1938-11-22 — Page 12

THE CHINA MAIL, NOVEMBER 22, 1988

CHINESE FEARS OF LONDON-TOKYO PACT

GROUNDLESS

Shanghai, To-day.

The recent visit of the Financial Adviser to the Bri- tish Embassy, Mr. Hall-Patch, to Tokyo, has aroused deep apprehension combined with mis- trust in Chinese economic circles.

The Chinese papers in this city comment at length on the visit, the "Yi Pao" emphasising Britain's compromising attitude towards the Far East as evidenced by the conclusion of the Anglo-Ja- panese customs agreement.

The Chinese people, it is declared, are inclined to be- lieve that the visit of Mr. Hall-Patch may have a bearing upon the Japanese attempt to under- mine the Chinese currency and they fear that Britain may make further concessions to Japan by manoeuvering the Chinese currency into the Yen Bloc as condition for a guarantee on the part of Japan to respect what is left of British interests in China.

The paper expresses the view that such apprehension is unwar- ranted, stating that since the pre- sent conflict began, no financial dealings whatsoever have been con- ducted between the two countries and it would therefore be impos- sible for England to join with Japan in a plan to link up the Chinese currency with the Yen Bloc.

Moreover, the currency reform which was carried out in China Britain with the co-operation of was intended as an

economic weapon against Japan.

Mr. Chamberlain, it is declared. would not be so foolish as to assist Japan by destroying the Chinese currency since it would merely pro- vide Japan with a deadly weapon for attacking England.

the Yen Bloc is the fact that since enforcement of foreign exchange control in China, notes are the only medium of exchange in the coun- try, and Britain must help main- tain the stability of these notes. in order to safeguard her own inter- eats in the Far East.

A collapse of the Chinese cur- rency would also mean a fall of the British market.

MILITARY NOTES

The paper goes on to point out that Japan is desrious of establish- ing a Far Eastern Economic Bloc in order to control China nan cially, but in view of her dwindling financial reserves, Japan requires assistance from outside, particular- ly from Britain.

Excellent progress is being made upon the building of the R.R.S. "Research" for the Royal Navy, at Dartmouth. Designed to carry on the works of the American vessel "Carnegie" destroyed by fire in 1929, the "Research" is costing £100,000, and its hull is entirely of teak and oak. It is estimated that not more than one quarter ton of steel or iron will be included in the construction, so that the ves sel will be non-magnetic. Its work will chiefly be connected with de- termining the varagies of compasses at sea, a subject only partly understood by the Navies of the World.

APOSTOLIC

DELEGATE

FOR ENGLAND

London, To-day.

•

DAILY MAIL ATTACKS ADMIRALTY

London, To-day.

The British Government's want

I

An agreement, it is stated by the Rome correspondent of the "Daily

be- of energy in carrying out the naval Telegraph," has been reached tween the British Government and programme is severely criticised by the Holy See under the terms of the Daily Mail's" naval corres- which the Holy See will henceforth be represented in Great Britain by pondent.

The correspondent complains an Apostolic delegate as it is already represented in the U.S., Canada and that the promise made by the Ad- miralty to achieve the programme other countries.

The Apostolic delegates are not for 1937 in record time could not diplomatic representatives accredit-be held and that the building year ed to the heads of the States, but of 1989 will consequently be bur- dened with the task of achieving represent the Holy See Episcopate of the country to which the incomplete constructions of the they are sent.

with the

Japan has made an attempt to disrupt the Chinese currency by circulating military notes in the occupied areas, apparently hoping to absorb the Chinese Legal Tender in this manner but the attempt The correspondent states, how-

As the largest investor in China, England must depend upon Chinese currency retaining its purchasing value and in view of the fact that the continued existence of foreign rights and interests in China de- pend: solely upon the continuance failed because of the Chinese cur-ever, that it is generally believedcording to the correspondent, is in-

of Chinese resistance to the in- vaders, the paper points out the necessity of England's assisting China to safeguard her currency: during the period of war.

STERLING LINK-

The paper "Morning Leader,"

that diplomatic status would

previous year.

The Admiralty's dilatoriness ac-

stanced by the fact that although rency reserve deposits.

be! the destroyer flotilla of the The paper concludes that, al-granted to the Apostolic delegate by "Laforey" class was included in though Japan is anxious to destroy the British Government although the estimates in February - 1987, China's financial strength before the delegate would not belong to orders to commence building were she herself collapses economically, the Diplomatic Corps. she is powerless to do so.-Trans- Ocean.

also attempts to dispel undue ap- BLUE FOR

prehension on the part of Chinese merchants over the Tokyo visit of Mr. Hall-Patch, declaring that the Chinese currency belongs to the

JEWS, WHITE

Sterling bloc and that Britain, FOR ARYANS

even if she wished to do so, could not destroy it because the greatest part (four-fifths) of the currency reserves are deposited in the Unit- ed States.

Berlin, To-day..

not given till March 1938 owing to The correspondent adds that the the shortage of the necessary choice of the Pope is likely to fall building materials.- -Trans-Ocean. on Monsignor William Godfrey who is English by birth and now Rector! of the English college in Rome, in which position he succeeded the present Archbishop of Westminster, Cardinal Hinsley.

U.S. SHIP CONSTRUCTION

Should this report be confirmed

New York,. To-day, this would be the first time since

The United States Maritime the reign of Queen Mary in the

Commission has awarded a contract 16th, century that the Holy See has The few Jewish doctors who are been represented in England, al- for construction of six cargo-ships though the British Government has at a cost of U.S. $14,658,000 to the still allowed to practice in Berlin maintained a legation at the Vati- Federal Shipbuilding and Drydock are now showing light blue name-can since the beginning of the world Company.Reuter. plates on their office entrances to war in 1914-Trans-Ocean. distinguish them from "Aryan”

Moreover, following China's cur- rency reform, competition began between England · and the United States to induce China to join the respective blocs, and Britain auc- ceeded because of the greater in doctors, whose nameplates remain

Should Britain now abandon her white.

vestments in China.

New York, To-day. Leopold Godowski, the Russia composer, and planist, died here yesterday.-Reuter,

#

months arranged for the immigra- tion of 12,000 Jews, though the number of Jews desiring to leave Lt. G. Cardaw, residing at No. 8 the country is very much higher. Hillwood Road, reported that

In Vienna alone, 185,000 Jews bicycle was stolen from the stair- are desiring to leave the country, case of the above address,~ some

-Reuter. This office has In the last two

time yesterday.

policy of assisting China financial- The German authorities have de- ly, America would take her place.clared that an organisation has The third point advanced by the been formed for regulating. Jewish paper as argument against the pos-emigration.-. sibility, of England going over to