1923-07-25 — Page 2

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Tel. Central No. 135.

J.

THE- HONGKONG DAILY FREES, WEDNESDAY, “ JULY 25TH, 1923.

THE TRAGEDY OF CENTRAL GERMAN WEALTH ABROAD. | P.&O.BANKING CORPORATION

EUROPE.

IBT LASKMEAD-BAKTLETT, C.B.E-THORNTON BUTTERWORTE, LIMIT 1 NET] (Specially reviewed for the “ Hongkong

Daily Press,

The average person does not know many of his follow-med. In the course of a life- time we become fairly intimate with those of our own household, with our work a day colleagues or with those who share our pleasures. Also, a fair number of the public men of our time and country, are to some extent known to us, even if we have never seen them. We may never have spoken to Lord Mories or Mr. Lloyd George or the Bishop

of London; but we have read their speeches or their books, their faces are often. in the picture papers, and we are able to for a fair idea of what manner of men they

are.

But, especially for us who gut our wurid news in six-line telegrams, there are other public men whose

are failing names buit uf whom inust DI know

all. It is of such

it

HOARDING OF MONEY IN OTHER COUNTRIES.

In their market review issued on June 1st n rominent firm of London stock. brokers draw attention to the amount of Gorman wealth hold in other countries and the effect that may ensue should a German national loan be issued in the near future as a result of a settlement of the reparations question. They state:

Although the pries movements in the principal sections of the Stock Exchange show no wide variations in the past month, there have nevertheless bren poli- theil events that may prove of far-reach- ing consequence in the effects on the stock markets. The resignation of Mr. Bouar Law owing to ill health and the advanes ment of Mr. Baldwin to the Premiership, though not expected to change the ont

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C. OHAMPKIN. The Rahe position also entered on a new

Manager. such stage, when the German Government

made another inadequate offer to the: Allies. Other significant events were, the heavy satengs of kaprisonment on Ger- mun industrial magnates impoaned by the suficiently supported by the German Government, had a fresh precipitous drop in its market value. "

really nothing people that Mr. Ashmead-Bartlett tells us in The Tragedy of Central Europe, and to his readers Bela Kuhn, Michael Karolyi, Ad miral Horthy and other Reuter, folk are introduced as actual persons and am al-French, and also that the mark, no longer THE INDUSTRIAL AND COMMERCE most as real ns, say, Betsy Trotwood, Will oughby Patterno or Sir John Falsta

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The present dendicek 'cannot contiane account of the strange events of which he indefinitely, and it looks as if the Ger man Government will be forced before was the eye-witness during the year 1919 in the small States which have arisen from the long to relinquish the policy of evasion hitherto pursued by successive govern- ruins of the old Dual Monarchy- but good novala dre readable and so is The Tragedyment, and to make an honest effort to of Central Europe.

comply with their obligations. While the In January,

1919, the author was invited German State may be poor, this circum by Lord Burcham to go to Central Europe sauce does not apply to those individual to write a series of articles for the Daily citizens who have stored wealth away in Telegraph and he was thus enabled to visit other countries to be out of reach of enemy countries within two months of the foreign reparation demands and possibly Armistice. His first destination was Vienus of domestic taxation.. Great Britain. and.

Switzerland passing from

to Spain, the United States, and South American countries, are all being used as the temporary storehouses of German wealth Switzerland also benefited until! fears of a capital levy drove funds into other countries.

he Fleft civilisation behind and the devastated zone. The contrast was glaring. It was just as if the guds had cat Europe in two with a sharp knife." The whole population was absolutely on the verge of starvation and only the Allied Food Missions

kept the peuple from dying by thousands In addition to

of

mercy, these missions with their errand there were others, all of which, kept at the expense of the Austrians, began to eat up the few remaining resources of the country. "Throughout this

period,"

Air. says

on Ashmead Bartlett, "tuere wns 10 more tiuin var Reparation

ridiculus spectully preparing retur

Commissions

means

the

POSSIBLE ADVERSE INFLUENCE

If therefore a definitely fixed indemnity were agreed upon and an international German loan issued, it would probably draw forth the hoards belonging to German hationals, and might in con. sequence exercise an adverse influence on British Government and other fixed in. terest-bearing securities that have tem- porarily benefited from foreign funds

The having sought safety in this country from German currency depreciation manufacturer, menaced by uncertainties at home, is often glad to be able to leave funds with a correspondent or business connection abroad on whose integrity he

Treasury officials can rely.

At

wish to hagger that Germany lins

as to what Austria could pay as damages, and our Food Missions working in the same building

striving

night and day of to find

supplying with the jars neces- pupulation starving sities of life. He is thclined to be sarcastle at the expense of the Eatente Missions whose after docus typists produce document meint, Peport after report, unting, up the finances of every country in their endeavours to save mankind and civilisation from big reserve in the United States, and ITO that this Geiman balance has been gradu- irretrievable disaster, when all the time ally growing, from accretions in various disaster, disease, famine and financial ruin

ways, during the past 18 nooths. It is are running miles ahead of them, for even

stated that German funds have found the producer of one hundred and sixty words

ninute cannot keep pace with the fall in their way into short term American Trea- sury Notes, and into American good class the foreign exchanges."

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1 March, 19 Fest and the greater part a very large figure, and that if Germany of the book under review is devoted to the were to come to an arrangement with her 67, tise and fall of the short-ived Hungarian creditors, she could readily raise a buge Soviet which succeeded the still-born Re- loan in the United States. In view of of Count Michael Karoly, the possible happenings in regard to a re- Hungarian Covenant vor lasted arrangement ne Germany's obligations to fout months. Under the government of the allies, it is well to consider the prob Bela Kuhn the position of the Entente Mis- able effects of a development of this sions was ludicrously undignilied. They kind upon our own Government stocks wers "protected, that is

impri and other high-class fixed-interest-bearing aunt, and then ignominiously kicked:

securities. Out Was there ever such a musical- cainely nituation ? Here are the victors in the World-War being arrested by the vanquished, acting under orders from

Moscow,

and kept in semi-captivity while Also, in Buda Pest there were thousands who their escorts are made prisoners-of-war. cordially detesting Bolshevism at heart, Who would ever have expected to live to see openly professed to adopt it, because their a battalion of Entente troops made pri- characters were not strong enough to swim The Rouruaniana cross souers and interned within two months uf against the stream. the signing of the Armistice?" When the ed the Theiss on August 1st and entered Bela Kulm Missivas did go, their departure was care Puda Pest on August 3rd.

that the

was up. He fed to organised so as to inflict every conceive realised

ItRussia and was rewarded by Lenin with the able insult and discomfort upon them.

a melancholy spectacle this cuiurred governorship of the Cr Murture of the victors from one of the con- Bat departure quered countries."

fully

.10

the unhappy sooner had minions safely under lock and key, kuack of suggesting a pictare of his and proceeded to put their houses and Mr: Ashmead-Bartlett, who has a happy phungarians, got rid of Bela Kuhn & Ci characters in a very few words, sems to estates in order than they found the

still

mere have met most of the leaders of the un-selves in the clutches of

The Entente must bear garian Soviet. A criminal looking gang," deadly enca for the s

ty for the systematic looting he calls them, and, if their photographs re the produced in this book do not lie, we agree and laying waste of

in which the Hungary Roumanians indulged from August to with him.

The story of the Soviet banquet at November of 1919. The Big Four made no tended by the correspondents of the real effort to check the depredations of the Tines and Daily Telegraph seema al- invaders, and it was only after the arrival most too good to be true With tongues of Sir George Clerk as High Commissioner loosened by enormous quantities of Hun- that a firm stand was made against the garian champagne

Gar-sucking of Hungary, the like of which has es always drink champagne ov.ryone not been seen since the days of Attila the

Hon. had something to say. Under the inttuence

do Revolutionar-

(Why do

a form of indulgence denied to Chapter XII, "From" Realities of liqude, the Bolsbevist leaders told Paris," is a light "and somewhat. flippant

the

ideas

and

interested hearers all their thoughts, sketch of the doings of the Big Four

disclosed. I illusions, and disc and their enormous army of satellites. was amazed at the apparently light- "You cannot blame, as," said

programme of the Soviet Qover for hearted manner in which the most com

Boehm, becoming Bolshevista. The Entente took plicated geographical, ethnological and absolutely notice of

at all until we economic problems were being thrown like formed at

aboviet

oviet. Whilst we wore endeavour boues from the table of ube Big Four ko to establish a Constitutional Govern sub-committees to he settled overnight zent,

bullied and insulted in time for a meeting of the chiefs us." And the the truth of bis words...

complex problems had not been solved to the satisfaction of There was a Golf-course

thousand Bado Pest, but in a at

yesolved. parties invol

He has the the penalty for playing on it in the days of

liko Bela Kulin was ten years' imprisonment deed,

people,

on

theyglishman could not deny following morning. Yet many of thes!

And

a fine of 60,000 crowns. The course which good to say

other

of the post-war policy

had been "misused too long was to be of the Entente Powers, nor dous he ploughed

up and sewn with potatoes for the conceal his regret at the Balkanisation of

benefit of the ice of the

The tragical of the Hungarian Soviet

the Dual Monarchy. But it is easy to be

twise after the event, and our author is more

had hardly been running a month when the interesting when he is describing the daily

Con Fireationists got to work. One of events of which he was an eye-witness.

their

achiovements was the

Two cha

of the book are written by Emperor

apete DIC., to the late

capture Boroviczeny

of 136 million crowns stored in the Soviet A

Embassy at

at Vienna, either for the purpose Karl, who relates that unfortunate monarch's of

propagands. or to enable the Bolshevist efforts to regain the throne of his ancestors. leaders to live in opulence in the event of Possibly because it is, I suppose, a transla ion; these chapters read less easily than the their being forced to flee from Hungary.

In this exploit the Telegraph representative rest of the hook.

There are some excellent photographs,

An

to have played a prominent parts including a singularly evil-looking picture appears The new government was set up Szegedin within the zone

zone occupied by the neutral of the Emperor Franz Joseph French. It was impossible for Bolshevism to thrive in Hungary isolated from the rest of the world, surrounded by French, Boumanian, Yugo-Slav and Czech troops. (Continued at foot of neat Column.)

entertainining book with no dull patches; not literature nor history; but a good specimen of the topical books which have been published during the stirring events of late years-M.

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SIXTY-FIRST

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1923

YEAR OF PUBLICATION.

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Writing from Singapore, under date March 31st, 1992,-Sir Godfrey Thomas, Private Secretary to HRH THE PRINCE OF WALES, Bays!--

S13-1 beg to acknowledge the receipt of your letter of the 23rd instant and am desired by the Prince of Wales to thank you for the copy of the 60th annual edition of "THE DIRECTORY & CHRONICLE FOR. CHINA, JAPAN, THE STRAITS SETTLEMENTS, ETO, ETC.," which His Royal Highness has beex pleased to accept, and which will be extremely useful during the remainder of the, tour.

Yours faithfully,

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Hoxoxoxo.

GODFREY THOMAB,

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