1933-11-23 — Page 10

CHIANG

OF

TAKES

VIEW

SECESSION OF

FUKIEN

WANG CHING WEI CONTEMPLATES

DRASTIC MEASURES

(From Our Special Correspondent)

Cinton, November 22.

According to a telegraphic report from Swatów, Mr. Tseng Chung Ming, Vice-Minister of Railways and con- fidential secretary of Mr. Wang Ching Wei, arrived at that port this morning aboard the Douglas steamer Hai Ching en route to Foochow.

It is considered strange here that Vice-Minister Tseng is going to Foochow, when the Nanking Govern- ment of which Mr. Wang Ching Wei is President of the Executive Yuan is contemplating to take drastic measures vis-a-vis Fukien. By sending his confidential secretary to Foochów, Mr. Wang is exchanging views a with the leaders there.

Press reports from Nauking state that General Chiang Kai Shek. Chairman of the Military Affairs Com- mission, takes a serious view of the secession of Fukien and will shortly return to the capital to discuss with other leaders on ways and means to suppress the movement. However, it is stated that old Kuomintang leaders such as

Tsai Yuan Pei, Lin Sen and Chu Cheng are opposed to the use of force to settle the matter.

The same report added that General Chiang Kai Shek has ordered General Lu Ti Ping, Chairman of the Chekiang Provincial Government, to strengthen the provincial borders close to Fukien, because an invasion of Chekiang by the 19th Route Army is anticipated." It is said that General Chiang may even take the offensive first and will mobilize land, sea and air forces against Fukien before the 19th Ron Army gets under way.

።

HONG KONG

SERIOUS

DAILY PRESS, THURSDAY, NOVEMBER 23, 1933.

The journal attributes its infor- mation to military sources and that the Fukien regime through the efforts of Wang Chin Halang and Pan Tseh Hsiang, the lenders of the Left Wing Radicals, has concluded an armistice with the Communists,

Under the agreement, the Fu- klen Government will supply the Reds with 8300.000 worth of salt, $300,000 of medical supplies and -8100,000 worth of ammunition.

It is further alleged that in order to stave off Japanese intervention, the Fukten regime has authorised Mr. Eugene Chen and Han Pin Li to approach the Governor-General of Formost for an understanding. Reuter.

DENIAL BY MADAME SUN,

Shanghal, November 22. "All reports linking my name in any way with the recent develop- ments in Fukien, or, even more, preposterously announcing my de- parture for Foochow, are stupid and malicious falsehoods," nounced Madame Sun Yat Sen to- day: Reuter. "

C.P.C. MEETING.

U.S. TREASURY DISTURBED Sprague Denounces Monetary Policy

New York, Nov. 22. The Treasury is obviously most disturbed, not so much by Mr.

WHY

ITALY

WILL GERMANY JOIN IN DIPLOMATIC EXCHANGES? OBJECTS?

To The League Of

"Nations

Efforts To Bring About Good

Results

Rome, November 33

A radical reorganisation of the League of Nations will be discuss-

Sprague's resignation as by BONCOUR SOUNDS WARNING AGAINST ed by Sig. Mussolini and M. Avenol

scathing denunciation of the pre- sent monetary policy, according to the New York Times Washing- ton correspondent who describes Mr. Sprague as firing the first gun of public battle over Mr. Roosevelt's Ascal policy.

According to the Hearld Tribune, Mr. Sprague's resignation reduces the Conservative Treasury group to two, Mr. Douglas and Mr. Black, since Mr. Morgenthau will proceed with

of the organisation

the authority and responsibility to cut of Wall Street contacts with the intention of ending dissension in the Roosevelt high command.

Newspaper comments Mr. an-Sprague's resignation pay tribute to his honesty and courage. The New York Times pointing out that his letter to the President cannot be ascribed as either stupidity or malice, while the Journal of Com- merce refers to Mr. Sprague as one of the leaders of a sound money movement to meet with the noisy agitation of inflationists-Reuter.

Nanking, November 22. Chen Chal Tong's representative, Yang Teh Chao, is calling on Mr. Wang Ching Wel this afternoon and leaving for Klangsi on Friday to interview General Chiang Kai Shek,

Is meeting again this morning. Reuter.

011

SUSPENSION OF ACTIVITIES

Geneva, November 22.

A. crisis arose following a gen eral agreement on the question oí adjourning the Disarmament Con- ference until January.

A draft resolution, prepared, it is stated, by the Bureau, recom- mended that the aims of the Dis armament Conference could best be promoted by diplomatic nego tlations between the "Powers, "and also that there be no meetings, provisionally, of the general come.

mittee.

M Paul Boncour, of France, be pend all the activities of the Con- Heved it to be dangerous to sus-

ference, and felt that the work of the two technical would be symbolical that the Con- ference was still alive. "

committees

INACCURATE REPORT

He complained that, inaccurate statements had been made about the work which the British arma- ment firms were doing. The facts were that the work which made the so-called armament arms busy in October and necessitated their engaging more labour was work connected with hydrogenation...

He cited a statement from Shef- feld that not more than 20 pet cent, of the turnover of the large steel Arms WBS represented by armament and of this percentage a large proportion included quan- tities of marine propelling ma- chinery for the warships being; constructed under ordinary pro- grammes.

mo fox-

to-morrow. The main objection in Italian eyes is the domination of

the France and Britain,

rigid complicated proçedure which re- sults in endless talks and com- mittees. and the disproportionate weight, of influence given smaller countries. Reuter.

INTERNATIONAL SILVER CONVENTION

Welcomed by Sir G. Schuster

New Delhi, November 22 The Indian Legislative Assem- bly yesterday agreed to the rati- fication of the International Silk- ver Convention.

Sir George Schuster, the. Fin- ance Minister, welcomed the Con- vention as a practical achieve- thement and a token of internation-

al co-operation.

There were at present The Italian delegate, took the REASONS FOR RESIGNATION

the fig orders for armaments, in the opposte vlew, pointing out danger that some question might whole of Sheffield. “ Mr. Wang Ching Wei reported

Washington, Nov. 23,

unexpectedly lead to an explosion.

The Premier dealt in detail

the

developments this

other Professor W. Sprague yesterday Fuklen

It is believed that the French with

to statements miörning to meeting of the Cen-resigned his post as adviser to the desires to emphasise the Confer- same effect, giving figures to tral Political Council; but as no United States Treasury. In a let-ence continuing on the basis of prove that the chemical and steel A mere rise in the price of sil- | decisión was reached the Cornell ter to President Roosevelt, he de "agreement "proposed

about which allegations ver could not, increase India's October works on clares that there is no defence 10, while the Italians

said, but wish had been made were almost en- purchasing power, he

to from the drift into unrestrained make clear that a new basis must tirely engaged on industrial pro- the position of China, whose cur- inflation other than organised be sought.-Reuter.

rency was on a silver basis, was different public opinion, to which he pro-

An increase in poses to contribute..

China's pur. chasing power owing to the rise in the price of silver would be only temporary, as the rising ex- change would temporarily en- courage imports.-Reuter.

沙

'RUN' ON CANTON

BANKS

Four Native Banks Suspend Business

Hé fundamentally disagrees with President Roosevelt's monetary policies. He opposes the gold 'pur, chases abroad because he is en: vinced that the policy is ineffec- tive to secure a speedy rise in prices. Such a rise, Mr. Sprague asserts, must develop from a sus tained demand for labour ma- terials and there is nothing to

PRELIMINARY CRITICISM

London, November 22. When the "House of Commons reassembled yesterday afternoon a motion that a humble address be presented in reply to the speech which His Majesty the King delivered from the Throne at the opening of Parliament, in the morning, was proved and seconded, in accordance with the (From Our Special Correspondent) show that the depreciation of the custom; by two private members dollar has induced such a demand. Mr. R. H. Cross and Mr. Keandth

Professor Sprague believes that Lindsay, the latter Canton, Nov. 22.

making present policy threatens a

Officials of the Canton Munich-

the

CANTON'S ISOLATION MAY NOT LAST pal Bank, upon which a run has complete breakdown of the Gov-arst speech in the House.

are

(From Our Special Correspondent) to the local office of the 19th Route Army, and members of the Central Committee of the People's Canton, Novernor 22. Canton's splendid

Revolutionary isolation"

Government will not last long, as the Fukien General Li Tsai Hsin, Chen Ming independent movement has a great Shu, Chiang Kwang Nai, Taal Ting affect on the South-West. Mill-Kal, Tai Chi, Mr. Eugene Chen and tary and civilian leaders here held Mr. George Hsu Chien, etc. Their an important meeting to-day and declaration which was to have decided that a circular telegram been issued yesterday will be de- will be issued to-morrow settingferred until to-morrTOW,

After the customary

ducts. British Wireless.

CONFERENCE TO ADJOURN

Geneva, November, 22. The question of ·adjournment of the Disarmament Conference will come before a private meet- ing of the Bureau this afternoon, when Mr. Henderson will suggest that the general commission should not be convoked until after the the meeting of the council of League on January 15, 1934.

tions will be undertaken in order Meanwhile, diplomatic negotia

reduce political divergencies and Mr. Henderson, the vice Pre- sident and Secretary of the Con ference will decide to what extent the current work can be continued.

his

to

complit- been 'made since

ernment's credit and declares tha yesterday, ex-

the alternative is to abandon thements to these speakers, the lead- pect that the crisis will be over in a day or two, as the Bank has present policy or to meet the Gov-er of the Opposition embarked on a preliminary criticism of the sufficient reserves to meet the ernment's expenditure with addi-

Government's policy as outlined payment at its head office on the,

tional paper money, Bund and the two branches in the

in his speech, but took the occa- city.

sion to welcome its declaration of badda | loyalty to the League of Nations, On that point, he said, the Op. position would give the Govern- ment their full support since they (From Our Special Correspondent)tion of nations into groups, with

saw no alternative to the forma

possible disastrous consequescès. British Wireless Service.

Cullible people are alarmed by the turn of events in Fukten and flock to the Kwangtung Provincial Bank and the Canton Municipal Bank for the redemption of their banknotes.

forth their stand towards the To prevent rumour-mongers | newspaper men People's Revolutionary Government from spreading hair-raising stories In Foochow

to alarm the people, precautionary measures have been taken by the local police and gendarmes,

UNDERSTANDING WITH FORMOSA?

Mr. Hu Chun, Manager of the Canton Municipal Bank, told that the tota. amount of banknotes in circula- tion is only $2,000,000, and that The circular telegram is in part

the total assets are valued at 85,- a reply to the telegram from

000,000 with $1,000,000 in cash s General Tsal Ting Kal Offeer

reserve. In the circumstances, Mr. Commanding the 19th Route Army,

Hu believes that the run is as a urging the Canton generals and

result of wild rumours let loose by leaders to join the movement to

speculators and money dealers, oust General Onlang Kai Shek,

Nanking, November 22. The run on the Kwangtung Fro- head of the Nanking Government. The People's Provisional Gov-vincial Bank continues to-day Despite the numerous Press re- ernment in Fukien has come to The Bank is meeting the demand, ports arriving here from Amoy and terms with the Communists In but the people demanding" pay-. Foochow, the real situation there | Klangst and is negotiating with is rather obscure. The new Gov- the Governor-General of Formosa, process in getting cash.

ment are impatient by the slow ernment in Foochow was formally according to the "Central Dally established at 10 a.m., according News,"

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4

SILVER MARKET

London, November · 22. Following are the Silver Quota- tions on the London market to- day:-

Spot

Forward

Nov, 22 Nov. 21

18.5/18 18 18.7/16 181

The London on New York cross rate to-day closed at £-U.S. 5.44.

The distrust of curency, already manifest, may then extend into but currency or securities yielding Because a frantic desire to hold anything a fixed income return. Mr. Sprague states, Reuter.

of this tedious and lardy proce- dure, the crowd is becoming big

ger and bigger."

Four native banks have suspend- ed business in consequence of the financial panic.

دیر

"THE BIRDS WILL SING”-

Washington, Nov. 23.

"I think the sun will rise to- morrow and the next day and the birds will still sing," is Mr. Henry Morgenthau's comment on Pro-

The provincial and the city Chambers of Commerce assure the public that there is no cause for apprehension, as the number.fessors Sprague's resignation. of redeemable banknotes culation by, the Provincial Bank

in cir-

can redeem with its silver reserve.

"He is now negotiating to write a series of articles on "How I treat

is about $10,000,000 which the Bank Uncie Sam's monetary ills” thị

Acting Secretary of the Treasury The two Chambers point out that added.-Reuter. the financial nervousness would have disastrous effects mostly on merchants and the public.

PIRACY

FLIGHT OF CAPITAL' MAY BE INTENSIFTED

GERMANY'S WITHDRAWAL The Prime Minister, who spoke later, referred to the DisarmIN- ment Conference conversations in Geneva.

He said Germany's withdrawal from the League and the Disar- mament Conférence had created a new situation which itself had to be considered and made the before subject of an agreement the Disarmament Conference could progress further. That the Con- ference should be carried on was matter in doubt was the best im- never in question and the only mediate procedure.

Sir John Simon and Captain Anthony Eden have during the past few days taken part in series of profitable and amicable consultations with the President of the Conference and represen. tatives of other nations.'.

DETERMINED 'SPIRIT

Sir John Simon had returned to London, this morning and has good and determined spirit of co- reported that there was a very

operation at Geneva and. that there was no intention of allow.. ing the work of the Conference to dle or to fail, but that there was a widespread feeling that parallel

New York, Not 22. On the receipt of the news of THE SHENG AN the resignation of President Roose- and suplementary efforts by the velt's former financial adviser, use of diplomatic machinery Professor Sprague, from his post should now be made in order to as Treasury adviser, yesterday, the make the most effective contribu- United States dollar eased from tion to the work which the Dis-

charge. later to 2-U,B.85.42.

Wall Street observers are of the He added that the Foreign Ser. oplafon that the flight of thecretary went to Geneva as the dollar will be interaided-Reuter.

representative of the Cabinet as a whole and 'they were entitled to claim that British grit was doing much to bring about the united effort so necessary for ultimate success,

Europeans to be tried £8535 to -U8.85.39, and armament Conference had in its

Next Month

Dairen, Nov. 22.

It was announced this morning

by the Japanese authorities that

NO COMMENT Warm Springs, Nov. 23. President Roosevelt, who is the trial of the five Europeans in- spending a fortnight's holiday volved in the Sheng An piracy

here, bas accepted Professor outrage, has been set for Decem- Sprague's resignation in an un- ber 141.

concerned manner and without comment.

The case will be tried in the Dairen District Court by three

| judges.—Reuter.

NEW CHALLENGE FOR

AMERICA'S CUP..

The

DIPLOMATIC EXCHANGES The Premier went on, "We hope that Germany may join in these The President's secretary said diplomatic exchanges and that that the resignation will not af- France and Italy will continue fect the President's monetary pro- the efforts which we have been gramme.-Reuter,

HITLER'S HOLIDAY

i

and are still making-so cordially together to bring good results aut of the conference. Of course we shall continue to act in all these matters in close touch with the. United States."

London, November 22. new challenge for the

The Premier cited the proverb Berlin, Nov. 10. America's Cup WOS cast yes-

In order "to recuperate from the "Where their is a will there is a terday at Mesura Camper and enormous strain to which he was way," and said the British Gov- Nicholson's Yacht Yard at Gos- subjected in the weeks preceding ernment certainly had the will ta port in the presence of Mr. O. M❘ the Reichstag elections, Adolf Hit- make the Disarmament Confer- Sopwith to whose order the isler is now enjoying "a"few days ence atcceed and would not lose being built. British Wireless Ber-holiday in his Bavarian resort at an opportunity of discovering a vice.

Berchtesgarten-Transocean. way of working

Mr. Henderson has intimated he is prepared to stay at Geneva another fortnight, which suggests the possibility of a Franco-Italian compromise in regard to the con- tinuation of work, but some other delegations favour the adjourn ment for Christmas in a much

shorter period-Reuter.

GOVERMENT'S EFFORTS

The

DEFENDED London, November 22.

animously passed in the House of speech from the Throne was un

"address-in-reply. to the

Lords, last night.

The War Minister, Lord Hail sham, lengthily defended the Government's Disarmament efforts, attaching the greatest importance ti the maintenance of the League of Nations,

Britain would do her utmost to carry out negotiations within its framework, be said,

It was indicated that the trade negotiations with the Soviet would soon reach a satisfactory conclu- sion.-Reuter.

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