1948-08-21 — Page 1

Page

SPEED

FRANCIS WU'S STUDIO

Speedflash portraits

the only "one of its"kind"la"Hong-Kong.~*

2. Gloucester Arcade

CHINA MAIL

No. 34056.

ESTABLISHED FOR OVER ONE HUNDRED YEARS

HONG KONG, SATURDAY, AUGUST 21, 1948.

BACKING FOR NEW 'SUN' CURRENCY

Enough Security For Ten Times The Issue

Nanking, August 20.

Finance Minister Wang Yun-wu said that China's currency backing is sufficient to cover ten times the amount to convert all the old national and north-east currency. "While our backing is sufficient for 2,000,000,000 new gold yuan, only

200,000,000 will be required to redeem all outstanding paper notes," the Minister said.

Asked if the Chinese Government is still seeking American aid for currency re- form, Wong said, "We still hope for it, but at present we are depending on self-help."

He said the new currency would be backed by China's US$200,000,000 in gold for- eign exchange, plus $300,000,000 worth of property and negotiable securities.

Asked how for the Government is prepared to go to enforce

the new financial and price rekufations, Wang said, "We are fully determined to enforce them on everyone.”

The Minister saki detalls of the regulations were still under preparation but considerable pro- gress was tante in conferences between ofteluls and the nation's business and banking lenders

FOREIGN CURRENCIES BANNED

Except US dollar böndis of 1947, which shall be repaid In Becordance with the original

By a presidential decree, the Shinnghal. Tientsin. Conton and Chinese Government today Hunkow to assist and facilitate banned the circulation, passos. the registration piccess. sion or sale of all foreign cur. Each of theses committees will jetipulations, all other bonds, in- rencles in China, along with be composed of the Mayor, the fritiding short-term treasury nates gold buftion, cliver bullion and Speaker at City Council, a re- of 1947, shall be replaced by ol silver coin.

¦ prcventative of the Ministry of ¦yutan bonds at » prescribed rate At the same time it forbade gold | Prince

from the of exchang2. and silver to be moulded Into Central Bank.

ornaments as a rivans of evading

currencies,

and mucsben

the low. Those in possession of An infringement foreign

of the rules gold undef registration is punishable by a silver bullion and silver coins inaxtimum prisar terin of seven are ordered to exchange them for Leeurz with corresponding fines, gold yuan.

Besides convershup their hold- ings into gold yuan, owners shnil be requested to make an one of

the following two choices: Firstly,

to buy United States

currency

Another presidential man. dute issued today proclaimed following regulations Garding the issue and circula tion of gold yvan.

TO-

Firstly, effective immediately,

Eightly, the gold yuan will be backed by a 100 per cent reserve. Of this"reserve, at least 40 per cant must be in the form of gold and silver bullion and foreign exchange. The remain. Ing portion will be covered with negotiable clocks and as- Bets of state-owned enterprisse appointed by the government. Ninthly, a supervisory commit- tec will be established to conduct

bonds of 1947.. If holdings are hit the Chluose national currency monthly inspection and keep

U.S. currency,

will be necessary.

no conversion i will be based on the gold yuni, custody of the reserve for the which WHL contain the prefold yuan und Issue a monthly

composition of -110.22217 | statement on the condition of the grams of pute" qoldi.

Secondly, to deposit their holti, †seelbel ings in the Central Bunk. If holdings are in foreign curren- cles, deposits will be accepted in the same form.

Must Report

On Entry

silver

Gold yunn, notes will be issued by the Central Bank of Chittu to "İşe used' nis legal tender for all

Transactions.

reserve.

Commodity

Secondly subsidiary enins for Prices Pegged

com-

the gold vunn will be in cents

Almes,

входн cents being equivalent to our dime and ten

Tenthly, prices of all times

to one yuaY.

modities are to be pegged at the Thirdly, gold wann notes will cute at the time of the proclama- Owners of graumental gold and be issued in druominations of one ion and is to be converted at

will be allowed to keep in, the yuan, ve yuan, ten000,000 to one into gold yuan. end transfer their possessions but yuon and 100 yuan.

Eleventhly. Wages are to be uch objects when sold at the Fourthly, subsidiary coins will computed on a gold yuan basis ofisi-i-into-of-exchange must not be one cent, fivescents our dime, | in-accordance with the rate of exceed

or US$100 two dines and five dimes to be 3,700,000 to one two sumes

but wages for wher foreign credit is obtained coinert

nickel and the second but of August shall cover part of silver, and gohi yuan subsidiary in no case exceed that paid on

notes will be issued by the Cen- August 15.

The se

supervisory committee is

from banks lo travelling expenses.

Jo

Thore entering Chinese toe-tral Banit. ritory must report to the Cus. tome officials all their posse -long carried' in the form

of

gold, liver and foreign our. randies.

All such holings must be

turned over to the Central Bank except

Л

copur,

Fapi Issue

Discontinued

maxinua of two ounces Fifthly, beginning from today,

of gold and 20 ounces of silver these regulations proclaimed that allowed cach person.

further issue of Fupi

and Currency

(present

Matt

Travellers transit must turn Chinese over their holdings to the Cen-churian script notes will be dis- Irial Bank for custoily and my continued.

claim them back

month period.

Issued today.

Bank to

to cente fie issuance of notes or to recall notes already

Price: 20 Cents.

PICTURE OF THE DAYİ

· A DAMP WEEK-END

A rowing boat became the only megas of transport in the Jaywick Banda bungalow resort when wild weather ema:hed the seawall on August 8 at three o'clock in the morning. Two thousand holiday-makers hastily evacuated with consideraule tras of personat belongings. (AP Photo)

APL Liner

Quarantined

For

yet.

reason

Unconfirmed the steamer General Meigs was put in quarantine last night on her arrival hero from Shanghai.

to the Port According Health office, three Chinase children were taken athore and detained at the Sal Ying Pun Roepitat. During the routina medical examination of the 1,000 passengers, launch had to be an extra went for by raidio telephone with additional, staff.

ing

The APL liner will leave the Kowloon Bay Quarantine Anchorage early this morn

"and" "päkeengers are." ex- proted to disembark at about Ba.m. Kowloon Wharf.

On board the vessel are a number

'missionaries of of

for various faiths destined scattered posts in the Far Esst.

First

Hints

Aid By Radio Failed

When first aid instructions radiood from another ship proved inadequate to treat her chief ste- word, the steamer Reynolds turned round from her course to Singapore, 127 milos South of Hong Kong, arriving hera yesterday.

globa!

Mr. G. H. Dean, chief stewho then informed' Mr. · B.F.R.

master of the ward of the 4446-ton generul Thomas, trader, suffering from a dis- tromper. located right hip bone, was sent to the French Hospital. Late last night his condition vealed that Dean's leg had been

was reported

factory

Great Pain

A thorough examination re-

Wheat

Smith-Corona

Portable

TYPEWRITERS

ARRIVED LATELY!

AT REASONABLE PRICE.

HONG KONG TYPEWRITER' EXCHANGE

9, D'Agullar Ot

Tel. 21433

SOVIET VETO DEFEATS CHINESE PROPOSAL

Lake Succoss, August 20.

Russia again used the veto today to defeat o Chinese proposal that Ceylon be admitted to the United Notions.

The Ukraine joined Russia in opposing the proposal, which was approved by nine members of the Security Council,

Earlier, a Soviet proposal to postpone admission of Ceylon was defeated, only Russia and the Ukraine voting in favour. The remaining Council mern- hers abstained.

Both the Russian and Ukrain- lan delegates said they could not support Ceylon's admission br. cause they were not convincerl Ceylon Independence was real and at "faire".

"Puppet State"

Mr. Dmliri Manuilsky, Ukraine, claimed that Ceylon was a "pup- pet" of Britain and therefore nat a sovereign state.

Mr. Jacob Malik, Russia, After

quoting the powers.

of Ceylon's Governor General and referring to "certain rights" given to Britain "to air and naval basos" in Ceylon, sald this

some

circles in Bri. to "create an

tain were trying to

Ilusion of independence." Sir Alexander Cadogan, Bri-

tain, zald he suspected

issuetl

read

Menulisky had "not even trou- bled" 10

recent information

Government by the Ceylon about its legislative and constitutional rights.

of

He and eight other delegates strongly supported Ceylon's nd nilarion.—Roster.

ASKS COLONY TO SETTLE

KOWLOON ISSUE

Recovers From His Drowsiness

The queer ailment of thi Bhiu-kit, 24-year-old ployee of the Royal Naval Hospital, who suffered from extreme downsinges for three. days on the run la a

la a renuit of

ས་ exhaustion. Slamping sicknes has been ruled out.

Dr. G. H. Thomas, Acting Director of Medical Services, wald

final yesterday that a diagnosis disclosed that Lal physically exhausted Himself by playing mahjong for threa consecutive nights. During

the games, ho also drank canis siderable amount of vine.

Lai has recavored from the drowalne.

Soviet Diplomat Asked To Leave USA

Washington, August, 20.

The United States Govern- nent today revoked the creden- ials of the Soviet · Consul-

Canton, August 20. General in New York and very satis pushed upward to dislocate his

The Ministry of Foreign temanded his recall to Moscow Sung hip bone. He was in grept pain Affairs has informed the a result of his conduct in The Reynolds Jet Hong Kong Bud radio contact was made with Kwangtung Assembly that it the ease of Mrs. Kosenkina, vin the nearest ship, the Glencar, had asked Hong Kong for an the Russian teacher who jump- 1st Wednestly for Australia via which was en route to Shanghai early settlement of the Kow-ed from a window of the Con- the Straits. On Thursday morning First aid instructions were giver

the chief steward

reported that over the radio. But these proved loon City affair. The informa-sulate. when he got out from his bunk to be inadequate and Rir. Thomas tion resulted from a query his right leg suddenly collapsed found it necessary to return

The State, Department declared to from the inword. He felt his leg numbed the nearest port. The ship turned prompt settlement of the mat-in, was guilty of "abuse of the Assembly urging that the Consul, Mr. Jacob Loma- all over. The mailɛ: was reported

prerogatives of his position and round on Thursday noon and ar-ter. to the chief oficer at breakfast, rived here at 7. nim. yesterday.

Krows violation of - internationally The Kowloon City issue wanaaccepted standards governing the subject of agitations here, lead-conduct of foreign officials."."

It requested that he leave the The Reynolds, for whom Doding to the burning of the British well & Company are the agents, Consulate on January 16. The United States within a reason- came here from Japon on August sulat have been rebuilt, and Mr.

residential buildings of the Con-able time."

The 'State Department sørved 13 with 0,090 tons of coal. She

TROUBLE LOOMING WITH HUKS

Manila, August 20.

arthorised to inciruet the Central Brig-Gen Mariano Castaneda, Commanding Gon- oral of the Philippine Constabulary,' want to Pampanga Province today to conduct on the spot survey of the Huk situation. Reports said that a number vince, Mr. Jose B. Lingad who

i-gued if it shout and the total

am of outs a ding every

is not in accordance with the

legally prescribed reserve-Reu- of Huks had been killed in en- reportedly asked the Department

ter-AAP and Associated Press.

"Varying Reaction To Bun Dollar"-Page Seven.

SHAH IN ROME

Ronse, August 10. The Shah of Iran ended

his

within a aix Methods of disposition regard- ing Talwan and Sinklang cur- The registration by Chinese na-rencies will be devised separate- j tionals of all holdings and pro-ly by the Executive Yuan. perty held abroad valued in ex- Sixthly, beginning today, all Yess of 3,000 U.S. dollars wasternunting and book-keeping, visit to Rome today by giving uni ordered in a presidential mandate public and private, will be placed official dinner and reception to | Luigi Elnaudi, the Italian Presi- on the basis of the gold yuan.

Seventhly, methods of dispos dent and Alcida de Gasperi, the Assels to be registered include bank deposits, foreign currencies,ing of government bonds issued Premier.

in terms of Fapi. which have not gold buillon, gold bars, stocks, yet been redeemed, will be de- bonds and tle weeds.

All Chinese

tionals except thuse recognised or regular over-_-" geas residents are required to re- gister their foreig babels held prior to August 20, 1948 and re- gistration is to be completed be- fore December 31, 1948.

The

On Friday he will see Pope and he leaves for Florence

counters with the constabulary, of Interior to send reinforcements It was also learned that Pre-lo the province to cope with D sident Elpidio Quirino summoned possible major outbreak of post- the governor of Pampanga Pro-umnesty violence.

Threat To Greece

The

of i

There was no confirmation press reports that the Huks - in Pampanga were poised for a large scale attack.

Brought Coal

was bullt at Suvana, Georgia, Gerald-F-Tyrrell, the new Con--this notice on. Russia in reply to 1944, and went insediately into sul-General, is expected here at various Soviet notes of protest action in the Indian

Theatre the end of the mouth. the last war She was at during damaged. The Boysolde was also a trooper for same.

She carried two former Rovri Navy personnel who are on the way to Australi·

Austin Workers

On Strike

Birmingham, August 20. More than 17,000:aŭto work-

Meanwhile the whereabouts of Congressman Luis Tarue, Huk Chief, could not be ascertained. ers here-some of Britain's was known he was in most important. dollar corners to work this Pampanga with the Huks last did not come Bunday but no word had 'boen¦morning because of one man heard of his activities since at one machine. then,

Athens, August · 20, United

Nations Special Committee on the Balkans said. in a report published here to night that the ald received by the Greek guerlilas from neigh-

Col. Alberto Ramos,

the Constabulary bouring cours

was a threat Staff of

Chlof of

and

vised sepurately by the Executive on Suturday to spend a few days to Greece's independence and in-military adviser to the Presidentment claimed its new gear box |

Yuan.

| privately-Associated Press.

The strike hit the Austin Mo- tor Works bechup the mannge -

driller should finish 900 boxes a tegrity, and a dunger to inter sald he would recommend that day. The union wild lis MAHI [national pence and security in the special

policemen-former thought he could do,200. the Balkans.

civilion

disbanded In

The result: The makers of, thà stards be dist The report stated that Albania, order to minimise the possi

possibility best-selling British car in the helped of encounters with the Huks. United States was forced to close the Greek rebels "In the form of The elvillan guards had been down-United Prees! war materials. use of territory warring with the Huks side by for tactical operations and their side with the Constabulary return to Greece after rest and the past two years-United Pross hospital. treatment",

RADIO-TELEPHONE IN and Yugoninvia MEDICAL LAUNCHES

Application for registration must be flied with the nearest Chinese consulates or consuler To offices. All Bank deposits, cash holdings, and pracceds from the sale of assets, except the specified amount to be retained under the permission of the Ministry of Finance, shall be turned over to the Central Bank of China, ór designated banks...

Assets Abroad

Advisory.committees on the re- gistration of prsetr héld abroad by Chinese natiouals will be set up immédiately in Nanking,

On Other Pages

increase the efficiency of Hong Kong's port health control, radiotelephony equipment has bean installed in one of the five “medical launches" of the Port HealthTM Office..

The Committee recommended the United Nations to ednings lis vigilence in the Balkong “for Jas long as the present disturbed, conditions prevail on, the Greek,

The doctor on duty makes launch or additional medical per-northern frontier.-Reuter, hls routine inspection of incom-sonnel needed can be rushed, to ing ships while in constant the ship immediately on receiv- communication with the heading the distress office at the Marine Depart-operating launch.

ment.

Successful

US Warships

In Pakistan

Karachi, August 20

for

P.I. RECOGNITION

OF KOREA

The Weather

A1. 1600. GMT (2) Hong Kon Rummer Tima), the tropical debrisson was centred about 156"flag ABE of the colony, moving' W or WNW at 13 knote. Manila, August 19; » It idcited, with 'n 'simptons trouxh The Philippines Republie's re-stretching from North: Indo-China-to the | cognition pdf the new state of Lawson Straits to a deep depression · cast.

Korea was transmitted today by of Houska. the Department. “ of Forolen

call from the

· Premure remalha blah,în “a pidge from **Signal Tower

Aftales to Dr. Synginan line, C. China to Kanchalke IN The signal tower operating the

President of Korea,

“Today's "Forecast:÷Fresh?” East (“wində Lime. mni dial is about four, miles

Thự recognition was in the ring and coming strong" The a from the vicinity of the quaran~

Yesterday's Weatherin The American Navy came to form of a cablegram igned by lily with paingly, showers the "China, Mall, that the opera

The Port Health Officer told Uno anchorage, and formerly Pakistan today for the first time ident· Elpidio Quirino, which Masimini 90.7 deg. Fahí

much time had been wasted in since the Dominion was tab- sald: *Itake pleasure in ex-Minimum: 80.1 de Fah tion has been very successful having to wait for the launch to lished a year ago and sailors tending sincerest wishes of the Runshiner 26 hours Immediate, and constant com- return to the head office pler to made the most of the eplebra and the Filipino people for the

Republican of the Philippines atafall -3.00-15.Total loss munication between the doctor send in reports.

tions

***xa; (1~~1697.2/ 129.1465,33- 10. M on duty and the head offlee is a The Port Health Office is the

„agniort naamveruke, GE 3818.6 - 1.4 It started early in the morning of the now state of Korea and continued prosperity and necessity in port health control Bras to ultillac odio telephones whers the cruiser Toledo accom- well-being of the Korean people."

ASSE Lendligi já Tracking Down Air Currents and the installation of the radle the Marine Department. It is panted by two destroyers, rod United Press,AN SENT

· Page Threa

telephone has facilitated opera-rellably learned that the next la-1-21-gun? saluic. upon · entering Protest" On Phano Depolttons considerably

stallation of the set will be in" | •Hd, harbour,” The Pakistan, 'ship, i In the event of emergency be the lighthouse tender, the Lila; Sind, returned the salute PH.

is undergoing general re-

Then the sallez took over the can be contacted and the singestary' preperations finade. The biggest launches of the Marine will be ready Department, sarpes the severa

"Page Two

Pant Eight"

Many Motoring Page: 2 (NE AT LA Cliens, explained, the fiend which is Lila, one of the indin. They raced up and down†facturers will be invited to tan-|

vis Moscow Talka Drag Onz

Prok Fourteen

troy

ambulance'

now,

at the pier to rdesiva the pallent, | Lighthoubes arount, the, liarbour in andangantal apogrupodation, wild sugging: thuir staff and; equipé

bë prepared it favanew. Eala limi

Karo, ako manipidaxo" 1001.0 m.k.

Bio Canberra, “August 20, British and United States manu how Point perde M

Wind Directions ECMİN ADLANTAT Wind-Voron Karachi streets on bicycles, dog for television equipment for ickshaws and taxin, virkai experlitiontal_mationg, which; ́| 3* -koan

Fakistan arranged a variety of was announced today are to be

for the visitors galablishga vaqon 24thgu Aurira- | KAW

regarding Mrs. Korerkini and This issue is also left pending two other Soviet school teachers who were similarly unwilling to the No date has been set for

go home. formal. trial of 29

Auspecta a rested following the five break-Associated Press,

STOWED AWAY IN PLANE

Two

out-

The United States Govern- ment must categorically reject the charges and Insinuation con- tained In these notes, which have Leen found to be at complete variance with facts," the reply Kald.-Reuter.

London, August 10. Among the pursengers leaving 'Czech stowaways who by the General Molgs today are arrived in Britain last night after 187 Indian studenty, who arrived flying from Prague crouched in here from India accently. They Government-spon- the tall of a Czech Dakota plane, include 125 today received permission to stay sored university students. The in Britain for six months-Reu Indian scholars will go to various

ter

Amertean imiversities.

DRINK

Refreshment headquarters

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