THE HONGKONG DAILY PRESS,
TUESDAY, JUNE 2ND, 1925
A
ANNOUNCING
POST WAR DEBTS TO U.S.A.-Contà. from pagè a.
declared another member of the House of Commons, "is that it puts the British Empire at the highest point that it has ever reached in regard to territorial and
Weekly Passenger and Freight Service world influence.
FROM SAN FRANCISCO TO THE ORIENT
Fortnightly
AND A...
Passenger and Freight Service FROM THE ORIENT TO SAN FRANCISCO VIA HONOLULU
First Sailing from SAN FRANCISCO
8.S. PRESIDENT LINCOLN
'*.
The
May 16th.
To SAN FRANCISCO from HONGKONG
S.S. PRESIDENTTM LINCOLN
June 20th.
This Service is Inaugurated
BY OUR NEWLY ACQUIRED PRESIDENT LINERS:
President LINCOLN
President CLEVELAND
President WILSON
President PIERCE
SERVICE.
SPEED.
President TAFT
COMFORT.
For Information and Bookings, apply to-
DOLLAR
STEAMSHIP LINE,
HONGKONG AND SHANGHAI BANK BUILDING, GROUND FLOOR, No.4, DES Vœux ROAD.
Telephone: Central 2477, 2478 and 795..
Cable Address: "DOLLAR.”
THE
12190
SWEDISH EAST ASIATIC
COMPANY, LIMITED,
GOTHENBURG.
Regular Freight Service for
BARCELONA, VALENCIA, AMSTERDAM, HAMBURG,
COPENHAGEN,, GOTHENBURG and Other
SCANDINAVIAN FORTE.
M.V. "SUMATRA"
M.V. "FORMOSA
WILL LEAVE ON OR ABOUT 5th Jang lash July
Subject to change without Notice. For further particulars, please apply to-
GILMAN & CO., LTD.,
Agenta.
THE EAST ASIATIC CO., LTD.
COPENHAGEN.-
The M/S.
AFRIKA "
will be loading for MARSEILLES, VALENCIA. DUNKIRK, BOTTERDAM. AMSTERDAM, HAMBURG, COPENHAGEN, and other
CLLLL
24
SCANDINAVIAN PORTS,
On or About 20th June, 1925
Expected on
or about.
Further
Sailings
"Fera"
អ
Malaya"
10th June
"Tongking"
16th July
"Australien".
"A sis "
20th August
25th September
Will leave homeward-bound on or about
15th July
10th August...
subject to ohange” without notice.
For further particulars, please apply to:-
JOHN MANNERS & CO., LTD.
NOTICE TO CONSIGNEES.
um
OCEAN STEAMSHIP CO., LTD.
CHINA MUTUAL STEAM NAVIGATION CO., LTD.
KONSIGNEES per
TERESTRY Bicame
A
CONSIGNI
are hereby notified that the Cargo will be di
charged into Bolt'e Wharf, Kowloon, where
it
will lie at Consigneer risk and subject to Terios and Conditions of Storage Holt's Whast. The Cargo will be ready for Delivery From Godown on and after 30th May,
Optional Cargo will be
unfees Notice
has been given prior Landed, al
All broken, chafed and damaged Goods are in be left in the Godowns, where they will be examined on any Tresdays and Fridays between the hours of 10.45 AM. and Noow within the Free storage period
No Claims will be
be admitted 7 have left the Steamers Grotted after the Goods romising andalivsred after the 6th June, will be subject to Bent
All Claims against the Steamer must be to the Undersigned on or before the provated
hey will not be recognised... 20th June, or
No. Fits faturates will be effected.
BUTTERFIELD & SWIRE,
Agents,
[2261 Hangkong, 29th May, 1925.
Agents.
THE BEN LINE STEAMERS, LIMITED.
Feaux LEITH, MIDDLESERO, ANTWERP.
LONDON & BTRAITS.
The Steamship "BENÁLDER.” CONSIGNEES of Cargo are hereby inform
that all floodle are being landed at their risk into the hazardous and/or extes, hazardous Godowns of the Hongkong and Kowloon Wharf and Godown Co., Ltd, when- ce, and/or from the wharves, Delivery may be obtained
France acquired as a result of the war 402.392 quare miles, inhabited by 4,000,000 people. She acquired the vast coalbeds of the Swar Valley, estimated to be worth $500,000,000. She acquired Alsace Lorraine, one of the richest regions of the earth in natural resources.--
NA MHAR EN REPARATIONS, The United States, claimed no repara- tions. According to the American Insti- tute of Economics, Germany, prior to the acceptance of the Dawes plan, had paid in! cash and kind to the Allies $6,500,000,000. The United States, did not claim territory or reparations. She did not even claim the fulfilment of the plain contract ander which the moner was loaned. At n sirce when she held the contract of England obligating the payment upon a sixty- two-year settlement of $14,214,900,000 she made a settlement for $11,103,965,000, She has voluntarily proposed to all other debtors, including France, a like settle- ment. If there was any "investment " made in the war it was not by the United States.
It has been urged in certain quarters that the adjustment of the international debts should be passed upon by the League: Court. It is afgnal that if the United States becomes a member of the court, the League should call upon the court to take jurisdiction of this question under its advisory power and render an advisory opinion as to what would be a fair and equitable adjustment. The court could take into consideration, it is claimel, not only the terms of the contract but the equities of the transaction.
EUROPEAN VIEW INDICATED.
John Maynard Keynes, the noted econo- mist and brilliant writer, has already outlined what is doubtless in the minds of those who would have the court give ad- visory opinion upon this matter. Keynes says the debts are not commercial but i
political debts. He amplifies bis views somewhat by saying that France should be credited with supplying chiefly the man power, England the naval power and the United States the financial power.
Vy opinion is, if all facts and conditions were considered and all acquisitions of the war were equitably divided, it would not be a bad settlement for the United States. But what the United States desires is the money which its taxpayers loaned to the Government and which the Government Joaned to foreign Governments, and that is all.
There would be some interesting develop- ments if the Feague Court should take jurisdiction. I presume Russi would be allowed to interplead and thus settle her debt to the Allies, he furnished man power almost equal to all others combined. She mobilized at, que time · 14,000,000 mes, fighting over a front of 3,600 wiler. She lost 2,500,000 dead on the field of battle, 3,000,000 wounded, 2,000,000 taken prisoners, one-half of whom died in |prison, and, according to Idoyd George, it was her soldiers at one crisis who saved civilization. There are a great mÁNY equities and a great many facts in the late war which are being "sadly overlooked in these days.
FACTS OF HISTORY GARBLED.
In this debt discussion we are constantly reminded of some things which we have had understood otherwise with reference to American history. Upon reinvestigation we find our previous understanding correct. A distinguished Belgian Senator has proved to his absolute satisfaction that, on the basis of the loan made to
by France during the Revolutionary War and the amount which he supposes we did not repay, instead of France being indebted Lo us we are indebted to France.
In other words, the contention is that large amounts of the loun were unpaid and that that amount, tögether with interest spon it, would far more than, offset the amount of the French debt.
The fact is that the United States paid every dollar of money loaned by the French Government to the Ainerican colonias during the Revolutionary War, and paid it, when all circumstances are considered, with great promptness and at a rate of interest much higher than we have any intention of charging the French Government. But all amounts which were loaned, onintended as a loan, were repaid, and the Beaumar chais loan was overpaid by a very consider. alle samand, as I bave already stated, with remarkable promptness.
Some dates will throw light on the transaction. Cornwallis surrendered October, 1781 Lord North's Government fell March 20th, 1782. Preliminary articles of peace were signed Nov. 30th, 1782, the definite Treaty of Paris was signed Sept. 3rd, 1783. Fourteen days thereafter, to wit, on Sept. 17th, 1783, the French Government addressed a letter to the President of the American Congrees in which, among other things, Congress was naked to inform the
French Government of what measures were being taken to complete the adjustment of the Freach 1 au
FARECHT REMINDER CITIE.
Again on April 9th, 1784, the French No Claims will be admitted after the Goods Government addressed a letter to th have left the Godowne, and all Goods remaining President of Congress which reads undelivered after the 4th Jane, will be subject follows:
Beat
to
All Claime against the Steamer must be
fith
presented to the Undersigned on or before recognized
be
they June,
will not All broken, shafed and daraaged Goods are to be left in the Godowns, where they will be examined on the 4th June, at 10 am.
No Fire Insurance has been effected. Bill of Lading will be enuntersigned by
GIBB, LIVINGSTON & CO. LTD
Apentr Hongkong, 27th May, 1925. [2249
Luzerne to the President of Congress
"Annapolis, April 9th, 1784
"S-I have the honour to com municate to your Excellency an extract * from a letter which I received from Count de Vergennes, dated the 24th of Decem. ber last.
"I received orders at the same time to inform his Majesty's Minister of the menares which have been taken by the United States relative to the payment of
portions of the principal and of the interest of the sums which bave loaned them by the King. I make mention, sir, of portions of the capital because, by the terms of the contract of the 16th of July, 178, the reialorsement of the first loan of eight millions is to begin three years after the peace and it is expedient to take seasonable measures with regard to this subject.
"I um also to inform my.Court of the arrangements which have been made for the payident of interest on the loan of five millions of Borins made in Holland the 5th of November, 1781, and for which His Majesty became guarantee. I know the efforts of Congress to effect the disclurge of the public debt, and their wish to fulfil their engagements,
INDO-CHINA
STEAM NAVIGATION COMPANY, "LIMITED.
2nd June, Noca Wednesday, Ari Jane, 7 ma
Wednesday 3rd June, 10a.m.
BAILINGS SUBJECT TO ALTERATION. BANGKOK via SWATOW ** HANGSANG" ...Tuesday, KORE vis AMOY, SHANGHAI
& MOJI
"KUTSANG " TRINGTAU TE SWATOW
BHANGHAT SHANGHAI via SWATOW STRALTS CALOUTTA
via NOINOW
RANGAL SWATOW BANGKOK via SWATOW MANILA
STRAITS & CALCUTTA HAIPHONG VÌ FOLLOW SANDAKAN
"FOOSHING" “TINGSEING "KUMBANG
"KWAISANG " "YUENSANG " "NAMBANG *MINGSANG” "MAUSANG"
*
Friday, Friday, Sunday,
„Sunday,
5th June, 10 m
Sth June, 3pm
7th June,
B
7th Jane, 10
Tuesday 9th June, Noom, Wednesday, 10th June, 13 p. ...Wednoday, 10th June, p
Bunday, ***Tuesday,
14th June, Baon,
·16th June,: Noon.
REGULAR SAILINGS ARE MAINTAINED AS FOLLOWS
EVERY THREE DAYS
...EVERY BATURDAY Faca Borx Per
EVERY SUNDAY Fox Borz Pozn EVERY FORTNIGHT
and I consider it superfluous to recall to CALCUTTA HONGKONG-JAPAN LINE-EVEBY TEN DATBI your Excellency all the motives which SHANGHAI HONGKONG LINE Combine to induce the United States to HONGKONG MANILA, LINE, full faithfully those which they have HONGKONG HAIPHONG LINE.. contracted with the King I conine HONGKONG-BORNEO LINE
HONGKONG TIENISIN LINE myself to desiring you to euable me to
HONGKONG-BANGKOK LANE dissipate the uneasiness which may have been excited at my Court by the delay in proceeding to raise funds to effect the payment of this debt.I am, with respect, air, de.'
"Luzeane,"
NO UFFENCE TAKEN HERE,
This letter may well be accepted na a precedent. No exceptions were taken to this letter by the Congress or by the people of this country." It was not apparently. regarded as harsh or rude. It was not deemed impolite or unfriendly in those days of simple and direct intercourse to say what was on your mind. No effort was made to aroid meeting the obligations" according to the terms of the contruct.
The fact is that promptly as the French Government asked for payment, promptly as was possible under the circumstances the colozies made settlement. And finally they paid every ilollar of the loan which had been made to them by the French Government. To contend that any part of this loan was left unsettled or unpaid is to contend against the plain, inlisputable facts of history.
We are
This matter of the loan was a plain, honourable engagement and that kind of an engagement is quite na sacred as the engagement of a formal treaty. justified in assuming that the obligation will be kept in accordance with ability to keep it. That question we shall discuss next week.
Dont worry For herei
MADE
household.
A Welcome Visitor
at any timic in every Every
Bug, Flea, Eeetle, Moth, Fly, etc., dies' once it has come into proper contact with
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[52
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