1949-05-26 — Page 6

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THE CHINA MAIL, THURSDAY, MAY 20, 1949. ESTELLAKESHAS A ANI ZEST

GOLD RESTRICTION

Blamed For Communism's Spread

Depreciation Of Hong Kong

Kong Dollar

Unwilling Partne

Dollar Not Wanted

The current international restrictions on thờ zalo of gold is an important reason why the Asiatic is being driven to Communism, an authoritative source, representing big Hong Kong Banking interests, declared in the Colony yesterday. He said that the basic reason for the recent deprecia- tion on the unofficial money market of the Hong Kong dollar is that the Asiatic wants gold ond the International Monetary Fund is de- priving him of getting it by legitimate means. The source said that the Asiatic recognises only.

ono currency which is hard coin or its equivalent in specio.

"We Western

Powers

play the game with the Aslatie," the banking source sajd.

The falling off in the freu market had been due to, Arstly,

a reduction of exports to Chino to a trickle and, secondly, a

"He has the right to get what heavy roduction in the number

he wartz".

of. Chinese overseas remittances from Amerien.

Iar had fallen in value in terms Although the Hong Kong do}-

of United States dolturs. the banklag source ១៧ât

The closing down of Hong Kong dealings in gold started a depreciation in the Hong Kong dollar nu led to a spate of Di wild rumour that are the real emphatically that there has been enpital of the now active specula- tors, he declared.

AL

Nervousness about the China situation was aggravated by the Yangise Incident which had seriously undermined confidence,

time sume

the gold market hurt been driven to the nearby Portuguese island of Macao and to Canton, the capital of the Chinese Nationalists.

the

In the week before last 74,000 Macno gold entered Ounces of alone, the banking source said, An additional 20,000 Ounces reached the same Portuguese settlement Inst week.

110 evidence in Hong Kong what- soever of any real flight of copl- tu as sonic prople seem to think.

be ex-

London, May 24X Britain wänta 'no unwilling the Camera 15 • partners In- wealth, Mr. Philip Noel- Baker, Bacretary of State for Commonwealth Relations, de- clared In broadcast today -Empire Day,

Taking as his subject "The Commonwealth Today," he FR14; "Now we

we recognise that the Commonwealth voluntary association. We do

not want unwilling partners who would impede its work. Ing. That would be a source of weakness, not of strength. Their co-operation le a reality and not a sham."-Router..

Sarawak Appeal Decision

London, May 24.

of The Judicial Committee

au the Privy Council today thorised the relatives of the

to

to

the

The

"White Rajah" of Sarawak to The first real sign of a light appeal against the refusal of of capital would be a contrac- the Brunci State Courts tion of the note issue,

serve a summons in connet- plained. The note issue, however, tion with the transfer of Sare- still stands at about HK$050,- in

Britain outside which 000,000 of

between wak FIIC$480,000,000 and

HK$500,- State's jurisdiction: 000,000 are estimated to be in Sir David Maxwell-Fyfe, King's Counsel, said the sult was inst)- clrculation in South China.

tuted in July, 1948, in the Stale Court of Brunel by the Rajah's brother and Hel-Presumptive Captain Bertram Brooke,

and Captain Brooke's son, Mr. An- thony Brooko, who opposed the ression.

Na Devaluation

Liaquat Ali Khan (second from Left; foreground)"Premier' of Pakistan) and his wife Begum

All Khan are seen in the Clementine Hall of the Vatican after an audience with Pope Pius XH. In uniform le Count Mario Antonini, Secret Walter to His Holiness, and at Right, à mem- ber of the Premier's party.. (AP Photo).

Bao Dai Calls Dalat Meeting On Vietnam

Dalat, May 24,

who

Far East Left Out

In The Cold

New York, May 24. Mr. Carlos Romulo, Philip- plne delegate to. the United the Nations, today accused United States of short-sighted- ness in neglecting. Asin. The United States' policy may have tragic results, he says:

Mr. Romulo- challenged. Ameri-

Ex-Emperor Bao Doi has sent out invitations to Co- chin-China leaders for talks dh'a constitution for the future.Vietnam government, following the French, Government's decision to release Cochin-China from colonial status. ex-Emperor's private secretary, Prince Buu Loc, denying press reports, said that Bao Dai has not had any direct contact with Tongbo, the Centrol Executive of Vietminh, the autonomist resis- tance movement.

signed Hao

Dai,

the Bo for no certificates of in-

Prince Buu Loc said that he

of France-Vietnam agreement with debtedness had been surrender-

could not give the names

en to answer d question-when ed by Hong Kong banka to the

those invited to the constitution the French President, M. Vincent British Government as would Sir Charles Vyner Brooke, the talks, for security reasons. There Auriol, in Paris on March 8 is the West is made secure from in- he necessary if the nots lasue third "White Rajah" of the 50,000 have been certain threats from using Dalot, 130 miles from Sai- vasion, tyranny and danger "Can pend- the other half of the world sland contracted.

gon, as his headquarters is being

mile territory, ceded Vielminh. he grid.

It war, oppression and, want The banking source said that Sarawak to the British Govern-

He also said that the Pring his return to the capitat

He is to make tour of the there lo now a small black ment on May 21, 1946:

visional Central Vietnam Gove It all is that this gold, some of market in Sterling in which the dants were all residents In Eng-un, will shortly resign to per

Sir David said that the defert-

by Euyen crnment, led

Van country and visit Hue and Hanoi.uld plunge it into chaos and The ex-Emperor's final place He then asked the United which is finding its-way to public need not deal for

any legi Canton, has to be paid for infilmate purpose. People

should land and it was therefore neces-

mit the formation of a new of residence has not been fixed, States to take the leadership in the Prince said, but the French stern, construeifve liberal po- United States dollars," the realise that the lowest rate that try to serve the summons out-

Brunci, government. banker declared.

banka

Prince Bun Loc said Bao Dal & Government has offered the old lley for Asia, backed by a pro. can allow the Hong Kong side the jurisdiction of

Palace

along aid "Leave was refused by the Res-

in gramme of económle dollar to go is 4-13/18: It is im- dent in Brunei and his refusal

'sure

mo Governor-General's theta temporary

the lines of Mr. Truman's "bold possible for it to be devalued.

Whatever happens the

new plan." was upheld in the Court of Ap-vivendi can be worked out while Hanol-Reuter. Hong

faree of the Franco- peal in the Státe," he added. ..

the full Kong dollar will sull bear the

Vietnam agreement remains not same relation to Sterling as it

completely operative. does now", the banking source sold.

These gold shipments are re- pofted to have come from South America by nir, otten vlu Manila) and Saigon, the source said.

"The unfortunate part about

Noto Hoarding

Thus the unofficial price of the United States dollars in relation to Hong Kong dollars has risen despite the fact that a good deal of United States dollars teen brought in.

have

solt.

square

The plaintiffs had asked for a declaration that the sovereignty of Sarawak, was inalienable by Sir Vyner Brooke-Reuter,

The Prince said that no diplo mat exchanges can be made with Vietnam until France gives de Jure recognition to an as yet

DEMOBILISATION unconstituted government.

IN INDONESIA

A King's Remains Come Home

The plan of the West would concentrate on the security, pro sperity, freedom and stability of Western Europe to the exclusion of Asia, he said. "The wartime He said that it is "utter rub-

strategy of Europe has been re- Vish" thut Hong Kong banking

suscitated and is being applied to interests are buying Sterling on

the problem of winning the peace, The United States dollar the unofficial market with United

"The new government will be

The fallacy of such a position is Prince scarcity has been increased, the Sintes dollars in an eff

effort

the very progressive",

obvious. The menace to freedom source safd, by a certain amount stabilise the Hong Kong dollars

sald.

is global. Peril is equally present of note hoarding and the fact "Where would we get United

The Hogue, May 24. We intend to practise social

Bangkok, May 24. and equally potent in Asta as in that the delivery of United States States dollars?" he asked, "Dol- Thirty-thousand- men of the reforms, to raise the standard of

The remains of the last of Europe."-United Press. and notes has been used in some lars are as much controlled for Dutch, Army in Indonesin will be life of the masses create Sian's absolute monarchs were case: for telegraphic transfers us as those for anybody else." demobilised in U next eight more social justice.

home today-eight back to America, The drying up He sold that he cannot account months. Colonel G. Pruijs, Direc- For example, we shall favour brought

of agricultural co. years after the former king's of free market exchange it for fluctuations on the Hong tor of Demobilisation, stated here the creation United States dollars 25 0

Lo death in exile in London. re-Kong unofcial

market today. money

operatives," Prince About 18.000 Indonésians are added.

A crowd of 100,000 lined the sult of the situation in China hus, except to say that it is due to

Venice, May 24. being trained for a Federal Indo-

to pay respects to former streets speculation.--Reuter. aggravated the scarcity."

Princess Margaret, left Venice neslan Army, he added.-Reuter.

Prajadhipok, whose remains Economio and other relations were brought back to Bangkok by car for Stresa on her way to with neighbouring states-+ Cambodia and Lewist settled by Commission of in.

Good Company

MOTOR SHOW IN MANILA

Manila, May 24. Sponsored by the Army Trans portation Association the rat National Automobile Bhow since The liberation opened today in the Fiesta Pavillon the Governi 'nent-owned · Manila Hötél, -

The exhibition, featuring mostly the latest models of American zars, will close on Wednesday, May 25-Reuter,

11

Buu

Future Army

1

Кіле

by ex-Queen

be

royal

s

were jummed as

ched

-the

MARGARET OFF TO SWITZERLAND

after four Ramphol aboard Switzerland today Thai warship.

Streets weeks' holiday in Italy. She will spend two nights in Stresa, on the procession passed and some spectators per-Western shore of Lake Maggiore,

before going to Geneva, up in the treetops,

She is due in Paris on Friday.-- The absolute monarchy in Siem

Reuter. (row Thailand) was verthrown beby a crup d'etat on June 24, 1932. and Wenjadhipok later signed a

quiry and, finally, by inter- State conferences Common economic co-operation Institutions and a common Cus

omsystem will eventually introduced.

Frankfurt, May 24. The Prince added that the first constitution He abdicated ជ្រាវ Hans Reinn; brother of the .00 carlets who had undergone six Morch 2, 1930, after which West Gennan Communist lender. menths' training under French Ananda Mobidal was proclaimed Herr Max Itelmann, was one of officers at Hue were presented to King. King Ananda was asassin-the gayen meh killed by an exple- Bao Dai today.

ated three years ago and wassion in a Dortmundmine last "This is the embryo of the succeested by his brother Phumi- night, the German news agency. future Vielnam army," he saidt. phon Aduldet.-United Press. DENA, reported today.-Reuter.

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