1948-12-22 — Page 15

THE CHINA MAIL, WEDNESDAY, DECEMBER 22, 1940.

CHINA CRISIS

FOUR-YEAR RECOVERY PLAN THE BIG QUESTION IS

Huge British Credit Balance By 1952

Gigantic Surge In East Asia

New York, December 20.

"Asin wants to rises out of its drestitution, want andi illiteracy."

Four More Years

Of Austerity

London, December 20.

Britain will probably do without 25 per cent of her Marshall aid next year, but will still face the world with a £100 million crodit balance in 1952-53.

the Reverend Dr Frank This is the overall meaning of the Government's Lauback, missionary educator,

air! yesterday,

In sernin at the S1. Bartholo-

mew's Protestm

Episcopal

four-year recovery plan under Marshall Aid published today.

Church, the Reverend Taubacks. The three main points of the plan are:

satet; "He peoples, whint recogni» tion as equals If we in not help them up they will blow up. They hene one voice unghis revolution und another pouka ut for Christ. †

Word by geeted ang Bese people they do not need to remain potant and slankihito There is for

toward 8. maple

Uson; them

lucation

"The entire human race will be literate by the end of the century. We cannot allow three-fourths of the world to be uneducated and remain say. auen in their hearts.

-An inerente in exporte of at least 50 per cent above 1938 and 10 per cent above 1948.

2.-Capital Investment, for in dustrial and agricultural develop- ment, at the rate of £2,000 mi- lion a year.

essential to their joint roenverze, the report boils, *It is only through careful co-ordination of their dividual programmes that they can make the most econo- mien) use of their resources,"

Buocess will also depend upon financial stability at

at home. "It

3A 15 to 20 per cent inerenza in the supply of

Is manufactured goods to the home consumer, with å speed-up of home food produc- Thon to repiner imports.

The only definite furwast in th fá-page programme is that in the 12 months starling

X2 July, Britain reckons to manage with De Lock down next week | $840 million of Marshall aki com- to oal: 1

in Stam, {pared with $1,260 million Iubia, New Ganon and Korea,—| year.

וי ייזון וויי!

! י י ::

Corrupt Art In The West

Sofia, Decrniler 21.

The Bulgarian Ceramuunjats plan to ban "per veta and ear- rupt filu je ducts of decaying Western art."

Dion in the soult of the immisi) party.”

These promoval:

Mystery Man Was Not A Millionaire'

London, December 20. F. A. Szarwast, financler and banker who was gener- aily reputed to be worth millions, left £71,490. Mr. Starwast who was known as one of the mystery men of finance, was chairman of the Amalgamated, An- thracite Colllories, Limited, before its nationalisation.

He was also chairman of the Covent Garden Opera syndicate from 1930 to 1933 and established the former General Theatres Corpora- tion--Retter.

the object of the Govern.

Kingdom dollar deilcit to mannge ment's budget polity to mainable, dimensions," But Britain's tain full employment, wille en-

surplus with the continentai suring that sufficient purchan-

countries, though small, will be Ing power is withheld to finance

enlarged by the additional sur- the large Investment

plus of the rest of the sterling gramme without Inflation."

area with them.

A Doficit

pro

gramme

STILL UNANSWERED

Nanking, Docombor 20.

¡Dr. Sun Fo's surprise announcement tonight of the formation of his Cabinet came 36 hours after he had informed Generolissimo Chiang Kai-' shok that he was unable to accept nomination' as Premior because he had failed in the task of choosing a Ministry.

The 'overnight change in the, mier wan already prepared to situation was believed to have consider some form of compro=' followed

by pressure

mise. the Generalissimo on Dr. Sun Fo again to attempt the task.

It was understood that the Gen- erallsaima also used his influence to persunde prominent members of the Kuomintang to participate in Dr. Sun Fo's new Cabinet..

This apparent course sill does not Indicate where President Chiang Kai-shek will stand in this policy of appeasement negotiation.

or

The Generalissimo has re- peatedly stated his determination never to work with the Commun- In all events, tonight's an-

ists. So Dr. Sun Fo's significant, nouncement followed day of numerous conferences and discus-guage still leaves the big ques-

tion unanswered, sions. The signleant phrases used by Dr. Sun Fo tonight, rather If some approach to pence by than past policies, some of his

compramise or negotiation { Ministers course which

believed, indicate themie, the question still remains the new Cabinet as where the Generalissimo will muy pursue.

stand. And the Communists hove made it clear that they will not negotiate with President Chlum Kai-shek.Reuter-AAP.

Dr. Sun Fo has announced s

restricted list drawn from both the conservative and libera! groups within the Kuomintang and representative of those who In the past have been opposed to or prepared to accept some form of a Coalition.

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The four-year economic pro- gamine discusses in the follow- thing tering the

This is described by prospects of the

the pro- balance of payments between

as one of the difficult Great Britain mid the continetai | problems which

call for may Countries participating 153 the mutual adjustments in the econo-

mies of the United Kingtiom and Marslut Plon:

the, other participating countries.

Although imports from Western Hemisphere are assum- ed to be cut by about 20 per cent tonight suggested that the Pre-! .................................................................

The plan RESUMES that Bri- tain, working under conditions of rigorous austerity, will close her meaning Import-exporte gap, now running at the yearly rate of $1,128 million, by the end of Marshall aid in 1952.

Must Be Done

Detalls had already lenked From Paris and the only undis closed feature is that the pro- grumme is not a hard forecast on what Britain intends to do.

It is a reeltat of what she must do and the means of doing it.

appears that the tendency now developing for the United Kingdom to be in surplus with the other participating countries

will persist into 1952-53.

"If the rest of the sterling area Jikewise tends

to be in surplus with the other participating coun- tries ins it is now), the latter, taken as a whole, will be con- fronted with a diffleuit steeling problem.

They mise am at ituksetrinnting Journal's

Habroving the Marxistatui Lemon! educntion

A vast industrial programme of

Use Of Sterling of journalet mires"

in urcler

home will spred the export drive. Drally to lady born

the press it is planned to raise the cool "into a reliable dels are of output by nearly a quarter, eles covered by the multilateral use “This should to some extent be general information and educh-tricity

generating enpuelty

sily by of sterling---for example, by fin- nearly a half, the outpirt of steel encing of the United Kingdora's by nearly a third He contained

cit with

the non-collar coun- Sul further expansion is alstries-nut the possibilities of this planned for the engineering in-will no doubt be fully explored. flustries, whose output is already But it is perhaps likely that after Dow meeting nearly 50 per cent over pre-war Sofia, Repersentatives from 14

Faking areount of all such poa- figures. Countries are attending the nicet-

sibilities, the participating coun- Agricultural production will be tries as a whole will tend to be Ing.

nished up to as all-time record short of sterling." of 50 per cout above pre-war and

porting even less food than now,

in resolutions sachoutlet

to the Bulgarian Coloramal Party's Bath Congress

The first resolition to be con- Altered is une urging the building up of Socialison within the count in 1952-53 will be im-

iry by a series of five year plans. This, the proposal acknowledges. will be à Chard lusk-Associated Press,

"FINE LESSON" OF BRITAIN

Parts, December 21, "Pentre is in the full course of material and spidual recovery," M. Hafert Seluman, the Foreign Minister, declarest toriay.

"Frenchmen should follow the éxample of the British, who give as a ne lesson off courage and

·Civic Virtuar," M. Schuman told

an alienes at Saarbourg, Lor rainy,

Britain's balance of payments in 1952-33 should show a surplus of $601 million with the West- von Hemisphere-an overall sur plus of $400 million with the world ng a whole.

The programme anticipates that the United Kingdom will stili

the

and exports here Increased by 55 per cent, Britain will still have in defeit of $201 million with the Hemisphere in the year sinrting July, 1952.

She also expects a deficit equal to $174 million with Russia, East- ern Europe, the Middle East and certalu other countries.

Britain reckons to outweigh these ar

and earn a world surplus equal to $400 million from the following sources:

surplus equal to $816 million with the sterling area and a surplus equal to $40 million with the continent- al ERP countries.

A

Stafford Cripps. Chan- cellor of the Exchequer, who in also overall controller of Bri- tish economy, declared at press conference that Britain's four-your recovery programme under Marahatt ald la based on the following assumptions:

East-West Trado

1.-A continued high level of activity throughout the world, especially in the Western Hemis phere.

have a small surplus with them in 1952-53. The programme states that Britain's exports to these countries have been given at a somewhat lower figure than which is expected in 1948-40.

Imports have been put some 10 Decisive Year

per cent above 1948-40. Tourist 2-A reasonable flow of East- Next year is named as the expenditure by United Kingdom West trade within Europe. decisive year the whole precitizens is allowed for at a

a rate

3-Substantial progress iTz gramme in the detailed pro about one-third

above 1947

European co-operation based on gramme for 1949-50;"which ac

document The

goos on:

"In stable monetary conditions companies Hourlyéar plan. teaming the import programme, Europe. The report states: "By the end

increased supplies of essential 4-Reasonable freedom of of that year, if all gore wall, it products from the other parti- | movement among themselves will be possible to so clearly cipating countries have boen Western European currencies. the way ahead."

5-Political conditions in West-

assumed."

in

of

The British Government will finance various colonial developing this assumption that it has stantial increase in armaments

been possible to reduce the United Fabove present levels. Reuter.

"It is: "It was only bỷ mukern Europe requiring no sub-

ment projects. These will be re- Germany, although defeated,flected in increased exports of was not attempting to remouter food and raw materials vital to democratic treedom, he added. Europe recovery. "Let s remember that an ex- cess of criticism kilis authority, 212741

selfishness destroys the State."

U.S. GENERAL A

IN TURKEY

London, December 21.

Increases are projected to the production of groundnuts, sugar, rubber, tin, copper, cobalt, ba xita and lead. Rubber and cop- per production will be doubled, and the output of bauxite, för

aluminium, will be 12 times great- er than in 1938.

The

production of sugar will be increased by two-Afths.

The crude oil production of Bri-

the end of

Radio Ankara reports that thetish companies should be double head of the American multury the 1947 gure by mission to Greece, Major Generat Marshall aid. James Van Fleet, hus urrived in

Istanbul geepmpanied by #ve officers of his staff,

Essential Factor

The success of the programme

He is to meet there the Ameri- with depend upon full co-opera- can Secretary of Defence. Mr. tion with the other countries in Kenneth Royall, who is touring Western Europe and the Com- Europe to get rst hand know-monwealth, it, is emphasised. ledge of American occupation ce "An Increase in the exchange of tivities. Reuter.

goods between these countries is

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