THE CHINA MAIL, JANUARY 26, 1938.
Page
Roosevelt WarmsUEENS
American Industry
Washington, To-day. President Roosevelt, at a press conference yester- day, emphasised that he was opposed to wage reductions because the markets of American industry depend on the purchasing power of the working population, which must be in- creased, and not decreased, if they wanted to restore prosperity.
There might be a special hourly wage situation. in some building trades requiring different treat- ment, but even there the primary purpose was to increase, and not to decrease, the total annual pay workers.
of
In regard to prices, he said that mass production in industry de- pended on the volume for profits, and the only way to obtain volume, was to produce goods at a price the public would pay, but that did not mean that such a price reductions could come out of wages.
PPESIDENT'S WARNING
If industries reduced wages this Winter and Spring, they would deliberately encourage withholding of buying, foster the downward spiral and make it necessary for the Government to consider other means of creating purchasing pow-
er.
President Roosevelt said he made the statement because a few indus- tries were in the process of reduc- ing wages in some sections, and there had been rumours of lower wages elsewhere.--Reuter.
MANCHUKUO
POLICE CAPTURE AT SAIKUNG
a
The Water Police made capture last night in the vicin- ity of Sai Kung.
No. 1 Police launch was pa- trolling at 7.15 p.m. some dis- tance from the shore. Watch- ing a junk, they saw four men get into a sampan and make for shore.
The Police boarded the junk and searched it. They found a quantity of large, long knives. They then set off in pursuit of the sampan which, however, reached shore before the Police could reach it.*
A chase took place and one man was arrested but the other three escaped. The junk, sam- pan and the arrested man were brought to Hong Kong - last night.
TALE OF DESTRUCTION
MINISTER TO ROME IN TSINGTAO
Tokyo, To-day.
to
Tokyo, To-day.
Mr. Hsu Shao-hsiang, the newly- The cable service between Tsing- appointed Manchukuo Minister Rome, is leaving Hsinking with his tao and Sasebo and Kyusgu was staff in the middle of February. restored yesterday, according to Reuter.
Japanese despatches from Tsingtao.
Tracks and bridges
.
on the
PALESTINE'S HIGH Shantung railways, destroyed by
COMMISSIONER
London, To-day.
the Chinese near Weihaiwei, are being repaired by Japanese en- gineers corps, and are expected to be completed early in February. Despatches state that damage
in
Sir Harold MacMichael, retiring suffered by Japanese residents from Governor of Tanganyika, is re-Chinese looting is estimated to ex-
air turning to London by
from ceed 500,000,000 yen, including de- Nairobi.
struction of nine cotton mills He will later proceed to Palestine, Tsingtao and the Shantung Railway,. where he was recently appointed! on which a Japanese loan of 40,- High Commissioner.
000,000 ven is secured. Reuter.
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