THE CHINA MAIL, WEDNESDAY, MAY 21, 1952.
VISITS NAPLES:
PINAY THREATENS
TO RESIGN AS PREMIER
Berlin Hit
By New E. German
Paris, May 20.
Imposition threatened to resign should the National Assembly
Berlin, May 20,
East Germany tightened her-economic grasp on West Berlin today by clamping a 50 per cent tax increase on all goods entering East Ger- many from the West,
Oers went out today to all East German goods-yarda an- nouncing the increase from the East German State Railway Headquarters. *
The order is valid torley," West Borlin companies stated
as from transport
There has so far been no official announcement of the duty increase,
The econcenle consequences for West Berlin will be severe, Bedlin transport offelals said, as most
goods from West Germany are destined for the 2,200,000 people
living in the Western sectors
It
The French Premier, M, Antoine Pinay, has
refuse to discuss his proposed gold-backed Joan which is part of his campaign to restore confidence in the franc.
M. Pinay's threat followed the rejection of the proposed loan by the Finance Committee of the National Assembly after the loan had been ap- proved earlier in the day by the Cabinet.
M. Pinay said after the meeting of the Cabinet that the loan was designed to "unfreeze" gold hoarded by individuals because of lack of confidence in the
currency.
The loan, which will launched on Monday, will be National Assembly to approve a guaranteed by the price of the clause exempting the loan bonds 20-franc fold Louis d'Or from income-tax and death (Napoleon) on the Paris free duties. gold market.
be The Government will ask the
"The
repayment
The exact amount of gold in price will private hands is unknown. never fall below the issue price. but should the price of the Imbursement rate will increase Napoleon increase, the
A REAL TEST Estimates go as high as 4,000 the pre-wor geld reserve of the re-top-nearly twice s much as
Bank al Frances will hit West Berlin's proportionately,
Optimistic The loun is redeemable after ruggling industrial revival by forcing prices
competi00 years and carries an interest up in tion with West German pro-rate of 3.5.
·ducers:~~~
Every month, 200,000 tons of foods, mostly food and raw Western materials, reach the sectors
West Germany
saich
by rail.
frem
West Berlin officials that East Germany, benefits all the way round from the raised duty.
Not only will it put an extra In marks tax on freight cross- ing-the East German border for West Berlin but it will gisa
into the put maney munt Exchequer.---Reuter.
Govern-
Franco On Spanish Economics
Madrid, May 20 General Franco, speaking in ilo newly-created Industrial centre of Puertollano in ne Pro- vince of Ciudad Real, said today that Spain had combined Stale elfort and
private with
V
WEDEMEYER
FORMULA
FOR KOREA
finanze officials think that the Icari may promote $350,000,000,000 francs.
The revenue side of this year's budger Telity on obtaining 300,- 000,000,000 franes of loans.
The Government also wants from the public another 100,- 000,000,000 francs in toans for its investment programme,
the
The extent to whitich public surrenders Its gold for the new loan will be a real test of Its confidence in the future of the currency.
The Marchioness of Villa verde, daughter of the Spanish Dictator, General Franco, E- rives in Naples from Athens. She was accompanied by her bgahang.Express Photo.
LOVETT'S WARNING
that
JAPANESE DEBT CONFERENCE MAY BE POSTPONED
Tokyo, May 20.
Japan will postpone formally negotiations with Britain, the United States and France on a settlement of its pre-war foreign bonds until the end of the West German bond negotiations now in progress in Bonn, Japanese sources said today.
In their opinion this means that Japan's talks will not begin until late June or in the middle of July.
Japan set back its conference| date to red the results of Dr Konrad Adenauer's efforts to
win favourable terms for his Far East To Be
Government,
The problems of the two Gofëmments are parallel in ul- n165
all respecta, However, Tokyo may gain lite from wal- Ing if information from Bonn is confirmed that the West Ger- man conference, which resumed on May 13, is stalemated with no hope of a sotullon.
Preliminary the co
Was done in London and in Washington by Japanese financial experts at
to the Embassies there.
not decided
coming mede- work for
to meet the three coun- tries separately or together.
Japan carlier this year de- posited £20,000,000 with the „Bank of Engiopa ang $29,900,- 000 with the Federal Reserve Banking Boord in the United States as evidence of its good faith in its bond negotiations.
19-YEAR EXTENSION
Discussed
Paris, May 20, Reliablo sources wald today
that
the Foreign --Ministers **** of Britain, America and France would discuss the Far East, North Africa and other world problems when they meet here next week after the expected algning of the German práce contract and the European Army Treaty.
Router.
W. Germany. Wins Point
Paris, May 200 What were purported to be The European Army confer
of the basic decisions ençe here today Some
accepted ร made by the Council were re- German proposal that jolgt ported today by the newspapers meetings of the European De- Yomiuri and Nihon Keizai, rence Community and the North
Atlantic These WEFT!
Treaty Organisation be 1That there would be no should in the
held whenever p discrimination
of the majority
the Community petween countries.
thinks it is necessary. 2-That Japan would ask for
-This decision was taken after 10-years extension
* al-France had proposed that joint ready overdue or near-due meetings should only take place bond payments on the argu- when recommended unanimously. The conference also discussed ment that World War II
the duration of the Treaty. a blank period during which which
France wanted-it for 50 years 10 coincide with the duration 3-That failing that Japan would ask for a partial
Dutch wanted it to be limited conversion of overdue principals to the length of the Atlantic to long-term 10 or 20-year bonds
years). paying four le 5.5 per cent in- terest,
Washington, May 20. SOME CRITICISM
The Defence Secretary, Robert Although the Government has Lovett, declared today New York, May 20. promised subscribers an "ab- Congressional
cuts General Albert C. Wedemeyer, solate" guarantee, against loss proposed military budget of former commander of American through future depreciation of $52,000 million could jeopardise forces in the China theatre the currency. this guarantee the ability of the United States called for an American policy alone might be insufficient to to maintain its present troops of "win and get out" of Korea at bring gold from its hiding both in Europe and Korta..
pre-convention meeting bran Montana today to nominate both places.
investors remember Tesiifying before the Senate Republican and Democrat Pre-
Services Government promises Armed
Committee, sidential candidates.
oction of the House of Repro- sentatives in imposing, a limit of $46,000 million on military spending in the coming "Ascal year
EL
Speaking for Senator Rober Taft, the General advocated the arming of Asians to help fight Communism and pleaded for a strong
air force...instead of the build-up of large land aimies in Europe and Asia,
5
a
was
of a similar nature which in Mr Lovett protested against. the payments should be sument of the coal and steel pool. The
Many previous
the last resort were not kept.
Later in the day the Finance Committes of the National Assembly rejected M. Pinny's Proposed loan by 18 votes to 17 with nine abstentions.
50
to our
Mr Lovett said the immediate effect would be to raise a 'serious question ability to maintain troops at present deployed in Europe and those engaged in combat in the Far East."
in
Pact (17
No, decision was taken and the subject interest
will be rosumed Tomorrow. 4 The draft
treaty Includes a list of armaments which must not be manufactured in "strate-
exposed areas". gically refers to Germany. Reuter.
One of its main criticisms
4. That overdue was
bu that interest on the loan
amortised payments would be tax-free.
annual cash instatiments. The Committee has only con-
5. That Japan abide by sultative powers.
the conditions on Sterling bonds Following the Committee's re
which carry dollar payment jection M.
told the Pinay
carry the.. foreign National Assembly What ኮር .
The Senate has not yet de-exchange rate at the time of would resign if they
voted bated
proposed milltary against discussion of the Joan,
the
ht
Senator Taft was said to be District of of the assured Columbia's six votes on June
of his following the naming
ten of the 12 candidates In precinct meetings. He was also enterprise favoured strongly for Mary- happy results in the develand's. 24-vote delegation to the
National lopment of new industries.
Convention. He was Inaugurating a plant
B speech at Baltimore The Assembly then adjourned budget. to extract fuel oil and petrol yesterday, Senator Taft repeated until 8 pm, G.M.T., to allow Mr Lovett said the United from soft coal,
his belief that labour unions the Parliamentary groups to States was now producing en- General Franco said that were making a mistake if they meet and decide their aflitude.tirely new and vastly superior Spains must continue to develop went along with President Tru-
Reuter.
jet planes In increasingly large mun's disputed seizure of the
numbers.
If the House cut were.con-
her industry.
Spain's National Institute of steel mills. He asked: Industry was founded because of
the necessity of setting up new industries, he added.
Cun
"If he seize the companies, why cannot he seize the unions their funds?"
and
.
clauses or
their issue.
6. That Japan pay about $30,000,000 the first year and a maximum of $20,000,000 per year in subsequent United Press.
L
years.
DROP IN BONDS
·
11
„
+
This
IRAQI REGENT AT PALACE
the
London, May 20: Queen Elizabeth, the Queen Mother,
received today Regent of Iraq, the Emir Abdul Illah, et Buckingoam Faladé London, May 20. Bakers End StrikeArmed, Me Lovett said, it would
The Regent returned to Lon- The sudden fall of Japanese Asmara, May 20. mean that aircraft production bonds WDS
outstanding don on May 15 after a State visit In Los Angeles, Mr James Eritrean bakers here today would have to be reduced by feature of the Stock Exchange to Spain. Reuter. the water supply system for the Roosevelt "eldest son of the ended a four-day strike which 3000 planes In The 18 months today. The drop, followed un-
that which involves Inte President, announced that gave Asmara a breafless week from January 1963 and the official information new Industries diverting
from one he is supporting Senator Estes end after agreeing to a 30 per Army would be able to bulid Japanese valley to another by pumping Ketauver in the latter's cam-cent pay increase. They had only 300 new tanks a year.→ | water to a height of 561 feet, and paign for Democrate noming struck for double pay --Reuter. | Reuter. then passing it through a moun-tion voles in California's June 3
General Franco also opened
a stream
tahi tunnel-Reuter.
primary elections.--Reuter
A British Crossword Puzzle
12
13
14
US
06
20
21
22
29
E
ACROSS
1 Portion (5).
4 Degrees of progress (0),
8 Decpyed (8).
10 Crop up (8).
12 Manned (8).
14 Encrage (7).
17 Grant (4).
10 Guided (7).
20 Liberate (7).
22 Image (4).
23 Rubbing but (7).
Ship (0)
29 Hauteur (5).
30 Twofold (6).
31 Summery
32 Upright. (5).
30
DOWN
'I Dry up (5),
2 Additional (8).
3 Throw out (5).
5 Melt (4).
Engine-less plans (6),
7 Coured by summering (6).
p Clothes (7)
11 Holiday ().
13 Wrote down (7).
15 Watched carefully (4).
18 Staggered (8).
18 Cloric (4).
20 Torn 19).
21 Affectionate (0).
24 Salltury (6).
25 Steep (0).
26 Visitor (5),
28 Sutches (4).
YESTERDAY'S CROSSWORD ACROSS: 3 Captured, 8 Bout, 0 Relovant, 11 Elevated, 13 Stay, 14 Confided, 13 piluting,
Hongkong Chinese
Said Backing New Agency In
In London
(FROM OUR OWN CORRESPONDENT)
London, May 20.
A new Nationalist Chinese news service has opened in London to tell the British people the story of the underground resistance movement against the Mao Tse-tung regime on the Chinese mainland.
the
Government would
ask for concessions for refund- ing overdue bonds.
Financial circles explained the recent is in Japarteso bonds by speculation on the desire of the Japanese Government to
refund.-France-Presse."
Churchill Appeals For Time
London, May 20.
The Prime Minister, Mr Win- ston Churchill, told a Conserva- tive women's conference today that his Government needed ume to put things right.
"Even if we had the wisdom.
of Solomon and power that has never been wielded by mortals, You could not change in a few
In charge of the service is Dr Y. S. Chen, former months the evil that has been First Secretary at the Chinese Embassy here.
++
¿A source in close, contact with they may, has been the outcome
the exiled Chinese Nationalist of Blackmail and intimidation: colony in London told me today that the service; which sup
CLOSE SECRET
parts General Chiang Kal- The Chinese in Malaya, how
thek's govemment on Formosa, ever, recognise that they have has the backing and active sup- benefited under British protec port of a number of wealthy tion and are anxious to support and induential Chinese
the Goverment in its fight against Communist terrorism. * Hongkong and Malaya.
Now that General Templer has initiated the polley of giving them a greater share of respon Bibility in civil affairs, Malayan
that Chinese believe
more publicity should be given in this country to their efforts to com- bat Communism.
Some of them, I understand, are giving Anancial help.
the
Qne of the objecta of
to counter organisation .18
"bosille" comment in the Bri libh Press regarding the art played by the Chinese popul5- tion in the fight againșt" Com- munism In Malaya.
good deal of A deal of information 10-
be published by the
newp, ser- vice will deal with the 'under The leaders of the Chinese ground fight against Mao Tse- Nationalists in London for the tung in China itself. China itself. mbut part former officlále of the The sources of information Chinese Embassy who were are a closely-guarded fecret but grunted political asylum in this I understand that much of the When the British Gov. matter is smuggled out of Chhia cument recognised, Communint by Nationalist sympathisers in
the wro
The London news service accommodation win the about the Main Chron
Catural Associa Such Help na the Cinese bava Sump-Brillah given to me Communist andits, Tion in New Cavendish Street.
10 Rest, 21 Molecule, 20 Promotes, 20 Flag, 27 Distress. Dowbelleve that people here) Hopigkong and Malaya.
1 Able, 2 Hulo, Abet, & Ties, B Roost 7 Dity, and to Level, 12 'Lo050, 15 Anul, JA Divot, 17 Dub Shows, 21 Mbor za Lato, 23 Ugly, 24 Edge.
growing and waxing for years," he said.
"We have an immense burden upon us. Almost in any part: of the world we see our interests challenged and threatened," he added.
"We have made no promises that are not governed by limo and reason. We have made no undertakings, which we shall nos faithfully strive our utmost to fuldi. Give us three or four years of steady, resolute, faith- ful government, caring nothing: for class or narrow interests, buy exciting only to enable the British nation to make the best of itself, Gilve us time and then let us be judged. "Heuter
Higher Pay For U.S. Forces
Washington; May 20. President Truman today, sign- ed a 60 increasing the pay of members of the United States ormed forces by an estimated $300,000,000 per year.
"The bill was recently voted by Hib Confess, "It' Boomper
FOR THE
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