1932-12-15 — Page 21

Hongkong Telegraph 港電新報士蔑新聞 All

COMMONS WAR DEBT' DEBATE

(Continued from Page 1.) European debtors £1,300,000.000, and from Russia £650,000,000. Against that, Britain's debts to the United States, together with accrued interest at that time, amounted to £700,000,000,

THE HONGKONG TELEGRAPH.

THURSDAY. DECEMBER 15, 1932.

RECTOR AND PARTY COLONIAL OFFICE NEW ATLANTIC FLIGHT|

OF FINANCIERS

PARIS VISIT IN TOP HAT

AND FROCK COAT.

A village clergyman who stated that he was drawn into a circlo of financiera and loaned or invest- ed £6,000, spent his 74th birthday underwent public examination at Northampton Bankruptcy Court. FUNDING AGREEMENTS,

He was the Rev. Henry Hooke Mr. Chamberlain then reviewed the U.S. funding negotiations Newport Pagnell.

Bartrum, Rector of Lathbury, whereby a remission of the debt was obtained amounting on a bals

VISITOR

SIR SAMUEL WILSON ARRIVES

TWENTY MACHINES

TO TAKE PART

Rome, Nev. 11.

laurels.

E RADIO BROADCAST

MUSIC

From 2.B.W. on wave-length of

6-8 p.m. European programme. 6-6.25 p.m. A Selection of New

Fox Trois-The Night When Love Dance Tunes.

Was Burn.

The Air Minister, General Bai-PROGRAMME OF RECORDED PURELY INFORMAL do not intend to rest on their bo, and leaders of Italian aviation,

Another mass, transat- Brig. General Sir Samuet II. Iantle light is to-night ofetally 365 metres (815 k/c). Wilson, G.C.M.G., K.C.B., K.C.M.G, announced as part of Fascism'a State for the Colonics, arrived in of the Fascist regime, Permanent Under-Secretary of programme for the eleventh year Hongkong this morning aboard the P. and O. liner, Ranchi. Accom-when General Balbo led a flight of The December, 1930, record. The statement of affairs actual-panying Sir Samuel Wilson were twelve of five per cent. Interest, to 28 ly showed a surplus of £1,028, but Lady Wilson and Mr. G.E.J. Gent. Southern Atlantic

machinca herois the per cent. of the original figuro. this was contingent on the value .S.O., M.C., of the Colonial Office. Janairo, is to be outdone. This to Rio de Britain also carried out funding of certain Dutch Bonds

If You Were Only Mins Mino, about Interviewed, Sir Samuel, sald hla time the youthful General will

Leo Reisman and His agreements with her debtors,, the which considerable doubt Italian debt, on the same basls, raised.

was visit to Hongkong was not an

Orchestra. 24047, official one. He came merely to machinea and reserves to North

take a mass formation of twenty Fox Trot-Play That Hot Gultar. being scaled down by 86 and the

Ted Weems and His Orchestra. French dobt by 62 per cent.

ing route:

Bernie Cummins and His Rome-Holland, the

Orchestra. 24063, North Atlantic (via the Green-Fox Trot-I'm Yours for To-night. land route), Canada, Chicago, and Fox Trot-Over the Week-end. then home via New York, the Bert Lown and His Orchestra.

Fox Trot--As You Desira Me. Fox Trot-The Lady I Love.

Ruso Colombo and His

Meanwhile, reparations had begun a downward path, and 1925, by the Dawes Agreement,

Mr. Bartrum stated that he had a son who, while resident in Paris, became one of a party of financiers

who formulated number

ace the place, at the suggestion of America and back by the follow. / Fax Trot-Deep Sea Low Down

wore brought down to a capital schemes, one of which was to buy cuss anything of interest with the North Atlantic, and no to Rome. Hability of about £2,000,000,000 up a group of hotels in Paris. payments at first being made with out dimeulty, as the United States wore lending large Europe,

aums

a top hat and frock coat. ·

to £1,600,000,000. Even that was no good.

ed.

In 1931 It became clear that Germany was heading for bank- To have paid in full and ruptey, and in June 1931, President nothing would necessarily Iloover proposed " moratorium suspending for one year all inter-; governmental debts, and, by plication, he recognised the exon hetween war, debts eparations.

Bald

trade with

the Secretary of State for the Colonies,

"Although my visit is purely informal, I shall, of course, dia.

Governor," he said. "I have been They invited him to Paris and in Malaya for the past month In were emphatic that he should wear connexion with the enquiry on

Subject to further study and al- teration the official transat ntle decentralisation. This has A finance company was formed been completed, and I am now cry-engo will follow that taken this now and trans-American route to Chi- under the name of his son with stallising my thoughts before lay summer by WALL STREET CRASH

offices in London, he said, and heling the whole situation before the Captain von Gronat.

the German flyer After the crash on the American directors and became the chair-be decided until my return to Eng-publicity purpose: firstly to In-

afterwards joined the board of Secretary of State. Nothing will The project has Stock Exchange In 1929 and the man.

a twofold withdrawal of short term credits

land, and everything then depends crenne abroad the prestige of Asked who was the secretary of on the Government." granted to Europe, it was that reparations were too high, know but he thought it must have Samuel said that he did not know stimuate American

seen the company he said he did not; In reply to a question, Sir Italian machines, and secondly to Fascist Italy, Italian aviation and and by the final settlement, under been the typist. the Young Plan they were reduced

whether any publle body in Hong-Italy. The examination was adjourn-keng desired to make representa

tions to him on any subject.

As a means to this double end. Athe spectacular arrival of Italy'a matter like that, he added, would flying ambassadors on the Chicago be left entirely to the Governor.

water front of Lake Michigan has have longkong, Sir Samuel and Lady of the Chicago World Fair. in During his stay of six days in been timed for the opening weeks

view of a final remission of the Excellency the taken the payment out of the pur-Vilson will be the guests of Hik which the Italian Government has

Governor. Sir debt and would have obliged us at Samuel will then leave for Ceylan, exhibition of Italian products. made arrangements for a striking us at once to inform our Allies that where he will discuss with the Housed in a facsimile of a Roman we expected them to make a corre-Governor the working of the new Imperial temple, the display will In the following month, at the sponding payment to us in respect Constitution, which has now been cost 3,000,000 dollars.

in force for about twelve months, rather a unusual one," Buld Sir

"The now Caylon Constitution la. Samuel. "It is the only one of its

The formation of aeroplanes kind in the world, its unique fen. will leave Rome on its during ture lying in the fact that it promission in June. and the journey vides for the working of the will be made in casy stages as it different departments of the State is a reliabllity and not a

spoed by committeos."

test. According to present ar- al- Sir Samuel had nothing to say rangements, two months aro regarding the Ottawa Conference, lowed for the whole journey from except that he thought it a grent Rome to Rome. advance forward that the Domin- ions and the Motherland have so whole-heartedly adapted the principle of preferential trade. reduced capital eum should be and Lady Wilson will be the guests To-morrow evening, Sir Samuel our debtors must still of Sir Robert Ho Tung at a special discuss with U8 on what len. terms, and to what extent,, wo should be prepared to scale down their debts to us.

con

and

andon Conference, the British Government again urged the old policy of cancellation, but neither the American nor French presentatives would necept."

BEHIND THE SCENES.

re-

in October, 1931, a communique Issued after the Laval-Hoover. conversations stated that prior to the expiration of the Hoover year, some agreement on inter-govern- mental obligationa might be neces- sary covering the period of the business depression, and that the Initiative should be taken by the European powers principal ly concerned.

Garly

Later the United States Government intimated to the British Ambassador that European reparations settle- ment would be the best method of approach with a view tu revision of the war debt due to America.

Owing to the remarkable change in European public opinion. It was possible to achieve at Lau- sanne a success far more complete than had been anticipated. Tha effect was to put an end to the existing system of reparations, for the ultimate maximum labaility to which Germany is now exposed

in respect of reparations is only $150,000,000, instead of £1,600,000,- 000 as it was left under the Young

Plan.

ONLY PROVISIONAL.

But the Lausanne settlement wns only provisional, where as if the United States had been willing to send a representative to Lanaanne, we might have made a final settlement on the spot.

Anticipating that discusalons with Amarlen would begin im mediately the Presidential election was over, requests for payment as between inter-allfed! dobta were -suspended until either the Lau

Banne settlement was ratified, or until it was decided that no ratification was possible, ratifien- tion depending on a satisfactory settlement with the United States,

The negotiations and exchange of notes which followed were next roviewed. In the diplomatic ex- changes, and Mr. Chamberlain, we were given to understand that cash and cash only, would be acceptable to members of Con-

gress.

QUESTION OF EXAMPLE.

If we had declined to pay, it would been equivalent to default, and dofnult by the British Govern- ment for a sum which we could not truthfully nay we were unable to pay would have resounded

of their debts.

The mischief would not have stopped there, because the Alles must have necessarily passed on their request to Germany to begin again the payment of reparations.

It was therefore considered necessary to intimate our in- tention, when discussing a final settlement, to put for ward our contention that the old regime interrupted by the Hoover Moratorium can never be revived.

SAME POSITION.

If in the final settlement

fixed,

some

"Our position stil remains where it was at the time of the Balfour Note. We shall not aak of our debtors more than we are called upon to pay our creditors, but they can hardly expect us be content with less."

NO DEFICIT

POLICE CHANGES MANY TRANSFERS PENDING

The following the Police Force are to take effect

transfers

as from next Wednesday, Decem- jher 21:

Sub-Inspector John S. Dick transferred from Central to Wan- chal.

Concluding, Mr. Chamberlain' said the payment would be made, Sub-Inspector D. J. Dredge from in gold in New York on the 15th. Wanchai to Secretariat for

As to the Budget, he proponed to Chinese Affairs (Boarding House deal with the deficit by having Officer).

recourse partly to lower rates of Acting Sub-Inspector

Not a Speed Test.

On arrival at New York from Chiengo on the homeward flight the route to be followed for the final transatlantic crossing will be then pravalling. decided according to conditions

6.25-6.45.p.m.

24087.

Orchestra. 24070.

"Wand of Youth" Suite No. 1

(Elgar, Op. la).

London Symphony Orchestra conducted by Sir Edward

Elgar. 0470/9472. 6.45-6.35 p.m.

Mischa Elman.

0093.

A relay from the Hongkong Hotel of the Lecture on "Christian Science" by Mr. William Wallaco Porter.

6.35-7 p.m. A Concort. Violin Solo-Souvenir do Moscow

(Wieniawski). Song-Longing for Spring (Mozart). Song The Violet (Mozart).

"Sigrid Onegin (Contralto).. Cello Solo-Intermezzo (Vivaldi). Cello Solo-Serenata Napoletana

(Sambat!).

Pablo Casals. Song-Marta (Gilbert-Simons). Song A Bong of India (Rimsky-

Korsakow).

1556.

1542.

Beniamino Gigli (Tenor). 1676. Piano Solo--Spinning Song

(Wagner-Litzt).

Ignace Jan Paderewski,

7 p.m. Block Quotations, etc. 7.3-7.45 p.m. Variety.

Song--Isn't It Romantic,

Jeannette MacDonald

1540.

(Soprano). 24067. For Trot-Twentieth Century Blues.

New Mayfair Novelty Orch.

24000. Song--The Poor Apache.

Maurice Chevalier (Baritone).

24003.

General Balbo will be accom- panied by the Aying aces. Relli-Song-Lovo Ma To-night. grini and Longhi. Together with Mildred Balley (Comedienne).) other transatlantic aviatora new blood will take part, and it is rumoured that Flight Commander the Duke of Aosta, close relative to the King, will join In the enter prise. The machines will be adapt ed Savola Marchetti's,

24117. Fox Trot Banking on the Weather.

Ted Black and His Orchestra.

SUBMARINE COURT

MARTIAL

LIMITS OF COMMANDER'S

RESPONSIBILITY

24040. Song-Mah Lindy Lou.

John Charle Thomas (Baritone). 1544. Fox TrotHere's Hoping.

Paul Whiteman and His

Orchestra. 24089. Fox Trot-Listen to the German

Band.

George Olies and His Music.

24000.

Song--Mlm).

Maurice Chevalier (Baritone).

Song-Rackin' Chair.

24063.

24117.

Mildred Bailey (Comedienne).

Ted Black and His Orchestra,

A.. T The trial by court-martial of j Interest on Treasury Bills, and Sabey from Secretariat for Chinese Lieut. Du Mesnil for the loss of Waltz Masquerade, partly to funds provided by the Affairs (Boarding House Omeer) the submarine Prometheo conclud- Sinking Fund which are no longer to 'Hawkers' Sub-Department, ed at Cherbourg with his acquittal required by statute, owing to the Police Headquarters.

on all counts.

rise of gilt-edged securities, but Acting Sub-Inspector W. Armitt At the time of the disaster the payment from it could not be from Hawkers Sub-Department, submarine, which was undergoing repeated, and any further pay- Police Headquarters to Sheung trials, had 22 civilian workmen on ments would have to be found out shul. of current income.

board, and though nominally un- Sub-Inspector s.

Shepheard der the command of Lieut. Du from Sheungshui to Gough Hill. Mesnil was virtually in charge, as Sub-Inspector W. R. Chestor always in such cases, of the con- Woods from Gough Hill to Cen-tructor's engineer. tral Police Station.

In the present, conditions, all were desirous of making a final satisfactory settlement with the Unked States, in the Interests not only of the two countries but of the whole world. I was equally im- portant to save the Lausanne Settlement. Upon the pre- servation of that settlement most depond the continuance of harmony among the Eur opean nations and, largely, the stability of security of the Annncial situation of a siderable part of Europe,

сода

Song Gwine to Hebb'n. 24040.

Jahn Charles Thomas,

Fox Trot-Three on a Match.

(Baritons). 1544.

Paul Whiteman and Elis

Orchestra. 24080.

7.45-8 p.m. From the Studio.

An appeal for the St. John's Ambulanca Brigade.

8 p.m.

Local Time and Weather

Police Sergeant Ritchie from The accusation of incompetence Report Central Police Station to Hawkers' maintained against Lieut. Du Sub Department (Yaumati). Mesnil by the prosecution W13 8.3-9.15 p.m. From the Studio.

Sergeant Madgwick from based on the fact that the oil pres- Hawkers' Sub Department (Yau- sure system which works the div. John's Ambulance Brigade by Mr. Ip An Appeal in Chinese for the St. mati) to Central on regular duty. log apparatus was known to be Kwai Chung..

Police Sergeant Nolloth to defective, and that the commander Criminal Investigation Depart- should In consequence have taken ment (Wanchal),

special precautions. Sub-Inspector C. R. Rozeskwy The defence had no difficulty in from Criminal Investigation De showing that the defect in ques- partment (Wanchal) to Criminal tion was a structural mattor con- Investigation Department (Taalm-cerning the work at the dockyard, shatsui).

and could not implicate tho

rc-

It was only by a policy of frank- Sub-Inspector A. H. Elston from sponsibility of the commanding neas, sincerity and loyalty that Criminal Investigation Department oilcer, who had, morever, axpress- we could hope to obtain the co- (Taimsbataul) to Secretariat fored concern about the oil pressure, operation of other nations in Chinese Affairs (District Watch- restoring the vanished prosperity men's Department) vice Inspector and been reassured by the on-

F. Shaftain who is going on leave. gineers.

of the world.--British Wireless.

DAY BY DAY: NEWS IN BRIEF

SINIUS MAY BE LARGER THAN THE

around the world and might been SUN, BUT HE DOES NOT RIPEN OUR taken as a justification for other | GRAPES-German saving. defaults in other circumstances.

As a Recond alternative, we A very enjoyable dance was held last night by the Central British

Effective wall calendars are to hand from Mesare. A. S. Watson and Co. and the Colonial Dispensary.

Goethe The Thinker"

Mr. W. C. Felshow will spent on weekly pubille lecture of the Hongkong at the usual Lodge, The Theosophical Society, to day at 0 p.m.

1932-12-15 — Page 21

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Private Research Note