided to discon- tinue its connecilons with the Chung- king currency and maintain an inde-terse communique. pendent exchange level in terms of pound sterling at 6d.
The authorities of the China Affairs Board on Tuesday consulted Mr. Takeshi Washio, Vice-President of
the lius Hsing Commercial Bank,
regarding the continuous depreciation
of the Chinese dollar.
claims.
Popular In Tokyo
Major-General Piggott Japanese Esteem For
ments hold its frth session, that he would fully support Wang Ching- wel's views.
He said Senators differed with Mr.
Roosevelt and Mr Hull-over-the possibilties of such a crisis.
He added that neither the Preal- dent nor Mr. Hull 1s as certain us the Senators that trouble in Europe is not likely to break out before next winter.
Is
Leaving to-day's Congress, Vice- President Gorner said Congress Mr. Liang said that the Reformed adjourning "soon."-United Press.
It was stated that the adjournment Government would shorly issue a formal statement clarifying its at-
date of Congress was not discussed at the meeting at which Mr. Cordell titude regarding the peace movement. Hull und Senators Garner, Barkley,
Domel,
Pittman, Borah, Manary and Austin were present. Mr. Roosevelt argued for a long time and manfully to sway the Senators to his viewpoint.
80-called
$600.000 For Propaganda
Shiukwan, July 19. that there was no change in the
hai states that the new bogus federal It was authoritatively understood
An intelligence report from Shang- atmosphere in this afternoon's Inter- view between the Foreign Minister
government headed by Wang Ching-learns that the President and Mr. Tokyo, July 19. and the Ambassador. The British
Major-General F. S. G. Piggott, wei will be inaugurated on October envoy, it is understood, maintained a British Military Attache in Tokyo, 10, when, it is stated, a conciliatory attitude but neverthe-holds a unique position in Japanese People's Conference will be summon-
cd, less stood firm for his Government's esteem despite the current whirl-
Wang's followers are now trying to wind", of un-British sentiment, the The decisions to suspend linking
solicit support from the Industrial up with the "Fapi" and establish an
Informed quarters point out that It Chuga! Shoppo declares. connot be said that any definite pro- Having spent much of his child-commercial, and intellectual organi- Independent exchange standard were
Tokyo as the son of a legal cations in Shanghal
Itoh, It is further learned hat: $600,000 cabled to the authorities of the Cen-es has so far been made, although hood
neither optimism nor pessimism is adviser to Prince Hirobuml
Major-General Piggott speaks Japan- by Wang to secure the favour It transpired that the "agreement" ese so perfectly that he is often mis- trade unions-Wak Kiu Yat Po. to wear lounge suits during the taken for a Japanese over the tele-
His recent visits to Tientsin parleys In view of the sweltering phone. heat, was faithfully observed to-day,
tral China Linison Office of the China | warrantable regarding the outcome veteran statesman of the Melji Era.] (Chinese currency) has been offered
Allaira Board and the Hun Hsing Bank authorities in Shanghai this morning.
Necessary measures to stabilise the new currency value are understood to be under contemplation. It is
understood that besides being a trade currency, the Hua Haing Commercial notes will hereafter be steadily ad- vanced in. ordinary circulation Domel.
Chungking View
Chungking, July 19.; Well-informed circles bere bellove that the sudden fall in the rate of the Chinese dollar is connected with the rumours current. in Shanghai and
of the parleys.
one.
motor-car
and
the
British and the paper
Mr. Arlta were a grey lounge sult, Shanghai was, according to while Sir. Robert appeared in a white Chugal Shogya, calculated to adjust
maiters between the Lady Craigie this morning accom-alleges, his efforts have falled to
Japanese in Chino, but panied Sir Robert in the from the British Embassy to the yield tangible results.
Major-General Piggott is also very the Foreign fond of eel and rice or "Unagai Minister, the seat of the conference. Domburi," a typical Japanese dish
Major-General Piggott is son of Sir Francis, Piggott, one time Chief Justice of Hongkong.
official residence
Domel.
of
Chungking Viows
Chungking,' July 19,
Hongkong concerning the alleged The Hankow Herald expresses the impending resignation of the Finance hope that Britain will not yield to Minister, Dr. H. H. Kung, as well as
with the rumours that the financial.
Trans-Occan.
Macao Silver Import
Domel.
Prestige Grows
Nuffield Gift
Establishing Teaching Unit In China -
of
The Washington correspondent Cordell Hull were emphatic that a risk of war existed in Europe. Their
ports of United States diplomats In view was based on most rellable re- the European countries.
well. The immediate reaction in informed circles in Washington is that the President will now carry the case to the people during his tour of the western United Stotes this ΕΙΠΑΤΟΣ. At the same time the Re- publicans are believed to be anxious not to be manoeuvred into a position of espousing isolation, which would give an advantage to the Democrats for the 1940 elections.
It is thought, therefore, that they
endeavour will
the to settle neutrality question arst thing at the next session with a free vote outside party lines.--Reuter,
Shelved Till Next Session
Washington, July 18. Persistent efforts to get action on neutrality legislation a the present Session of Congress have been abandoned by President Roosevell and Mr. Cordell Hull after discussing the situation with the Republican and Democratic leaders of the Senate.- Reuter,
London, July 19. towards an appeal by the Chinese Lord Numeld has subscribed £508
Red Cross to the British Orthopaedie which works. in, co- Association, operation with the British Fund for the Rellef of Distress. In China, for the provision of a teaching unit of 250 men to be established well be- hind the lines,
Lord Nuffield;
the who gives scheme his wholehearted, support, Adjournment In August A straw vote arranged by the says that it is proposed to send a
Washington, July 19. surgeon to this point, where he will
Congress is moving towards an Chamberlain's act as surgical director and instruct political prestige in Great Britain Is Chinese surgeons. The members of adjournment, probably the first week
and in August-United Press. Orthopaedic Association growing again,
Of the people asked 53 per cent. other medical, bodies not specialising backed up unconditionally Mr. in orthopaedies have already sub-l Chamberlain's present policy, while scribed. 21,400 (exclusive of Lord "THE NEW FRENOSI REMEDY. 43 per cent. were against it. The Numeld's donation) towards the remainder refused to commit them-£5,000 required. scives, un deshade B
London, July 10.
יו
the
advisor to the Chinese Government, take measures to put an end-so far Mr. T. V. Soong, will shortly pro-as it is able to do ao-to the spread- coed to London. "In officini quarters; [Iny of rumours calculated to nd- British Institute of Pubile Opinion however, these rumours, are declared | versely affect. Chinese currency.--|nhowed that Mr. to be without foundation.
Speculation regarding the possible outcome of the Anglo-Japanese negotiations in Tokyo has in all probability contributed to the fall
Shokki; July 19, of the Chinese dollar,atnice: it' in.
It is reported that a large quantity generally expected here that Britain of Chinese silver has entered Macho will adopt a conciliatory attitude and following the influx of refugees from
When the money, la, ralied, Lard that a compromise with Japan will Ste Yop.
Similar private plebiselles were Numeld added, Il 18 suggested that be reached which would, bave an According to an unofficial estimate, held by the same institute on pre- the man selected to go to China tho unfavourable influence on Chinese over $120,000 (Chinese currency) vious occasions and have nearly colled in the reports the Jones worth of silver has been brought always given a correct estimate of Emergency Rellet Surgeon, after the there, during the past two months the mood of the British public famous orihopaedic surgeon,- Sir
Robert Jones---Reuter, Trans-Ocean.
currency.
It is staled in political circles hare that the Chinese Government will Wah Kiu Yat Pop
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