1921-10-29 — Page 2

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THE HONGKONG DAILY PRESS. SATURDAY, OCTOBER 2918,

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935

MR. BALFOUR ON THE LEAGUE OF NATIONS!

In the course of a general debate at Geneva on the work of the Council of the League of Nations, Mr. A. J. Ba- four bail this to say on the subject:

CHINESE BORROWING. MORE THAN 30 RECENT LOANS.

4. SALT SURPLUS AS SECURITY

The Kuo Wen News Agency says it learns from very reliable, sources that Lord Robert Cecil has complained that during the past several months the the volume which you all have before Peking Government has borrowed not you, the volume embodying an accountless than $10,000,000 with the salt sur- of the labours of the Council, which is plus as security, More than 30 different the subject of our immediate considera-Joans of from several lakhs to several tion, is rather a dull volume. It is millions of dollars represent this huge very duit volume. I recommend nobody sun. The money, which comes from

Ito occupy their lighter hours by a study Chinese and foreign sources-20 odd of its contents. Lord Robert's solution banks in all includes 25,000,000, yen is that we should find men of literary16,000,000, francs 5,000,000, German marks eminence whe would add eloquent and 5,000,000, Italian lire 12,000,000. This picturesque touches to the rather dry larger part of the money comes from record of facts which the volume con-Chinese banks, but the foreign banks have loaned not a small amount “to tains. It would be a delightful remedy Peking: The Bank of Communications if only it could be applied. But I do has lent $4,000,000 in two payments, the not know whether it is within the sphere Russo-Asiatic Bark has made 19 loans of practical politics. that we should ($1,000,000 the first time and analler Bums on various other occasions). The direct the Secretary-General to look loan of the 3,000,000 German marks wAI about for distinguished men, of letters also made by the Russo-Asiatic Bank, French or English: I suppose they must which has loaned in all about 24,000,000; be either French or English, as these are The Putung Banking Corporation (back- the two languages employed-who shoulded by the Yokohama Specio Bank) so enliven the pages of this record that 83,000,000; The Pien Yih Bank two loans the world at large would put it on its totalling 81.750,000; The Peiyang Com- breakfast table, and that the work of the mercial Bank twice totalling 120,000 and, Council should become a topic of habi yen 1,200,000; The Hongkong and Shang." fual conversation in all intellectual and bai Bank, four times, totalling $1,200,000 social circles. I am afraid that is burd to the Exchange Bank of China: 8500,000, carry out. The truth is, that the report yen 1,010,000, and German marks 500,000; would be twice as interesting, if it could The Yen Kee Bank $1,000,000; The Shen only be made four times as long. Al Kee Bank twice totalling $300,000; the the topics dealt with here are really of Ming Hua Bank $500,000 and tools extraordinary interest if one had tho

700,000: Asia Developrient Co. Jen details, the historic setting. A man who 2,500,000: Kango Bank you $50,000, really knew all the circumstances attach- ing to these negotiations, to this work and its conclusions, would get an insight into contemporary history and into past history, and into the relations between the two, which would be of profound in terest. But that can only be done if you put in details' which "would 'swell a volume, not already very amall, to many times its present bulk. I doubt whether that is possible, though I should, I ad mit. like to see some of the matters that are really of interest put in. for if they were put in, all the complaints as to the dullness of the document would, I am convinced, be removed, or, at least, mitigated. At present, I make only one sugestion. If any stranger to our work wishes to extract from this volume some idea of the magnitude and the value of our labours, let him not attempt to read this volume; let him content himself by reading the table of contents. Let him go over the items one by ons; let him consider the arrangements th we have succeeded in making, or that we have

Ukura, Co. yen 2,450,000; Bank of Com meree francs 4,250,000; Yung Tah Bank francs 1.000,000 and Sino-Italian Bank Lire 1.500.000. Other banks have loaned smaller sures of from $200,000 to $300,000, to the extent of 31,800,000

It is interesting to note that in all these loans, salt surplus has been given as security. The total amount of the Salt Surplus is 880,000,000 per nanum, but with the Southern provinces, as well a Chang Taolin and a fow-military-lead are in the North, withholding their shares, the actual income from this cource is about $19,000,000. This amount certainly is not enough to cover these loans amounting, to $40,000,000 plus 10- If this is kept up next year's terest. surplus and the year after next will not be Racient.

SHANGHAI

TRADE.

attempted to make, between utions Messrs. Iibert & Co.'s Pleca. Goods which were in dispute. Let him con- Market Report saya:— sider that we are actually governing

Scarcity of money amongst native in- important regions of the earth, and thay have yet to govern more. Let hinancial circlee has brought trade almost member that we have established, or, are to a standstill during the week, native in process of establishing a Court of time being, and rates of interest remain- credit being practically paralysed for the International Justice. Let him remem- ber that we have set up machinery for ing at an excessively high figure, e protecting minorities, and that we mean

Tls. 0.70 per Tia. 1,000 per diem, which that that machinery.shall work. Let is equivalent to about 25 per cent, per him remember that we are dealing with annum. With money standing at this. the question of disesse all over the word, figure it has become impossible to finance and, not to swell this enumeration to any but the smallest parcels of imports. undue lengths, let him aleg remember and clearances are consequently very that we have played no animportant much smaller than was the case in previ part in the efforts which all men of good-ous weeks. There is unfortunately little will are making, wherever they may be, Prospect of immediate relief from this to re-establish upon some solid basis that state of affairs ash native six-monthly economic prosperity, without which, all settlement of accounts takes place this the efforts of the League in the direction month and caution is likely to be the of peace. contentment and good will watchword amongst the banks antil that

iq successfully concluded. among men must necessarily fail Any man who reads this index should, then ask himself this one simple question: were the League of Nations abolished to merrow, what body either exists, or could be found, which could do these things? If he asks himself that one question,. I will answer for him that be will get up from the perusal of this table of contents s convinced and lifelong supporter of our work. (Loud applause)

-A DEADLY WAR GAS.

RESPIRATORS OF NO AVAIL.

Sir William Pope, speaking at the Convention of the Society for Chemical Research at Montreal, declared that at the time of the Armistice a new vapour was discovered against which respirators would be of no avail. It was so strong, he said, that it would stop a man if it were present in the atmosphere in the proportion of one part to five million. At the same time the Allies had sufficient. supplies of mustard gas to have envelop | ed the Germana kuce-deep-

Sir W. Pope urged that from the humanitarian point of view gas was more merciful than high explosives. Chemical agencies, he added, would be the sola deciding factor in future wars

One of the great characteristics of the English people is laziness, Canon Lyttelton.

The only bright spot in the picture is the fact that not only in Shanghai but more especially in the up-country marts, there is very little stock of cloth, from which it may be inferred that a substan- tial buying movement is likely to be ex- perienced when the monetary situation permits.

HONGKONG VOLUNTEER · DEFENCE. CORPS.

ON EES BY LIEUT.-COLT" L. O, BIED," V.8.0.,

ADMINISTRATIVE OMMANDANT.

PARADES.

Field "Day, Sunday," s0th. Mounted Infantry parade at Star Ferry,

Kowloon, at 8.30am

Dress: Drill order (helmets) - with haversacks and water-bottles, bau-` doliers,

Infantry and Machine-gun

Platoons

parade at Blake Pier at 6.30 a.mi Dress: Khaki jackets (helmets) shorts, or kilta, belts, braces and pouches.

· Haversacks ... and water bottles. Rifles" and "sidearms · Greatcoats should be taken and left on the laanch for use on the return jour- ney. Haversack rations and blank ammunition will be issued at Blake Fier.

Becruits drills will be held at Head-

quarters on Monday, the 31st inst and Kowloon Docks, on Friday, -November 4th, at 5.30 p.m. Dress Pisin clothes.

No.

PROMOTION.

WHAT IS EYESTRAIN? The eye has certain tiny muscles. When objects we look at do not come up to a sharp focus in the eye, these muscles exert themselves unduly and enable us to see clearly in spite of the defept. These muscles tire and relax causing the objects looked at to become blurred and indistinct. Upon closing the No. 166 Leo. Corp. A. G. Simpson, M.O., eyes for a few seconds the muscles becottish Co. Headquarters, is per

come more or less rested and "objecte are clear again for a brief period. Properly fitted glasses correct eye-strain, whether caused by astigmatism or age. The Hongkong Optical Co., successors to Clark & Co., Manufactoring and Refract ing Opticians, 83, Queen's Road, Central, hare the equipment to fit you gisanna properly-ADYZ.

25% Fte. W. D. Fiddes-Wilson, Mounted Infantry Section, to be Lce-Corpl. dated the 28th inst.

REVERSIÓN.

mitted-to-rovert to the rank of Piper at his own request, dated October 28th, 1921, :

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