1934-01-05 — Page 1

The

new

BEDFORD

TRUCK

U.S.

JAPANESE

THE

HONG KONG HOTEL

GARAGE.

FINAL EDITION.

China Mail

Est. 1843.

THE OLDEST - ESTABLISHED NEWSPAPER IN THE FAR EAST

SENATORS

SEEK BRITISH

AGREEMENT

INDIA COTTON PACT] RAISES HOPES.

JAPANESE GOODS CHEAP; BRITISH GOODS LAST

London, To-day, The Japanese Ambassador to London, Mr. Tsuneo Matsudaira in an interview with "Reuter,” yester day, on the Indo Japanese cotton agreement, thought that the atmos phere in which the Anglo-Japanese

No. 28,616

HONG KONG, FRIDAY, JANUARY 5, 1984.

PRICE $3.00 Per Month.

UNLIMITED

URGE

WORLD-WIDE STABILISATION OF CURRENCY FAR OFF

Internal Strengthening Of Nations Necessary First

SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telogen phic Message Ordinance, 189 ceived January 5, 2.12 a.m.)

Washington, To-day.

The White House has indicated that the internal structures of other nations must be strengthen- ed considerably before a concert- ed movement can be made toward world-wide permanent currency stabilisation, which is believed to be far in the future.-U.P, peg 8.C. Gold Bar Co.

Ru-

negotiations will now open are cir”

SLOW RECOVERY

more favourable than previously,

He expressed an opinion that there had been too much dispost- tion in Great Britain to blame Japanese competition for the bad tate of trade, and with a better bromise if trade in the New

PREDICTED

-

Dollar Will Be Reduced.

FREE.

MORE BILLS DRAWN UP

FURTHER

ACTION BY

ROOSEVELT?

DEMOCRATS PRAISE BUDGET.

SOME REPUBLICANS VOICE CRITICISM

•

SPECIAL TO CHINA

MAIL.

(By Telegraph, Copyright. Telegra |phia Metsages. Ordinance, 1206., Ro- {ceived January, 6, 10,45; a.m.);

Washington, To-day.

The United States Con- gress silver advocates, headed by Senator Wheeler, have sent to

ramore reasonable apirit BIGGER EXPORTS TO RUSSIA President Roosevelt a

Pied to prevail.

As regards the accusa tions of cheapness, the Am- basador remarked that bicycles at £1 and hats. at 1/id. would never Wear, whereas the Japanese like the British goods because they last.

were

Japanese Industrialists anxious for an amicable agree ment to avoid a disastrous tariff war that would spoil the relations

SPECIAL TO CHINA MAIL.. (By Telegraph, Copyright. Telegra

resolution for free un- limited coinage of sil-

phie Messages Ordinance, 1891 Rever at a legally es-

|ceived January 5, 4.51a.m.)

well-known United States econo-

Excess credit butstanding sug.

tablished ration.

Chicago, To-day. Senator Wheeler and Professor Harland Allen, the Senator King left the mist, forecast a very slow recovery White House satisfied, with inflation inevitable if the Senator Wheeler is op- business advance is too retarded.

timistic that President gests that investors will switch from Roosevelt is not through bonds to stocks, he did Pumps with silver, adding that The dollar, he asserts, is headed he expected silver legis- MIXED RECEPTION. lower because the Administration

will seck to force a price rise bylation at the present ses- IN LANCASHIRE.

currency manipulation, while the re- sion of Congress. covery programme depends upon ex- Price Advantage Feared.

with their old British friends, he

said. — Reuter, '

London, To-day, Despite the reaction to the Indo-Japanese cotton trade "agreement which was reached at

panded Government borrowing.

He sees better prospects for United "States" exports to Russia because of the higher Soviet grain harvests,

tenant C.BE Holme-Sunne

YOU BUY BETTER

BERNARDS OF HARWICH

Chater Road

GENTLEMEN'S OUTFITTERS.

COINAGE OF SILVER

place at St. John's Cathedral, yesterday afternoon, when Lieu-

Droyer, eldest son of Admiral Sir Frederick Dreyer, K.C.B., c-in-Chief, China Station, und Lady Dreyer, was married to Misa Marjorie of“ Captain B. Holmt-Sumner, CBE, RN, "and" Mrs. Holme-Sumner, of Plaxtol Kent, Group taken after the ceremony.

$54,000,000

FOR US, NAVAL

CONSTRUCTION

$316,000,000 Budget

MEN; AND MAY

Washington, To-day President Roosevelt yesterday! Mr. Scrugham has introduced in-asked the United States: Congress to the House of Representatives, for an appropriation of nearly U.S. silver measure similar to Senator $54,000,000 for naval construc Wheeler's.

tion, including new vessels apart The Democrats have" praised, New Delhi on Wednesday, some due to the non-intervention policy while some Republicans have criti- from the 32 vessels which will be quarters in Lancashire fear that in Cuba, he adds.

cised the Budget. Senator King constructed with a U. S. $238,000,- the tariff reduction will give The Brookmirs trade journal ex-moved a resolution to establish bi- 000 appropriation from the Public Japan a definite price advantage pects a rising Spring business and metallic coinage at a 16 to 1 ratio, Works fund. over Lancashire.

a substantial advance in securities plus free coinage of gold and silver. Other Industrialists, however, and utilities, which are subjected to]

The 1985 Budget provides kn welcome:

adverse political action, if political plus the extending of a 16 to 1.ra-allotment of U.S.$288,000,000. First, that the way is open to an interference lessens-United Press, tion to silver coins, United Press with which accrued balances car Anglo-Japanese meeting as Boon per S.C. Gold Bar Co.

per S. C: Gold Bar Co.

as the Japanese are ready,

Secondly, that the growing

Latin-American trade should gain

•

Japanese Imports to India wa HUGE BOND ISSUE

TO BE FLOATED

deinitely been limited.

Thirdly, that the Indian

Government is now free to con- clude an Anglo-Indian agreement regarding cotton and artificial|

Lancashire is all ready with plane. Reuter.

LOSS OF ORIENTAL

MARKETS.

Federal Reserve May Spend A Billion,

INFLATION POSSIBILITIES

ried forward, will put a totai of) U.S.$316,000,000 at the disposal

SILVER LEADERS of the Navy.

TO CONFER

Senator. Robinson Pessimistic.

An additional US$2,760,- 009 will be provided to In crease the personnel of the Navy from 79,700 men and 15,000 marines to 82,500 and 16,000, respectively. Estimates for Naval Air Forces are nearly U.S.$1,000,000 below SPECIAL TO CHINA MAIL

last year, but this is offset by a (By Telegraph, Copyright Telegra sum of U.S.$7,000,000 recently phic Messages Ordiganes, 189A, PRE

ctved, January 5; Lit a.m.)

"NO SILVER LEGISLATION. "THIS SESSION".

allotted from the Public Works fund which will permit the maintenance of a 1,000-aeroplane programme.

Washington. To-day.. In the United States Congress, yesterday, Senator Ashurst mov- ed a resolution for future issues London, To-day.

of Government securities subject However desirable the agreements to Federal taxation. may be themselves they can, at best, New York bankers and bond ex- -only canalise the cotton problem perts agree that the flotation of U. states the London Financial News S. $10,000,000,000 worth of Govern- commenting on the prospects of an ment bonds can be accomplished

The Army "estimates "Anglo-Japanese agreement. ~ without serious difficulty, probably.)

U.S.$294,000,000, which The old difficulty remains for through the co-operation of the The proposal follows the form US$10,000,000 above the estime Lancashire the newspaper declares. Treasury and the Federal Reserve, ation of a powerful silver bloc by

The most important of the great with the Federal Reserve buying U26 Senators, including Senators ate for the current financial year. Oriental markets which she grew up 18. $1,000,000,000 worth of bonds.

Wheeler, Borah, Thomas (Okla- The sum Includes an increase

Washington, To-day. The silver leaders of the United States House of Re presentatives are planning an early conferendo.

are

to supply, are either entirely self- Wall Street sees the possibility home). Thomas (Utah), Dill, of U.S.816,000,000 for the Ai

'supporting or activë exporters. of inflation, firstly, Federal Reserve Frazier, Nye and Shipstead, Force. Heuter.

The actual content of the Indo-credit inflation through the pur The bloc, has pledged itself to

MUSSOLINI AND SIMON

CORDIALLY AGREE

DISARMAMENT DISCUSSIONS TO BE CONCLUDED

ABANDONMENT UF ALL CONT

PROPOSALS;

ROME, TO-DAY.

THE BRITISH FOREIGN SECRETARY, SIR JOHN SIMON, AND

THE ITALIAN PREMIER, SIGNOR BENITO MUSSOLINI, ARE IN FULL AGREEMENT THAT THE DISARMAMENT | DISCUSSIONS SHOULD BE CONCLUDED AS SOON AS POSSIBLE WITH THE AB- ANDONMENT OF ALL PROPOSALS WHICH ARE UNLIKELY TO FIND GENERAL APPROVAL AND PROMPT REALISATION.,

This statement was made in a communique Issued affer, a ban- quet at the British Embassy here, Inst night, concluding two long cordial conversations." Only, those points should-be concen trated on which are considered right in international públic opinion, the communique adds.

Signor Mussolint also outlined proposals for reform of the League of Nations,

The banquet was attended by the Diplomatic Corps the leaders of Italian Society and the British colony. Sir John Simon is stated to be satisfied with his visit-Reuter,

MINE DISASTER

131 Now Dead In Pit: Explosion.

FOUR SHAFTS ON FIRE

Duchov, Czecho-Slovakia:

is officially announced that 131 miners perished in the coal mine disaster here, which was caused by an 'ex- plosion of fire-damp,

US. CRIMINALS PUNISHED

Crime Detection Improves.

JUSTICE DEPARTMENT'S REPORT

A BRITISH TRADE

WAR" WITH FRANCE

US. ALSO PROTEST AGAINST QUOTAS.

RETALIATORY MEASURES,

DISCUSSED

London, To-day.

British and Americair exporters are already up in wins against the French Government'""" drastic” new quota regulations, under which foreign quotas are reduced by 75 per cent, while 134 new categories. of merchandise, embracing many classes of goods, are subjected to quotas

The Federation of British In- [dustries met yesterday, afternoon and took an extremely grave view of the matter. It is estim ated that the orders will affect Britain to the extent of some millions every year.

* It was decided to refer the maller to the Grand Connell, with a view to deciding what retaliatory measures should be recommended to, the Bit- tish Government.

message from Paris states that the American Embassy {will strongly, profest against the

new quota changes. ---Router;:

JAPANESE AIR.

BOMBING

Planes Attack Liu's Positions

FIVE WOUNDED · MANT HOUSES DAMAGED

Peking, To-day. Chinese (elegrams from Hal- gan state that Japanese planes dropped three bombs on Tues. day at Calhcheng," the garrison district abandoned by Ger Liu Kuel-tang,

The reports allege that five par Bons were, wounded and several houses damaged, ve

The planes later flew to Rung-

chiachwang and dropped three more bombs. The results of the latter raid are unknown.

The Chinese Press credit the Japanese officials' explanation that |the raids were intended to assist the Chinese authorities in dealing with General Liu" - "Kuei-tang,Fand that the wounding of innocent per sons fa deeply regretted.Reuter

SIBERIAN MAILS.

Mr. Ito To Speed Up Delivery.

Washington To-day. Regulation of traise in machine- guns and other frearms and legisla- tion dealing with prison escapes in | urged by Mr. Homer B. Cummings, SHANHAIKUAN MAY REPLACE Secretary of the United States De partment of Justice in his annual

The explosion, which rocked the whole town, set fire to all four shifts, making rescue work ort

Heuter; impossible.

The report shows that kidnapping and racketeering In America - han increased tha' strain the 2 usti

NEW ANGLO-SOVIET De

TRADE PACT.

but that there

unnanal record crimes

Japanese Agreement is less impor- chase of Government Issues, and participate in a campaign on be TRADE DELEGATION Moscow Conversationsss housed sold bo

tant than the fact that an agree-secondly, currency inflation through half of silver at the current ment was reached, a failure would the issuance of Federal Reserve sion of Congress.

havi intensified competition and ill-bank-notes on Government obliga pag LEN

will, the paper asseria Reuter,

LOCAL DOLLAR RECOVERS

tions

Senator Wheeler Attention is directed to the bil. the lions of dollars seelding Investment, in the House

and for which the

would probably have

|In disposing bonds

FROM LATVIA.

Arrival In

Continue.

to Federal

tion)

137,000%

· DAIREN.

the span