1926-07-21 — Page 2

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VALENCIA

Song for piano with ukulele

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"at

ANDERSON'S

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BY

NINA KAMPER

(Doctor of Medicine. Graduate of Gymnastic Institute and Ballet School, Moscow.)

វង

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THEOSOPHY

"TOLERANCE"

The usual weekly puhke lecture will be given at the Hongkong Lodge The Theosophical Society, 7, Duddell Street, on Thursday July 22nd, at 6p. Lecturer, Mr. M. Manuk. The meeting in open to the public.

32

THE HONGKONG TELEGRAPH.

WAR DEBTS:

MR. CHURCHILL'S OPTIMISTIC VIEW,

Li

WEDNESDAY, JULY 21, 1926.

perfectly free to argue the con- trary case-to argue that there was no case whatever for modi fication if they were satisfied that the circumstances ao warranted it, Britain's Policy.

A THOUGHT FOR TO-DAY.

and the sustainment of good health My health is my greatest asset

Bugby, July 19. The House of Commons debate in coming to this settlement at The object of the Government on the French debt settlement this time had not been, as some was initiated by Captain Wedg people had suggested, to make a wood Benn, (Liberal). Capt. Benn desperate effort to save France commented upon the fact that the and other foreign currencies. He Italian debt to this country had hoped the gradual clearance of the been reduced "by six-sevenths and dabt dispute and its passing into that of Franco by three-fifths and

a state of settlement would be a he complained that the Chancellor more favourable factor in the gen- of the Exchequer had taken no eral recovery of Europe, but the steps to urge these countries to British Government had sought to reduce armaments, which were a judge this matter entirely upon menace to the popca of Europe. the basis of what would be in He asked if this was a final settle the best interests of this almost entirely depends upon ment and would it give a stable country, namely, from condition of affairs in France? point of view of what was the best it is wise to always keep at hand the functional regularity. Therefore Referring to the safeguarding settlement that we were likely to clause he said that if Germany de-get and what would conform to

a mild laxative and liver regulator faulted at any time, then the whole our ideas of fair settlement taking such as Pinkettes, for use, when terms of the settlement would be all the moral and material matters necessary, to prevent constipation, re-opened and the

agreement into consideration. Continuing diapel bilions attacks and sick would bring us in as joint credi- Mr. Churchill said it would be tors with France in a political absurd for this country to take headaches, to keep the skin clear. squabble with Germany.

Mr. Philip Snowden, former the settlement between France or post free, 60 cents the vial, from up the position, that everything in and the breath sweet. In short Pinkettes, obtainable at chemists, Labour Chancellor of the Ex-and Great Britain must comes the Dr. Williama' Medicine Co., 60 chequer, declared that Mr. Chur-pond exactly with the acttlement chill in this agreement could not between France and the United Kings Road, Shanghai, are just contend that he was maintaining States. We were quite entitled to the right thing to keep me well! the principles of the Balfour Note vary the conditions as much as we for he was not getting from our liked. The French debt to the Continental debtors a sum which United States on June 15th, 1925, would be sufficient for us to pay was 2827,000,000 and with that the debt which we owed to Ameri- debt were mixed not merely wor debte but post-war debts. On the same date the debt of France' to Mr. Runciman, (Liberal) criti-Great Britain was £557,000,000 cised the letters exchanged be excluding the £53,750,000 of gold tween Mr. Churcill and M. Caillaux held in this country. The pre- regarding the event of a default sont value of the French debat pay- of German reparations. He de- ments to the United States nt" vague and Mr. "Churchill's letter 49 per cent. of the debt. clared that M. Calllaux's letter was 4 per cent was £412,000,000, or The was so little definite that it would present value of French debts pay- bind nobody and gave no guidancements to Great Britain at the same for the future...

rate of interest was £262,000,000,

ca.

:

The Safeguard Clause. Mr. Winston Churchill, replying for the Government, sald that nothing had happened in the de- bate which had led him to feel that there was any large, deep or strong volume of Parliamentary opinion, marshalled in condemna- tion of the course which the Go vernment had thought fit to adopt

or 47 per cent. of the debt. So' that the difference, measured by those figures, between the settle- ment we had effected and the set- tlement which France had effected. with the United States, was as be tween 47 per cent. and 49 per cent., which only varied to the extent of two per cent. Although the Franch debt to the United States, compared with their debt to us,

five

In regard to the question of the was in the proportion of eight to safeguard clause there was a de-five, payment would be made, to mand by M. Caillaux and the Great Britain and the United. French Government that there States as follows:-first should be a definite clause Insert year United States £32,000,000, ed in the Agreement making pay-Great Britain £42,500,000 for ten ment by France to this country de-years; United States. £94,000,000, pendent on the payment of German Great Britain' $105,000,000, reparations: The Government had British Wireless. consistently declined to admit any such clause into the agreement.. One of the reasons why they had scaled down the dobt payment from France to £12,500,000, was in order that these payments should rest on the sole credit of France and should not be contingent on," or directly proportionate to, pay- ments which France received from Germany. He was not going to conceal from the House that they had made a concession on this paint and one which, if all things had been equal, they would rather not have made. But this conces

sion must not be exaggerated nör must an attempt' be made.to draw from it conclusions which were by no means warrantable. "The lettors were, of course, to be read together with the agreement and there could be no question of the Government receding from their responsibilites as described in those letters. The letters meant what they said and the language of those letters had been very carefully considered. Those let- ters undoubtedly gave France the right, if there was a main auspen- sion of payments by Germany ex- ceeding one half, to raise the question of their capacity to con- tinue to pay annuities. But the British Government would remain

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