1937-10-28 — Page 24

FLIGHT OF CAPITAL TO HONG KONG

Shanghai, To-day.

GOVERNOR'S

HE CHINA MAIL, OCTOBER 28, 1987

GOVERNOR'S PLEDGE:

CONTINUTY OF POLICY STOP PRESS

(Continued from Page 1)

CONTINUITY OF POLICY

gotten throughout the British Empire as, no doubt, you are aware, a very strong sympathy with this Colony and In one thing I count myself espe an equally strong admiration of the cially fortunate, and that is that I fortitude and energy with which they follow such a Govenor as Sir Andrew have been met, and these sentiments Caldecott. He and the policy which Fears of the detrimental eco-have been deepened by the knowledge he followed had I know the confidence that notwithstanding those disasters and concurrence of the people of Hong nomic consequences of the recent-and disabilities Hong Kong has not Kong. Now, there is, in my view, no ly heavily increased flight of cap-failed in her now historic role as a principle of greater importance in fu- ital from China to Hong Kong, shelter for the oppressed. I very fully man administration than that of con- which during August and Sept- share in that sympathy and that ad-tinuity of policy, not lightly should an miration, and I venture to offer sincere incoming Governor depart from a po ember reached the Sum of and respectful condolence with the icy which is the resultant of years of $389,000,000, are voted in an ar- countless sufferers upon whom in par-thought and striving on the part of his ticle in the vernacular newspaper ticular those blows have fallen by way predecessors and the best brains of the of death or other loss At the same Colony, the Government of which he "Kuo Wen."

time I welcome the note of undismay- is called upon to administer. Such st ed courage upon which the address any rate is my belief and practice, and The paper. demands legal mea- ends its mention of these set-backs, it is, therefore to me a comforting and sures for checking the excessing land when I see them faced in that encouraging thought that the mes flight of capital, which in the spirit, I have no doubt that the clouds present political situation, had to be characterised as something in the nature of a panic.

Continuation of the flight, the paper says, would lead to stiffening of the Chinese money market, and would have an unfavourable influence on the result of subscriptions to the War Loan, essential for China's struggle against Japan.

CAPITALISTS WARNED

now about us will break.

BLACKEST CLOUD

which propose to follow generally in

the administration of this Colony have had the approval of those among us who are most intimately concerned by them and are best able to judge their merits.

CANTON FRIENDSHIP

The blackest cloud in our sky is the grievous war in which the two great- est nations in this quarter of the world} are now engaged It is not for me to express any view upon the merits" or It is not to be expected that on this demerits of the contending causes. But, occasion any statement should be made as you all know, a strong effort is be of individual policies on projects: ing made at the instance of the Com-Nevertheless, I do undertake to consi- mittee which advises the League of der closely not only those which have Nations on Far Eastern affairs, to dis-received mention, in the address, but cover means whereby this ghastly also those others of which Sir Andrew slaughter and misery of mankind and Caldecott spoke in his last speech in this violence done to human inter- the Legislative Council. I would, course and commerce may be ended. however, make specific reference to All here will join me in the earnest one very important point which Sir The paper warns Chinese capita-hope that success will attend the Brus- Andrew raised in the course of those lists that by sending their capital sels conference and that the tragic si remarks, that is to say, I wish to en- to Hong Kong, they will suffer atuation which has developed in China dorse what he said on "Friendly Rela- -No signatory. tions” with our neighbours. In that double loss, namely, loss of interest will be quickly cured.

of the Nine Power Treaty will work connection I take this opportunity to more vigurausly towards this much de- declare and I will use his own me- sired end than the British Empire. In taphor that it is my strong ambition of so far as we in Hong Kong can sup-to write worthily the next serial num- port that endeavour, let us give every ber of that tale which he began so help that we can.

well

the

and loss by disintegration of the Chinese currency, unavoidable in case of unfavourable progress the war Trans-Ocean.

REMINGTON 16

PLEDGE OF SERVICE

I have spoken of the pledge of co- operation which has been offered to me and gladly accepted by me this morn- ing. In return I wish to give explicit expression to that pledge which is im- plicit in the acceptance from His Ma- jesty the King of the high honour and duty of the governorship of one of his possessions. That pledge is that throughout my tenure of office in this Colony, which is so important an out- post of our great Empire and has to play so vital a part in the furtherance of world trade, I will devote all my en- ergies of mind and body to forwarding its true interests and to the worthy fulfilment of its responsibilities. Hum- bly and whole-heartedly I trust that under Divine guidance there may he brought about during the next few years that renewal of prosperity which all our hopes are set

on

TEL. 20022 or 33993

There was no s typewriter till

the first

1813. First then

word as INGTON

ichine in First to

Equipped with 5 KEY

Decimal Tabulator

MUSTARD & CO. LTD.

(Head Office

DAVID HOUSE HONG KONG Phone 31141

Bund

Phone 13746

IMPENDING CLASH IN SHANTUNG

Tokyo, To day. The first clashes between Jap anese troops advancing south- ward from Tehchow and the ad- vance guards of Shantung troops, believed to be under the person- al command of the provincial governor, General Han Fu-chu, occurred yesterday.

Skirmishes took place and as yet

severe 30,

The bulk

are repor strongly

the Yellow fu, where the (meet with strong

been in Shantung

ictoris Hong Kong

NEWS FLASHES

You can

ROYAL

and

are killed rental will