NEW MONETARY AGREEMENT
COMPLETE REVOLUTION IN WORLD TRADE
Optimistic View Of Future
11
By Sir Robert Horne!
London, October 2
Association of Speaking last night at a meeting of the British Chambers of Commerce at Cardin, Sir Robert Horne, who was Chancellor of the Exchequer in 1921-23 but who is not a member of the present administration, referred to the currenty agérement between Britain, France and America.
He said: "This arrangement is t going to have the effect on the whate currency systems of the world. It will make it far easter to conduct business
"The foundation on which this new system is erected is the fact i
13
that these countries have put-be-·!
hind this operation an immense sim o motiey by which these ex- changes can be regulated.
"I look forward in the future. not too remote, to seeing the whole International trade of the world "ompletely revolutionised
"I believe that instead of an ins flexible regulation of money trans- actions we shall have a much more 'elastic method by which the eur- rency of the world will be stabilised through the operation exchange funds." —
British Wireless.
of these
LONDON
FOREIGN
HONG KONG DAILY PRESS, SATURDAY, OCTOBER 3, 1936.
DEVALUATION BILL PASSED
Crisis In France
Averted
Ik
Paris, Oct. 1. The threatened crisis between the Chamber and the Senate over: the Devijuation. Bill has been averted by 2. compromise by which A scheme of compulsory arbitration will replace the clause granting srbitrary powers to the Government...
The
Bill. as finally approved by the Chamber, was passed by the Senate after the defeat, by 155 votes to 87, of an amendment to impose a tax of 80 per cent. on profits of stock exchange transactions. instead of the 50 per cent proposed by the Chamber. M. Auriol, the Finance Minister. then declared the extraordinary | session closed.
M. Leon Blum, the Premier, and 1. Paul Boncour. Minister with out portfolio. have now left for Geneva.
CLOUSTON STILL
HELD UP
Only Competitor In Air Race...
HANDICAP PRIZE CHANCES
London, Oct. 2./ The
promoter of the South African Air Race, Mr. L W. Schlesinger, has announced that
ARAB AMBUSH IN PALESTINE
Planes Assist In Operations
Jerusalem, Oct. 2. Seaforth Highlanders under the command of Major General Ho- ward and the Fifteenth Infantry Brigade came under fire in an ambush at Acre on the Safad Road last night,
Armed lorries rushed to the
the prize money left after deduct-spot to assist in beating back the planes ing £4,000 which goes to Scott araba, while two R.A.F.
also came to help. and Guthrie, the only flyers so
There were no casualities among far to complete the course, will
the British forces, be devoted to form the basis of
a fund for the relatives of Cap taln Max Findlay, chief pilot, and A. "H Morgan. wireless uperator, who were killed when their aero- plane, Airspeed Edvoy, crashed at Abercorn yesterday
EXCHANGES It is understood that the Bourse other prizes offered would bring
Burst Of Activity At Start
INTEREST CENTRES ON FRENCH FRANC
London, Oct. 2.
After opening with a burst of activity, London foreign exchanges are now a good den! quieter. In- teres throughout was centred al- most entirely on the French franc which, alter opening Around
GOLD REMOVED 104.00, buyers fluctuated consider
FROM MADRID
"Strong Protest By
Nationalists
Paris, Oct. 2. The provisional Government of the Nationalists in Burgos - has Issued the following statement on Thursday.
time 180
from the vaults of the Bank of
ably and have now come to rest
round 105.75,
A the opening most of the deal- ings were the result of covering of The extensive short position which had been bullt up, after the execu tion of which selling reappeared at a rate almost immediately fall. ing off to 105.75
steadiness, at which it was taken by the ma- jority or dealers as indication of the newly constituted French Con- trol buying francs at this level.
Most quarters opine that if con- the rate no1 Intervene,
"The so-called "Madrid Govern-"|trol did ment" despatched abroad some would have been more in the
same large consigne-heighbourhood of 110.00 · ments of gold which it had stolen A large amount of gold offering in the bullion market to-day is understood to have been taken by official sources, probably British Control acting either on its own behalf or the French Control; and American Control- Reuter
Spain. The Nationalist. Junta has already protested against this action in the countries where the Gold has been sent and déclared that all credit operations carried out on the basis of this stalen gold are unvalid. Now the mask has fallen. The Madrid Anarchist Government and the criminal Mafia, now that the nationalist liberators are at the door of the. capital, have decided to empty
LATEST RATES
London, October 2. Dealings in French franc were resumed in the London foreign exchange market this morning. opening on a new basis of about
he vaults of the bank of Spain 1031 as compared with Friday's entirely and transfer the remain-
ing 4 milliard. Gold to
Alicante
and Cartagena, with the object of shipping it abroad on the air lize "Air France" "
In the attempt to bring this action of criminals to the atten- tion of the world, the Young Spanish State not only reiterates its former protests. but declares that is fundamentally opposed to operations of any kind found- ed on basis of those stolen gold. and will eventually hold the · Gov- ernments of those countries where the goid is deposited. responsible for any damages suffered on ac- count of this stolen gold."-- France News Service.
FRANCO'S MESSAGE TO GERMANY
Chancellor
closing level of 76-37/64
Latest mean rates are sterling on New York 4.93-1/18, Par's 1033. Brussels. 29.215, Amsterdam 9.14. Geneva 21.415, Berlin 12.25.
Stock markets quiet, War Loan 105-7/8.
About 378 bars of gold of an approximate value of £1.038,000 were disposed of at 141}-d— · British Wireless.
PREMIERSHIP IN
HUNGARY
almost certain to re-open to- day... Reuter. M
COMPROMISE ADOPTED
Paris, c. 1. The Chamber Finance Commis- sion has adopted the compromise cr the Devaluation Bill without modification.
The Chamber then passed the Financial Bill by 354 votes to 217. The Bill now goes back to the Senate for approval, with amendment.- ·
Reuter
་་་
One
BOURSE TO REOPEN
Paris. Oct. 2.
de.
was
The devaluation bill finitely passed by the Chamber as well as the Senate shortly after Thursday midnight. In order to reach a "compromise with the Chamber, the Senate agreed to the supplementary clause added by the latter, which provides that specula- tors against the franc must pay 50 per cent.of their profit to the State.
The Minister of Finance, Vin- rent "Auriol was thus able, shortly after midnight on Thursday to announce that the dispute be- tween the Chamber and Senate had been settled, and that the devaluation bli was now definitely approved by Parliament, In con- sequence of this the bourse will be reopened on Friday, after having been closed for eight days.
SENATE CRITICISED
The Right Wing papers on Fri- day morning severely criticised the Senate for having accepted a com- promise formula for the devalua- tion bill
The first "prize of £3,000 Was offered in the handicap section vi the race, the conditions of which precluded one competitor receiving prizes in both sections, and the
the total available for the fund up to £8,000. It is now consider ed unlikely that the handicap prize will be won as the only com- petitor still in the race is Flying Omeer Clouston, who is not yet reported, to have left Khartoum where he is held up awaiting. a new piston from Cairo. As "the race must be completed by 6.30 a.m." on Sunday the chance of Clouston reaching Johannesburg in time is regarded as remote.--
British Wirelem.
WINNING PLANÈ
London, Oct. 2. The Aeroplane in which C. W. A Scott won the race, a Percival Vega Gull with 200 H.P. Gipsy six engine is of same type as the ma- chine in which Mrs. Markham flew across the Atlantic. It is one of the fastest aeroplanes for its power and load
existence. Edgar
Percival, its designer. is also the designer at the Mew Gull in which Captain Halse made such high speed for the first part of the course.-
British Wireleas.
VICTIMS BURIED
Johannesburg, Oct. 2. The almen Findlay and Mor an who were killed in the crash. were buried at Abercarn to-day. The funeral was attended by the whole of the population including planters from outlying districts
keuter', Bulletin Seroses
PARLIAMENT MEETS IN SPAIN
A.
Front" warn the Government that morning. the workers, will take the safe-dead or
Three submarines with tender left Malta to-day for Halfa- Beuter's Bulletin Service.
BRITISH TROOPS IN ACTION
Private Killed In Arab Encounter
British
Jerusalem. Cet 1. troups swung Into ac- tion against Arab guerillas in Palestine to-day, and one private of the Northumberland Regiment
was killed and two others wound- engagement with the
ed 1:31 A
tribesmen.
·
9
INSIDIOUS ENEMY
||
OF HEALTH
MEASURES TO ABATE SMOKE NUISANCE
Exhibition In London
Londe, October 2.
A smoke abatement exhibition designed to illustrate the nature and effects of smoke methods by which air pollution can be measured and how the nuls tnce can be abated was opened yesterday in the 'Science Museum, South Kensington.
Dr. Des Voeux, who presided, re- called that thirty six years ago there used to be some thirty five to forty thick tags in London every winter and some of them lasted for a week. Had the conditions, then existing continued unchecked, Lon- don would now be uninhabitable.
Sir Kingsley Wood, Hea th Minis- ter, said that smoke was a real and Insidious enemy of health' and cost a nation many millions year- 17.
Conditions were better now than at the end of the last century in spite of the fact that 4.250,000 more dwelling houses had been" built since 1901.
The Increased use of gas and electricity had helped in this in- provement, but a great deal had
It was while they were patroll- ing the road between Jerusalem and Jaffa that they were attacked. | still to be done. The casualties on the Arab side
*il
In future progress he thought
are unknown.
that legislation would be a less in- This is the first time that a portant element than prudent ad- member of the recently arrived ministration and
co-operation expeditionary force has been kill-between' public authorities, manu- facturers and voluntary organiza- tilans.
Domestic smoke was now the lar gest part of the problem.-
British Wireless.
ed.
Meanwhile, it is reported that 42 Arabs were killed and 15 wounded in a battle with the 18th Infantry Brigade near Nablus Reuter's Bulletin Service.
CASUALTY LIST
Jerusalem, Oct. 2. Since April 19, 315 men have been killed in Palestine, including 184 Moslems, 80 Jews and 35 British.
The number 1,314.- Keuter.
of wounded
DOVER-DUNKERQUE TRAIN SERVICE
1s
P
MANDATES HELD
BY BRITAIN
No Question Of Transfer
its
London, c. 2.
Bir
BORDER TOWN TROUBLE
Demands Of Stay-in Strikers
Lille, October 2 Stay-in strikes started on border towns of France and Bel
the glum,
strikers demanding restoration of pay cuts which were. reduced when Belgium devalued Its currency, making the cost of. Iving in those towns cheaper.
Now that France had devaluated her currency, the workers main- tain that the cost of living will be higher and that their pay cut by restored.
f
The strike will effect thirty to forty thousand workers.— Rentes
ANGLO-RUSSIAN NAVIES
Agreement Reached In London
A
London, Oct. 1. complete agreement The British
overnment reached on the text of the pre- posed Anglo-Russian Naval Treaty, through
spokesman, Samuel Hoare, First Lord of the subject to the approval of the Admiralty, to-day refused at the Governments concerned and to Conservative Conference at Mar- Germany's adherence to the 1836-
go beyond the official Three Power Naval Pact, recently
made with signed in London. statements already regard to the future of Britain's mandated territories.
London, Ocl, 1. On October 14 train ferry ser- vice between Dover and Dunker-gate to que enabling passengers to travel between London and Paris without change will be inaugurated by the Southern Railway as a night Sir Samuel reviewed the state- service. Three train ferries which ment of the Prime Minister, Mr. will maintain the service provide Stanley Baldwin, in the House of accommodation for 12 sleeping Commons last April, in which the cars and forty loaded goods wa-leader of the Government made
A special dock has been clear the legal position of
mandated territories, showing that no provision had been made for their transfer, and assuring the Government had no intention of raising the matter.
Paris, Oct. 1. Hardy 100 deputies attended gons. The papers of the "Fopular the Cortes session on Thursday constructed at Dover.
The rest were either British Wireless. hiding. The deputies guarding into their own hands if present, with the exception of alx the Government tries to deprive | members of the Catholic Peoples rights that have been left them." the workers of the "rather meagre | Party, all belonged to the Left
wing parties,
PREMIER LEAVES
Premier Leon Blom left here for Geneva late on Thursday evening. although the devaluation bill had. not yet been passed at the time of his departure.— Transocean News Service.
the
ESTATE OF FAMOUS SURGEON
11
After opening of Parliament by the President, the law granting
London, Oct. 1. the Basque autonomy on the lines The late Lord Moynihan, im- of the Catalan Statute, was read minant surgeon, left estate of the Premier Caballero then addressed value of approximately £325,000 Chamber. After declaring by his will, probate of which that the Government forces were was applied for to-day. The in- nghting for the liberty of Europe. I tended bequest. of a £1,000 to he outlined the programme of his Leeds University for a scholarsnip Government, which he is prepared to be named after his wife, which wo carry out when the final victory the late Lord Moynihan, had not 14 Won. Amidst applause from the opportunity to insert in his the left he declared that the will, it is announced, will be car. whole form of Government must | ried out by his family.- be changed. Spain must be made | British Wireless. into a Republic of the Proletariat. The Budget and the Basque London, Oct, 2
autonomy, bill were then passed, M. Leon Bluta, French Premier,
LS well
as measurea giving the arrived in Geneva by train this Government full powers to carry
had 1 morning. He
series of on its fight for the establishment
of the Proletarian Republic. Transocean News Service.
FRENCH PREMIER AT GENEVA
Series Of Private Talks With Mr. Eden
سی
private talks at a luncheon which he gave to-day in honour of the British Foreign Minister, Mr. An- thony Eden.
thha
Budapest, Oct. 1. The question, whether General Goemboes will be allowed by his physician to return to public life at the end of his vacations, is at present subject to much discus- $ion. It is stated that Goemboes has very much improved in health, Berlin Oct. 1. but that the strain of public life Hitler's deputy. might
not be good for him. It Rudolf Hess, received, the follow- is generally expected that, should ing telegram from General Franco:
Goemboes be forced by has health "In the name of the defenders to vacate the Premiership; his Paris press reports anticipate. of the Alcazar in Toledo and of present Deputy, the Secretary for
as a result of the visit. the forces under my command. I Agriculture, Daranyl. would be French initiative in favour of the tender you the heartiest thanks commissioned by Regent von Bcr- setting up of a European economic for the moving message of con-
thy to form a Government, and and financial committee along the gratulation from the Congress of that then only a few posts would hes suggested by late M. Briand the N.S.D.AP. and at the same be occupied by new members, to will take an active form.---- time express may wish for the future give the Cabinet a great unity for
British Wireless. and greatness of the German Na-carrying out the policy inaugurat-
lou."-
ed by General Goemboes. ` Trmancean News Service.
General Qoemboes, who enjoya the confidence and veneration of the entire country, will place his services at his country's disposal in a form not yet known.--
#
UNDER-WATER
POWER STATION
(jong Konk Daily Press" Speciat
Stockholm. Oct. 2.
Transacean Yews Service
!!
The frst under-water power
SWISS LAW station in the world has just been opened at Stettin in Germany.
Berne, Oct. I This enormous undertaking is, A law for the defence against after the Ruegen Dam, the most attacks on the independence of important and largest building the Swiss Federation" WAS UP- work undertaken by the Pom- amimbusly passed in the Swiss merania local authorities and it Parliament, even the Communist has provided 230,000 days' work-deputies voting for it. Trogiocean News Bercier
Transocean News Service.
ROME COUNCIL MEETING
Rome, Oct. I... Mussolini summoned a minister)~ al Council for Monday next in or- der to take the decisions necessary by the new political situation. At the same time the Grand Fascist Council has been convoked for the evening of the 18th November. The fact that the highest constitu Honal bodies meet at dates so far apart is interpreted here that the ra is not intended to be devaluat ed at present... Transocean News Server,
14
NATIVE RUBBER
EXPORTS
Netherlands Duty Rate Increased
Batavia, Oct. 2. The Netherlands East Indies ex- port duty on native rubber effective October 1 is 48, guilders per 100 Kilograms dry weight.--- Bruter.
DUTCH AIRMAN. MISSING
Perth, Oct. 2. Aeroplanes are searching east of Kalgoorlie for the Dutch airman." Rous Van Beekman, from Jáva, who left for Perth on Wednesday on a holiday tight around. Ana- tralla.
SENOR PABLO IN LONDON
The agreement follows the prin- ciples of the 1936 ́treaty, excepi that Russia will have the right to build seven cruisers with 7.1 inet guns instead
دا
the limit
treaty.
the
of 6.1 inch, which laid down by the
''
Moreover, regards the P East, Russia will have a free han I building. except that she
to build VERSCHA. undertakes not there outside the limits of the 1936 treaty. This 'means that if
these exceeds
Hmite. Japan Russia will be permitted to
Sir Samuel added that
Mr. Anthony Eden, the Foreign Minis ter. "had amplified
the Prime likewise. Minister's statement on July 27.
He hoped that in view of the present delicate International situation he would not be pected to elaborate
or add these statements, said the First Lord.
ex- to
assurance
The Conference, by acclamation, adopted the resolution urging the Government. to give that Sir John Simon's statement to Herr Adolf Hitler of Germany in March. 1935. to the effect that. cession of any British mandated territory was not a question to be discussed, still represented the Government's unalterable attitude, Reuter
H.M.S.. HOOD
London, Oct. 1. On his arrival” at Croydon this
London, Oct. 1. afternoon the new Spanish Am- H.M.B. Hood, . flagship of the bassador Senor Don Pablo de Battle
:
Cruiser Squadron, left Azcarate was officially welcomed | Portsmouth to-day or the Medi- behalf of the Foreign Secretary.terranean.-- British Wirelesu.
"GRANDI TO GET ANOTHER POST
Rome, Occ. •,'«
It is reliably learned that Signor Dino Grandl, the Italian Ambas- sador in London, will thortly be transferred to another post- Reuter's Bulletín Servies
SOVIET SUBJECTS EXECUTED
Lisbon, Oct. 1, Eighteen Boviet subjects were taken prisoners near Toledo on
It la feared that he may have | Wednesday with weapons in their lost his bearings and crashed in hands. They were condemned to rugged country.--- Reuter.
death and shot
Transocean Frus Sermine,
British Wirelean.
Russia also undertakes...not w
from the Far East sc. transfer Europe, or the Black Sea any vessels constructed in the To East exceeding the qualitative down in the 1930. mits Iaid treaty.
It is understood, however, that Russia la not bound to exchange taformation concerning her Paz. Eastern construction Reuter,
FOREIGN MINISTERS TO MEET
Rome, Oct. 1. The riceting of the foreign ministers of Italy, Austria” and Hungary will take placé bener ar in Vienna in the first week in NU- vember, according to well induimmed circles. On conclusion of thesman- versations, Foreign Minister Eksinə will visit Budapest.-- Transocean Feur Service.
Major and Mrs. Dowling chatting in the public enclosure at last
Saturday's race, meeting.
No comments yet.
Private notes are available after approval.