1920-02-05 — Page 7

CABLES.“

LATEST CABLES.

{THROCOR BEUTER'S AGENCY,]

THE BRITISH EMPIRE AIR

POWER.

INTERESTING LECTURE BY GENERAL SYKES'

LONDON, February 2nd. Major-General F. H. Sykes' lecture which be delivered before the Geographi- -cal Society was attended by a large and most distinguished company which includ ed H.R.H. the Prince of Wales, and offcial representatives of the Dominions. The President (Sie. Francis. Young husband) said that HR.H. the Prince of Wales was doing Empire work of the

greatest importance He had been success fully endeavouring to put various parts of the Empire on good terms with each other, and he had made himself a very precious Empire asset. He hoped the Prince would learn from the lecture some thing of how he might in future, possibly, go to Canada, Australia, New Zealand, South Africa and other parts of the Empire and open Parliaments; and to India to open Durbars

Major-General Sykes expressed the opinion that if the Empire air power, both Service and civil, were developed and co-ordinated, our air supremacy might in the future be more valuable in assisting to maintain the world's p peace than ses supremacy in the past.

Examining air routes Major-General Sykes said that the Egypto-Indian route held out any advantages owing to the great saving of time that was possible compared to sea-voyaging. Similar com- ment applied to the route from Cairo South Africa offered to Baghdad. potentialities which it was impossible to BAKERS, The long seaboard of the two islands of New Zealand seemed chosen by nature for seaplanes. The practicability of Malta as an intermediate landing ground was now being considered. Tha lecturer dwelt on the necessity of co-opera- tion by the Post Office Air mails were the real foundation of the whole system on which Imperial routes must be based. La order to compete successfully in commerce aircraft must aim at completing a jour ney in one-third of the time taken by other

transport,

EX-GERMAN SHIPS IN BRAZIL

REPARATIONS COMMISSION RAISE A QUESTION.

THE HONGKONG DAILY PRESS, THURSDAY, FEBRUARY 5,

EARLIER CABLES.

AMERICAN STATE DEPART- *MENT

MR. LANSING SUGGESTS IMPROVE- MENTS.

WASHINGTON, January 20th.

In his report to the Senate, Mr. Lansing expresses the opinion that the State Department, especially the portion de voted to trade problems, must be com- pletely re-organised.

FAR EASTERN CABLE NEWS.

[BY COURTESY OF ** THE CHINA MAIL."). THE STRAITS DOLLAR.

VICTORIA GAOL.

QUESTIÓNS BY THE HON. ME. POLLOCK

The Hon. Mr. H. E. Pollock, K.C., îs to ask the following questions at to-day's SINGAPORE, February 3rd.

meeting of the Legislative Council :-- The new Governor, accompanied by

| 1.—Is it a fact that the Indians on the Lady Guillemard, arrived this morning Gaol Staff are recruited locally whilst aboard the Acsimer. He was certhe Indians in the Police are recruited in

India? If so, what is the explanation monially" received.

Will the Government put both Services on the same footing as regards the field for recruiting t

Heplying to addresses of welcome, Bir N. Guillemard gave the assurance that there was no intention by the Govern He urges the establishment of unity of ment to raise the value of the Straits dollar. He also said the immediate dan command as regards foreign trade.

He urges that the diplomatic and Coner of another rice shortage was past.

·EIGHT HUNDRED GERMANS, sular Services be brought closer together

SHANGHAI, February and and given an interchangeable character, also the promotion of Consule General and Eight hundred German repatriates sail Diplomatis Secretaries to the grade of ed aboard the Hudson Haru, yesterday Minister, so that the services of trained bound for Rotterdam. The majority fought at Tsingtao. The dock presented an animated scene, as the uniforms worn were of a multifarious character.

men may be obtained,

THE BOMBAY COTTON

STRIKE

THE OWNERS' TERMS.

Bouay, January 29th.

The cotton mill-owners announce that the terms they are prepared to grant to their employes include the reduction of the working day from twelve to ten hours,

Another batch of repatriates, compris ing the married men and their wives, follow later on another ship

༈་

(THROUGH BRUTER'S AGENCY.]

FATE OF ADMIRAL KÖLTCHAK.

PARIS, January 30th.

- it is reported that the Allied representa

Was Government rice supplied to the prisoners in the gaol during the rice control period last year? Was this rice inferior in quality to the rice which had been previously supplied 1

1920.

CURRENCY AND THE EXCHANGES.

RESTORING GOLD STANDARD.

RECOMMENDATIONS OF COMMITTEE. The following is the final report to the Lerds Commissioners of the Treasury of the Committee on Currency and Foreign Exchanges after the War, which was ap pointed in January, 1918, under the chair manship of Lord Cunliffe:--

FAR EASTERN NEWS

[ARIATIO NEWS AGENCY.] NEW INDUSTRIAL COMPANY.

SHANGHAI, January 9th. Chinen omi-official advices from Tokio indicate that Baron Gotd, former Foreign Minister of Japan, who recently travelled- through America and Europe, is coming to China Baron Goto is interested in the formation of a Bino-Japanese indus trial company for the development of the rast mining and industrial resources of China. It is reported that there are many prominent Chinese officials and businessmen at Shanghai and Feking who are interested in Baron Geto's pro- ject.

CHINESE AFFAIRS IN AMERICA

NEW YORK, January 20th. Dr Jung Kuei, Chinese Charge

FOREIGN KICHANGES. We stated in the introduction to our interim report (August, 1018) our opinion that a sound system of currency would in itself secure equilibrium in the Foreign Exchanges. We have reviewed the critic isms which have been made upon this part of our report, but we see no reason to modify our opinion. We have found 3-Is the food which prisoners in the nothing in the experiences of the war to gnol refused or were unable to eat added falsify the lessons of previous experience to surplus and sold by the Government that the adoption of a currency not con- If so, how many pounds of surplus food vertible at will into gold or other export-fairea at Washington, has been was sa sold during each month in the lastable coin is likely in practice to lead to ordered by the Feking Government to overisque and so to destroy the measure ascertain the natual situation in the six months of the year 1919 7

of exchangeable value and cause a gen Senate with regard to the various reser eral rise in all prices and an adverse vaticns to the peace treaty, especially the movement in the Foreign Exchanges.

Shantung reservation. The leaders of the Republican and the Democratic par us are seriously discussing a compro use. Owing to the rejection of the

SHANGHAI'S HOUSING

The nominal convertibility of the cur rency note which has been sustained by the prohibition of the export of gold is of little value. The weakness of the ex-treats by the Senate, the Shantung issua so much talked about among changes is in a measure due to trade is not

American political circles. * conditions, but an imortant cause of the

With regard to, the loan advanced to depreciation in sterling in New York and China by the Pacifi: Development Cor-

increased allowances varying from 20 to tives in Siberia are energetically endeg. 4 solution for expensive building. The other financial centres is, in our opinion. (paration of this city, the Chinese Farlia-

40 per cent, and compensation for discouring to induce the Provisional Govern ablement, but not including payment for ment of Irkutsk to release Admiral Kolt the period of the strike.

chak and band him over to them on con dition that he promises not to participate further in politics

It is confidently anticipated that the strikers will accept the terms, which are attributed largely to the mediation of the Governor.

ROYAL INDIAN MABINE DOCKYARD. WORKERS STRIKE FOR MORE WAGES.

PROBLEM.

WOODEN HUTS AS-A SOLUTION.

Shanghai, like Hongkong, has its Housing Problem. The C. Daily News of January 31st devotes a couple of columns to the subject of wooden huts as following paragraph indicates the pur- port of the article:

We have received a very interesting communication from Mr. J. Ambrose, of Messrs. Probst, Hanbury & Co. Ltd., who draws attention to the fact that there is a irans house still standing on a lot in the Tro_dway quite near the corner of Chaofung Road, which was

41

to be found in the expanded state of

tres.

telegraphed to the Washington Govern-

The French newspapers are of opinion that no blame can at present be attached to General Janin, but the allegation against him in connection with the arrest crected between 50 and 60 years ago and wise by the Government or by private intention to do any harm to China and

of Admiral Koltchak must be cleared up General Gaida, ex-Commander of the Czech Forces in Eiberia, in an interview, BOMBAY, January 29th. Five thousand employes of the Royal declared that Admiral Koltuk had become Indian Marine Dockyard bave struck, more and more unpopular, owing to his demanding increased wages and a bonus.increasing dictatorial manner.

HONGKONG UNIVERSITY.

SIR CHARLES ELIOT'S. SUCCESSOR.

AMERICANS CAPTURED BY THE BOLSHEVIKS.

中

sound Mr. Ambrose confesses that a which still appears to be structurally

house of this class requires more outlay in the way of painting than one built of brick; but against this he estimates that the cost, of building, even nowadays,

should be 30 per cent, Tess for a house of timber construction, In America, where wooden houses are very much in vogue, the comparative cost of building is reckoned as being 40 per cent. less than

* Losmos, January 28th. A New York telegram to the Paris editor brick. tion of the Chicago Tribune says that the Bolsheviks in Siberis bave captured eight American army engineers and several American Red Cross workers.

CHINESE LABOURERS.

We learn that Sir Edward Denison Ross,, Et, Director of the School of Oriental Studies, London, has been ap pointed Vice-Chancellor of the Hongkong University in succession to Sir Charles

LONDON, January 29th. Eliot, K.C.M.G., now Ambassador to Japan, and is due to arrive in the Colony

The Chinese in France are being rapidly in August.

repatriated from Havre via Canada The new Vice Chancellor was educat-Only about 5,000 still remain, awaiting ed at Marlborough, and Univer-tracaporte, sity College, London. He studied A British officer attached to the Chinese Oriental Ianguages in Paris and for the last three years says that their Stressburg and has travelled ester conduct has been praiseworthy. They sively in Russia, Asia Minor, Central have done very useful work. He is glad Axia, China and Persia. His career to think that they are returning with a

indicated by the is

following round sum of accumulated wages, for Professor of Persian at the instance one company alone takes 150,000 record: University College, London, 1896-1901; franca Principal of the Calcutta Madrasah, 1901-11; Officer in charge of, Records of Government of India and Assistant Secre "It is understood that the Allied Heparatary in the Department of Education, tione Commission question the right of 1811-1914; Assistant in Prints and Draw ings Department of the British Museum, Brazil to sell the ex-German ships...

1914-16; Keeper of the Stein Antiquities, BRAZIL ACCEPTS AMERICAN OFFER

NEW YORK, January 29th. American shipping firms, including the Oriental Company are seeking to pur chase from Brazil the twenty-sight ex- German steamers which were interned in Brazilian ports.

BIO JANEIRO, January 30th."

The Government atates that it has accepted in principis the offer of an American firm to purchase the ex-German ships now in the custody of Brazil, but, in accordance with an agreement with France entered into on December ard, 1917, the Government offered to France the right of pre-emption on the same

British Museum, 1914-18.

Bir Denison Ross is a Fellow of the University College, London, and 你 Fellow of the Calcutta University. He is also a Foreign Corresponding Member the Hungarian Assembly.

of

His publications include: The early years of Shah Ismail; The Tarikh-i- Rashida, a history of the Mongols of Cen- tral Asia; The Heart of Asia (with Mr. F. Skrise); Life and Times of Omar Khay yain; Introduction to Beckford's Vathek; A Polglot List of Birds in Turki, Mancha The French Government was unable to and Chinese; an Arabic History of reply

Therefore, the Gujerat; the Poems of the Emperor Government.postponed the Babur; The Turki and Persian Divans

terms

diately.

?

CABLE COMPANIES INCREASE CAPITAL.

FOR IMPROVEMENTS AND EXTENSIONS.

CHINESE MISSION TO DEVASTATED FRANCE

LONDON, January 29th. The Hon. Mr. S. T. Sze, brother of the Chinese Minister in London, has arrived in Liverpool abroad the Empress of He is in charge of a Chinese France. Government Mission to visit the devastat ed areas in France, and to study commer

IMPORT OF GOLD INTO INDIA"

The following revised arrangements are announced in London -

ment and Government at Canton had

credit in this country. The existing ex- ment against its consummation, and ex- pansion is not merely the legacy of the pressed apprehension lest American wine stress of war finance and Government bor- merchants who are suffering losses at rowings, which even now have not ceased. home on account of the dry legisla rates for money in London below those for the manufacture of wines for Chinese but also in part the result of maintaining tion, were going to form a trust in China. ruling in other important financial con- consumption. This is entirely untrac The difficulties of the Foreign Ex- and without foundation besause the loan has been made to China by Ameri changes position are aggravated by the can interests solely for the promotion of grant of long term loans and credits, whe-legitimate commercial enterprises, in the ther directly or under guarantee or other Chinese Republie without the slightest

country. Few of these loans and credits lenders, to enable foreign States or their Bauerals to pay for exports from this will be liquidated at an early date. The large payments which we have to make to America. North and South, for neces- sary imports of foodstuffs and raw essential that we, in our turn, should plundered and leeted. Nevertheless, secure payment in cash for as large a proportion as possible of our exporta visibla

and invisible. We recommend therefore that preference should be given toexports to countries which are "able to make payment in the ordinary course of trade,

materials

als from those countries make it

Increased production, cusantion of Gov- ernment borrowings, and decreased ti- penditure both by the Government and by each individual member of the nation are the first essentials to recovery. These must be associated with the restoration of the pre-war methods of controlling the currency and credit system of the pantry for the purpose of re-establishing at on early date a free market for ad in Lender

A

M

BANK OP, ENGLAND....

her citizens."

The situation in Mexico, so far as the Chinese emmigrants are concerned, is im proving day by day, and many Chinese

have now returned to their own occupat tions. Mexion is still bandit-riden and not a few helpless Chinese, Beeri

Carrania Government has officially nounced its intention to observe the Mexican-Chinese commercial treaties.

CURRENCY NOTE 193UE.

SCOTTISH AND IRISH BANKE... *We have now taken evidence in regard to the application of the recommendations it our interim report to Scotland and reland. The status of legal tender was Irish Banks of Issue 18 An emergency given to the notes of the Boottish and

outbreak of war when a serious shortago measure to tide over the period at the

of currency was threatened in

a condition When firms or institutions wish to im

of affairs which no

obtains. Some of the witnesses on behalf of the Scottish port gold into India" without incurring

and Irish Banks showed a marked desira risks from possible variations in the ac quisition rate they may enter into a con-

The principles of the Bank Charter Act to retain the privilege of legal tender status for their notes. In our opinion tract for that purpose with the Controller of 1844 were fully considered by us in our

the grant of legal tender status could not of Currency, or, in the case of gold to be anterim sport. We have examined with

be given permanently to the notes of Scot delivered at Bombay, with the Account care the opinions there expressed in the ant-General, Bombay. The terris of the light or certain criticisms which have been tish and Irish Banks except under statu of India will pay for gold on delivery at We have again considered the principles before us indicates that rather than bo contract are as follows: The Government with regard to them. We see, bow-tory conditions similar to those embodied ever, no reason to alter our conclusions. in the Bank Act of 1844. The evidenco the acquisition rate prevailing at the governing the banking systems of the subjected to such conditions the banks time when the contract is entered into. principal foreign countries, and we are would prefer the restoration of the Pirms or institutions which take advan- satisfied that they are not so well adapted war status. We accordingly recommead rage of this arrangement must undertake to the needs of this country as those con- that the pre-war status be restored Wa to ship gold within 3 days of making tained in the Act of 1844. Certain imfurther recommend that when the posi contract, but failure to ship within 30 portant alterations which experience sug- tion which we contemplate in our Interiza days will not operate to make contract gested to be desirable have been made in Report is ultimately reached the cover held or involve other penalty provided the constitution and management of the by the Scottish and Irish Banks for their it is shown to the satisfaction of the Bank during the war, and we do not now excces issue shall take the form of any Controller of Currency that delay in ship think it necessary to make any further legal tender at that time in existence.

recommendation ment was due to no fault of importera

GOVERNMENT BORROWING, Gold not ordered from India, bat by

We hayo considered whether steps We desire to draw attention to the ex- should not be taken at an early date to offices in London or New York for bran ahes or constituents in India, should be tensive use made during the war of the impose limitations upon the fiduciary por contracted for with the India Ofice, who the Bank Wardadeans. Advances from tion of the currency, note issue with

of England. We referred to view to the restoration of the normal rangement will be prepared to make similar ar this matter in paragraph 10 of our in- arrangements under which demands for Cand terim report, and explained its effect in new currency operate to reduce the reserve It no contract is made, gold will be causing credit and currency expansion. in the Banking Department of the Bank paid for, aa before, at the acquisition Parament to borrow from the Bank of demobilisation is approaching completion powers given to the Government by of England. In view of the fact that on a through bill of lading. rate prevailing on the date de shipment England in the forin of an overdraft on the and that as we hope fresh Government of Ways and Means were, as the borrowing will shortly case, we.com- credit name implies, intended to enable the Gov sider that effect should now be given to ernment to anticipate receipts from the recommendation made in our Interim period only. Indeed Parliament by exary circulation in any year should become pressly providing that all such advances the legal maximum for the following should be repaid in the quarter following year, subject only to the emergency. that in which they were obtained showed arrangements which we proposed in para Rose, January 30th.

that it had no intention of bestowing graph 33 of our Interim Report. The The Messaggero strongly urges the upon the Government the power of secur policy of placing Bank of England notes Government to prevent the continuance ing an overdraft of indefinite duration in the Currency Note Heserve as cover of the scandalous situation whereby and amount.

for the fiduciary portion of the issue as stemmers of the Trieste Lloyd going to the

Under the exigencies of war finance the opportunity arises should, of course, be Far East have a large percentage of the Government found it necessary to re- continued. We recommend further that crew composed of Slavs and Germans. borrow in each quarter on the credit of the Treasury Minute made under Section This is injurious to Italian influence and enable them to comply with the statutory 1915, providing for the issue of currenc

Ways and Means the amount needed to 2 of the Currency and Bank Notes Act. prestige, especially in Japan, whose requirement that the previous quarter's notes to Joint Stock Banks, which is im friendship Italy desirca to cultivate.

Ways and Means Advances should be re fact inoperative, should now be paid, with the result that the total out drawn NORTH BORNEO CHARTERED

standing advances remained for a long The Committee wish to place on record time at a high figure We are glad to see their deep sense of obligation to Mr. G. COMPANY

that efforts are now being made to reduce U. Upect, who served as Secretary to the this overdraft to more moderate dimer Committee from the beginning with un- sions We, therefore, hope, now that con- failing seal knowledge, and ability ditions are less abnormal, that the Gov- They are also greatly indebted to Mr. ernment will confine its use of Ways and H. C. Fams, who was appointed Joint Means Advances from the Bank of Eng Secretary with Mr. Upcott in July, 1918, land to providing for purely temporary and rendered important and efficient ser- accessities Euch advances afford a vics in the closing period of the Com legitimate method of tiding over a few mittee's lahours Weeks shortage, but are entirely unsuit able for borrowings over a longer period. FOREIGN BANKS.

cial conditions and methods in Britain ITALIAN PROTEST AGAINST SLAV venue or permanent borrowings for a brief Heport that the actual maximum hadnti-

and the Continent.

LATE MR. H. R. KINNEAR'S WILL

LONDON, January 29th The late Mr. II. B. Kinnear, formerly of Shanghai, left property valued at £50,652. He bequeathed his books and pamphlets on China to the University, of Uambridge.

ROME TO TOKYO FLIGHT.

Rome," January sath. D'Annunzio has telegraphed to Colonel Berliri, Director-General of Aeronautics, notifying him that it is impossible for him to participate in the Rome to Tokio fight owing to

the non-solution of the Fiume queation..

AND GERMAN CREW.

LONDON, January, 30th. Sir West Ridgeway (President) and the Honourable Mountatuart Elphinstone He has chosen Captain Gartinetti, now (Director), of the Chartered Company of in Fiume, to take his place at British North Borneo, left England Gartinetti was one of the aviators who yesterday on a tour of inspection for few with D'Annunzio over Vienna during North Borneo. the war.

of Bayram Khan; Abu Turab's History of Gujerat; besides contributions to magazines, newspapers and scientific journals. His recreations are given in the reference books as music, fishing and languages." His clubs are the Atheneum and White's. He was created & knight in 1818 för valuable service, dur- ing the war in the War Office. He is CLE.; PAD, MEAS., and F.A 8.B. Sir Denison Ross is 40 years of age. and married in 1904. Lady Ross is an accomplished musician, like Sir Denison Boss himself. Mr. S. B. C. Ross, the capital will be offered Postmaster-General of Hongkong, is that D'Annunzio will join

cousin of the new Vice-Chancellor.

LONDON, January 30th. The Eastern and the Eastern Extension telegraph Companies are both increasing

their capital by £1,000,000 each to meet the cost of extending and improving the cable services. The ca to shareholders at par.

"with" Liula

is coming Tranzarelo, who will also participate in Bylisco, Angilotto, and Ferrarini.. the flight. The other pilots will be Lionts,

The departure of the five-aeroplaneg competing in the flight bag been delayed to the last moment advisable before the monsoon break It is still being hoped

(Continued at foot of next column.)

THE SILVER MARKET.

m the up.

LONDON, January 30th. Messrs. Montagu's report of January 29th, states that the rise in the price silver is due to a Reanty supply and the strength of the "China"Exchange and the weakness of the American Exchange. »

Gaspart

Herbert C Gibhs, Goschen, Inchcape RW Jeans, A. C. Several of our witnesses have called Pigon, Geo. Stewart, Wallace. attention to the conditions under which

fSubject as regards the recommendations it is open to foreign banks to establish of paragraph t to the following reserva- that this is a matter which should receive by the witnceses Irom, Ireland, the pre themselves in this country. We suggest tion: Having regard to the evidence given the early attention of his Majesty's Gov-war status should not be restored in Ireland until the Government consider (Continued at feat of nezt column.) the time opportune. Oco, F. Stewart

"ernment ASAN KAMALA