1932-12-03 — Page 9

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ཎྞ –

BRITISH REPLY TO

U. S. NOTE

HAS LITTLE IMPRESSION ON

CONGRESS

FURTHER PROTECTION MEASURES

LIKELY

[TVO REUTER'S AGENCY.}

LONDON, Dec. 2.

Seldont has there been such ananimity of London Press opinion on a major issue as is revealed in this morning's com. ments upon Britain's Debt Note to the United States, which clear. ty shows that the British taxpayer is already bearing a burden of internal debt en account of her allies comparable to that which would fall upon the American taxpayer If the whole of the debt due to America was remitted

BRITISH PRESS COMMENT

'

Typical cominents a101 Morning Pact. The Note is masterpiece of clarity, concisenes, and compelling logic.

11

Daily Mail The United States must decide whether the world wil be thrust back into chaos.

Daily Herald-This is not tle special pleading of a debtor anxi otts to avoid a legal obligation,

merely cold stern fact.

."

trade, and war debts and repara tians must be held, chiefly aible for the present crisis,

HONG KONG DAILY PRESS, SATURDAY, DECEMBER 3, 1932.

BONUS ARMY ON

THE MARCH

HUNGER STRIKERS CON- VERGE ON WASHINGTON

(THROUGH REUTER'S AGENCY.]

WASHINGTON, Dec 1. WASHINGTON is again threat encil with a repetition of the ugly scenes which accompanied the siege of Congress by War Bonus Veterans a few months ago

The Bonus Army is again on the march, and a threat by their leaders to force their way into the grounds of the Capitol was announced by a delegation which was received to day by Mr. Garner, the Speaker of the House of Representatives and the Vice-President-Elect.

Hunger marchers" are now enn- verging on Washington from dif ferent parts of the country to the wumber of one thousands of men, who are demanding the immediate payment of the bonus to veterans

wor

Mr. Garner informed the advan respo-party, which sent the delegation to him, that the marchers, would not be permitted to parade in the grounds of the Capitol.

Suspension of Payment Essential.

The suspension of the December payment is essential to enable re- consideration of the whole question in a proper atmosphere of caln and concentration. Pointing out the distracting effect of the trans- fer of such a large sum at present the Note shows that the only prac- ticable method of payment would be gold from the reserves of the Bank of England which are none too large already.

The Vice-President, Mr. Charles Curtis, refused to receive the dele- gation.

BRITISH COTTON

TRADE

LITTLE PROGRESS TOWARDS RECOVERY

THROUGH REUTER'S AGENCY.]

Daily Telegraph.-The Note is a careful unimpassioned statement of the realities of the tragic book keeping of the war. It is no collu, Hive effort of America's debtors.

News-Chronicle,It is difficult to believe that this devastating The request for postponement is Noto will not considerably affect based on the profound conviction American spinion.

that the resumption of the old war

LONDON, Dec. 1. Financial Time.-The Note debt payments would have disse. courteously offers a choice between trous consequences upon every na- INDICATIONS that little if any progress towards recoverey has tion, chaos and commonsens.

not excluding the United

been made in the past 12 miniha by Times-It is aplain tale in Statos.

Anglo-American discussion would the cotton industry are contained plain language. An unanswerable)

the Cotton Trade Statisticni case is set out with great skill and, be fruitful for the revival of in

world prosperity, and the Note Bulletin issued to-day.

Reviewing the world position of offers to consider, in conjunction the cotton industry, the Bulletin with the United States, any con venient method of arranging for states that employment in the the postponement of the debt pay.spinning section of the Lancashire industry remains at about the ment, which would materially im level of a year ago, while there has prove the prospects of muccess.

been a considerable drop in the number of weavers employed,

restraint,

Daily Express.--(Bounding the only note of dissent): A Note re

and markable for its clarity cogeney. The one regret is that it does not my we cannot pay. The Government means to turn its back on its own case and rape up the - funds to meet the ruinous demand.

CONGRESS NOT IMPRESSED

WASHINGTON, Dec, 1. The renewed British request for postponement of the December in

An Alternative,

The alternative would appear t be a restriction of imports from America and the reopening of the Lausanne Agreement, so that the whole system of European confid euce, now precariously balanced, would fall to the ground.

TEXT OF NOTE

The Note says, that the cause of the present world depression may be manifold, but war debts and reparations have been one of the major causes.

The drop continues although activity in the spinning section has recovered since the November stoppage... di

The usual seasonal increase is still wanting.

Italy is the only country which has failed to show recent increase in cotton activity. The Indian in- dustry is working at a much higher level than it was a year ago.

The French industry has showed the biggest improvement in Euro- pean weaving activity.

FRANCE WAITS WITH CONFIDENCE

THROUGH REUTER'S AGENCY.ī

While in some respects it may The export of yarn and piece. PARTH, Dec. 2.

be difficult for Governments to goods in most countries have show THE French Government renews remedy the world's troubles, cered the seasonal incrense, but to a its "instant and naturely retain steps aro clearly within their much lesser degree than in 1931. Dested request," for the suspension of the December 1 payment, and awaits President Houver's decision with confidence," in a debts Note to the United States now published.ment, and could only be financed The Note does not say what France by loans. from producing countries. will do if her request is rejected, Those were taken not in money but but holds out a threat of a clin goods. lapse of the Lausanne Agreement.

оп

and

stalment of the war debt apparent ly made little impresion to-night

Republican Congress. Democratis lenders clung to their previous positions and also pre dicted the defeat of any proposal! to create a Debt Commission.

Senator Watson, the Republican leader, mid to-day that he dos not think there is any chance of postponement, cancellation, reduc- tion. revision, evasion of the December payment, or revival of the Debt Funding Commission.

Democrats Opposed to Post ponement,

Senator Robinoon, the Demoera tic leader, who is just back in Washington from a conference with Mr. Franklin Roosvelt, said that the Democrats generally тего

A' de opposed to postponement. finite policy would be formulated when President Hoover's recom- mendations are received.

Senator Byrne, another pro- minent leader in Congress circles, who may be taken as reflecting a strong body of opinion, said he did not believe that any statement of financial difficulties from abroad would alter in the dightest degree, the fixed opinion of the House and, Senato.

powers and their responsibility,

The vast requirements for the RAILWAY CRISIS IN purposes of the Great War far ex coded and normal means of pay.

Loans made to the Allies by h United States, Britain and France together reached the colossal total of over £4,000,000,000,

IRELAND

THE GOVERNMENT INTERVENDS

[THOUGH KEUTER'S AGENCY)

DUBLIN, Dec. 1. For a time, payment of 'repara-İ (OVERNMENT intervention in tions and war debts was rendered the milway crisis, at the re possible by the flow of investment quest of the Labour Party, has con- capital from the United States to siderably improved the prospects of Continental Europe.

False Prosperity.

But the prosperity of the years 1923 to 1029 was largely illusory Towards the middle of 1931 some- thing like panic prevailed.

Since then, the world has been living under repeated shocks which have completely undermined the confidence on which the system of private investment depended.

Currencies are threatened with instability, if not with collapse, and the controls and restrictions intended to remedy the trouble have merely aggravated-it.

Unbalanced Budgets, Everywhere taxation has been ruthlessly increased and budgeta are in deficit er are balanced with evor-increasing difficulty. The world cannot even begin to con- wider how to restore the monetary mechanism without which the mo- dern world cannot effectively con- duct its daily life, until the causes undermining confidence, have been removed.

a settlement.

The railwayinen a few days ago decided to strike on Monday next ten per cent. wage cut. La protest against the proposed

Mr. Sean Lemasa, Minister of Industry and Commerce, has al- ready interviewed both sides, and it is likely that the Government will temporarily assist the rail- ways, as it has subsidised ether sufferers from its immediate econ- omic policy,

HERRIOT SECURES A VICTORY

ON RECENT CONVERSION

SCHEME

[Tanooɑu BLUME"S" AGENCY,]

Panin, Dec. 1. THE Herriot Government recured

a resounding victory in the Chamber of Deputies to-day when an opposition motion criticising the handling of the recent conver sion scheme was rejected by 377 vutes to 108:

M. Herriot maintained that the scheme was centrageously and sne- consfully carried out.

SURPLUS SUGAR STOCKS

"CHADBOURNE PLAN APPROVED

(THROUGH · REVYER'S AGENCY.1

Tu Hague, Dee, L.

THE International Council have decided to liquidate the aur plus slocks of sugar in accordance with the Chadbourne Scheme. The specific methods to be adopted have not yet been formulated."

FURTHER FIGHTING IN MANCHURIA

JAPANĖSE ADVANCE CONFIRMED

[THROUGH REUTen's agency.]

BANDITS BUSY

ON YANGTSZE

S.S. IPING FIRED

ON

[TRAOUGH REUTER'S ACENCY.]

HANKOW, Dec. 2.

INSURANCE COYS. THREATENED

DARE-TO-DIE-CORPS SEND THREATS

(THROUGH AKUTER'S AQUNUT.]

SHANGHAI, Dec. 2.. THE violent agitation arising from the attitude of insuranca companies towards Chapei claim-

TRIBIKAR, Dec. 2.

of the THE rapid advance

WHILE passing through the Japanese forces in the cam-

Yangtaze Rapida the .. Iping, paign against General Su Ping Wen is confirmed. The main body which arrived at Hankow yeater of the Japanese Army has now ovday, reports that she was heavilyante has taken a very serious form, cupied Chalantun.

The Japanese are now continu- ing their drive with the next ob jective set as Haingan. A. column of infantry and cavarly left Cha lantan yesterday.

sharp Encounters.

thirty-ve. miles Lelow which is viewed by the police with fired on Ichang. Several of the crow are the utmost gravity,, reported to have been killed or wounded,

KONG

Brief communiques report street MR. PEPYS IN HONG fighting in Chalantun prior to the occupation of the city by the Japanese advance guards, while two sharp. encounters occurred nearby.

Boviet Mediation,

Threatening letters have been ent to the three leading British insurance companies in Shanghai, demanding the immediate settle- ment of all claims in conucction with the war devastated property in Chapel.

The letters were accompanied by live rounds of rifle ammuaition,

The senders, in making the de- mand, threaten to bomb tho offres of the companies conceal if their demand is nos met,

Not Covered.

26th.-Up betimes and trimmed The Japanese claim that the Chinese left two hundred dead in thyself. This day I do notier parti- the various fields of encounter, but cularly how increased is one's morn do not make mention of the losses ing energy after going early to bed. suffered by the attackers.

1 having last night dined with Mr.

Writter in Chinese, the lettera According to unofficial reports, Ken and his pretty lady and back Japanese aircraft co-operating very early to the Clubbe. To the emanate from the so-called "Pre- with the land forces, ara partici. Office where all is soon ordered nad pared-to-Die Group of Calamity pating in the pursuit and have after my nutcheon where we do Sufferers of Shanghai." hurried the flight of the "insuplay at Krickett with the Kowloon Cluble. But there our strikers be gonte" into the mountains.

sadly at a stonde to play the bowl. ing and I am mighty pleased to find

It may be recalled that the dam-. that I do get the most notches TOKYO, Dec. 2.

though in truth it is a shame to age claims have, not beca-paid ne

a cover for war risks. According to an official despaten be pleased over so small a thing the policies issueil did not include from Moscow, received by the and I doubt I may be hearing my Forviga Office, the Soviet has agre second childhood. Yet I had sup This is the first time in local his. ed to comply partly with the posed that childhood was free from tory that this; form of organised suade General Su Ping Wen to drink a fiaggon of ale with Mr. foreign firms.

Lyal and Mr. Goodwin in their fine new Pavilion, and indeed it was most hard to tear myself away betimes, yet I had need as I was to dine, upon the Peake with a friend. Played bridge after a plea sant dinner and won a few foring nt Auction for I do find that Con- trackt do make but slow head here, save among the Ladies who are ever amorous of some new thing, and to find it to be a bigger gamble, and so more acceptable. Home and sa to bed.

In Hong Kong Japanese request to try and per- Phramatism. After the match, did terrorism has been directed against

To-Day

SOME DRIZZLE

YESTERDAY'S WEATHER REPORT, FORECAST AND NIMARKS, ISSUED BY THE ROYAL OBERVATORY AT 6.12 P.M., STATED :----

THE ANTI-CYCLONE HAS EXTEND-, ED SOUTHWARD TO NORTH CHINA AND KOREA. MODERATE TO FRESH HONSOON WILL CONTINUE ALONG THE CHINA COST AND OYKY THE NORTHERN CHIN, SEA,

LOCAL PORECAST:-N.E. WINDS, MODERATE CLOUDY, PROIABLY SOME BAIN,

GERMANY'S FOREIGN

POLICY

VON NEURATH NOT YET

GOING TO GENEVA

(THROUGH MUTER'S AGENCY]

negotiate.

INDIAN COTTON

SCHEME

GREATER USE IN BRITAIN

(THROUGH REUTER'S AGENCY.]

LONDON, Dec. 2. IN concert with trade organisa

Lions in Lancashire, the Gov. ernment has appointed a commit tes under Sir Richard H. Jackson to promote the greater use of Indian cotton in Britain.-

The appointment of the Commit ice arises out of the Ottawa agree-

ment.

+

THOUSANDS ARE BUYING HOUSES

SIX-FOLD INCREASE IN BRITISH BUILDING FUNDS

NO DIRECT NEGOTIATIONS

DENIAL OF JAPANESE RUMOURS

NANKING, NOV, 27. Mr. T. V. Soong, Acting Preai- 27th, Lord's Day. This day lay dent of the Executive Yuan, and late and after I had broken my fast Mr. Lo Wen Kan, Minister for I fell to washing of a silk pull-over. Foreign Affairs, received the dipin But Lord to see how much ends do matic representatives of America, come from, a handful of Lux, so Great Britain, Franco, Germany that I was nearly pushed out from and Italy at Mr. Soong's residence my ronia by theem. Made a pretty this morning. It is learned that good matter of it, but am at a in the course of the conversation, stonde to know how to cope will Mr. Soong discredited the rumo the laddoring Later to Kwantei assiduously circulated by Japanese where I find everything in the best agents that there is a growing ten- possible order, and I doubt not dency for the Chinese Government that the flowers there will be eren to favour direct negotiations with beyond those last season, I do little Japan. wagering but win a little when

Mr. Soong drily remarked that Mrs. Fearon wins the Ladies' race, the same rumour is usually repeated and indeed I much marvel at the whenever the Manchuring issue re- skill of all these pretty Ladies in coives serious attention at Genova. riding. Homo, and sit late after

He added that the issue is now dining with Creed talking of the squarely up to the Longue, which Lytton report. Anon comes Colonel has to decide not only the future. George who tells us that the Array of the Three Eastern Provinces, but do beat the Navy at Krickett, where also the principle of the sanctity at we do reprove him for playing of trenies and the very existence of upon a Sunday. Yet, as Mr. Pavy the League itself. Kuo Min. says, who joins us, after all thero be little difference between horse racing and playing at Krickett

London. Eight hundred thou sand persons are at the present time acquiring their homes with BERLIN, Pec. 1,

building society assistance or are BARON von Neurath, Foreign being assisted to purchase proper

Minister in the von Papenty as an investment. Government, is likely to retain

Sir Harold Bellman used those

Clubbe. I do understand. But therò that office in any new Cabinet figures to illustrate the remarkable

28th-Up betimes and to my it should end. Creed tell me the formed.

rrogress of home-ownership in re cont years when he lectured to office, where I am mighty busy or game is now permitted in our Pab the Incorporated, Secretaries' Ansolering any papers, and I sharply lick Schools instead of Krickett and ciation on the practice and prop rebuke ray typist for that I find I am sorry for it. For it incul- dure of building societies,

traces of lipstick upon the letters.entes selfshness, rather than team Building societies, he said, had So the silly wench bursts into tears work, as in Krickett and Football. their roots deep in history, so much and I at much pains to consolo her.This night turns somewhat cold. so that ingenious historiaus boast Birt upon reflectioun, I am not

He is not, however, going to Geneva to participate in the fan- churinn debate or the disarmament talks until the new German Cabinet has been formed, which may not be until next week.

RAMON NOVARRO'S NEW SONG.

FEATURE OF "HUDDLE"

AT QUEEN'S

BU

ed of fruitful researches in the re-assured it was not done of set pur- 80th.-This day much colder and cords of ancient China. The first pose. Later upon the Clabbe Veran I do on my thicker cost, and to authenticate record of a building dah I fall into talk with My Lord my office where I find the risen ox society, in the modern sense, went of Sandwich, Mr. Ashby and some change do sadly deplete the number back to 1781, and the place of others, and I did express my won of florins I do draw. Reading in der that certain Oxford under the newes shoetes, I find some con- origin was Birmingham.

There were now 1,013 societies in graduates did welcome and assist troversy as to the playing of the this country, and at the end of the hunger marchers, and did carry National Anthem at the end of all 1931 their total assets amounted to a red flag before their procession.picture shows and plays. And to To which Mr. Ashby replies that he my mind it were indeed well to £410,000,000.

now for the first time understands omit it for I am assured that all Cambridge's sequence of victories the Proprietors do play it partly in so many branches of the more because they fear to be thought manly sports, for the pursuit of nopatriotique but more to signal to Communiam doth so often indicate the audience that the time has come an unhealthy mind in an unhealthy when they must leave the house. Saving Margin Increased,

body. Yet upon the whole I do feel But if it is played, then should all Firat, our, working population much doubt that these young men respect be shown by those who are has, on the whole, experienced an be other than the dregs of the not so ignorant as to know no. increase in economic well-being as University, which all great founda- better. In France there seeron some compared

scandal of an Aviatique Company, Secondly, the appreciable decline

and in eight years I learn that they

Since 1016 building society share capital and deposits have experienced a six-fold increase," Bir Harsid satd.

with

pro-war day. | tions have.

TEA RESTRICTION

A picture in which Ramon SCHEME

Novarro appears would not oc complete without a song. For his Huddle" new starring featare, ACCEPTED BY DUTCH

which will be shown at the Queen s Theatre to-morrow he sings a bal EAST INDIA.

lad titled "A Vue Chella" Italian composition by Tosti. (THROUGH REUTER'A AGENCY.)

The melody was chosen as one of BATAVIA, Dee, k

the most tunelul of love songs for in the price level has provide.j 29th-This day with two pretty do lose one hundred and seventy- THE Union of Dutch East India romantic scenes between the Latin many with an uncovenanted behe ladies to a preview of a picture eight planes ninety-seven pilots Tea Producers has decided to star and Madge Evans, leading fit, and thus increased the soargin called Letty Linton wherein Mrs and one hundred-and three passen- accept the proposed ten restriction lady in the production. The words for saving. Thirdly, the sonieties John Crawford acts to my greatest gers, and I am strengthened in my scheine, under which Ceylon, are quite intimate, and when trans- have tended to attract the norepleasure and a very fine story it is belief that this commercial flying is One of the most important of

were substantia! investor, especially obert Montgomery plays too, and not so safe to some would have va these is the system of inter-Govern British India and Dutch Eastlated as part of the scene

India keep their production within discovered to be better than any during the periods of cheap money whenever he did appear the twe believe, Mr. Collier, the shairman of the mental debts. These debts differ one halfer cent, abore the pre-dialogue that could be written into which have ruled in the past your woucher did forbear to eat their

commercial loans House of Representatives Ways and radically from

the script. Novarro accompanies or two.

sandwicher the better to enjoy him, 1st December. A fine day but 1 Means Committe, said he did not raised by foreign Governments for seat production.

bimself on the guitar during the At the end of 1031 the 10 and I do believe that as the present, am at a stondo to find I have taken. cielies mortgage asset was be is the most popular of-all-filmatheum in my head, though..how.. Rong.

£360,000,000, equivalent of 85.8 per actors with women Yet so good I come thereby lenow not. I see Gay Student Life,

cent of their total assets. During was the saw that. I do make up my to the newer sheete that from the "Huddle" is a story of modern the past, three youre the societies mind to see it later at the Queen's library of Columbia University a Like the shells on which they were INTERPORT TEAM AS GUESTS largely spent, these war loans wore

university life in one of the lend have advanced an average of Picture House Reading this day valuable manuscript of Gay Man blown to pieces and have producett

At a farewell dinner last night ing educational centres of, America, £88,000,000, the total amount ad in the newes alectes I do find still nering has vanished, but I doubt nothing to repay them.

given in honour of Mr. HM. Me and contains many scenes of stud-vanced during the post-war period more letters upon a quarrel that mot it has not been stolen but mene Tavish, who is sailing for the home ent life reminiscent of Novarro's boing: no less than 2035,000,000 did take place some time ago over ty taken by someone as B. Scuvenir Only For of Payment.

The size of the 1013 societies the matter of a handicap at a of his old College friend Sir Walter, country to-day, after a splendid re-famous The Student. Prince."

The supporting cast includes varied widely. Only fifty-two had Tennis Toumament. As to who I Dined out but my rheum Jay beavy In-the-long-run, international cord of service with the Hong-Kong debts can only be paid in the form Football Association, the principal Madge Evans, Una Merkel, Ralph Lotal assets exceeding £1,000,000, was or where it took place I know upon me and a pretty early to bed of goods or services.

guests, in addition to the guest of Graves, John Arledge and Frank while the number with acts ex not, frut, as I tell Creed later it a hot-glass of strong waters

ceeding £10,000,000 was only nine. must be a pretty poor sport where ad December. To the office bo Creditors, insofar as they have honour, wens the members of the Albertson. adopted a commercial policy pre victorious Interport team.

Sam Wood supplied his experi "There is a notable tendency for in its devotees cannot take n beat times but my rheum ingregses and venting payment in goods, havo Toasts were proposed and honour ance with such college pictures as now business to gravitate to the Ing without ruhig bato print capither ste speak nor be

and Bo larger societies," said Sir Harold. That one should express his view clearly and am become a misery-to- compelled their debtors to pay ined with much enthusing, and glow. One. Minute to Play gold.

ing tribute was paid to the sorrices This is College to directing the and this tendency will probably pretty opinionastre within hit myself and a curse to those who

production. (Continued on Page 6).

be also evident in the future.free (Continued on next Column;} - meet me and so to bed. of the departing member. ̈

favour any extension of the morn torium, adding that any suspen- sion of payments would only make it more difficult to collect 'subse quently.

[ONITISH WIENIIS" SERVICE"}

Net Anking too Much, That Britain is not asking the United States to make. a greater sacrifice than Britain has already made is one of the points stressed in the second war debts Note hand ed to Mr. H. L. Stimson to-day

The true interests of both coun- tries, the Note declares, lie in ro- operation for the revival of world.

productive purposen. Such produ

tive loans are self-liquidating, but FAREWELL DINNER TO MR. reparations and war debis repre- sont expenditure on destruction

H. M. MOTAVISH