1931-01-15 — Page 1

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"Hongkong Telegraph"

Sir The South China Móraing. Past,” Lid,

- 3 & 3. Wyndham Straat, Hongkeng

The

Dollar on Demand:--11%. Lighting-up Times:----6.00 p.m. High Water:7.2 pm

cym Walber-0.13 p.m.

Library, Supreme,

Hongkong Telegraph.

THAT

****** 0 WKTAix

HONGKONG'S SILVER

SOLUTION..

THURSDAY, · JANUARY 15, 1931. At#A~+ sinal PRA*XN

$36 AYNUM

FRENCH DECISION SENSATIONAL F. A.

ON GOLD.

CUP RESULTS.

MAY INTENSIFY FLOW FROM ARSENAL TRIUMPH AT

LONDON TO PARIS.

ADOPTION OF THE GOLD UNEXPECTED ACTION.

BASIS QUICKLY.

Paris, Jan. 14. The Bank of France, which has hitherto only accepted gold bullion of a standard fineness of 995 per mille, has decided in future

of gold of t standard fineness of 900 per mille and over.

LOCAL BANKER SEES NO VALUE cept all ingois

IN WAITING FOR CHINA.

DOLLAR GOING LOWER.

THE

THE SHARP break in the dollar quotation this morning may be accepted as a warning of still worse to follow, according to a local banking authority, who, interviewed to-day, stated that the dollar is likely to get much worse before it gets better. The low records achieved last week do not represent the bottom mark, unless something unforeseen occurs very quickly. In very definite and emphatic terms, the opinion was expressed that the time had undoubtedly come when Hongkong's currency should be placed on a gold basis. Not for years, if ever, may silver be restored to its former value, while a continuance of existing conditions for any length of time would be ruinous to most commercial undertakings.

+

Measures such as. the imposition of a duty on silver would be too troublesome and would cause confusion, but there is little to prevent Hongkong from adopting a gold basis. The banker added that Hongkong should do so at the earliest opportunity. Waiting for China would do no good. It might do a great deal of harm.

AMERICA'S PART IN THE CRISIS.

A further fall in the value of the loss than Q2015 dollur. nor dollar, which dropped heavily this more than one morning. was foreshadowed by They were

Ther

of

thousand dollar. redeemable in gold foul bankinguthority, in an in-or sliver at the option terview to-day.

he Secretary of the Treasury; this Referring 10

arengation discretion, however, had to be guld- levelled by Verlen ainst the d by a declaration expressly made British Government, that it was al-in the Act that is the estabilsh- lowing the authorities in India to ed policy of the United States to sell silver in the markets, thus de- maintain the two metals on a parity with each other upon the present preclating its price, we were told:

"The value of the dollar dependsgal ratio, or such ratio as may be on the price of silver, and the al-provided by faw."

the American politi-f legation by cians that. Indin is selling silver is quite untrue. It is not Indin which is pushing down the market price, but the Americans themselves.

U.S. Exports To India!

Gold Basis only Hope.

This means that the Bank of France will now accept gold of the standard fineness adopted by the Bank of England namely 916.66 per mille.

All gold sent from London to France at present must be refined, involving delay and uncertainty.

The immediate result of the change may be to intensify the flow of gold from London to Paris. but the opinion is expressed that gold movements may be regularised in due course,--Reuter.

The above development is some. what strange in view of the fnct

VILLA PARK.

:

NOT A SINGLE VICTORY BY A HOME TEAM.

MYSTERY SYDNEY

COFFINS.

"TUNG WAH HOSPITAL” ON

THE SIDE.

www.

CENTK

LOCAL BRANCH.

Padder

ONE SEAT PREVENTS SETTLEMENT.

FOUND ON THE BEACH DRAMATIC BREAKDOWN

AT CONFERENCE.

Sydney, Jan. 14.

A number of Chinese coffins have been washed up on Beaches near Sydney and there is much

regarding the significance of the

FOUR MORE RE-PLAYS. "peculation among local Chinese HINDU-MOSLEM AGREEMENT: SIKHS

One of the coffins bears an inscription in Chinese, which traur- later shows the Agures. "87 87" and the words "Tung Wah Hospital. Hongkong. "Reuter.

happening, London, Jan. 14. Some thrilling football was witnessed to-day in English Cup replays in different parts of the country. Eight of the nine matches drawn on Saturday were re-contested and, rather extraordinary, not a single club that managed to bring about a ground was switch to its own able to win before its own sup- porters.

As a matter of fact, four teams won away from home and further [replays will be necessary in the

other four.

The finest performance of the Cute candy was that of The Arsenal, who qualified to meet Chelsen at Stam- CHINA'S ECONOMIC

ford Bridge on January 24, by defeating Aston Villa by three PROBLEMS.

goals to one at Villa Park,

Lengue of Nations Invited to Send Expert.

SECRETARY'S REPLY.

Geneva. Jan. 14. The Chinese Government hax telegraphed to the Secretary-General of the League of Nations, suggesting that Sir Arthur Salter, Director of the Economic and Finnce Section, visit China to disense questions relating to the effect of the present world depression on China's ponomic activities.

Government The Chinese aisa suggests that Mr. Robert Hans,

Director of the League's Communications organisation, visit China to discuss the problems of China's inland waterways. and land reclamation.

The Secretary-General has repiled that the invitation will be submitted to the League Council at its January Session-Reuter,

VELIKANDARASI DAZURE ATENTARE ZUILLA ANTENNELSENEWaze

Discussing the future of silver that only two days ago the French and its value, we were told that takFinance Minister, in an interview, ing the long view, the price of defended France's monetary policy silver must fall further. To what and declared that the Government levels, no one could say. "It is not

were taking steps to mit the influx of gold.

THE DOLLAR.

"There is supposed to be ten mil lion ounces of silver on the waterSAMENANGCHANTERATTAL BERPELSIIT: from Amerien to India at preseni. The production of silver from the mines is about 200 million ounces. if which 50 millions is used for film- making, and this is increasing, and about 25 millions for the Arts. For cuinage practically nothing is used at all. As a matter of fact the Bank of Mexico has issued instrumeæcume tions for the withdrawal of top mil-

Another successful London club Brentford, of the Third Division, who Knitched

Was

* at Cardiff,

2-1

City conceded two goals to Sheffield United in a bright game. Torquay had a sad experience against Bury at Torquay, the Second Division side belng well held up to 90 minutes, but obtaining a winning goal in extra

time.

Bradford City held Middles- brough to a draw, Reading and Crystal Palace failed to reach a decisive result, and Charlton again proved good enough for West Bromwich Albion,

These matches, together with that between Manchester United and Stoke City, will he played on neutral grounds next week, mpat probably on Monday.

A number of league matches were also played to-day. Bolton winning over Liverpool in the First Division. Two London clubs

the T

Third Division (South) were defeated on foreign Boll..

The mystery, if such exists, can only be cleared up at the Australian end, it being fairly obvious that the Tung Wah Hospital, Hongkong, was the destination and not the place of origin of the coffina

The message does not say whe- ther the collins were empty or otherwise. It can only be assumed that the existence of an address is evidence that the coffins were went to Hongkong to be placed in

malam FRIMZINNAKIKIR

BIAS BAY PIRATES CAPTURED.

Hsin Ming Victims Sold To Be Rescued.

GUNDOAT'S GOOD WORK.

Canton, Jan. 15. According to information which has reached the Government by wireless from Bina Buy, Chinese gunboot on patrol there has aucceeded in capturing three pirate Vessels.

Twenty pirates were aboard these boats, together with four Chinese who are believed to be the three passengers and compradore kidnapped when the China Merchants 8.8. Iisin Ming was, pirated.

REFUSE TO GIVE WAY.

MOSLEMS' NEW OFFER.

THE FLUSIVENESS of the solution to the minorit differences at the Round Table Conference wi dramatically demonstrated yesterday. Everythin pointed to a satisfactory settlement. Sir Muhamme Shaft made a new offer on behalf of the Moslems whic elicited a conciliatory reply by Dr. Moonje, and whic seemed certain to end the controversy.

Th

No agreement was, however, reached. Moslems and the Hindus settled their own probleme but the Sikh community became involved in the mattei and the Sikhs refused to give way on one point. It i understood that the question of only a single seat i the Punjab caused the breakdown,

Having been so close to success, however, it is inconceivabi that the efforts will not be pursued vigorously. The outlook": definitely brighter than the discussion in the Federal Strochii Sub-Committee gave reason to expect.

SO NEAR AND YET SO FAR.

Landon, Jan. 14. proposed to set up there were sud A renewed effort to settle the that the Moslems could hope. Hindu-Moslem problem was made secure only one sent, namel to-day when, in the Minorities Com- Dacca University. In the Punja which the Prime they might conceivably secure të mittee, over

fresh offer of the special constituency seat Minister presided, a was made by Sir Muhammed Shaft in which case they might have

one. on behalf of the Moslem delegation majority of

Sir Muhammed Shafi said it wi On the proposal of Doctor Moonje, the Hindu leader, who described it the Moslom's final offer, and the ny showing a spirit of accommoda-could not possibly agree to a

greator sacrifice than it involve tion, the committee ndjourned KERITINERALATAN KALUCIANCUNUNINAçcmogen while the offer was further con- altered in private by a few of the the Tung Wah Hospital Shelter, leaders of either side,, with the ins is customary when Chinese die Prime Minister presont as Bradford C. Arsenal

abroad.

The results, as cabled by Reuter; are appended:

F. A. Cup Re-Plays,

"Middlesboro Aston Vilin Cardiff York City Manchester U. Charlton *Reading Torquay

1

3

1

Brentford

2

Shefeld U.

Stoke City

1

Crystal Pal

3

West Brom.

Bury

2

After extra tine.

The revised draw follows: M. Martin, in making this ac- | Crystal Palace councement, added:-To-morrow,

or Reading V. Everton.

in order that the Government's Middlesbrough or dotive net to adopt a financial To-day's demand quotation-palley dominatedly egotistical, its Opening

ends may became even plainer. We 11

may hope that with the collaboro- 10.15 a.m.;

Lion of the Bank of France ......... 113⁄41⁄21⁄2d

notable improvement will be effected ly a monetary settlement between the London and Paris Markets.”.

lion pesos. about five millions the actual production of allver from dollars, in order to help to improve the mines that is the trouble, but the International Exchange.

the by-product silver which is sold

"Further indication of the trend so very much cheaper."

of events is shown in the decision What Is the solution for Hong- of the Persian Government to kong? The only solution is the abolish silver rupees as legal tender, adoption of the gold bugis, and as from April 1, and to make a new muškre the rest of Chinn," coinage."

American Loan "All Bunkum."

Our representative asked-for an opinion on the scheme for the stabillvation of the thel to solve

QUAKE SCARE IN MEXICO.

The

China's problem, as outlined in the Telegraph on Monday, and he was tremors

Bradford C. Bury

ends United Grimsby T. Chelsen Boothport Blackburn or

Walnail Bradford! Helton Wan. Sheffield Un. West Brom, or

Charlton

Watford

v. Wolves.

v. Exeter.

v. Newcastle.

V,

บ.

Arsenal

Stoke or

Manchester U,

v. Blackpool,

V.

Bristol Rov.

v. Burnley,

V

Sunderland.

Notts County.

v. Tottenham,

v. Brighton.

Portsmouth,

Y

T. Wednesday.

v. Port Vale.

It is claimed by the captors that the pirates captured were those who actually took part in the piracy of the Ming.

nin

The coffins may have been wash- ed overboard from a steamer, or from a wharf, no news of a wreck having been receivert.

EUROPEAN DEBTS TO U.S.A.

SIGNIFICANT DEMOCRATIC

A

STATEMENT.

to

Moslem Offer.

coll-

L

Good Reception,

lowed, said he had listened to

Mr. Srinivasa Sastri who a

ciliator. After several hours the offer with respect. He, and son of his friends, believed the di meeting was still continuing.

ficulties to be capable of setti ment and had, indeed, been mo: or less settled in regard to ti When the Committee met, Sir greater part of India and remaini Muhammed Shaft recalled that in only in Bengal and Punjab. the previous negotiations certain This offer WOR one which approaches to an agreement had seemed to him and his friend been made, but it was over the might be accepted in these t representation in the Punjab and Provinces.

He pointed out that the no Bengal-where the

Moslems are]

in the majority--that a failure had settlement of the Hindu-Mould problem imparilled the whole wor occurred.

of the conference. He was now authorised by the

Mjjal Singh said the Sikhs couf Moslem delegation to make an in no case accept less than twent

New York, Jan. 14. offer that the Punjab Moslems four

por of representation

cent. should have, through the comthe Punjab Council, statement in regard

Mr. Mitter feared the off Europe's debts to America, con- munni electorates, forty-nine per sidered significant as the speaker cent. of the entire number of the would not lead to peace in Beng in the whole House, and and for that reason he consider Intends to stand as the Democra- should live liberty to contest the it unacceptable.

Beats

ed

tic candidate for the Presidency special constituencies which it Nath Winda, o delegate - fro In 1932, was made to-day by Mr. was proposed to create there. the Punjab also pointed out th Albert Ritchie, Governor of Mary- In Bengal, the Moslems should the thirty-two per-cent. proporti land, In his inaugural address. Chave, through the communal of his

Peru would be redu to having twent by the Mr. Ritchic said: "The coun-electorates, forty-six per cent of seven per cent. representation. Matches to be played on January tries of Europe are our debtors, the representation in the whole Doctor Moonje the

and we won't prosper if they are House and the right to content the Mahasabha leader, expressed prostrated. Our economic pro-apcetal constituencies there, - aure at the spirit Inspirtuz gress involves helping them, and i

offer and

continued the time is near when further:

thought an accommodation consideration should be given to

Brentford

Barnsley

Birmingham

24-Reuter.

The league matches resulted:

First Division.

0

PECULIAR PHENOMENON WITH COLD SNAP,

Mexico City, Jan. 14. In answer to an enquiry regard.

sharpest earthquake in the suggestion of an increased

2 Liverpool experienced "hera Bolton, W. VET duty on silver in India, we were in told "The only redemption for threw the city into great confusion Third Division (South).. formed that it was an unfounded China lies in the gold basin, and late this evening. The tremors Exeter

3 Fulham rumour, though its cfrealation was there is no reason why Hongkong lasted for over two minutes. Bristol Roy. 3 Q. P. Rangers the reason for the recent slight in-should not go on the same standard. The population' ran into the

We have now got sterling and treis atrepte, expecting

Third Division (North), crease in the value of the dollar.

buildings -to as important factors to take into collapse. A prouitar yellow light As for the American loan to consideration. Adopt the gold was seen in the sky, accompanied

informant, basis, and we shall be just the same by flashes of lightning. "That is all bunkum. China hayas Europe and other countries In The disturbanco followed a big got quite enough silver already, the world."

China." said our

and it was only another scheme

to push up the price of silver

and then to unlond.

World Production Incrense,

to

As a signifiennt pointer RA "America has so much silver in the seriousness of the danger of reserve that this would be a method over-production in silver, the fal of getting rid of it. The chief rea-Jowing authentic #gures were not- sou for America getting into this led to us, showing how the produte- position was the substitution of tion of the metal had increased. the "Bland Bill" for the Silver Bill The production in the United. of July 14, 1890. By that Aet the State of America for July and United States Government was August, 1920 and August 1930. directed to purchase at the market was: August, 1920, pried 4% million ounces of silver ounces: July 1030, 3,561,000 and bullion per month, and to us August 1930, 8,740,000. treasury notes to payment for theso CanadaAugust 1920, 2,746,0UDT

which were legal tender to any 3,685,000 amount, were in form promises to

5,000,000

drop of the thermometer, which caused intense splù, many roaldents. seeing subw for the first time in thely Hyes-Reiter's American Service:

CHILEAN NITRATE-

•

COMBINE.

AMERICAN NEGOTIATION:

Wrexham

4 Doncaster...

CAPT. CAMPBELL'S ATTEMPT.

IN NEW ZEALAND IF ANY U.S. DIFFICULTIES.

21 the status of our international

o

debt."

The Governor also attacked high 1 tariffs and donounced Prohibition.

--Renter's American Service,.

PRINCE'S TOUR TO S. AMERICA.

TO LEAVE WITH BROTHER TOMORROW.

Weightage Plan.

that

Ple

In so far as the Minority Pro-last within sight. He suggest vinces were concerned, the Mos that the committee adjourn lens should continue to enjoy the that a few representative memb weightage they had at present, on each side, with the Premier

conciliator, should considor. through separate electorates, situation privately, similar weightage. to be given to the Hindus In the Sind and the Bikhs in the North West Frontlor Province.

Si Lateri The private meeting attam ing to settle the minorff problem falled to reach agreement. It is understood i disagreement”was reduced the narrowest possible mar namely, the question of one, In the Punjab: Counell,“

ed between the Hindus;and Moslems and - delegates f senting both, communiti one time Joined in makin -appeal to the Sikhs, who

éver, -refused to give way; Hindus Prior Suggestió As reported earlier,

If at any time hereafter, he added, two-thirds of the represen- Latives of any community in any Provincial Legislative, Council or in the Central Legislative Council desired to give up the communal alectorates and to accept jointtually an agreement was olectorates then, thereafter the London, Jan. 14. system of joint electorates could H.R.H, the Prince of Wales, who come into being in that particular will embark for his South Ameri-Provincial or Central Legislature con tour at Santander on Sunday the case might be. will travel to Paris on Friday, ac

The Princes will fly to France

London, Jan. 14. Captain Malcolm Campbell, loft Southampton to-day on his pro- fected attempt to break the world's Iand speed record on Daytona SUCCEED.

Beach in the twelve-cylinder 1,400, Santiago de Chila, Jan. 14. horno-power car, Bluebird. The Minister of Finance has Before sailing with his car and companied by Prince George announced that the negotiations mechanics, he entled to the Ameri

Results of Proposal.

result of the proposal in would be that the Moslems

purchases. Tliese treasury notes, July 1980, 2,100,000: August 1980 in New York for the ostabllahmont (ean "Automobila Association:-"If i in' the morning. if the weather is dold remain, in a permanent Minister 'last night met th World Output.-June 1929, 17., of a $500,000,000 nitrate combino any difficulty, in United States fine, otherwise, they will leave by miñority, although they constitute] Khan, Sir Muhammad- BH” 18.207.000 have been successfully completed. Chsil proseed New Zealand".—|train in the afternoon-Britisk, the majority of the population. Mr. Pinnish, wha skronisk veden

pay cofn on demand, and were Inau- 802,000: May 1980,

In denominations of not June 1990; 18,607,000.

-Reutervista

| British Wirelmon.

Wireless

The special constituencies it was Fan(Continued FOS P