1935-09-05 — Page 2

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HONG KONG DAILY PRESS, THURSDAY, SEPTEMBER 5, 1935.-

WORLD FINANCE

GENIUS

Sir Basil Blackett's Career

(Special Air Mail Service)

London, Aug. 25,

Africa, and, in 1933, to Malaya, where he made an exhaustive ex- amination of currency problems at the request of the Government.

ADVISER TO MR. LLOYD GEORGE

NO "SECRET”

·PLAN

Efforts To Stop

New Race

I am authorised to state в го port published to the effect that the Admiralty is "seuratly" com mitting the nation to a seven-year naval building programme at s cost of more than £150,000,000 is, purely imaginary and has no busis other than conjecture, writes Heo- tor Bywater in the "Daily Tele

aph."

It is probably true to say that the world possessed no greater authority on international finance Phillott Blacekett than Bir Basil

There is no fixity about any pro- whose death in a car accident in

gramme that the Admiralty has In April, 1933, he resigned his prepared, since it will be entirely Germany we announce with regret

chairmanship of Impérial and In-dependent upon the building of on Page 13.

ternational Communications. Ltd., other countries, and it is quite" im- By the knowledge he had ac-

the country to b cumulated. and the striking man-

and of Cables and Wireless Ltd., 'possible for

to vast expenditure ger id which he made use of it at becoming a director only. This was vomitted the Treasury, in Ind.a, and in com to give him more time for other without the express authority of

Parliament. merce, he revealed ability of a 12-interests, including candidature for

It is true that tentative details kind. His markable

greatest

Parliament. He contested the St.

of the number and types of war- achievement was in India, from Marylebone Division as a Conser ships which this country proposes 1923 to 1928.

He had been serving. for three Vative, but was defeated by Capt. to build in the next few years have

Cunningham-Retd

to

隐器

been communicated privately certain foreign Governments,

But the final dimensions of that. the First Lord recently announced."

fixed until the naval intentions of "programma" cannot possibly be other Powers are at least appro

years as Controller of Finance at

In recent months Sir Basit had the Treasury when the critical an- ancial position which had deve- displayed a keen anxiety to further schemes which he believed were loped in India demanded the most necessary for the improvement of expert attention. He was called the economic position. Last year upon to supply it, and was sent as a member of the National Hous-ximately know. out as Finance Member of the Vicing Committee, he helped to pro- eroy's Executive Council,

The war, bad seasons, and un- stable exchange had led to the Government of India being faced for Ave years in succession, with deficits totalling about £75,000,000, The situation was rapidly becom- rapidly becoming worse.

Sir Basil tackled the problem with tremendous energy. He had previous expérience. of Indian fin- of ance, having been secretary the Royal Commission on that sub- ject which reported in 1914, but the conditions then bore little re- semblance to those he had to face in 1922.

N

He had to provide adequate re- medies for a desperate situation in face of the uncompromising Lost- tility of various interests and the hampering attitude of the Legis- lative Assembly.

DEFICITS CLEARED

By sound schemes, patiently

duce an interim report advocating the expenditure of £400,000,000-in the provision of 1,000,000 houses to be let at an laclusive rental of 10s per week.

Last month his name appeared as one of the signatories to the book "The Next Five Years: An Essay In Political Agreement," which Mr. Llody George announ- ced was to be consulted by him be- for finally formulating his "New Deal" plans. It became known, also, that Sir Basil was one of Mr. Llody George's experts.

It was with a view to eliciting that information that the "Admiral. ty communicated. through dinle roatic channels, a purely provi aional estimate of British naval re- quirements in the near future mea

foreign n aured by existing grammes

NO DEFINITE POLICY In plain terms, however, "neither the Government nor the Admiralty has any definite naval programine in view at the present time. This declaration, I may sav. emannter from official sources

D

The following may be accepted na a reliable statement of the noki tion.

1. The British Government's one aim in respect of naval policy is to prevent a new building race when the limitation treation lapus at the end of next year. To achieve this aim it is employing every ef fort to induce all the major naval Powers to lay their cords on the

The only "socrocy about the

Sir Basl endeavoured to recon- cile his support of Mr. Lloyd George with his position as a Con- servative by emphasising what he regarded as the urgency for action. In many speeches during the past five years he had contended vigorously that unless big reforms were carried out modern civilisa-table. tion. must crumble and decay, like the Roman Empire. He attributed business is that enforced by the de- the world's troubles chiefly to mis-licate nature of the negotiations. I may add that certain foreign Powers flatly refused to disclose their building plans except under a pledge that the British Govern ment would treat them as confider- tial. That is the explanation of the Admiralty's reticence.

formulated and fought for, and by br Ilant expositions of currency and financial questions, he affect-management of the Gold Standard, complete transformation. He and, in the absence of an interna- was helped by better seasons than tional currency based on sterling. had been enjoyed. When he pro-

he suggested, as a half-way house, duced his final budget in 1928 he something between that and one was able to show that he had found based on local currencies. He was confident that some currency of a method of c'earing the deficits, ard of furthering mportant pre- this kind, based on sterling would

be of enormous béneßt. vincial developments, without re- sort to increased taxation.

•

He made Indian finances secure, and, by common consent, he was regarded as one of the ablest men ever sent from this country to In- d'a.

FIVE NEW BATTLESHIPS 2 There has never

ful,

been any question of our laying down eight "We see," he exclaimed on one battleships in the period 1937-38. occasion, “a threatening danger tol As I was able to disclose in The the complete break-up of civilisa- Daily Telegraph on June 17, two tion as we know it. The laissez- battleships are likely to be started faire of the riniteenth century in 1937, two in the following year, and one in 193--that is to say, five must give way to some form of conscious organisation and direc-ships in three years. And ever this Long before this, however, heton." In another speech he de-modest programme may be out if had given clear proof of his great clared: "The present generation is the next naval conference in fruit ability. The son of a Nottingham trying in various direction to face 3. That the present British vicar, the late Rev, William Rus twentieth century conditions of life maximum of 50 cruisers is to be sell Blackett, Sir Basil, who was with sixteenth century traditions." discarded when the treaties expire Lorn in 1882, entered the Treasury

He placed his faith in youth, was revealed in The Daily Tele in 1904, after distinguishing him-

"The supreme need of the day, gruph. This figure has long been self at Oxford as a classical scho-

he asserted, "is for young men, recognised as inadequate, and un- far, taking a First in Greats.

able and willing to question every

less a drastic reduction takes place institution, to take nothing for in foreign cruiser programme we granted, to be inconcasts, in the shall increase our total to 60 ships good sense, devoted to the destruc-

as soon as practicable. tion of Ideals,

Ten years later, after the out- break of war, he was sent with a special mission to the United Sta- tes, charged with the duty of re- moving the exchange problems that had arisen. His work was so valuable that in the following year, he was sent back to the Unit- ed States, this time as a member of the Anglo-French Financial Mission, which carried through the negotiations resulting in an Anglo-French loan of £100.000.000, In 1917 he became the British Treasury's representative in the United States. He held this office until 1919. Then, when Sir John Bradbury was appointed British re- presentative on the Reparations Commission, Bir Basil became Con- troller of France at the Treasury.

Then followed his work in India, Before returning home in 1928 he made a valuable tour of Australia, China, and Japan investigating monetary conditions.

"

Shortly after he had settled down in England he left the Civil Service. In January, 1929, he be-

4 No proposal to abolish battle Planning ahead ships has ever been made formally and thinking ahead are the tasks by Italy or any other major Power. of the twentieth century."

So far from Italy being prepared

A man of much personal charm, i to abolish these vessels, she is now he was never afraid of being dis-building the two largest battle- liked or criticised when he was ad- ships in existence, vocating with sincerity the actions Britain will introduce definite pro 6. At the next naval conference he firmly believed were necessary posals for abolishing and outlaw A late member of the Indian Legising the submarine. In this the lative Council once described him will have the full support of the 3.9 "a cheerful cherub with the United States and Germany, and, methode of a steam-roller."

1 understand, the sympathetic. backing of Italy, whose final de cision will depend on the attitude of France. For the Arst time, therefore, a powerful anti-subma rine bloc is in existence, and the hope of aventually getting rid of this sinister weapon is proportion. ately strengthened.

gif Bazil is survived by his sec- ond wife, Beatrice, daughter of the late Edward H. Bonner, of New York, whom he married in 1920.

RELIC FOR THE BANK

(Special Air Mau Service)

London, Aug. 21. The Bank of England will short- ly, come into possession of £5 note Came

chairman, as the Govern- No. 1, dated April 15, 1793, under ment's nominee, of Imperial and the will of Mr. Charles Daniel International Communications, Ltd. Higham, former actuary of the

-the gigantic organisation which Bank Provident Society, of Re- was given control or cable and gent's Park, NW. wireless systems. PAG The note, it was stated yester

This was the beginning of an day, is of considerable historical active connection with the City interest. In the collectors market. which was to result in his becom however, it would not be valued ing a director of the Bank Eng highly. An authority said; land and of many other concerns. Including De Beers Consolidated Diamond Mines Ltda.

"The value of such notes is us ually little more than their face land value, as there is not a great de- West Diamond Mining Co. Datoft, mand for them, I imagine this span Mine. Ltd, and the Premier one would be worth between £5 (Transvaal) Diamond Mining Co..and 16. The fact that it is the

first note adds interes

Els duties took him far and were to come up for He went to Canada, to Bouth might fetch as much

250 EXILE SCOTS TO VISIT SCOTLAND

18pecial Air Mall Service)

London, Aug. 21. Two hundred and aftỹ Austra Ulan Scots are to visit Scotland. next year as delegates of the Victorian Scottish Union.

They will sail from Melbourne on board the Orsova on April 18. A comprehensive itinerary is being arranged for them

They have selected as leader for their tour of good will the Union's president,

een prest Caledonian

who has also

the Royal of Melbourne

Thistle" Society for the

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