1926-01-29 — Page 6

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of

FRIDAY, JANUARY 29, 1926.

bound up in Innumerable to UNIQUE GENEROSITY

It helps forward the spirit of Locarno which has wrapped Europe in a mantle of peace.. And it. has bean obtained at no sacrifice of honour or "at the price of We may hope that bitterness."

BRITAIN'S SETTLEMENT

WITH ITALY,

(British Wireless Service.)

the Influence of it may spread AD "TO" ECONOMIC STABILITY, abroad, until its effects are felt. in those parts of the world where. misunderstanding and bitterness. ubound and where sweetness should prevail.

Rugby, Jan. 28,

TRADE REVIVAL.

EVIDENCE OF BANKING BAROMETERS

"ACTIVE" AND PROSPEROUS,'

(British Wireless Servios.)

Rugby, Jan. 28.

Mr. Walter Leaf, speaking as As was anticipated by Mr.

at the meeting of Winston Churchill, Chancellor of President Cure for Piracy,

Since

the the Exchequer,, in his speech shareholders in the Westminster the piracy on

of the Rank, pointed to the increase Tungchow" the Shanghai Press yesterday the terms has made recurrent references agreement with Italy, for the during last year in the amount to the subject of precautions furding of the Italian war debt of loans granted by the Bank to encountered its customers. This was. he Against future cutrages. Thus to Britain, have

Shipping and Engineering," in some criticism in certain sections said, clear evidence of increased Its latest issue to hand, deals of the Press which consider that, activity on the part of customers. with the subject of searches of in accepting £4,000,000 annually It proved that, in spite of all the passengers arriving in Shanghat for 62 years, the British Govern-evidence they had had of depres from Hongkong. These searches, ment has acted with unique sion in various most important branches of industry and com- carried

with meticulous generosity.

It is, however generally merce, there was still a very thoroughness, failed to any potential pirates or conces-recognised that politically the large area in which trade had ed weapons; but that fact must settlement represents an import-been both active and profitable.

SHARE OF WORLD TRADE not give rise to the impression art development in the economic that such searches are not use-stabilisation of Europe. It is less. If the pirates want to pointed out that so long as the Mr. Leat emphasised that we board a ship at any special port Inter-Allied debts remained un-were holding our pre-war pro- own export trade had fallen off the and get arms on that ship, they settled they constituted a barrier portion of world trade. Our in rather less ratio than world are going to do so, search or no to economic progress. search; but the knowledge that.

trade as a whole.

settled administration, and would thus become the really atable and progressive government the country has been wanting so

out

the

reveal

terms

"Count

I

NOTE ISSUE.

Dictatorship

་་

Denounced.

(Reuter's Service.)

London, Jan. 28. Mr. Walter Leaf, in the course, un-of his speech at the meeting of

Government so atrong morally that there da no limit to the good it might not accomplish for

PERMANENT GOODWILL. provinces at present under its

There will doubtless, also, be control, and who shall say for they are going to Shanghai

BANKS HELP TRADE. the whole vast repubile, if not by they may be subjected to a most general recognition abroad of the in, so. far 18

Mr. Leaf's reference to the example only, perhaps also by thorough search and be required fact that,

of settlement in increase in loan by his Bank of a maybe applied to other big actual away. The vision is a resy to give a full account of their the

past activities and future plans, volve the cancellation

Britain's British Banks, which also show one, but it is by no means fanciful.will certainly make them more large proportion of

Our contemporary claim on Italy, they express the striking increases in this respect. Armed with the sinews of state careful.

It is evident that the Banks any-permanent goodwill of Britain

prominent in the shape of increased revenues doubts, however, whether and supported by the goodwill of thing that is or can be done at toward the Italian nation. and have taken a very

the keen sense of the implication of share in facilitating trade. the parts will ever have the Powers, the Canton Govern effect of eliminating or

even comradeship in war. It is equal of thely beyond doubt that the settle possensing intellect and curbing the activities ment, youthful vigour, would

soonpirates. The only basic cure is ment is inspired by the clear acquire the seasoned, experience the destruction of the pirates in British perception of the essen- their lair at Bias Bay, and un-tal unity of European peoples in less and until this is accomplished the present condition of the they will continue to be an ever-world.

"QUIET SATISFACTION. present danger to every coasting

The Times" says: ship in Chinese waters. The Com- missioner of Police for Shang-Volpi and his colleagues of the long. To make all this come tre hai, in his report for December, Debt Funding Mission have de-} "Municipal served well of Italy in effecting i the Canton Government has only published in to muster up the courage or exert Gazette," says that the question settlement which is not the force needed to end the illegal of prevention of piracy such as generous and which is, so far as the Westminster Bank, said that activities of the strike pickets. that of the Tungchow"" is one can be judged, well within their the restoration of the gold stand- of great difficulty. The search country's capacity of payment. [ard had steadied trade and given the Here, generally, the feeling will confidence, but the return to When it can do that its star will

ing of passengers before

been undoubtedly be one of quiet satis-normality was closely linked to That Hongkong's steamer leaves port has begin to rise. star will also rise is an incidental found to be a complete failure fraction that the chief financial the whole foundation of our cur- Hongkong, and opinion is very question of outstanding import-rency system, and fundamental which, so far from discouraging divided as to the utility of the ance between ourselves and Italy changes must be made therein be- practical fore the financial position of the Canton Government the

be from segregation of third class pas- has been settled on a

considered The Canton Government, in a

of basis. Any disappointment that country could reply to the Hongkong Govern-seizing the present opportunity, sengers and the installation

The problem of the note issue, ment's statement regarding the should spur it into yet quicker wireless. In any event nothing may be felt here because the satisfactory.

which our banking was ly gained, by the Press in way to the consideration of prin-on strike negotiations, declares that it action, for apart from the benefit will be lost, but something posei-amount is not larger must give

under-founded, was acute and must that would accrue' to nearly a

Shanghai keeping the question of ciples loftier than those

two lying a purely profit and loss be solved within the next million Chinese in the Colony, the piracy still to the fore.

transaction. British policy in years. Parliament had surrender- the vexed question of war debts ed all control of the issue of has been animated by the broad notes to the Chancellor of the in fact, view of her responsibilities. and Exchequer. It had,

created a Dictator. It was high obligations." ON SHIP.

time that Parliament resumed The "Morning Post" says command and legislated in order INQUIRY IN SINGAPORE.

The settlement may be said to to bring the control of currency mark another step in the process under some recognised system. Details have now been given of of the unification of Europe. of The time had come when the

Hongkong, Friday, January 29, 1926,

CANTON AND THE STRIKE

is "ati animated by the same sincere desire to see an early settlement and is ready to con- tinue its efforts to assist the two sides." This

welcome makes hearing, Without the goodwill of the Canton Government, the Hongkong Government could hardly hope to achieve success

as

fact stands out as clearly CITY OF BARODA."

ever it did that the prosperity of the two places goes hand in hand.

That much fa mediator.

certain. Government is in a position to igrant a settlement if it chose, as some aver, or whether its handa

THESE WAR DEBTS.

HONGKONG PASSENGERS...

at

UNIFICATION OF EUROPE.

་་

TRADE NOT DOOMED.

trade

Verbal bouquets are "in abund-

which the arrangements on issue of currency notes should be ance over the debt funding agree-the Marine Inquiry, held

to the Bank of Cantonment between England and Italy. Singapore on January 20 into the cluded at Locarno were the be-handed over Whether the

Winston stranding of the s.8. "City of A free hand to Mr.

the North Luconia ginning, and, as it is to be hoped, England.

laid the stable, foundation of Churchill by the British Govern- Baroda" on ment has undoubtedly helped to Shoal on Christmas Day..

enduring peace. However friend- As has been stated the masterly may be 'the sentiments Mr. Leaf, in his reference to an arrangement which does not are largely tied owing to the unduly press on a partly impover (Captain Haughton) was censured, entertained by one nation to an- the increased activities by the lahed friend. For the time being for a grave error of judgment in other, the existence of an un-Bank's customers, said that it strength of the strike pickets. as let us join in the chorus of ap- not proceeding by the picked line determined liability between was necessary to protest against

outery that British others maintain, must remain toproval and trust that the agree shown in the chart but it was not them must be embarrassing to the

Friendship be- was 'doomed. some extent a matter for diepute.ment made will be honourably kept deemed necessary to deal with his both parties.

country Perhaps the Canton Government through the long years which must certificate.

happily remained unimpaired

QUALITY RECOGNISED. steadily does not itself know how it stands ensue before the anal instalment Little has been mentioned of tween Italy and this on and indeed has been Hongkong passengers becomes due. The suggestion has the in this respect. Thus it is hard often been made that all war debts board at the time of the strand-strengthened during and, since

America, ing.

the war and the terms of the British Rails in Japan, to judge the Canton Government's should be abolished.

The steamer left Hongkong and settlement are themselves proof the largest creder nation had statement as an index to the pros-many hints levelled at her, but sailed for Singapore vla Manila that any doubts. and misunder

(British Wireless Service.). standings which may have exist- pects of an early settlement being studiously refrained from listening and Cebu.

Passenger accommodation had ed have been dissipated." reached. The chief hope in that to them. The war was in the

Rugy, Jan. 28. interests of humanity therefore been secured by the War Office for NATIONAL DEBT INCREASED. regard is the golden opportunity let humanity be relieved as much Army officers (and families) re The "Manchester Guardian,"

More optimistic speeches were the Canton Government, now hasas possible from the cost of dis- turning Home from Hongkong in drawing attention to the gen made to-day by London bankers. of turning the present trouble to charging an obligation. There is After the incident cables passed to erosity of the terms, points out Sir Felix Schuster, speaking as good account by having it settled high sentiment about the sus and fro and arrangements were that capitalised at 5 per cent. President at the meeting of the gestion-but that is a War may made for the passengers to tran- the annuities represent à total National Provincial Bank, said wout of hand, Such a success 4 at times be a duty, but in the long ship at Singapore and proceed to sum of £86,000,000 which is to that Home trade had shown signs be paid in satisfaction of a debt of considerable activity. In re- that, besides bringing welcome re- run it is proved a bad business. England.

Lt. Col. Fitzgerald, R.A.M.C, of 2610,840,000. Italy is" there-gard to foreign trade, the latest lief to hundreds of thousands of It is the duty of nations to make

far war the very last resort. The was on board as were Lt.-Col fore, relieved of an amount of indications showed that a Chinese who

are suffering loss cancellation of all war debts would Dobbin, Mrs. Haigh (wife of Cap £524,840,000.

nore hopeful spirit prevailed, and hardship owing to the boycott, have meant one of several things.tain Haigh) and others..

"Britain's national debt is per-and that British trade was not manently increased by this only holding its own but showed would establish the Canton Gov-The lesson. of the costliness of war

colossal sum, for which an annual fair improvement. ernment in the eyes of the world would have been forgotten, and there would have been no check

service of £25,000,000 will have in a way it could not otherwise to the indecent haste to settle hope to establish itself, save only quarrels or misunderstandings - In by years of unremitting effort, the same old barbarous, way. We Thus in a single stroke the Canton speak generally There has been Government would make

a considerable degree of patience The Masonic Service to be held itself shown in the different debt in the Cathedral next Sunday recognised by the Powers as the funding transactions: No one can evening will be open to members of one governing body in China will be accused of indecent haste in the general public, as well as the said that the problems which the ence, have decided in future to ingto combat disorder for questing settlements and lasi masons. This paper has been remembers of the delegation faced wee only British rails. In other in offering them. Hardships there quested by the District Grand had been complex, and naturally quarters also British goods have nobody can say the boycott is must be Russia's liability is, Master to state that the correct the settlement did not meet come to the front, and the visit not grossly illegal and strong seemingly, a bad debt. Russia can dress for the service will to the wishes of either Government of the Prince of Wales to Souk enough to enforce its will. That and willions of pounds to estabMorning dress (that is, morning but the people of Britain and of America has already produced an agree-important and beneficial results." lish a credit against trade orders coat, or dark lounge suit) for Italy would welcome would be a gesture such as few but repudiates the work done in civilian brethren and uniform for ment which may be termed just. young governments have been her name during part of the war naval and military brethren: Dis able to make, and an opportunity years. It is a difficult question triet Grand Lodge and Lodge Of. which few would not seize with on which to dogmatise. The peace cers régalis will be taken to the of the world depends upon the Cathedral Hall for robing pur alacrity:

word of hations being kept. Easy poses. All brethren other that lation must lead to distrust District Grand Lodge Officers for this year and Lodge Officers for Etlin Vaar: quat het responsible for

ever recognize" them! The Interfonal Cleaners. will make these old clothes look

clean and new, everyone will think they've just come from the tailors.

Remarkable what our. scientific methods CAD ac. complish with last year's suit or wrap:) And it cost. o little to put new life and freshness to old clothes-

when you have it done by

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For what

result? The

boycott would

be the

the

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MASONIC SERVICE.

CATHEDRAL CEREMONY

DETAILS.

the Cathedral Hall In time for The Brethren will meet

Sir Felix Schuster continued: te be raised by the British Gov-“Above all, one is glad to "obu ernment in taxatiori."

serve that the quality, of British COUNT VOLPI'S VIEW."

goods is once more finding due The Italian debt funding dele-recognition, and it is pleasant 8ation left London this morning to learn that the Japanese author Count Volpi, in an interview,ities, after many years experi

COLOGNE ZONE.

ALLIED EVACUATION ON SUNDAY.

GERMANY NOTIFIED.

(Reuters Servicek

Paris, Jan. The Conference doratas, notified the

the Alli cuation of the Cologna zone we completed by midnight on Sunde

SECOND TO NONE.. Bir F. Schuster added: ASIL may be confidently, stated that the equipment and organisation of many of our leading indua, trial undertakings are now second to none in the world."

The President, Vie and members of the Cor

esident

the Hongkong Cymdeithas Dewi

are to be

bers and Wenh

John's Cathedral day, February 11.

6