1949-07-06 — Page 9

PAYMENTS AGREEMENT "GREAT ACHIEVEMENT"

SHOWDOWN ON VALUE OF POUND

Washington, July 5.

An eventual showdown on devaluation

of the

British

Pound Sterling is certain.

The British are reluctant Lamper with the foreign exchange valite of their money, but pres sure coms from European coun- tries whose own currencies are oo of Hine with real values.

from the Pressure also comes Hatted States Treasury, the U.S. Econerate Co-operation Adminile- tration ristel the International Monetary Fund, all pressing for a general re-alignment of foreign currencies,

The big question is, when will Britain dryaduc the Pound, or when

crisis ennomic will s pass?

Most authorsiles guess there will Be a revaluation this summer. It may not even cornr this year. If Britain weathers her present hursinos trouble, devaluation can be, pit off.

The thing to keep in mind la thin the value of money rests

of peuple on the attitude

早 ward E.

Devaluation requires the most carefid stage setting of any mone- tary brunneuvre. People must be ennditioned his accept it. Usually all the background is thoroughly explained as is perlude, then over- night -- without

the decision.

London, July 4.

Sir Stafford Cripps, Chancellor of the Exchoquor, told Parliament today that he regards tho Paris agreement on intra-European payments as "a groat achievement of European co-opera- tion which will, I hopo, serve to develop European trade and recovery.”

He said that Belgium will get more dollar aid for the year 1949-50 in return for making grants and long-term credits to some of her principal debtors.

"In this way Belgium's debtors, | previous quarter, to Switzerlandk of whom we are one, should have £4,330,000 against £1,084,000

Minister, maugh of other currency to buy from her without loss of gold or dollars and without being under strong pressure to use for that purpose the grants mude to them. by other countries,"

The French Foreign M. Robert Schuman, flew back to Paris from London tonight after with the a one-day conterence

Secretary, Mc. British Foreign Ernest Bevin,

Schuman's

Usually well-informed quarters here belleve that M. unexpected visit was Britain's economie

Sir Stafford said that by limil- of conditional ing the amount

lofler aid which could

change hands any serious resrlelive effect would be avoided, since the risk Lor the country taking part should be outweighed by the ad-

which they wil vantages

អ

Paris Tolks expanding trade with their from European partners

Tonighi, M. Roland fully competitive systern,

Speaking of the provision that gerle, hend the working

be should be

kept

to discuss positon be- tore Wednesday's statement in

Sir the House of Commons by Stafford Cripps.

review, the

of

in fL more

FIL

scheme under constant Chancellor said:

མ་་་་ **For instance

we should ex- pect to

ist the {1 revision pret grants made from time to time if it should be found that errors I calculations have been made,

the

or if such revision were necessary

to avoid special hardship to any particular creditor."

Record Payments

under

uf

de Mar- ntict of the Levant African

the Department French Foreign Office, is due in London for talks of the Foreign Office.

The chief purpose of his vivit is to report the French views on Incent

with Britain exchanges and the United States un П new plan for Tripolitanin.

the

The new intra-European py- ments agreement was believed to

the have been discussed when United States Secretary of Gold and dollar Rettlements Treasury, Mr. John Snyder, and to Belgium last month

ALL the Marshall

Ambusender. Intra-European paymonta | Mr. Averell Harriman,

mel the French Prime Minister, M. 'Heart agreement reached

recard 2 Brition figure.

Tresoury Queuille, the

the Foreign and disclosed today.

Minister, M. Robert Schutson, at dinner in Paris tonight.

the warning-COMES

The stage how being sel-As- sociated Preses

EXPLOSION IN DAMASCUS

Damuscus, July 4. A big explosion in a fireworks shop here today killed thres and injured seven.

Dainage to the shop, which was situated in the old Damascus city estimated at Syrian

area.

£500,000-Reuter.

Settlements totalled

£6,790,000 £1,610,000 10

to Belgium and Switzerland,

The Agure for Switzerland was

when exceeded in April.

The ument was £1,696,000. British gold and dollar losses to Belgium and Switzerland in the quarter just ended were than twice as large as in the pre- vious quarter.

more

To Belgium they were £10,- 842,000 against £5,031,000 in the

STRIKE DAMAGING UK'S ECONOMY

London, July 4.

The three Mombers of Parliament who have por- sonally investigated the stoppage by 8,000 London dock-workers supporting Canadian seamen an strike, saw the Home Secretary, Mr. Jamos Chuter Ede, today.

that

com-

One of them, Mr. Robert Mel- lish, who has called for a probe by MI-5 (Secret Service), today fold a meeting of dockers they are being used by munists. The dockers, however, vater overwhelmingly against handling the two strike-bound Canadian ships Beaverbrae and Argoment.

The Minister of Labour. Mr. The George Isa

Isaacs, speaking in the House of Commons, again up- pealed today to the back to work.

Authoritative quarters stato that the discussions were cen. tered an general world finan- three ques- cial probleme and tlons in particular:

The payments agreement, (2) Import-export systems existing between European

131

countries and between and the Unitect

Europe States. States.

Marshall Aid problems particularly in France.

The dinner was given by the French Finance Minister. M. Maurice Petsche, this home. Government finance experts, and Mr. David Bruce, United States Ambassador to France, were also present.

M. Schuman attended after bis Mr. Bevin in lightning visit to London.

The talks will be continued to- morrow and would be followed an otell dinner at the French Finance Ministry... Reuter,

by

YUGOSLAV NOTE RETURNED

Canadian seamen on strike, said that this strike can end in Ave minutes if the ship-owners are prepared to give the wages and conditions that they gave before

Belgrade, July 4. Rumania has returned without the dispute started.

comment a Yugoslav note pro- They have dug up a great red testing against alleged physical attacks on her diplomats in witch hunt," he declared.

Bucharest by Yugoslav emigres.

Yugoslavia alleged that M. Milenko Stojanovich, PrCES tache, and another oflctat, M. Boshko Vasich, were assaulted and that the road was blocked to an Embassy car carrying the Ambas- sador's wife-Reuter.

"We are not afraid of M1-5 or the Canadian Pacific Steamships or the Canadian and American Governments, as long as we con- men to gvtinue to receive support from you and trade unionists all over the world," he added.-Router.

Mr. Isanes said that the 88 kale ships include 30 food ships and there nre eight ather vessels undermanmed. There ure 8,336 men out today and their strike is hurting the country,

They are damaging the coun- position, Mr. Gages conomic

try's

Isaacs culd.

At today's dockland MASK

Mr. Ted Dickens, of the Lock-Out Committee", was asked if the dispute will be setiled troops are sent in to work the Canadian ships.

"Witch Hunt"

He replied: "We shall protest against the armed forcom of this country being used as a strike-breaking weapon."

Mr. Bud Doucette one of the

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THE CHINA, MAIL, WEDNESDAY, JULY 6, 1949.

INSURANCE SCHEME

Many Injured In Train Collision

Chester, July 4. Thirty-three were injured today when a passenger train crashed into the roar of an express.crowded with holl-

to pull out from the station here.

10,000,000 Claims "I LIKE THE WAY IT CLEANS

In First Year

►

London, July 4.

Britain's national insurance, ono year old tomorrow, dealt with 10,000,000 claims in its first year, involving 40,000,000 saparato payments.

day-makers which was about This was stated tonight in a report by the Health Ministry, reviewing the first year's working of the scheme, which first took shape in the famous Beveridge Report, and was estimated to cost £452,000,000 in its opening year.

The driver had taken the brakes off when the rear of the train was run into by the Derby to Llandudno train. and his action probably pre- vented a more serious ad- cident.

The Injured include 28 pas- ' cengers and five railway staff. Between 15 and 20 were taken to hospital, two being detained-Reuter.

WALLACE ON THE CRISIS

New York, July 4. Mr. Henry Wallace, leader of the Progressive Party, today wrote to every United States Senator urging the rejection of the North Atlantic Park "be

world economie cause of the crisis."

The scheme covers sickness and pen. unemployment, rellrement sions, widows And orphans' allowances, maternity allowances and grants, and a death grant for adults. The death grunts begin tomorrow.

Tonight's report says that 7- 000,000 new claims to sickness

were made benefit

in the rut and there year

were 000,000 to maternity benent.

Familles receiving family at- lowances Increased by 100,000 to 2,900,000. About 24,000,000 people are now

for

contributing scheme's family benefits.

Echo Of Rommel Suicide

Roschelm, July 4. Former Lieutchant - General af the Ernst Malsel was convicted

Nazim today by a German court

offleca

The Ministry's head office a-which ruled that he helped the Nazis force Field-Marshal Erwin swered on average of nearly 40,Rommel to commit suicide UDO inquiries from local each day. At this and other cento two years hard labour and con- General Maisel was sentenced trat offices 7,500,000 persions and fiscation of 10 per cent of his pro and allowances are maintained in party. But he has already been payment and 800,000 new claims in prison that long so he was given ware settled during the year. hla Immediate freedom.

The local offices were visited

20,000,000 The Sonale begins its debate on by

people,

at an the ratification of the Pact tomoz-average of 500,000 a week. Nearly 2,000 claims a week were made which "The reality of the world econo- for widowhood benefits, mic crisis demands that we stop were paid to 460,000 widows

reconsider and completely

the under 60. entire foreign policy which the Pect expresses," Mr. Wallace

row.

wrote.

"Europe is already approaching a crisis. Britain is on the verge of being forced tu devalue the Pound. It has already been fore- ed to seek an exclusive sterling trading area because of the short- age of dollars,

"There is not one

nation in Western Europe-even Belgium, which has a favourable buionce- that is not free of growing unem- ployment and the threat of Anan- cial bankruptcy.”

Mr. Wallace declared that it is

Injury Bonofits

The court after * week-long hearing classifed Maisel as a Nazi activist, the second worst type of Nazi.

When' Rommel, the hero of Hit- ler's African campaigns, died in 1944 the Nazis claimed his death was due to battle wounds and gave him a state funeral. But the pr- al-secution contended that the Nazis actually plotted his death because he was suspected of a part in the July 20, 1944 bomb plot against had Hitler.

In addition, guardians' lowances and orphans pensions were also being paid to 10,000 children.

About 760,000 claime been made for industrial

Witnesses, including Rommel's Jurios banefits of aff kinda son, Manfred, testified that Matsel during the year, About 10,000 was one of two Generals who claims were mada esch ak visited Rommel

weak

the day of his for injury benefits, and claims death. They said the Generals anci to disablement benefit,

at polson pen-brought a vial

threatened Rommel that his family alon or gratuity

ho would be persecuted unless 6,000 a month.

numbered

The main weekly benefits and took the polson,

arc:

The court declared that Malsel'

But the court made his sentence

that

now proposed to divert the ener-/ grants payable under the scheme complicity in the plot was proved. gies; capital and the resources of

Sickness and unemployment: 264ght because of evidence those countries to further military shillings weekly, with 18 shillings Maisel had alded several vietins preparedness when all resources

for a dependent and 7/6d. are needed to prevent economic the arst child.

for of Nazi Press Retirement pensions; 26 shii- lings weekly.

and ol- 26 shil-

lisaster.

In the United States, the need for emergency action; to stop-a version of as money to relief domestic depression demands the and depression-stopping policies, he said.

Widows pensions lowances ranging from

lings to 30 shillings weekly.

Maternity allowances: 36 shil-

Maternity grant: £4. 0, 0. Death Grant for Adults: £20. 0. 0-Reuter.

"By adding to the financialflings. distress of Western Europe," Mr. Wallace said, "we are forcing the European nations into more and more exclusive agreements which mean the shutting down of American plants.

Britain's trade part with Argen- tina, ho said, is the type imposed by the Atlantic Pact and the foreign policy of the United States.

**1f our

trade with Eastern Europe were permitted to reach the same per capita level as our trade with the rest of Asia, there would be a 1,000,000 more jobs in America within six months," Mr. Wallace declared.--Reuter.

|

EXPRESS CRASH

Paris, July 4. Five were killed and 19 seriously injured when a fast Strasbourg- Paris train left the tracks between Avricourt and Embermenil, in the Department Meurthe-et-Moselle

of Eastern France today, first re- ports reaching Paris cald, One coach was very seriously damaged. Avricourt is about 200 miles East of Paris-Router.

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