1940-11-08 — Page 16

U.S.

THE CHINA MAIL, NOVEMBER 8, 1940

INFLATION HINT

"We Have Just Begun To Re-Arm:" --Morgenthau HUGE Japanese Seeking Higher STOP PRESS

Demands

BRIDGE

CRASHES

The huge suspension On Siam

bridge over the Tacoma

Narrows, third longest

River.

ing Gertle,' owing to the sway- ing motion, the bridge was only

opened last July,

un-

Statutory Debt Limit

“WE HAVE JUST BEGUN to rearm,” declared

bridge in the world, sud- (SPECIAL TO "CHINA MAIL") Mr. Henry Morgenthau, United States Secretary of denly cracked yesterday A note

containing Treasury, when he announced in Washington yes- and crashed in sections several demands has been terday that the Treasury would ask Congress to 190 feet into the. Puget presented to the Govern- raise the statutory debt limit by an estimated nient of Thailand (Siam) $15,000,000,000 in order to meet the costs of the na- Recently, nicknamed "Gallop by the Japanese War tional defence.programme.

Mr. Morgenthau was speaking at his daily press Office, according to official but well-informed conference and stated that this increase in the pub- lic debt would be sufficient to carry the Treasury sources in Chungking.

Details are not known, but it through the fiscal year of 1942.

Japanese Wär is believed the

Asked if the increase was consi. Once is demanding military and dered sufficient for the next four naval bases, and the right of years he replied in the negative, passage through Thailand terri-asserting that the United States tory for Japanese forces.

had only just begun to rearm,

added the Mr. Morgenthau demands The

practically are

to identical with those accepted by Treasury would recommend the French Indo-China Govern-Congress that future Government

The bridge has always been affected by a high wind and began swaying from side to side. yesterday.

A journalist, who was the on the bridge at enly person the time of the collapse, felt it going, down. He leapt

his car and out of crawled 500 feet to safely as the bridge disintegrated, its huge cables waving wildly in the air.

Reuter.

BRITISH ARMY CONFIDENT

GERMANS LEAVING

ment.-Our Own Correspondent. securities should be taxed and he TURKEY

FALSE ALARM FOR POLICE

All available Police, including

on

"The British forces in the the Emergency Unit, were rush- goldsmith's shop in Middle East are capable of crush-ed to a ing any enemy from whatever Shanghai Street last night

automatic quarter he may come; victory is the sounding of certain and, as Mr. Churchill said, burglar alarm at Yaumati Police we shall share its fruits," de-¡ Station. clared General Parry, Chief Liai-

an

hoped Congress would make both Federal and local government obligations taxable, though this would only apply to future issues.

·

As

foreshadowed by

last week-end,

reports

it was reliably learned in Hong Kong this morn- ing that the Pearl River is being re-opened to traffic by the Japan--

Canton to- ese authorities in

morrow.

Questioned

by

the "China

A number of German Mr. Okazaki, the Japan-

said. that

Mr. Morgenthau stated that nationals are understood ese 'Consul-General, the debt increase would very to be unexpectedly leav-while he had not been officially

likely be accompanied by in- creased taxes though he diding Turkey.

not think it possible to estab- lish a "pay as you go". basis.

Inflationary Trend

He explained that as the de- fence programme gets into

full swing, the question of increasing prices and possible inflation would The alarm, however, turned arise but he did not fear inflation.

by a son Officer between General Sir out to be false, caused Archibald Wavell and the Greek' short circuit, for when the Police General Staff, in an Interview arrived at the Tai Lai Goldsmith Street. with the Athens newspaper "As-Shop, No 411, Shanghai

they found the place closed and syrmatos" yesterday.

General Parry paid high tribute everything quiet. to "the heroic Greek people" for resisting the invader thereby set-

After Mr. Morgenthau's state- ment the stock market became strong and active, Wall Street re- garding the statement as having: inflationary aspects.-Router.

Stock Market Soars

informed of the step,, unofficial:

been received. con- reports had

It is thought this is in connec-trining the decision. tion with the arrest at Istanbulj of an unknown number of people, all or mostly Turkish nationals, on suspicion of espionage,

The number arrested is report- ed to be about 40.

Meanwhile Turks of military age who have not been called to the colours with their res- compulsory pective classes for military training are now being ordered to report for training.) Twenty olasses are affected. This is presumed to be one of the measures foreshadowed by the President for strengthening Turkish armed forces. --

The price of petrol in the Co- Reacting to Mr. Morgenthau's the ting the world a "magnificent, lony as the result of the increase statement New York stocks, bonds Reuter.

in duty is to-day $1.80 per gallon. and commodity prices yesterday! example."-Reuter.

$3B213146163388184B1461|22|sky-rocketed in one of the big- gest day's trading for several months.

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The stock market ticker was. running two minutes late at the close and recorded record gains as high as eight points. The turn-. over exceeded two million shares. Steels led the, upward swing which has more than overcome Wednesday's losses resulting from

GRANT

FOR RELIEF

OF REFUGEES

the re-election of President The Under-Secretary Roosevelt,

Bullishness also appeared in the for the Home Department, Chicago grain market.

wheat at one time soared as much

Here asking the Commons yes- The prefix "special" to telegrams Ja

used by the Sunday Herald"

and

as four cents in the biggest single terday for a grant in aid, "China, Matt" to indicate news which day's rise of the year-Reuter,

U.S. SUPPLY ¡OF WAR

MATERIALS

alons of the Telecommunications ar- ed under any circumstances,

either

said it has been found ne- is strictly copyright under the provi cessary since February! dinance, 1938, and may not be reprint- iast still further to in wholly or in part, without prior ar crease the Government rangement. provision for refugees:

Government originally promised

to contribute £1 per £1 found by voluntary organisations up to a maximum of £275,000 but it had

CHENGTU '’QUAKE

on

A slight earthquake occurred

.p.m. been necessary to exceed that in Chengtu at 11.19 sum and Government was now Wednesday night.-Central News, asking for £375,000 in aid of these organisations for the period

These

from October. 1. to the end of before the war. Announcement yester-he current financial year. day that Mr. Purvis, head of the Britain Purchasing Commission in the United States, is at present con- ferring with President Roosevelt, has aroused speculation whether the President may not even now be considering fur- ther aid to Britain.

These organisations were in- voluntary organisa-dispensable in dealing with the tions had sponsored and made refugees and Government had to dic themselves {responsible for ensure that their activities the 50,000 German and Aus- not collapse. trian refugees who had sought The vote was passed-British acylum in Britain in the years Wireless.

President Roosevelt had been: back in the capital only a few hours.

Mr. Joseph Kennedy, United Stätes Ambassador to Britain, and Mr. Henry Morgenthau, Secretary of Treasury, also called on President yesterday.

the

After his conference with President Roosevelt," Mr. Pürvis

told the press he was flying to Britain' shortly but: would

'; doubtless return with more ori

dors for war material.

Mr. Morgenthau stated MỀ Purvis had merely visited the President to say good-bye before Hmmm | starting for England:-Reuter.

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