THE CHINA MAIL, APRIL
1938.
Fears Of Fascist Regime Supervening In Mexico
London, To-day.
"
Press reports from Mexico City state that a new po- litical party has emerged in Mexico, calling it- self the "Revolutionary Workers' Party" ap- parently in the wake of the oilfield expropria- tions and the foreign pressure exerted. Meanwhile, it is intimated that the British Govern- ment will probably follow the American view on the development, accepting the principle of Mexico's right of expropriation, provided full compensation is paid.
CHINA DOLLAR: OFFICIAL STATEMENT
con-
this
China National Currency tinues to maintain 21 improved position on the Shanghai market, though sentiment was easier morning and a fall of 3/8ths from 1s.0.11/16ths. to 1s. 0.5/16ths. - wes recorded at the opening.
The American dollar was quoted at 251⁄2.
I The amount of compensation to the British and American oil con- cerns is likely to involve protract- ed negotiations.
In the meantime, according to an official report, the Mexican Eagle Oil Company is still challenging the seizure of the wells and is seek ing an injunction.-Trans-Ocean.
FEARS OF FASCIST REGIME IN U.S.
Washington, To-day. Owing to fears that a Fascist re- gime may supervene in Mexico if President Cardenas, is forced out of office, the United States Gov- intensify pressure on Mexico over ernment is resisting suggestions to
the expropriation of the foreign oil companies.
20
Hankow, To-day. Explaining the operation of the foreign exchange regulations,
The Secretary of State, Mr. Cor 2dell Hull, is confronted with spokesman of the Finance Minis-extremely delicate situation. try stated that the Central Bank's On the one hand United States policy was to determine allotments rights must be upheld, on the other in the light of past experience and the United States Government i current conditions based оп the determined to encourage liberal amounts needed for legitimate re-government in Latin America even quirements over and above the cover at some expense to American inter- available on the market.
ests-Reuter.
Ee added it was likely a forward- ing office would be established short- ly in Shanghai, and means to facili- tate operation of the system
under consideration.
were
GENEROUS ALLOTMENTS
ORDERS FOR NEW DESTROYERS
London, To-day.”
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Questioned regarding the amounts allotted, the spokesman stated the Central Bank was making generous The Admiralty have decided to allotments. The first two weekly al-place orders for the eight destroyers lotments for Shanghai totalled ma-of 1937 programme with following THE terially more than imports over ex-firms.
ports in Shanghai for the first His Majesty's ships Larne and Live- two months of the year, and allot-ly with Cammell Laird, Birkenhead; ments in all China in the same period Legion and Lightning with Parsons were nearly as much as the excess Marine Steam Turbine Company, of imports over exports for the en-Wallsend-on-Tyne--hulls by R. and tire month for all China, based on W. Hawthorn Leslie and Company; the average of January/February. Lookout and Loyal with Scott's Ship- Furthermore, the allotments ex- building and Engineering Company, ceeded the amounts being sold by Greenock; Laforey and Lance with the Central Bank a month or two Yarrow and Company, Scotstoun.- before adoption of the measures. British Wireless.
CALM ATTITUDE
The regulations were designed to conserve the currency by prévent- ing it from coming into the hands of those striving to undermine the currency. A calm attitude by the public would help the Central Bank in its task of upholding the cur- rency
VAN ZEELAND REPORT SHELVED
London, To-day.
The spokesman urged the public! The Prime Minister informed the not to pay attention to fabricated Commons that the Van Zeeland re reports such the amount of al port was still under consider lotments governed by the relation of "I feel" he said, in present exchange to the sums the Govern-circumstances that it would be ment was spending abroad.
well to defer whether effect recommendation"
Asked whethe
Actually, the Ministry was exer- cising strict control of the Gover
requirements for foreign ex-
These were met separately, ments formerly they to Chamberla
change
Extent
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