1940-01-25 — Page 5

J

THE CHINA MAIL, JANUARY 25, 1940

LEADING BANKER ON THE FINANCING

OF THE WAR

LONDON, TO-DAY.

IT WOULD BE UNSOUND FOR GOVERNMENT WAR EXPENDITURE TO CONTINUE TO BE INDE- FINITELY FINANCED BY INCREASING THE FLOATING DEBT THROUGH THE ISSUE OF TREASURY BILLS, SAID MR. EDWIN FISHER, THE CHAIRMAN, AT THE ANNUAL MEETING OF BARCLAY'S BANK YESTERDAY. Ultimately money borrowed for war must be obtained

REBUKE

Reply of U.8. Secretary of State Cordell Hull to a member of the House of Representatives who said that Britain was restricting Imports from America In spite of the trade pact:

* "Britain is fighting for her life. We should do the same in similar circumstances. You will see can- siderable purchasss of our farm products by the British in the not distant future.”

BRITAIN'S

mainly from the people's savings if inflation was PROMISES

to be avoided.

The Government demand fc bor- rowed money, however, was liable to be so large that the raising of the ne- cessary funds would be assisted if some of the increased Government expendi- ture was allowed to permeate through the economic system, and thus fluence the volume of savings prior to

in-

TIP TO

HITLER ON

BRITAIN'S GUARANTEE TO BELGIUM

London, To-day.

General Lord Gort's an- nouncement to the effect that if Belgium was at- tacked the Franco-British guarantee would come into play with lightning speed, was mentioned in the House of Commons

TO FINLAND vesterday.

London, To-day.

Mr. Chamberlain was asked if Gen- eral Gort's announcement represented Govern- the view of His Majesty's ment and whether milltary plans for grateful to the people of Bri-implementing it had already been pre- tain for the humanitarian aid

The Finnish people are very

the actual issue of loans to the public. EASTER GIFT which is being so freely

rise

It was Utoplan to hope in war. time that prices would not and wages remain stable, and the knowledge that such changes had already occurred lent emphasis to the need to prevent dislocation of the economic structure.

Brussels, To-day.

given, declared the Finnish spokesman in London to The best Easter present|Reuter yesterday. Hitler could give Britain and France would be to attack Belgium.

An acroplane loaded with British medical supplies left London for Hel- sinki on Jan. 22. This was the second such aeroplane which, British gener- This is the view expressed by aosity had made possible, Therefore to the extent that the in- dividual saves, Government expendi-noted Belgian military expert in a Bel- ture would be facilitated and the com-gian paper. petitive bidding up of prices avoided.

CONTROL OF TRADE

to

If Belgium opens her frontiers the Allies; gives them the help of her fortifications and her 600,000 men; and withdraws her exports, this would

Control of imparts and exports was be a heavy blow to Germany, he saya. essential in wartime in order to meet-Reuter.

external purchasing power to the best advantage.

dany

We should endeavour to ourselves the importation of non- essential goods in favour of over. soas requirements vital to needs.

our

Economic strength would play such an impressive part in the war that no opportunities should be lost to sell more goods abroad, and, as essential as this was to-day, concluded Fisher, it would be of transcendunt value when we are called upon to face post-war problems.-Reuter.

PROWLING POLICEMEN IN GLOOM?

Mr.

London, To-day.

The new speed regulations come into effect on February 1, reducing the speed limit during blackouts from 30 to 20 miles an hour.

None of the papers doubt that this is a move in the right direction. Deaths of civilians have exceeded those of members of the armed forces on active service, and the death-roll has Increased as the nights get longer and blacker.

Many papers, however, wonder whe- ther the regulations go far enough.

The "Daily Telegraph," for instance, is somewhat scornful and asks how the Ministry of Transport proposes to enforce the "20 miles an hour speed limit during blackouts, when number plates cannot be seen. Nothing, says the paper, can be achieved by sending out policemen affed with notebooks "to prow! through the night, peer through the gloom, peep through the dark."

The "Manchester: Guardian Vand some of the other papers wonder whether it would not be possible to relax some of the black-out? tions in order to reduce the danger to lives after dark.Reutt

KWANGSI FIGHTING

BELGIUM MUST ASK

London, To-day. Mr. In regard to

Chamberlain's statement in the House of Commons in regard to the Allied guarantee of Belgium, and especially his remark must retain that the Government the right to decide what is a threat in of aggression, it is pointed out Belgian quarters in London, says Reu- | ter's diplomatic correspondent, the main factor which would bring the guarantee into operation must be an appeal from Belgium Invoking the provisions of the guarantee.-Reuter.

OFF THE RECORD

They

Here'

The spokesman added that com- forts and warm clothing were 48- pecially welcome owing to the enor

alr mous damage done in Russian raids. All windows in many towns had been shattered, so that the In- habitants find it difficult to warm.

pared.

Mr. Chamberlain said that un- der the Locarno Treaty His Ma- jesty's Government undertook, to go to the immediate assistance of Belgium in the evenť of unprovok ed aggression by Germany, and this undertaking was reaffirmed subsequently, the occasion being in a statement to the King of the Belglans by the British Ambas- sador in Brussels last August. In reply to the last part of the question, said Mr. Chamberlain, the House could rest assured that the question how guarantees of all kinds could be implemented, had received

the Government's full attention. keep Reuter.

Although Russian loudspeakers at the front lines threatened that "the Germans are coming," the spokesman said his Government possesses no evi- dence that Germany was giving the Soviet any material assistance or mill- tary aid.

GREAT BATISFACTION

An official cable from Helsinki, ne continued, said that official circles there had expressed great satisfaction over the references to, Finland, in the recent speeches of Mr. Winston Churchill and Lord Halifax, which are regarded as official promises of real help. that The references to the nature of Fin- for land's struggle, which was one Western civilisation, were also greatly appreciated in-official Finnish circles. -Reuter.

ED REED treated that mutt like pne

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