CORRECT on all occasions
VULCAIN
SWISS
MADE:
CHINA
No. 35106
· Estäblished 1845
TUESDAY, JANUARY 22, 1952.
Today's weather: Light or moderate SP winds. Fair or fine and warni.
KANDEX
Price 20 Cents ·
PREI
Colonies' Part In Drive N. Zealand's CONVERTIBILITY OF THE
To Weather Economic Gale
(FROM OUR OWN CORRESPONDENT)
London, Jan. 21,
Cuts in imports which Mr Oliver Lyttelton is to recommend to Colonial governments following the decision of the Commonwealth Finance Minis- ters to put sterling area trade in balance with the rest of the world by the second half of this year, will not result in any reduction of imports below 1951 levels.
The official aim is rather to prevent imports from the dollar area and any other hard currency countries from rising any further.
The Finance Ministers fore
clearly basing much of the confidence in the ability of the Sterling Area to weather the present economic storm: on the hope of increased exports of primary products from the Cclondes,
by
of the prerequisites of conver tibility is a substantial increase in gold and dollar reserves. Colonial raw materials are far the Empire's biggest dollar earners and they are being relied upon again to play a major part in rebuilding the reserves.
Mr Lyttelton said tonight that from the colonies' point of view,
The Chancellor of the Ex-
effectively the two most importam sections ettequer
scotched of the conference communique rumours that some Common- were those dealing with plans wealth countries were seeking for developing Commonwealth to leave the Sterling Arca. The resources and the need for sentiments expressed by the! **frequent and comprehensive conference, he said, "were quite consultations" between the the reverse." In that way, he Governments
added, it was a most Inspiring conference. London Express Service.
This suggests that the colonies will be well represented on the Working Party that is to begin an immediate examination of all possible means of increasing Commonwealth production and also a meetings "on an officia) level which
place will take
auwe
from time to time to review on the measures now considered. Steps will immediately 50
BIGGEST EARNERS
Beggar Wins
Fortune
Venice, Jan. 21.
Venetian
Premier
Mr Sydney Holland, the Prime Minister of New
POUND A MAIN OBJECTIVE Commonwealth Programme To Churchill Down
End Sterling
Area Crisis
London, Jan. 21.
With A Cold
New York, Jan. 21. New York today concelled plans for a city reception
The recovery of the Sterling Area will not be complete because he has a very bad “until the conditions have been created in which Sterling can become and remain convertible,” stated an official communique issued here this evening at the conclusion of the Commonwealth Finance Ministers' Conference.
Zealand, photographed with his son in London. MP.I. SHIP'S
Holland has been attending the Commonwealth Finance Ministers' Conference, and engaging in conversations
in connection with the Royal Tour by Princess Elizabeth OFFICERS
and the Duke of Edinburgh. (Central Press).
INDICTED
"It is our definite object to make Sterling con- vertible and to keep it so. We intend to work towards that goal by progressive steps aimed at creating the conditions under which convertibility can be reached and maintained," the communique said.
cold, officials said. -- "Mr Churchill's doctora have directed him to remain indoors," they added. "The entire programme for tomorrow has been can- celled."
Mr Churchill, who is 77, is slaying at the home of
friend, the "Elder Statesman," Mr Bernard Baruch. He still plans te sail for home tomorrow In the Queen Mary-Renter.
It added, "We have arranged for an investi: NEW LEASE
gation of the steps which should be taken along
Heated Debates On Red Trip To Hongkong the road to convertibility to begin forthwith."
China And Japan Expected In Commons
London, Jan. 22.
Communist China and Japan are expected to figure prominently in heated debates when the House of Commons reassembles next week after the Christmas recess.
ternal economy
to
OF LIFE TO
STERLING
cellor of the Exchequer,
London, Jan. 21, Mr Richard Butler, Chan- who presided over the Common- Financial Ministers
declared the talks had given a new lease of life to
Sterling Area,"
The communique also said order to relieve the current Manila, Jan. 22.
and pressure of the area. The captain and four officers that the Finance Ministers of the motorship Boatswain wealth countries in the Sterling members will contribute
representatives of the Common- "The methods by which Hitch have been charged before Ares had the Manila Court of
agreed during the these ends are within the discre First Instance with illegal export of attention of their governments and will vary according to their talks to bring urgently to the tin of each country concerned fuel oil to Communist China,
"the critical nature The five were charged with present situation and the need
of the individual circumstances, responsibility for the disap-for
"The first and most important wealth Immediate corrective pearance of 118,000 gallons of action."
step is to ensure that the in- Conference which ended hers diesel oil which the ship carried "In this on its voyage to Hongkong on communique added, "they will taken to combat tafiation,
is sound and today with the issuing of an connection,"
the that all possible measures ere official communique, January 4,
put before
tonight that their governments The complaint pointed out certain definite proposals cal-
"This is not only essential for fuel oil is of military value culated in the aggregate to in-improvement in the balance and is exportation without sure that the Sterling Area as of payment, but it will also help He told reporters that the presidential approval is illegal. a whole will be in balance with to keep down the cost of living. Ministers did not decide on a
The Besides demanding a clearcut statement from
indicted officers are the rest of the world In
"Another important require percentage cut in dollar Leoncio Castelo, master; Jose of the second half of 19527ment is to increase exports and penditure because the Sterling Prime Minister Winston Churchill on what trans-Gonzales, first engineer; Stating that the Finance earning power. In some cases Area had a balance of payments pired in his talks in Washington with President Teves, second Ministers recognised that the long-terra, borrowing from our publiken also with non-dollar Truman, the small but energetic left-wing groups engineer; and Celesting Toraya, very serious crisis which, if it is practicable.
Gonzalo Castro, third Sterling Area was faced with a side the Sterling Arès may be A Butler said that each within the Labour Opposition ranks will bring tourth engineer.
not effectively dealt with, will The
Finally, so far as other Commonwealth country. could forward certain proposals touching on Japan and
men were detained by have far-reaching consequences," methods do not fully achieve use the device of long-term army authorities on their return the communique continued. the desired result it will be borrowing if it wanted to,vity from Hongkong on January 18 and held for questioning at the Sterling Area
"The crisis has arisen because necessary as a temporary could borrow money from the National Defence Headquarters. spending more than it is earning
whole is measure to reduce imports. Internationel Bank, the Inter Bail for each was set at $5,000. with the rent that its gold and emergency measures to stop the United States or any other "It was agreed that while national Monetary – Fund, the Defence Secretary Ramon dollar reserves have been falling immediate drain upon the gold country," Magsaysay is reported to have at rapid rate.
reserve were necessary and met requested Ramon Aboitiz "We are confident that this evkable they could only be talks were: Australia, Britain, Countries represented at the President of the
Philippine situation can be set right and paillatives. Steam Navigation Company that the steps which will be
India, New Zealand, Pakistan, which owns the vessel, to ap- taken will give to Sterling the
South * Africa, Southern pear for questioning.-As- strength it must have to continue
Rhodesia and the British sociated Press.
as a widely used internationel
be taken snaintain and increase
Ап almost blind pluses earned by certain colo-beggar became a multi- nlal territories in their trade millionaire in lira today, having with the rest of the world. correctly guessed all of yester
day's winners in the Italian Ministers feel that Tilty
soccer pool. matériak production would be
"greatly encouraged” by re- Because of his poor sight, 72- gularity in purchases from year-old Teodore Causin did not People's China.
notice the posted results. A friend, who checked his ticket, discovered Causin had won.
Aren.
countries outside the Sterling This will probably be one of the questions dealt with by the Working Party investigat- ing. A good deal clearly de Both the beggar and bis 72- pends on the success of efforts year-old wife, Virginia, who Increase colonia! raw ma- who bore him 21 children, were terial production.
speechless.
10
Mr R. A. Butler pointed out Cauti won about 4,240,000 tonight that first and foremost | Lira.-Associated Press.
COMMENT OF THE DAY
They have already submitted | 1. They want Britain to dis- a formal resolution demanding own the Japanese peace treaty, repeal of the Japanese peace and propose a Far Eastern con- treaty because of the Japanese ference attended by the Chinese Government's declared intention Communist leader, Mao Tse- of recognising the Chinese Na- tung. tionalist regime in Formosa.
These 'ef-wing groups have a clear attitude on these questions:
A Dastardly Murder
ORE than three months have passed
numerous
com-
her treaty with Britain and officially- backed acts of terrorism started in the Suez Canal Zone. During this period
outrages have been mitted, considerable damage done to property and the normal economic life of the Zone brought to a standstill. Nothing. perpetrated by the terrorists to date, however, has so shocked the outside world as the dastardly murder of Sister Anthony, an American nun in the French Convent at Ismailla. The death of Slater "Anthony was по accident; enough evidence has been forthcoming to show that it was a cold-blooded and callous murder, and General Erskine, the British Com- mander in the Zone, did not put it too strongly in describing the Egyptian action as an "atrocity by mad terrorists.". Outrages such as this not only have the effect of exacerbating feelings on both sides in the immediate trouble area; they also have inevitable effect on public opinion:-
an
abroad and lessen prospects of a settle- ment. In the light of events such as occurred at Ismailia, the Egyptian Foreign Ministry's allegation that British troops are "not even observing the laws and customs of war," and its references to "crimes against humani- ty," and to the "shameful violation of the rights of man and the most elementary principles of humanity" take on an atmosphere of the grotesque. Parallel with these official absurdities is an increasingly fantastic series of accusations in the Egyptian Press, not the least of which is the allegation of "torture of Egyptian patriots" by the British forces. The accusation is flagrantly false, its object obvious-to fan the fires of hatred of Britain and in particular to spur misguided Egyptian youths who have enrolled in the so- called Liberation Battalion to 'commit further atrocities. The Egyptian campaign can easily, boomerang: its only effect must be to postpone all chances of an amicable settlement of Egypt's differences with Britain.
Commonwealth Partnership
HE feeling grows that things are at To the move and that after touching bottom Britain has begun the long climb upward. Nothing concrete, on the surface, has emerged from the Commonwealth Finance deliberations except full realisation that a lasting solution of the sterling area problems has to be found and a full understanding of magnitude of the task. And these important things. The Common- nitted to the
ally that ondon hall of
a balance of trade sound enough to permit free convertibility of the Pound Sterling. All of which offers high encouragement. It may be asked, of course, how the sterling area ran into such grim difficulties. After all, it is only two and a half years since the last crisis and the last special meeting of the Finance Ministers. The answer is that Empire countries are still not sufficiently informed about one another
If they had been, today's crisis would have been foreseen, and, earlier stepa taken to halt it For permana
has been
2. They rigidly oppose any suggestion of making attacks on Chinese territory.
But the majority of the Labour Party, led by ex-Foreign Minister Herbert Morrison, are more guarded.
An authoritative Party soLENCE Labour said today the whole movement would oppose a major attack on China or the bombing of Chinese cities.
But, he added, many Labour members agree to bombing of the Yalu bases it the Chinese violated the Korean truce and attacked United Nations forces.
The resolution urging the re- peal of the Japanese peace treaty was submitted in the names of six left-wing Laboar members of Parliament-headed by Harold Davies, a Bevanite.
engineer;
currency.
UNDERLYING PROBLEMS
LASTING SOLUTION
Chinese Priest "We are convinced that this Sterling strong and to establish and diminishing at such a rate
Found Buried
Sterling Area's problems must
"A lasting solution of the Colonies and Empire territories. They had met with the be found in order to prevent the Sterling Area's gold and dollar recurrence of a crisis to make reserves down to £834,000,000,
the economies. cannot be attained by negative countries on a sound and stable £500,000,000 in July this year
of member that they would be down to.. and restricted methods alone or
basis, merely by the imposition of cuts
can best be the drain were not stopped.-.-. "These aims
Reuter on imports from certain parts achieved when the world-wide of the world. Rome, Jan. 21.
trade of the Sterling Area is The body of Father Pietro "The present difficulties of the on a substantially higher level Sun, Chinese provincial head Sterling Area, while partly due than at present, when Sterling of Lazarists in Northern China, to short-term factors, also is freely convertible into all The Dutch premier, has been discovered In
a reflect continuing underlying the main currencies of the Willem Drees, mid today, after shallow
grave Just outside problems. These problems must world and its position need no a 45-minute conference with Pelding, the Sacred Congregation and can be solved.
longer b be supported by restric- the Secretary of State Mr Deari Acheson, that an understanding When this state of affairs on the European defence force has been reached, the countries | appeared possible - United
(Contd. on back page, Col. 1) - Prem.
for the Propagation of Faith "For this reason We are tons on imports. said today.
strongly of the opinion that Reports which reached the measures taken to stop the Congregation said that the re- drain upon reserves must form mains of Father Sun were dis
covered by accident and the Part of a long-term policy designed to restore and main- site was marked only with the tain the full strength of Sterling. "It is quite clear that the only prevent a recurrent The reports said that Chinese Way to police officials, who had notified drain on the central gold reserve. neither the family of the priest is for every country in the Area nor his congregation, stated strenuously to endeavour to live earlier that he had died in within the means which are or prison during August-United will be available to it. 'Press.
It walls for immediate legisla-priest's name and age written
on a piece of paper. tion to repeal the Japanese peace treaty act "in view of the Japanese Government's . pre- motore
announcement of its diplcinatie dicator, of policy and, in par dangers inherent in its declared intention of es tablishing relations with the Formosan, Government of Gen-
eralissimo Chiang Kai-shek
All the backers of the resoly-
LIVERPOOL
Hon voted against the treaty REMEMBERS
bil when it was passed by the House on November 20 Reuter.
Saigon Reign
Of Terror
Saigon, Jan. 21.
"The Sterling Area as a whole must succeed in this endeavour.
IMPERATIVE A
"The urgency of the immediate situation and the present level of the gold reserves require that the Sterling Area as a whole should be in balance), with the Liverpool, Jan. 21,. Pupils at Leyfeld School, rest of the world at the latest in in respect of the second half of Liverpool, remembered
1962 It 15 imperative that this prayers today a “wonderful; kind and roble person"Sister should include at least a balance the dollar ares within the whot du Anthony, 62, who was
the convent of St. Vincent de time period. course of ou Paul by Egypilan terrorists Saturday
Paálsonians the Elrecipe bindsters
Sister, Anthony, American nun, taught at Leyfeld School Reinforced troops and police for five years before the war. patrolled the streets (here to- But he had always wanted right after terrorist bigyels to go back to Ingalls where bombs" Injured at least 30 per she served for many years is sons and damaged government || young bleier g Builtingg
Conomunist terrorists attached But Antiiony lett Liverpool fime charger to bicycles : they left parked in
King
CHIN
presentatives of the Corr
Areas
Sto & bring the attention of their
SATISFIED
Washington, Jan,
Sharks
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