1935-08-19 — Page 12

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NINETY - FIRST YEAR OF PUBLICATIONTM

HONG KONG, MONDAY, AUGUST 19, 1935

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DR. SCHACHT

CHANGE IN TRADE RELATIONS

**CHINA MAIL * SPECIAL

Koenigsberg, To-day.

A speech of the greatest significance on the German economic situation was given by the President of the Reichsbank and well-known economist, Dr. Hugo Schacht on the occa- sion of the opening of the 23rd German Inter- national Fair here yesterday. Added import- ance was given to the ceremony by the pre- sence of the Finance Minister, Count Schwerin von Krosigk, as well as a number of diplomatic representatives of the Central European States.

Dr. Schacht began by stressing the Government's interest WARNING IGNORED

in the welfare of East Prussia, and brought greetings on be-

Dr. Schacht

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half of Herr Hitler, in whose name and spirit, he said, German Gareth Jones Relieves HERO

unity throws out ever stronger roots.

"What makes my visit to-day specially enjoyable" con

tinued Dr. Schacht, "is the fact that on former occasions I have had to speak to you mostly of our anxieties, whereas this time, despite all the anxieties we still have, many of which unfor- tunately we make for ourselves. my visit is accompanied by a feeling of pleasure and hope.”

that of

Chinese Authorities Of Responsibility

REGRET EXPRESSED IN NANKING AND PEIPING

Shanghai, To-day. After expressing satisfaction timately interlaced with

Official circles in Nanking, ex- at the increased attendance other countries," continned Dr.

cannot remain pressing deep regret at the death from abroad at this year's fair-Schacht, "it Dr. Schacht went on to say: "At matter of unconcern for any of of Mr. Gareth Jones, declare that la time when certain circles intus. particularly not for me as Mr. Jones and Dr. Mueller were responsible for warned by the Chinese authori foreign countries are pleased to the Minister describe every window-pane maintaining the German economic ties in Kalyan that bandits were broken in Germany as a dis-machinery in working order: rampant in Inner Mongolia. Upon consequences are attheir insistence to make the trip grace to civilisation without what the pansing to reflect that, they home and abroad of disturbance they signed a pledge relieving themselves have broken more I have mentioned. It is indis the Chinese authorities of all should anything window panes than the world's pensible for the carrying out of responsibility political leaders can ever repair our economic, policy that conjuntoward happen to them.

BODY AT KALGAN with all their efforts for peace:fidence in Germany as a country.

FOREIGN DEBTS

at such a time I attach import-of justice remains unshaken." A message from Peiping states that Captain Millar, the British ance to declaring in the name of the Government that we have! Turning to the problem of Ger-Military Attache, is expected to the sincerest desire to carry on many's foreign debts, Dr. Schacht arrive at Kalgan with the body peaceful commercial and cul- said that he fully agreed with of Mr. Gareth Jones to-day."

one point.

at his Official Chinese regret tural exchange with all the na-foreign critics on tions of the world.

Inamely, that the foreign debt was fate is expressed here, but it is At a time when credit and imposing a heavy burden on the (nointed out that the Chinese au- confidence have almost disappear-Reich. "The disrespect of private thorities at Kalgan warned Jones enemies and Mueller against travelling in ed, we want to emphasise that property shown by our self-respect means respecting during the war and the indicting Chahar because of the rampancy others, that the assertion of our of the peace treaties have set of banditry, but they insisted on willingly characteristics does not bad example. The sins committed making the trip and mean the disparagement of those by the former enemy Governments signed a pledge absolving the of others, that an acknowledge in this respect may justly be Chinese authorities of any res- ment of the achievement of others characterised as the greatest bar-ponsibility-Reuter. can only help us in proving our harism in history. This systema own and that economic competitie and well-considered barbarism to a tion can be only won in the long is indeed far worse than the Germany's new economic policy." run by superior performance” American lynch justice or indivisj

dual lapses which may happen any-

Own

TALKERS CRITICISED

In this connection Dr. Schacht where.

I

considerable degree from {........

POLITICAL DEBTS

The speaker, going on to dis-

the trade relations, arrived at the]

criticised people who substitute "As a German I have no desireuss the causes for the changes in empty phrases for practical work, to initiate such barbarism conclusion that the principal rea- | declaring: "My fellow country greatly regret that Germany,

son was to be found in the fact men: to pass over the gravity of owing to transfer difficulties, is at that the machinery of interna- the task confronting Germany present not in a position to meet tional credits is not functioning, with cheap oratory, is not only her foreign obligations in full but owing to the political debts. senseless. but ons."

damned danger- I shall not cease to make every Touching upon the question of effort within the realm of poss-financing the Reich Government's

The speaker then also warned (bility to satisfy the claims, which, work-creating programme. Dr.1 the remaining 10 per cent.. who after all exist.”

Schacht stressed that the solution will never learn, the conscious 'FOREIGN MATERIALS

of this problem did not involve opponents and saboteurs to whom “On one point, however, I differ any sorcery or tricks, but that it Herr Hitler recently spoke very somewhat from my foreign critics, was simply being accomplished by plainly. "There is no room," he who like to express the opinion a stricter control of the entire said in the Third Reich for sethat Germany will not be able to financial and economic policy in a cret associations, even if they are procure the foreign materiala manner which was only possible harmless. Clergymen and priests which she needs. It is just one in an authoritarian State. He must confine themselves to spir-year ago since, with the consent of pointed out that the tax revenues itual ministrations and leave po-Chancellor Hitler, I proclaimed it had increased considerably owing litics alone; Jews must resign to be the principle of German to the improvement in the employ-! themselves to the fact that their policy not to buy more than wement situation, so that the Reich influence in Germany has gone can pay for and to buy first of all had been able to issue interest once and for all We wish to what is gently needed: Since bearing and non-interest bearing maintain our people and culture the proclamation of this so-called Treasury bills to a large extent.

ALL IN ONE BOAT pare and individual, demands new plan we have almost inces-

which the Jews have made for santly conducted negotiations with "Certain people," said Dr. their people ever since the first various countries concerning the Schacht, "are exhibiting a ten- mutual exchange of goods. dency to purchase securities,

erase.

HONGKONG BENEVOLENT questions must be found under any foreigis country is prepared to order to guard against the suppos

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“But the solution of all these I have not yet discovered that shares and assets of fixed value in the guidance of the State and exclude itself from these negotia-led danger of inflation. I believe cannot be left to uncontrolled in-tions. It is true that our trade that the Finance Minister and I already shown by the dividual actions which seriously relations with various countries have disturb economic life and have have shifted considerably, but just measures we have taken that we therefore been forbidden again this fact, Kas afforded many coun- and again by the Government as tries new opportunities for crest- well as the party authorities."

- ECONOMIC TASKSAA Dr. Schacht declared that would hold those who act undisciplined manner

if the execution of the and econ ale turks

economic He

to circamvent such

ing fresh markets in Germany for “Iz (their goods, and this has combză-

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