HONG KONG DAILY PRESS
Finance and Commerce
COLONY'S 1938 TRADE
SHOWS BIG RISE
Decline In Imports From
||
Japan
THE IMPORTS AND EXPORTS DEPARTMENT (Statistical THE
Branch) reports that the combined values of the Colony's imports and exports of merchandise (excluding treasure) during the year 1938 amounted to $1.130.1 millions (C69.9 millions ster- ling as compared with $1,084.4 millions (€66.9 millions) in 1937, and $803,3 millions (C50.6 millions in 1936.
In terms of local currency the total visible trade of the Colony Increased by 4.2 per cent. in 1938 as compared with 1937, and by 40.7 per cent. as compared with 1936.
In terms of sterling the total visible trade increased by 4.5 per cent. in 1938 as compared with 1937, and by 38.1 per cent, as compared with 1936.
(It should be noted that average TT. sterling rate for 1038 was 19. 2.27:32; 1937: 1s. 2.13/16d., and 1936: 1s. 3.3/18d.1.
COMPARATIVE TABLES
The following comparative table shows total values of imports and exports of merchandise and also of
Imports of merchandise totalled treasure during the years 1938 and $618.1 £38.21 millions in 1938 as 1937:--
compared with $617.1 £38.1) mil-
Hoha in 1937 and $4524 (£28.5)
millions in 1936; whilst experts
BIG BRITISH
LOAN FOR CHINA
LONDON. Jahı. 22 (Reuter)-
Arrangements are
ncurly com-
plete for granting a £3,000,000 loan by the British Government
FINANCE
DR. SCHACHT'STM DISMISSAL
Reason Kept Secret
PERLIN, Jän, 22 (Reuter)— All Berlin Is, trying to discover the reason for Dr. Hjalmar Schacht's retirement from the Reichsbank presidency, which has been kept secret.
It is denied on all sides that the for the supporting of the Chinese change was the result of any dif currency and stabilising the eX- | ferences" with regard to the hand- change according to the "Dallying of Germany's finances" and Herald."
leconomy.
the
Offcial circles insist that real reason is the one announced.
Reuter learns that the question of financial assistance to China is being carefully considered.
Ometal British circles do not namely the desirability of unifying' deny the Dally Herald" story but the financial and economic com-. are unable to give any further in-mand of the nation, formation at present.
SEN. PITTMAN'S NEW SILVER PROPOSAL
NEW YORK, Jan. 22 (Reuter) -Na mention is made in con- nection with Senator Key Pitt- man's silver proposal of the question of seignorage, which at present is 50 per cent. Thus it appears that Senator proposes fu!! statutory 9,801,218 388,448,955 price for domestic liver.
Bullion circles are of opinion
Imports, 1938
S
1
1937
$
totalled $5119 (£31.7 millions in Merchandise 818.168.937 617.063.967 Pittanan 1035
$467.3 Treasure ጌና compared with (£28.8) millions in 1937 and $350.9 (£22.1 millions in 1936.
In terms of local currency tm- ports of merchandise L 1938 in- creased by. 0.2 per cent. as ccm-
Total 627,770,155-1.003.512.922 that the matter at selgnorage, was
Exports
1938 $
1037"
purposely left open for Congres- stopal bargaining.
All agree that payment of the
$
full $1.29 an ounce is unthinkable. 467.322.721 and that the Bill will never be Treasure 188.123.656 395.236,524 enacted unless modified.
pared with 1937, and by 30.6 per Merchandise 511.902 277 cent, 113 compared with
1938
whlist exports increased by 9.5 per cent, as compared with 1937, and by 45.9 per cent..as compared with 1936.
Total: 700.025,933 882,549,245
of the total declared imports of
MINIMUM WAGE IN TRINIDAD
In terms of sterling value im-merchandise into the Colony cur- PORT OF SPAIN. "Jan. 22 (Rey- ports of merchandise increased by ing. the year, 1938. China accounted ter-The Trinidad oll arbitration" 0.3 per cent. In 1938 as compared for 37.7 per cent. as compared with tribunal has handed down a com- whereby the with 1937 and by 34.0 per cent as 34.2 per cent. in 1937: United King-promise decision compared with 1935; whilst exports increased by 10.1 per cent. in 1938
The estimated increase in cost as compared with 1937, and by 43.4
Stam 5.9 per cent as compared to the of companies is estimated per cent as compared with 1938.
Total movements of treasure with 3.7 per cent.; Germany 6.3 per at £100,000 annually. amounted to $197.7 millions in 1938 cent. as compared with 5.0 per as compared with $71.8 millions cent. and India 1.9 per cent. as In 1937 and $2:8.5 millions in 1938: compared with 1.0 per cent. imports accounting. for $9.8 The following countries showed millions as compared with $388.4 declined shares of the import millions in 1997 and $727 millions trade:-Japan from 9.4 per cent. In to 3.0 per cent. In 1938: In 1936, and exports $188.1 millions 1937 as compared with $395.2 millions in Netherlands East Indies from 7.6 1937 and $143.8 millions in 1938. per cent. to 6.8 per cent.: French
dom 9.1 per cent. as compared with minimum wage is increased from 3 7.8 per cent.: U.S.A. 3.8 per cent. shillings to 44 pence dally. as compared with 6.4 per cent.:
Indo-China from 6.6 per cent. to 5.6 per cent.; British Malaya from 1.5 per cent.. to 1.2 per cent.: Aus- tralia from 2.2 per cent. to 2.0 per cent: Belgium from 1.8 per cent. to 1.0 per cent.; and "Other Coun (Continued on Pare 13)
*
No change is anticipated in the Government's attitude to Ger- many's foreign indebtedness, in- cluding the Dawes and Young leans,
TWO MORE OFFICIALS DISMISSED
Dr. Dreyse and Herr Huerse, res- pectively vice-president and direc- tor of the Reichsbank. have also been relieved of their posts.
Herr Rudolf Brinkmann, of the Ministry of Economics, succeeds Dr. Dreyse.
SLAP AT US.
WASHINGTON, Jan. 22. (Reu ter)-Herr Walter Funk's ap- pointment as President of the Relchsbank is termed by high department official here as a "slap at the United States."
B
Other officials said that Herr Funk was "noted for his animosity towards the United States."
REFUGEE TALKS
BERLIN, Jan. 23 (Reuter)--Mr. George Rublee, director of the In- ternational Refugee Committee. stated yesterday that negotiations- which had been carried on with not Hjalmar Schacht had broken down but would be con- tinued with the ministerial direc-
Dr.
tor Herr Wolthat, who has been specially delegated for the task.
Mr. Rublee left or Paris fast night to consult the chairman and the vice-chairman of the Inter- Government Committee and will return to Berlin early this week.
لا
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