1933-04-28 — Page 9

HONG KONG DAILY PRESS, FRIDAY, APRIL 28, 1933,

WAR DEBT MORATORIUM TILL JUNE?

MAY

BE RESULT

OF MacDonald's views on the current

WASHINGTON CONFERENCE

The best public exposition of

emergency were given in a speech at the National Press Club.

The world's wealth and hap- piness, he declared, can be main- tained only by the free flow of international exchange, which

AMERICA'S POSITION OUTLINED would constitute the principal

ECONOMIC DISARMAMENT

NECESSARY

EUTER AND BRITISH WIRELESS }

WASHINGTON, April 96.

A

IT IS AUTHORITATÍVELY LEARNED THAT PRESIDENT ROOSEVELT IS PREPARING 'RESOLUTION FOR PRESENTATION TO CONGRESS AUTHORISING A NEW MORATORIUM ON WAR DEBTS UNTIL AFTER THE WORLD ECONOMIC CONFERENCE.

ONE DIFFICULTY REMAINS TO BE OVER- ONLY COME AS FAR AS THE PRESIDENT IS CONCERN. ED. THE POSTPONEMENT OF WAR DEBT PAYMENTS IS UNDERSTOOD TO BE CONDITIONAL UPON AN AGREEMENT WITH FRANCE WHEREBY THE FRENCH GOVERNMENT WOULD MEET THE PAYMENT OF

DECEMBER'S INSTALMENT,

LAST DEFAULTED).

PRESIDENT

WHICH

ROOSEVELT AND M.

NOW DISCUSSING THIS ISSUE.

FRANCE

HERRIOT ARE

ON THE EVE OF HIS DEPARTURE FOR ENG- LAND, MR. RAMSAY MACDONALD EXPRESSED HIM. SELF AS HIGHLY GRATIFIED WITH THE RESULTS.

OF HIS VISIT.

ACCOM-

THE CONVERSATIONS, HE SATU HAD PLISHED FAR MORE THAN HE THOUGHT. POSSIBLE WHEN HE ARRIVED IN AMERICA.

HIGHER LEVEL OF PRICES NECESSARY

TO PRESIDENT

A joint statement issued by Pre-, SENATE GIVES WIDE POWER sident Roosevelt and the British Prime Minister points out that both Governments are impressed by the vital necessity for inter- national agreements in the interests of all countries.

They are convinced of the nieces- sity for a higher level of commodity prices and the desirability of 'moderating exchange, customs and quota restrictions.

The statement urges concerted

[PEUTER'S AMERICAN SERVICE.]

WASHINGTON, April 26. THE Senate to-day passed at

Au.

amendment to the Administra- tion's inflation proposal to thorise the President, at his dis 'cretion, to remonetize silver at any ratio to gold which he deems to be action for the expansion of credit necessary and for the unlimited and the re-establishment of an inter-free coinage of both gold and silver. national monetary standard which will operate successfully without'

depressing prices or repeating past, DEBTS, CURRENCY, ARMS

inistakes.

The proposals will be discussed with the representatives of other nations who have been invited to Washington.

AND PEACE

problem of the world economie con- ference.

Explains Action.

He said it was a grave injustive to believe that Britain "abandoned the gold standard gayly, without being forced to do so."

"We borrowed, borrowed, borrow ed," he said. "The strain kept on and finally there was no alterna- tive. We went off... If you want economic security, come to ILB agreement with other nations. Get your conferences going. Sit at a round table unafraid. Pursue policies that will meet the require- ments and carry them out like hon ourable gentlemen."

Stay Briet.

MacDonald will remain in Wash- ington only briefly, as he plans to return to England on the Berenga. ria, on which he arrived yesterday in New York.

The British leader talked freely with the Press both there and on his arrival in Washington.

He said abandonment of the gold standard by the United States in no way lessened the importance of his mission, but instead, offered new complications." He indicated his chief objective would be to find means for the restoration of an in- ternational gold standard.

He described his efforts as "war- ring against pumerized poverty." War debts. the premier declared, constituted only part of the general ceonomic situation. He indicated he would not lay any Special em- phasis thereon. He appealed fer- vently for deep and cordial Anglo- American co-operation.

"ROAD TO RUIN."

The pending currency inflation measure is the road to ruin," a statement issued by the Republican minority declared. It was signed

Senators David A. Reed of Pennsylvania and Frederic C. Walcott of Connecticut, and Con- gressman Bertrand Snell of New York and Robert Luce of Massa- chusetts.

Despite the declaration, how ever, the Republicans admitted they were probably facing defeat, and ably be enacted by the middle of that the currency bill would prob

next week,

Silver Coinage, Meanwhile the silver bloc was preparing to amend the original draft of the administration mea- sure, which, it was understood, was acceptable to Roosevelt.

Senators Burton K. Wheeler and William King Friday introduced an amendment, empowering the President to reinonetize silver and fix the radio thereof. It would make the coinage of silver permis- sible but not mandatory.

WASHINGTON, Apr. 21. The American position on. the most outstanding subjects to be dis Improvement of Silver. cussed by President Roosevelt and

Prime Minister Ramsay MacDonald The United Press learned a com- The question of silver was dis in the first of the international promise would be reached, amend cussed in all its angles and pro trade revival and monetary con- ing the currency inflation bill to posals have been tentatively aug-versations with representatives of permit Roosevelt to order the fres gested for the improvement of its leading nations was outlined to-day eainage of silver at a ratio fixed status.

in well-informed circles as follows: by him... The necessity for an increase in War debts. The administration

No Fillbuster. the general level of commodity, is committed against cancellation prices was recognised as primary of these obligations totalling nearly and fundamental. To this end, 812,000,000,000 by the Democratic simultaneous action needs to be party platform, but is not this taken in both the economic and committed against postponement of monetary fields and commersial reduction, although such actic policies have to be set to a new would require congressional ap- crientation. There should be aproval.

The Republican bloc, while in- tending to wage a stiff campaign against currency inflation, will not attempt to stage 11 filibuster, spokesmen said.

It was indicated that opponents would air their objections and hope to win support, bnt, that failing,

attitude.

constructive effort to moderate the Economic Agenda to be Allocated would not adopt any obstructionist network of restrictions of all sorts

by which-commerce is at present being hampered-such as excrseive tariffs, quotas and exchange res- frictions.

Adequate Expansion,

Central banks should, by con- certed action, provide adequate ex- pansion of credit and every means should be used to get the credit thus created into circulation.

to Experts.

WASHINGTON, Apr. 22. President Franklin D. Roosevelt and Prime Minister J. Ramsay MacDonald of Britain to-day began laying plans for a world-wide at tack on the economic depression while on capitol hill congressional leaders were busy with the domestic programme, of currency inflation as a means of economic betterment. Enterprise must be stimulated by

The conversations between the creating conditions favourable to business recovery and the Govern- President and MacDonald did not ments can contribute by the de-progress beyond generalities on the velopment of appropriate pro- initial day, but MacDonald made grammes of capital expenditure. it clear that it will be Britain's The Prime Minister is due to first purpose to stabilize the menus leave New York by the Berengari of international exchange. nt midnight. He said before leav ing that the conversations took a wide range and were conducted in. a spirit of complete harmony: The basis for substantial achievement at the World Economic Conference

had been laid.

London Meeting.

Statement Givan,

PLEA FOR UNITY

SPLIT IN HITLER · CABINET

IMPORTANT CHANGES

IMMINENT

(TNROVÒH RSITAR'S AGENCY:)

BERLIN, April 28. CHANGES in the German Cabinet Are reported imminent political circles, and it is widely in believed that the German Nationala, Herr Hugenberg and Horr Von Neurath are likely to leave.

It is generally expected than Vice-Chancellor Von Papan will be the next Foreign Minister.

A threatened split in President Von Hindenburg'e "Steel Helmets has been averted by the resigna- tion of the Second-in-Command, Lieut.-Colonel Duesterberg, Na tional Party candidate for the Presidency, last year.

Lt. Col. Duesterberg, whose dis- missal was ordered by the Minis- ter of Labour, Herr Seldte, him- self Commandant of the Steel Helmets," says that he has taken this step for the saka of the fu ture of the "Steel Helmets," of which he has been a member since

1919.

1

follow his example, submitting un- He appeals to other members to reservedly to Chancellor Hitler's leadership.

Herr Seldte does not intend to appoint a successor, and many ob- servers believe that the separate existence of the "Steel Helmets" will soon terminate..

EXPORTS OF TIN

COMMITTEE DECIDES ON

QUOTAS

[BITION WIRELESS SERVICE.]

RUGBY, April 26. THE International Tin Commit tee met at the Hague yester- day and examined the monthly statistics as to exports.

The signatory Governments agre- ed to the following quotas for ex- port and production with effect. from July 1 next: Bolivia_1,224 long tons; Nederlands East, Indies 1,008; Nigeria 286; Malaya 1,027. The next meeting is being held in Paris on May 23.

- AMERICAN ADVISOR APPOINTED TO CHINESE MINT

THROUGH REDTEE'S AGENCY.]..

WASHINGTON, April 27. MR. R. J. GRANT, Director of

the United States Mint since 1923 has resigned, effectively imme diately, to become advisor to the. Chinese National Government Cen- tral Mint in Shanghai.,

Mr. Grant is expected to leave the United States for Shanghai, early in May.

SILVER MARKET

(From Our Own Correspondent.)

LONDON, Apr. 27. FOLLOWING ARE THE BILVER QUOTATIONE ON THE LONDON MARKET TO-DAY :

•

**SPOT

FORWARD...

Apr. 27 Apr, 28 20.3/16 184

201 18.0/10

WASHINGTON, Apr. 2. Proposals for international agree- ments to stabilize currencies on a lower gold President basis were discussed by BRITISH PLAN FOR Minister Ramsay MacDonald to day.

The British leader, first of the statesmen of eleven leading coun- tries invited, here to grapple with monetary and trade problems, con- ferred to-day and last night with the President at the White House.

Out of the conversations came in- formation that international mone- tary stabilization aimed to raise

DISARMAMENT

CHINA'S AMENDMENT TO PROPOSALS

THE NANTIENMEN JAPANESE VERSION OF

KUPEIKOW FIGHTING

FRONT

FIGHTING RAGES FOR FOUR DAYS

THROUGH REUTER'S AGENCY,]

TOKYO, April 97. ACCORDING to reports from

Shanhaikwan the Chinese for- West of Luanho, began advancing cas, which have been pressed to the across the River, as soon a Japanese withdrew their forces; from that areau

the

that one of the longest and mont Despatches from. Kupeikow state

terrific battles of the Jehol Cam- paign has been fought. For four days and nights since April 21 fighting has been in progress on the Nantienmen front. The right and left wings of the Chinese for ces have been shattered, but the contro is holding out strongly, while reinforcements are fast ar riving from Shihsiachen. A' de- cisive and sanguinary battle is im- minant along this sector.

Chinese Success Confirmed, (THROUGH REUTER'S AGENCY!

PEIPING, April 26.

A RESUME of the military situa this evening confirms that the tion issued by the Military Council

have been withdrawing to the passes Japanese forces East of Lulanho along the Great Wall since April 22 and says that in order to main- tain peace and order Chinese de tachmente have been sent to Chang: li, Lulung, which detachments have been in contseb with the retreating Japanese forces and Manchukuo troops. The resume says that fighting at Kupeikow has been going on for four days, but the Japanese failed to occupy the Chinese positions. Indeed, yester day Pataloutee in front of Nan- tienmen WES re-taken from the Japanese who to-day renewed their attacks in that area, but met with to success.

`CHINESE ADVANCE

CONTINUES.

{THROUGH RECTER'S AGENCY.]

PEPINO, April 27. THE Chinese continue their ad- vance in the Luan Ho region, entering Changli "at noon. yester 'day.

The railway service from Peiping to Changli is expected to be re- sumed shortly.

AMBASSADOR SILENT

REGARDING POLITICAL

MATTERS

(THROUGH REUTER'S AGENCY]

NANKING, April 26. WHILE resolutely refusing to ex- press his views on political matters, at least not before he pro sents his Credentials, M. Bogomo loff, the newly appointed, Soviet Ambassador to China who arrived hero to day told newspapermen that a Soviet Embassy will be estab. lished in Nanking where he had to take up residence. M. Bogomo- loff maid that the main object of his present visit to the Capital was to arrange a date for presenta tion of his Credentials tỏ Mr. Li Sen, Chairman of the National Government.

The Soviet Ambassador will call on Mr. Lo Wen Kan, Foreign Minister, to-morrow morning (Thursday), who will then enter.

tain him to dinner in the

THE SINKLANG REVOLT

THROUGH BETTER'S AGENCY]

[THROUGH REUTER'S AGENgp.]"

NANKING, April 26 THE Government Bending GENEVA, April 28.

General Ho Yeo Chu, Amit commodity prizes hy reduction in AT THE meeting of the Generac ant Chief-of-Staff and Mr. Chang Disarmament Commission to Feng Chu, the local pzorosentative Delegate said that he would pro-ed Governor of Binkiang, to that the Chiness andendment to Britain' tion there. pose that the Commission accept Province to investigate the situa Disarmament Plan to be embodied

FIERCE CHINESE ATTACK

BROKEN"

GUARDED REFERENCE TO PLANS SOUTH OF THE WALL

The following is the report,- from Japanese sources of the recont fighting in the North. Ita seriousness, and the determina- tion of the Chinese troops is tacitly admitted. The political news is guarded in relation to the alloged attempts of the Japanese to form another puppet state to the South of the Great Wall.

Many allegations of Chiness disunion are made, and, also, that large numbers of Cuinese, troops are joining the Manchukuo forces.

STORIES OF POLITICAL INTRIGUE

of the

Tokyo, April 9-News of a tung area were branded to-day in sanguinary three-day battle at Ku- Chinese journals as "traitors whom peikow pass in the Great Wall no red-blooded Chinese would. fol- north of Peiping to-day belied the low,"

Many Doserters, abandoned attempts to regain pos- that North China does not want expressed hopes of the Japanese command that the Chinese had The papers in editorials asserted

session of the Jehol barrier.

a breach with. Nanking but de- from Kupeikow, heavy Chinese for- central government in order to allay

According to Rengo dispatches i manded recorganization

ces launched a determined attack ¦ discontent in the north. on Maj. General Kawahara's lines Chinese military officials claimed southwest of Kupeikow Friday to-day that the Chinese irregulars. morning, at least five divisions be east of the Lwan river who have ing represented, including some of joined the Munchukuo forces are Chiang Kai Shek's regulars. rapidly increasing in numbers and.. Friday morning the Japanese had are being officered by Japanese. their hands full repolling the on This group, torming itself the Na coming, waves of the Chinese at tional Salvation Army, is Bying tackers, which were reported hurled the Chinese five-barred republican back by deadly machinegun fire dag, it was said. from watch towers on the Great Wall.

Despite the Tokyo war office statement of yesterday, foreign ob- servers here expressed the opinion. that signs are incrcásitigly-vidunt that the invaders are prepared to extend operations farther into Hopei province.

Counter Attack. Kawahara's forces launched counter-attack yesterday, it was stated, and forced the Chiness back from the wall despite the arrival of reinforcements from A widespread opinion is that the Miyun, Chinese base on the road Japanese and Manchukuo- forces, of Peiping.

with the newly-allied Chinese irre To-day at dawn Kawahara's gulars participating in the Lwan troopa after four hours of bitter tung buffer aren, will not hesitate fighting pushed their lines beyond to enter Peiping and Tientsin arcas Shanganntze, nine miles southwest if Chinese resistance continues. In of Kupeikow, and it was claimed that event foreign officials believe both Chinese flanks were turnea, marked changes in this area may with the result that a retreat be expected. started.

The war office announced yester day that the Japanese contemplat ed no further advance in North China unless the Chinese renewed attacks on Japanese positions. At the same time it was said the oc

The Lyan- riverfront north of here was comparatively quiet to- day and yesterday, the river con- tinuing to divide the opposing for- ces and isolated skirmishes occurs ring spasmodically,

Strong Forca, 2

cupied area east of the Lwan river The Japanese and Manchukuams sarpappear to have massed a strong

趨

about Chinwangtao and ten miles wide extending west to force a few miles east of the Lwan

Kupeikow would be neutralizód.-

Tientsin Fears Not Allayed. Tientsin, April 23-A reassuring statement from the war office at Tokyo that the Japanese plan no further advances in North China unless attacked failed to-day to de- crease Chinese tension and separ atist intrigues added to the fesling foreigners have that far-reaching developments are pear.

river, awaiting developments. Japanese fliere continue active over the entire area, intermittently drop- ping, bombs behind the Chinese lineg and scattering handbills urging the Chinese to support Manchukuo.

Military officials here claimed the Japanese attacked south of Kupei kow pass, which is to the north of Peiping, early Saturday morning, using fifty field guns but failing to crack the Chinese defenser, and it was asserted there were many Japanese casualties.

A strong cry has arisen here and at Peiping for Chiang Kai Shek, the National government generalis simo, to come north to rally the Peiping advice indicated that various Chinese elements, failing apprehension over possible Sino- Japanese hostilities there continues. which "he should be ousted."

Ramon that a group of North The Chinese military were reported China generals, among whom Feng to have concealed twenty anti-air- Yu Hsiang, still hibernating at craft guns about the city in anti- Kalgan, is an outstanding figure, sipation of Japanese raids.

More Territory Conquered. are planning an attempt to estab

Mukden, April,23. The Japanese lish an independent northern re- gime. have been widely circulating, continued their drive against the Such a development is generally Chinese, along the Great Wall dur- considered to increase the likehood ing the past 48 hours, gaining ad of a Japanese-Manchukuo advance ditions) territory in the vicinity westward from the Lwan river of Kupeikow territory around Chinwangtao pc. cupied in the last two weeks.

General Tanaka's corps sufforum 12 killed and scores injured Fra in heavy fighting,

- Political Intrigue. Feng, the Christian general, wAJ a lender in the internecine warfare of four years ago and the present situation recalls that chaotic period. With the political intrigues on tinuing rampant, leading, Chinese It was understood that General generals and officials have been Kawahara's corps captured". Nan- made the objects of vicious and tintmen this morning. conflicting attacks charging plots

Relations With Busla: to overthrow the National govern Tokyo, April 3-Mgachukua ment and co-operating with the authorities will not reopen the bor

order junctions of the Chinese Eastern Japanese, data plan

Most of the local Chinese public Railway with the Trans Siberian. appears to be opposed at present railway or undertake to restore con Ang being that salvation lies in til Russia returns C.E.R. rolling continued loyalty to the central stock which was allegedly taken government since North China can neros the borders into Siberia, Li not wrist alone.?.

Chao Keng, representative of the Chinese, participating in the Manchukuo government, declared

pent of the last few days, to day.

General Kawahara's corps occu=" pied three important Chinese watch...... towers at Kupeikow Friday noon Major Kids. was wounded in the fighting.

The White House issued a brie currency units were taking a fore- day Captain Eden, the British of Mr. King Shu Chen, the deposto a breach with Nanking the feel nections between the two lines un-

statement, saying:-

the amount of gold behind national

most place.

as a new Article following imme diately after the present Article V

A preliminary conférence was held between the President and the in an address to-day at the Nation- MacDonald presented his views Prime Minister. The main prob... lems of the world economic confer-al.club, saving economic disarma- ence were reviewed. The decisionment and agreements among "na- was reached that this should be al-tions to solve monetary problems located in the first instance to ex- were the first step needed to start ports who would commence their the world toward better days. The new Article stipulates that discussion this afternoon and con- tinue to-morrow."-

"No Time Wastēd.

LONDON, Apr. 26. The Organising Committee of the World Economic Conference will

French Resentful. meet at the Foreign Office 90] Saturday under the Chairmanship

Contrasting with MacDonald's placatory attitude, dispatches told of Sir John Simon, representatives. of France, Germany, Italy, the It was learned authoritatively of resentment among members of United States, Belgium, Japan and that Roosevelt outlined to Mac the French delegation, beaded by Norway attending

Donald what he considered to be former Premier Edouard Herriot, Arrangementa for the Conference, the problem which Britain and at flooserelt's gold embargo an

nouncement of Wednesdays which will be held in London, will crich aur face together, he considered and invitations sent MacDonald, who arrived in to the sixty Powers which are Washington yesterday at 6.29 p.m., participating Messrs. MacDonald, wasted little time id preliminary Loosevelt and Herriot have agreed formalities before commencing his that the conference shall open on talks with the President. June 12 and the organising com- mittee are expected to accept that date

They expected to spend the whole day to-morrow together on the yacht Sequoit down the. Patomie river:

From Paris came word that the French cabinet, unalarmed, an nounced after a meeting that it will maintain the gold standard, and Finance Minister Bonnet ex- pressed the hope that all countries will return to gold at the earliest moment,

of the British Disarmament Plan NO HOPE OF DIRECT

this part of the Convention will pot prejudice the rights and obligations of members of the League nor conflict with the powers of the Assembly under the League Covenant Captain Eder also proposed the acceptance of the Chinese amendment of Article

water sitpitty utters the words ing of that Article. Ken Maga

At this stage the Commission adjourned till April 28.

NEGOTIATIONS

EX-FOREIGN MINISTE

YOSHIZAWA'S VIEW

THROUGH EKUTER'S AGENCY)])

TOKYO April 27. EX-FOREIGN Minister Yoshizawa,

who

returned to-days from a Dr. Wellington Koo is leaving this evening for Paris, enroute to tour of China and Manchuria said Washington where he will meet that he had obtained the impres Mr. T. V. 8oong and also Mr. Qudsion there is no possibility of direct Tai Chi from London.

Bino Japanese Negotiations.

buller stata in the Lwán (Continued on Page 12.)

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