THE HONGKONG TELEGRAPH,
SATURDAY, APRIL 30, 1927.
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SHANGHAI,
LONGKONG.
MR. MELLON ON WAR DEBTS.
BRITAIN GETS MORE THAN SHE PAYS?
Mr. Mellon, the Secretary of the United States Treasury, has nd- dressed a polite but severe rebuke to the professors of Princeton Uni- versity, who, inspired by their col- lungues of Columbia University, recently issued an eloquent appeal for a reconsideration of the Amori- can war debt policy.
He expresses surprise that pro- fessors, who, as economists, his- toriams, and teachers of govern- ment; might have been expected to refrain from publishing "conclu- sions not supported by facts," should have neglected before mak ing their appeal to "make a thor- ough and first-hand investigation of the data available at the Trea- sury."
Iis letter occupies three columna of newspaper print. It reiterates all the familiar arguments against cancellation but contains one new argument which links payments made by the Allies with German re- paratious. Hitherto the United States Government has steadfastly refused to countenance any such association, but Mr. Mellon now presents reparation payments as one of the causes which make any reopening of debt discussions, in his view, unnecessary.
More Than Enough.
The frofessors had protested again the policy of debt collection which imposes tremendous bur- dens for the next two generations Mr. Mel- on friendly countries." Jon denies the justice of this pro- The fact is, all our tost, saying: principal debtors are already re- ceiving from Germany more than euugh to pay their debts to the United States. and France, end Italy, with the exception ef this Jer in the case of the latter, are receiving from the same source more than enough to pay their debts to Great Britain also.#
He quotes figures of German pay- menls to show that France, after paying the United States and Bri- tain, will have a balance this year of £16,000,000 and next year 247,400,000. He says:
It is true that in the past two rears Britain has received from Germany, France, and Italy about $20,000,000 less than she has paid the United States, but it is equally true that from this year on Great Britain every year will receive from her debtors a substantial amount more than she will pay us, so that her American payments will not constitute a drain upon her own economic resources.
Mr. Mellon's prime argument in favour of the justice of the settle- ments is that when the United States purchased supplies and ser. vites from France and the British Empire "we paid cash for them," whereas the Allies got goods and services purchased in this country on credit.
Mr. Mellon declared that:
The reopening of the whole question at the present time would do mere to interrupt the steady progress, achieved since the settle- ments than might be gained from any ultimate minor adjustments that can be effected.
PLOUGHMAN AND THE PRINCE.
"I DON'T THINK I KNOW YOU, SIR."
After
ding-dong race the Prince of Wales was just beaten hy Captain James Sherrard in the nomination race of the Belvoir Point-to-Point Steeplechases at Barrowby, near Grantham, оп March, 24.
"Well, we had great fun," said the Prince, as he complimented Captain Sherrard. "We came over the last fence together, and then you beat me."
The Prince rode his bay gelding, Dark Courtier, which had to carry an extra sever pounds in conse- quence of having won the Grena- dier Guarda Regimental race a week ago.
Captain Sherrard, on Mr. E. Stokes'a Kind Knight, won by two longths, and the Prince was the same distance ahead of Sir R. Cruise's Eagle Brook. There were eleven runnera. Half-way round the course the Prince was leading by 100 yards, but Captain Sher- on the rard overtook him and straight run home Kind Knight proved to have better speed.
The Prince had already ridden in the Belvoir Hunt Light-weight Race for the Duchess of Rutland's Cup. Riding Lady Doone, a bay mare which had never been in a race before, he finished fourth in
a held of 16 rùnners.
Before racing began Mr. Milca Hardy, of Grantham, who is 76, and who won the ploughing cham- pionship of all England five years ago, was presented to the Prince. Mr. Hardy, who is deaf, did not catch the Princo's name, and as the Prince gripped his hand he said, "I don't think I know you, Bir." "I don't think you do" laughingly replied the Prince, "but I am glad to meet you and wish you luck."
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MOSQUITOES IN A GRANGE
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Professor J. H. Ashworth, F.R.3., read a paper on "The Distribution of Anopheline Mosquitoes in Scot-
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land" nt a meeting of the Royal Society of Edinburgh, held in Edinburgh last month:
Three species of Anopheles, said Professor Ashworth, occurred in Scotland, ns in England-namely. maculipenales, bifurcatus, plumbous.
eight localities all in proximity to district of Edinburgh was submit- the East Const or to its estuaries, ted to Professor Ashworth for re- but it was to be remembered that,port.
Further examination of this except for the Clyde area, the West was practically unexamined. garden showed that this Anophe The first time this species was de-les was present in considerable and initely recognised. in Scotland numbers, and was brooding in the whs in 1908, when a specimen nelghbourhood, though the actual A plumbeus had been found in caught in a garden in the Grange breeding place was not found
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