1934-05-10 — Page 9

LEAGUE EXPERTS' REPORT ON CHINA

HONG KONG DAILY PRESS, THURSDAY, MAY 10, 1934.

HIROTA'S REPLY BRITAINS

TO BRITAIN

FOREIGN

RUBBER PRICES FALL

TRADE

Criticised By Gen.

AGRICULTURE OUTPUT

MUST

C. D. Bruce

Railway Contract With Poland.

As Result Of Quota Details

BE INCREASED

Large Decrease In Silk

Exports

Nanking, May 9.

The Rajchman report on activi- ties by League experts to China was issued to-day. It deals with M. Rajchman's activities up to April 1 and gives the history of the Economic Council with agricul- ture, cotton, silk, water conser; vancy, roads, health, education. and activities reconstruction methods proposed for technical collaboration through the League.

Under agriculture, it says their studles agree that the fundamental factors are the low output of Chinese agriculture, high cost of credit facilities. burden of taxa- tion, and harsh uneconomic system

of land tenure. The Economic Council has decided to assist financially and technically Klang- st. Shensi and Kansu in compre- re- rural hensive projects of habilitation. Land tenure taxation reforms are impossible without a proper land survey and registration the cost for which is estimated at $130.000.000 for the whole of China. Despite the fact China has eleven provinces capable of growing cot- she imported .in 1932 lun,

The $233,000,000 of raw cotton. Council has created 2 cotton nationalisation commission for the/ hinprovement

seeds and A

systematic control of the whole industry, and rationalisation of trading methods. The falling off in the export of Chinese silk was

CANTON SILK INDUSTRY

Improvement In Trade With India

The

London. May 9.

Times" gives prominence

SILVER QUESTION LONDON NEW-

IN U.S.

Roosevelt Ready To

Take Action":

Washington, May 9. President Roosevelt yesterday outlined to the silver advocates a two-day programme involving the nationalisation of silver and a 25 per cent silver basis for the American monetary system.

Eight Senators attended the conference, at which the President

ZEALAND FLIGHT

Jean Batten At Rome

Σ

London, May 9. Jean Bätten has arrived Rome. She started this morning from flight to New Zealand. This is the third at: Lympne on tempt. She intends to fly via Athens. Baghdad and Karachi along Scott's route to Darwin. Fler Auckland. ultimate destination is

London, May..9. Frantic conditions prevailed on London, May 8.

the Rubber Exchange following the to a letter by Brigadier General C. Colonel Colville, Secretary for

announcement of quotas, prices D. Bruce emphasising the import-Overseas Trade, sald that the re- failing sharply, excited dealings ance of M. Hirota's reply to the ports of various delegates, In re- British Ambassador that Japan has gard to the trade mission to Po-later staging a partial recovery.

While traders have not yet found no intention of abandoning the land, were being considered in con- time to weigh up the implications, issued the following statement:--Reuter. Nine Power Treaty. In his letter nection with preparations or the disappointment is felt at the too the general says the Chinese have negotiations or Anglo-Polish trade. proved to be incapable in a whole generation to achieve the restora- tion of law and order throughout eighteen provinces. International help is the only panacea, not Japanese help under a new Monroe Doctrine, but by all Powers who are signatories to the Nine Power Treaty.

This hitherto neglected treaty.

tings for brakes on the Polish state railway.

Other Important contracts, in volving £2,000.000, have recently been secured in Poland by British

Service.

TURKISH TRADE

He announced that the Westing-gradual restriction scale. Estimat- ed stocks amount to 800,000 tons house Brake and Saxby Signal at the end of the year whereas, Company had concluded a contract

.400,000 tons is regarded as normal. with the Polish Government for

It is pointed out that the 100 per £4,800,000 in connection with t-

cent. quota for Juhe and July which is in excess of current pro- duction, might enable planters and dealers to dispose of part of their Excessive stocks in conformity scheme. -the with provisions of

situation, is expected to result in Further- à temporary weakness. more. it is anticipated buyers will be inclined to hold off at present Detalls are expected to dispel the apprehensions of consumers regarding the violent price rises. I' is felt they have been generous- ly treated. An expert, when in terviewed, stated he expected the price to remain in the neighbour- bood 7d. in the near future. Stock Exchange opinions witness yesterday's good investment buy- ing which should enable the mar- ket to absorb heavy profit taking by speculators for whom immediate prospects are not Reuter.

TWO VITAL POINTS "At the conference between a

number of Senators, the Secretary MR. LATHAM IN

JAPAN

of the Treasury, and the Presi- dent, there were further discus- sions on two points relating to the Yurther use of silver as a metallie“ reserve for the United States, more specifically the possibility of nationalising silver in the same manner in which gold has already been nationalised through the

a limited price was explored.

"The meeting also explored the polley having 25 per cent mone- tary value of the metallic reserves of the country in the form of silver."

will form the best basis for a fresh firms, he added.-British Wireless This, while ultimately clarifying the purchase of exdating free stocks. at (From Our Special Correspondent) Start in International relations in the Far East, the most direct and -དྷཱ」「

most efficient channel by which to Canton., May 9,

carry out the "Open Door" polley, Silk from this province has found

In China. It is safe to say all a fairly good market in India dur-

Western nations are prepared to the past few weeks owing to the great decrease in prices and to the carry out that policy.--Reuter. tendency in India to buy Chinese rather than Japanese silk..

The exports to India are not the JAPANESE

best quality, and if such grade of slik is sent continuously to India. there may be an impression that Chinese Silk is of decidedly infer- lor quality, therefore, silk exporters and manufacturers are taking steps to improve the quality before such notion becomes ingrained in the minds of the foreign buyers.

WAR DEBTS

PLANS

a striking feature in the Chinese Rumours Regarding

economic situation between 1928 and 1933, when it fell by 87 per cent.

STATE CONTROL OF

. SILK

M. Benito Mari, the Italian ex- pert, recommended state monopoly control of the industry, except that of silk reeling and marketing raw silk which he recommended should be left to private enterprise. The Silk Commission had received $750,000 from the Economic Coun- cil for the establishment of breed- ing and demonstration stations and bureaux have been establish ed at six ports for testing and grading silk for export.

League experts on the water conservancy, had studied problems in China for three months and extensive laboratory research has been planned.

Road construction had been co- ordinated by the Economic Council and during the past two years.

Roosevelt Proposals

Washington, May 9. While no official information is forthcoming as regards President Roosevelt's plans on the British and other war debts, it is strongly rumoured that he will suggest a retro-active application of 1 per tent. Interest on debts with a re- quest that the remaining capital sums be, liquidated in 30 annual instalments without interests.

ན་

It is believed in some quarters that this has been allowed to leak out as a trial kite, to gauge opin- ion at Home and abroad.

The British Chancellor of the Exchequer. Mr. Neville Chamber- lain, recently stated in the House

to

AND "NAVAL

FETTERS"

Tokyo's Policy Still Unchanged

Tokyo, May 9. Addressing the Convention of Pro- vincial Governors, the Navy Mini-"

London, May 8, The Parliamentary Secretary of the Board of Trade, Dr. E. L. Bur- gin, informed the House of Com- mons yesterday that the Govern- ment was proceeding as rapidly as possible with the consideration of a trade station between Turkey and Great Britain, although he was not in a position at present to make alay statement. British Wireless Service,

The silver advocates left the White House smiling and observed that if the programme worked out it would be satisfactory,

CONFERENCE 'NOT. FINAL

To Lunch At Royal Palace

Osaka, May 9. When the Hon. Mr. Latham. front.

the Australian Goodwill Mission arrived at Kobe he was enthusiasti- cally greeted by a large gathering of officials and the populace, in-

cluding hundreds of school Chil- dren. It is announced Mr Latham will be an Imperial guest and giv- en audience and will lunch at the palace on May 11.

It is emphasised that the White MR. INSULL IN CHICAGO House conference was not final. More meetings will be held, which

Chicago, May 9. Mr. S. Insull collapsed as he is regarded as a definite Indica- tion that a final agreement was

reached the office of the US. not reached between the President Marshal to be taken into 'custody, enticing and the silver bloc on the legis-due to a heart attack which is re-

DANISH FIGURES

Parliamentary Replying to a question regarding the Angin-Dan- Ish trade agreement, which came into operation last June, the Secre-

WHAT OF SMUGGLING? tary for Overseas Trade. Colonel Colville. said that in the nine

London, May 9. Questioned months ending March.. 31, British

as to precautions exports to Denmark amounted to against smuggling arising from the £9.220.000 as compared with £7,- | rubber regulation scheme, Sir Cun- 981,0000 in the corresponding per-liffe Lister said in the Commons lod of last year.

ne thought the comprehensive The adverse trade figure, he character of the scheme embracing added, was still at about £20,000,000 all eastern producing countries was most effective assurance but was decreasing-British Wire- the

against smuggling. Reuter.

less Servcie..

ster. Osumi, declared the Navy's decision to extricate Japan from the fetters of existing disadvantageous naval Treatles remains unchanged. He stressed that, the 1935 Naval¦ ̈ábätká£ááðaðàäðótkichð Conference will have a vital bear- Ing on the fate of the country and called on all Governors to lead public opinion toward a better un- derstanding on this question.- Reuter.

SILVER MARKET

(From Our Own Correspondent)

London, May 0. Loridon silver, prices to-day were of Commons that the British wat up 11/16ths for "spot" and up debt at present amounts US/8ths for forward as follows:- $4,368,000,000.-Reuter.

May May 9 101 19.13/16 Forward....m 19.3/16 19.13/16 The London on New York cross rate at 2 p.m: to-day was 5.13/16 compared with 5.111 at yesterday's closing.

roads built with the assistance of RUMANIAN TOWN

the Council measured 4,000 kilo- metres.

The Government Administration for Public Health has completed a three year plan drawn up in 1931 successfully and participated in work in other branches of the Economic Council ensuring medical npidemiological supervision in con- nection with road building and re- Hef work-Reuter,

CONCLUSION

1

M. Rajchman concluding his report states, "As regrads experts commissioned by the Technical Organisation, League Missions should be conceived essentially as consultations in relation to clearly defined" problems. The Consulta-

IN FLAMES

Outbreak Starts In

Hospital

Bucharest, May 9.

of the most Campulung, one picturesque towns in Rumania is

reported to be in flames following fire which broke out in the hos- pital.

Hundreds of houses have been destroyed but the casualties list is not yet known.

The village of Hatmandgea

Spot

JAPANESE TRADE COMPETITION

Tremendous Growth

In Recent Years

THE TOLL OF THE AIR

Another Plane Wrecked

London, May 9, The utmost anxiety is felt for the fate of an airliner from Paris to London. The pilot was- speaking to Croydon when the 'plane was nearing the channel His voice suddenly ceased. It is believed that six are aboard the "plane which is at present three bours overdue.

Searching 'planes detected the wreckage of the airliner a few miles north of Boulogne. Boats

scent.—— are hurrying to the Reuter,

lative programme.

ported not to be serious-Reuter.

One member indicated that the group was meeting with the Trea- sury Secretary, Mr. Henry Morgen-mined in America at 64 cents. thau and other Treasury officials. Hence a permanent big rise is not to-day in an effort to draft legle expected.-Reuter lation for passage at this session: of Congress.

"He added that the Bill's declara- tion of polley would be mandatory.

Reuter

MUCH DISCUSSION Overnight Washington news re- garding silver developments was widely discussed by sliver and foreign exchange circles." The SPECULATIVE ENQUIRIES former are of the opinion that Indian speculative inquiries, with news of a bullish definite agree- sellers holding off, explain to-day's ment has not been yet reached. rise in silver.

With sellers most reserved the London financiers are uncertain extent of the rise is entirely de-

*REGULATION OF regarding the future till it is pendent on the volume of buying.

RUBBER

New Committee Assembles

shown whether the anticipated The dollar only eased slightly, American Legislation for the puf- indicating the market's opinion chase of silver will be mandatory or that nationalisation of silver "In permissive. All agree that unless the same manner as gold" must the President buys internationally necessarily result in the United the World market is unlikely to States being inundated with fox- be affected. If he only buys in- eign silver with a consequent loss ternal stocks of silver in America of gold." Therefore, nationalisation,

be It is estimated two hundred million must confined to doraestic ounces will be ample for all pur-stocks. Even this is not consider- poses and no more likely to affected easy owing to dificulties of London, May 9.

fixed silver-gold The International Rubber Regu- the World market than when the establishing a lation Committee, at the inau-President announced to buy silver ratio-Reuter, gural meeting, yesterday, fixed the exportable amount for each ter- ritory at 100 per cent, of the basic quota during June and July, 00 per cent, during August and Sep- tember, 88 per cent, during 'Octa- ber and November 70 per cent. during December.

Rigid adherence to the month- ly percentage is not expected, but the excess or deficiency of one month may be adjusted subse- quently."

The Committee elected Sir John Campbell as chairman and Mr.

FREEDOM OF THE van Gelderen as vice chairman.

PRESS

New Instructions In Germany

Berlin, May 9.

It was decided to favite repre- sentatives of the manufacturers to nominate persons as an advisory panel in time to attend the next meeting-Reuter.

CAPT. W. BENN IN SHANGHAI

tions should be preceded by re- Dobruja is also on are, and the quisite surveys and studies Inflames have spread with alarming China which are best effected by rapidity owing to the prolonged dealing with Japanese competition Minister of Propaganda, Dr. Goeb Impressions Of U.S.

Chinese technical administrative drought.--Reuter.

authorities. The *Institution's specialist's consultant should be

limited to prominent specialists of

international authority. Collabora- NEW BARRACKS

tion should be the aim of associat- ing National technical services in China with those engaged in a similar endeavour, in other coun- tries

to and thus, contribute

AT SHANGHAI

ti

strengthening the foundation to For Use Of Japanese

function the National machinery for economic development in China." Reuter.

FIVE KILLED IN FACTORY EXPLOSION

Electric Light Bulb Breaks In Tamnika Works

Belgrade, May 9. Five persons were killed and 10 seriously injuried in an explosion "at a gunpowder factory at Tamni-

ka, yesterday.

Only

London, May 9.

In regard to the measures for

In the British. Home and Colonial markets, announced on Monday by the President of the Board of. Trade, Mr. Walter Runciman, the

extent to which Japanese com-

petition has increased, since the depreciation of the yen began at the end of 1931, is shown by the following figures:—

In the five years-from 1927 to 1931, on which period the import quotas now introduced are based, Japanese cotton plece goods enter- ing British Colonial market in- cluding East Africa, averaged

The German press is to be given "greater freedom of "action" by the new instructions Issued, by the

bels. whereby newspapers in future will be allowed to do their own "reporting of public - events "unless reason necessitates a ̈dif- ferent regulation."

Shanghal, May 9.

An interesting visitor to Shang-. hat is Captain the Rt. Hon. Wil- liam Wedgwood Benn, who was Secretary of State for India from 1929 to 1931.

The embargo on all reports about questions of public interest as well as on their own news. ser vices will be lifted, and leader writers will be given "the widest Captain Wedgwood Benn, with possible elbow-room within the his wife, arrived here on Monday of limita of, newspaper law, Reuter. evening with the intention

making a short stay in China, studying conditions, before tinuing his round the world trip.

con-

87.873.000 square yards yearly. BRITISH WALKER Capt. and Mrs: Wedgwood Benn

London, May 9,

of Com In 1932 the amount had increased Asked in the House mons yesterday by the Conserva- tive Member for Whitehaven, Cum to 205,020,000 square yards,

The figure for the last year is berland Mr. W. Nunn, as to what new barrack accommodation was not yet avaliable, but it is known being erected at Shanghai for to represent a further large in- heusing the international forces crease.

there, the Financial Secretary to It is pointed out that, although the War Office, Mr. A. Duff Cooper, applied generally to all foreign said that he had been informed imports of cotton and rayon goods that new barracks for the Japan-they will, in practice, react fav ese troops had been completed last ourably to foreign countries who have also suffered from Japanese September...

An electric light bulb broke and the pieces fell into some machin- He was unaware of any other competition-British Wireless Ser- ery, causing the explosion-Reu- new construction-Reuter

vice.

CUP TEAM Munn With

completing an extended tour of the United States, spent a month in Japan, and intend, to return to England via Russia

Interviewed, Captain Benn sum- marised his impressions of Ameri- ca as follows:

“President Roosevelt's popularity Bt. Andrews, May 9, is undimmed. America' is prepar- The British Walker Cup player, ed to accept a form of Socialism Munn, has withdrawn from their offered in the guise of leader

ship. There is a more cheerful team owing to Illness-Reuter

Llonel Crawley replaces Munn tone this year than last year Reuter.

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