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THIRD EDITION
CHINA
OLDEST NEWSPAPER
IN THE FAR EAST. ESTABLISHED 1845.
No, 29,833
MONDAY, JANUARY 10, 1938.
JAPANESE
Price: 10 Cts.
INSIST ON
Daisy Brand
AUSTRALIA'S CHOICEST
BUTTER
FEELING
ECONOMIC PRESSURE Stabilisation Reveals Aggravation Of Situation
BRITON SET FREE BY CANTON AUTHORITIES
The "China Mail" learns that
following representations by Mr. A. P. Blunt, the British Consul- General in Shameen, Joseph J. Richards, a British subject ar- rested on "spying" allegations at Shumchun recently, has been released and has returned to Hong Kong
Richards told the "China Mail" that he was kept in custody in
Exchange Permit Limit Reduced
To 100 Yen
Tokyo, To-day.
Ostensibly the yen has been stabilised, with the rate pegged at 1/2d. in terms of the pound sterling, but in the opinion of experts, the fact that the market has been stabilised is clear evidence of aggravation of the situation. The market, it is stated, is simply being controlled
by the Japanese Government.
JAPANESE PROMOTED IN CHINA'S P.O.
Shanghai, To-day.
A Japanese employee of the local Post Office, who has been connected with the Chinese Postal Service for twenty years, has been appointed Deputy Postal Commis- sioner in the Shanghai area.
The newa of the appointment is contained in Chinese reports which
Canton for 28 days, but was well Last January, the Government introduced an im-state that the promotion was made
treated during the period inves- tigations were proceeding.
port exchange permit system, requiring per- mits
· for remittances or covers exceeding 30,000 yen.
CANTON "SPY" hostilities, this
SCARE
An unconfirmed report, coming from foreign sources in Canton, states that a German national was arrested by the Kwangtung au- thorities yesterday on a charge of suspected espionage.
It is alleged that he was found taking pictures and when other pictures he had taken were de veloped, they were found to be of military interest..
The German Consul in Canton was in Hong Kong during the week-end, leaving yesterday.
No confirmation of the report could be obtained from the local German Consul General where the
by the Director-General of Posts.
It is said to have been made in in recognition of his services keeping the branch Post Office in the Hongkew going throughout period of local fighting.
"
Shortly after the outbreak of the Government cut down the limit
ANOTHER APPOINTMENT hostilities, this limit was cut to 100 yen in December, 1937.
that the In view of the fact
In the meantime, the Japanese down to 1,000 yen, and the limit
alone was again lowered to 100 yen Yokohama Specie Bank
is Accountant of the Post Office in last December.
allowed to make use of the over- Hankow is reported to have been
of In introducing the permit sys- seas fund created by gold ship-appointed General Supervisor tem at the beginning of 1937, ments, other banks find it extreme- the Shanghai Post Office.
Finance Minister in-ly difficult to continue business. the then tended to put an end to specula- tive imports which had been sti- mulated by publication of Jap- an's big budget and consequent increase in imports....
AT ALL COSTS
In spite of enforcement of the system, imports mounted in pro- portion to the advance in com- modity prices, and the Govern- ment was obliged to make larger gold shipments than originally anticipated.
Shortly after the outbreak, of the China affair, the Government decided to maintain the yen: 1/2d at all costs.
Mr.
GOLD REVALUATION
view was expressed that a report | carrer the Finance Minister,
revaluation of Japan's
should have been received in the gold reserves and created a fund event of such an arrest.
with the 747,000,000 book profit so obtained to enable adjustment international accounts.
** It is also reported that another German national arrested about a month ago was released last week, following representations.
PLANE CRASH IN ALGIERS
Paris, To-day.
Two French pilots were serious- ly injured when their plane crash- ed during the Algerian air yesterday, according to press portsTrans-Océan,
"of
According to the explanation made in the Diet, 327,000,000 yen worth of gold has been shipped under the newly created gold "account, but it is surmised in many quarters that some 800,- 000,000 yen more? has been shipped.
If so, total gold exports in 1987 totalled 600,000,000. yen:
EXCHANGE CENTRALISED
In view of the fact that many rally parties have been making undesir. reable imports, taking advantage of the unlicensed limit of 1,000 yen,
have This officer is said to The exchange business is, in arrived in Shanghai already to con- the fer with the Postal Commissioner, fact, virtually centralised in Yokohama Specie Bank, and open M. Chapelain, on measures for the market operations are now severely resumption of postal services
the war Zones.-Reuter. restricted. Reuter.
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