1948-05-27 — Page 9

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EXPECTED DEPARTURES FROM HONGKONG:

6th

th June

3rd July

For Pansage & Freight Bookings Apply to:-

WALLEM & CO.

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Hongkong & Shanghai Bank Building. „Tell: $4177:9442 Chinese Freight Agents: HIN FAT & CO., Tel 28483

SAC

SIAMESE AIRWAYS COMPANY, LTD.

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Scheduled Flights:- HONGKONG-BANGKOK. Every: Tuesday & Saturday.

Singapore

Penang

Saigon

AND

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Wednesday

.Mon., Wedn, &.Fri.

JA, Z

Friday

For Further Particulars Pleasé Apply

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SOUTH EAST ASIA TRADING CO., (SIAM) LTD.

00, Connaught Road, West. Peninsula Hotel, Kowloon.

Booking Agenta:

Auw Rit Beng Trading Co., Ltd Chiang Hust Kong

Tel. 24202 Tel. 59354

10, Pedder &t., Tel. 20783 8, Connaught Rd., W. Tel: 27001

WEEKLY CHINÄ MÄIL

Price 50 cents

CONTAINING · ALL

THE LOCAL

NEWS OF THE WEEK FROM THE "CHINA MATI “SUNDAY HERALD”

ON SALE EVERY THURSDAY:

7

THE CHINA MAIL, THURSDAY, MAY 27, 1918.

DEVELOPMENT OF NEW TRENDS TOWARDS THE STERLING AREA

Bank of England Reserves Not Britain's Alone

(By Sydney Gampell)

**

London, May 25, Indian and Pakistan delegates on their way here. this week to negotiate a longer-term (though still not final) arrangement on their sterling balances, some important new trends are developing in both official and unofficial atti tudes toward the sterling area.

These pre affected by attitudes in Washington as to the conditions, if any, regarding sterling and the sterling area that should be laid down in the bilatéral Anglo-American agreement for European Recovery Programme aid to Britain. Their influence will outlast both the Anglo-Ameri- can, bilateral agreement and the impending sterling agreements with India and Pakistan, Because the United States Aid Administrator, Mr. Paul Hoffman, is establishing a "continu- ing committed” of United States bankers to

óðviso him ön such subjects, not only now but also in the future.

the

Perhaps the biggest develop- have a more topical cause. There ment is the way in which high is strong reason to believe that in British authorities have recent- the last couple of months ly been expounding India's own drain on Recount of oversens ster- ting countries has fallen, but that viewpoint. Almost they have this has been at least partiv off- seemed to be arguing India's set by a bigger drain for Britain's own brief against themselves own starply increased deficit in the forthcoming negoti- visible trade. attons.

of

It has been oftelally stated that the outflow of gold and dol-

Bao Dai To Visit UK

Balgon, May 28, Bao Dal ex-Emperor of An- nam, will leave here for Len- don by plane on June 5, at- cording to a member of the Emperor's staff.

He will also visit GenSVA and, if Invited by the French Government, Paris.

M.

Before leaving, he wili, aco Emile Bollaert, French High Commissioner. In Indo. China, and, Generál «Nguyen Kuyan, Premier of South Vist Nam-Reuter,

R1

MARSHALL PLAN FOR ARMS?

Washington, May 25. Democratie Senator Walter George predicted today that next year. Congress will be asked to provide an Arma- ments Marshall Plan, com- prising between $3,000 mif- lion and $8,000 million, to help rearm European nations opposed to. Communism.

Senator George told reporter that "It depends on who is elect- ed President, and how far he wants to press the matter," adds ing "but I shall be surprised if Congress is not asked to provide between those amounts for reorm ing Western Europe,"

He did that, amonk

other things, the United States may be asked to help pay for modernts- Ing the British Navy and for m- ,creasing her air force..

Tathay Pacific

SPEED COMFORT SAFETY

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NEXT FLIGHT—19TH JUNE

France docs no: have anything HONG KONG/MACAO SERVICE

now in the way of war equip- and will have to start frum AAAAA; } scratch." he added.

belleved that if the Senate Apri But

simultandously, approved the regional defence Britain's own vielble deficit in resolution offered by Senator Ar- March and April was the big- thur Vindenberg, the Western ger than in- January and Febru- European nations would get to- ary and far bigger than White-gether on their arms needs. kall expected.

Since the relevant figures are to be published, only

in the last two quote will not know tin-

in Junuary

In previous negotiations with India both sides have in fret irled hard to understand and meet the urs on account of other parts of other's viewpoint.

ut the sterling area has been "very In Latest terances by British ofetals, how much lower"

and July how these conflicting than refleri evidently | everj

their months sensitivity

criticism, not only February, to in Britain but even more Inimi! this drain tonk line to ma- Washington ERP clrcles--which I ture. "on do more about it than can the home critles--that drawings the sterling baluhces may unda the henent of ERP to Britain and thus weaken Britain's ability to help Europe including herself.

As the measures to forces have affected the aggre- gate drain.

Between Two Fires

Whitehall

on

25

1.am thus not caught between two fires. To India it has to defend Britain against

excessive drawings remambering. that drawinge which would be regarded GHOCHİVE here might be re- garded as quite inadequate Ta To oritica in Washing- India. toh and Britain, it has to de- fend India's right to get any drawings at all

Certainly

Whitchall has been putting up a reinurkably

good

7

But meanwhile, until Britain's own external unbalance can be Results which Britain hoped rectified, this development na- January and turally makes Whitehall sensitive February appeared, in fact, Inland rather anxious.-Reuter.

to sce

case for India, so good that the Indian and Pakistan negotlators, when they arrive, will find much of their brief ready-made for 13. them by the other side.

This agreement on fundamen- tals will narrow the area of dis- pule which will require, negotib- Lion,

und it is less unrealistic

than It may sound. Ever since the Anglo-American loan agres- ment, uld down its scheme for settling the sterling balances which included scaling down-it has appeared that Britain and India had A certain common

· cause- ogoinst-Washington as well us th area of dispute between themselves.

Britain Trustee

High British öfflätöls have thus been emphasising, perhaps more frankly -- than -- ever before, that the Bank of England's gold and dollar. reserves are the reserves of the whole sterling atea, for whom Britain acts as banker aid trustee, and not the reserves of Britain alone.

They have been built uh, hy the gold and dollar cummings of the entire sterling area.

18

20

L

· A BRITISH CROSSWORD PUZZLE

하

12

4

Clues Across

1 Burni, 4: Selects.

Point out.

B: Shelter. B Menace. 11 Perfume.

13 Remote. 15 Rise.

10 Young mare. to Scope.

20 Reverle. 1) 21 Commission.

Yesterday's Crossword

Across: 1 Chic, 4 Pasture,

15

16

Cluès Downi

1 Rapid 2 Elevate.

3-Encourage.

*4 Summary.

5 Persuade. 6 Origin.

16

10 Determined.

12 Alarm,

13 Prolect

14 Refuge.

10 Provide for.

17. Trample:

Ravo, 30 Gear, 31 Meddled, 32 Yank.

Down:-2 Hansom, 3 Clocks,

18

& Piers, 5 Arable, 6 Tenon, Thus : Lalk, 0 Undo, 10, Earning, 11 Range, 12 Pact, 13 Ruse,

17. Data, 16 Rare, 18 Komago, 20

the British Treasury, Itsőff nas | Curb): 12-Pork, 14 Slender,

out that, while critics in Amuse,, 10 Aster, 22 Treason, drawings on them by.

other

20 Sherry, 21 Eleven, 23 Rinse, 21

Menon and Britain complain Hale, 27 Mode, 28 Entreat, 29 Acrid, 25 Noted.

the

of the sterling.arch; the

proportion spent by one

of the sterling area:

alone, namely Britain.

Of the gold and dollar drain

of $1.923 million, in 1947, £877 million, was, Identifiably for account of Britain, alons, and of the remainder Unstrably_adi.

some

The Economic Secretary to the- Britisk Treasury has frankly dd- willed, that andia and the other members of the sterling -aren Would be entitled to ask whother this is fair from their viewpoint.

Lover

Bosides the Treasury's, general desire to jonlighthu, Washington, this.new-found frankness, may

Aquitania's New Job

Lag Southampton,// May 201). ¡The y-34-year-old" liner/Aquit❤ tanla, veteran of two world wars, from Southampton

for Halifax tomorrow on her first Voyage under an agreement be twden the Canadian Government dad the Cunard While Stär Llocs to deliver British surplus goods to Canada.

BOAC

Tlio Aquilanie tre

"is 156 only tour- feminelled paksonight linestin: the world and teatrias, 431. Drst class Auch 3,360-tourfiad: pumidrigeraz? ph

niit cia to mstimentos that? shorwilk Pa outry12,000:giliste obieranie on Her 11 voyager to Canada this -

HONG KONG AIRWAY B

BOA.C From HONG KONG

TO BANGKOK Sundays, Thursdays

and Fridays God by 4-Engined Flying Boat,

Note

On Fridays, the Flying Bont: Icaves -Hoog-Hong, utan 20 am, thus

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HOWA BARDIER CHATUR RISKOG PO

Reuter.

Stout Britons Unlucky

London, May 25.

-

The plight of stout Britons who are unable to buy large- sized bathing trunks was aired in the House of Commons to- day.

(Cohs.)

Mr. Maurice Hollis asked Mr. Harold Wilson, Presi- dent of the Board of Trade, if he were aware that only one pair of outsize bathing trunks was:

manufactured for every four medium-sized palts,

Mr. Ho

Hollis pointed out that

there were

only 2 medium-

sized to one stout Briton.

Mr. Wilson said he had no con-

trol over size ranges produced by mamifacturers-United Press.

جم

RUSSIAN WHEAT

FOR EGYPT

Alexandria, May 23. Two Russian ships, carrying 13,000 tons of wheat for Egyp1, arrived In Alexandria today bringing the total of Russlan wheat so far received to 88,045 tonil.

The Egyptian-Russian barter agreement, provided for a tótál of 210,000 tons of Russian wheat.-- Associated Press.

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