1933-10-24 — Page 5

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THE HONGKONG

UNWORKABLE POLICY?

ORTHODOX ECONOMISTS AND BANKERS CRITICAL

Now York, Oct. 23.

OBITUARY

MILITARY HISTORIAN DIES IN CANNES

Oanhos, Oct. 25, The death of Sir John William

BANDIT STAND'

"GOVERNMENT TROOPS CONTINUE ADVANCE

Peking, Oct. 23. In the opinion of orthodox

Advancing from three directions, economists and bankers, President Fortescue, here to-day robbed Bri- Roosevelt's monetary policy, na bain of one of her foremost mill-the Government forces in the Luan- broadcasted, may be summed up tary historians. The noted writer tung area are closing in on Funing,

died Zollowing an as utopian and unworkable.,

operation where a foroo of about a thousand The New York Timea states that Reuter. leading financiera consider the President's plan as an unprecedent od thing and one completely at variance with the established mone tary precepts. .

Sir John was born in the year bandits under à minor chief is 1859 and was the fifth son of the preparing to make a desperate third Earl of Fortescue. Ho, was educated at Harrow and Trinity stand. Advanco guards of the College, Cambridge, and upon special police have already renched complotion of his education was the lower slopes of a mountain east appointed private secretary to the

Other economic experts suggest that President Roosevelt is alming Governor of the Windward Is of Funing. The lower slopes have at an elastic dollar, manipulated landa, later holding a similar post boon cleared, but 100 outlaws are by the Government by purchasca in New Zealand. Concluding his

and sales of gold at predetermin-services there he returned to Eng-belloved to remain entrenched on od prices, to counternet fluctuations land where he became an officer the summit and are ready to soli In the general price level. In other of the Yeomanry and took up the their lives dearly. words, they believe he is planning study of the exploits of the Bri-

a "commodity dollar" with a vir-

tish Army.

The Chinese press reports that tually stable purchasing power. In 1895 ho published a "History the authorities are employing con-

Bankers are most sceptical as to of the Seventh Lancers" and later

the practicability of controlling a work on "Dundonald" as well as ciliatory methods but are showing the general price lovel Thoy the "Story of the Red Deer," and no weakness when their offers are, Cavour control of the foreign ex-The Drummer's Cont." During refused.

chango value of the dollar but are this time ho. hot boon gathering

surprised by the selection of the material for the work which waB Under the leadership of ♫ Reconstruction Finance Corpora to make him famous, a detailed his woman, a force of 1,000 bandits is tion as agents instead of the Trea-tory of the British Army compria-

tcm.

Bury or Federal Reserve Bank sysing some thirteen volumes. This reported to have assembled át task took him noarly thirty years Taslyu, 10 miles north of Hupljou,' According to the Washington to complete and the financial where General Fang Chon-wu ro- correspondent of the New York turn was so wretched that hnd it

Times, the price of gold must be not been for the patronaga of King cently made his headquarters. The fixed at about $40 an ounce if Pre-Edward it la doubtful if it ever bandits are stated to be massing sident Roosevelt aims at achieving would have been completed. for the purpose of attempting an the 1926 price levels.

In 1906 King Edward appointed advance south.

Some quarters prodlet that the him librarian at Windsor Castle) Immediate effect will be an increas-and Dopaty Keogor of the Royni

A dotachment of special police

cd gold price abroad and a drop Archives and inter King George, has been sent to nip the trouble in In the dollar in relation to other upon his ascension to the throne the bad, while strict precautions currencies.Reuter

retained him in these two offices. are being taken in Hualjou. Ho was also given lectureships in

LONDON'S REACTION.

Bankers Interested But Non-Committal.

Oxford, Cambridge and London: Universities. When In March,

Whore la Fang?

The mystery of General Fong 1980 the Inst volume, bringing the Chen-wu remains unsolved. history up to 1870, was completed,

Somo

no other army in the world had reporta now hint that the rebel leader was murdered by unknown anything approaching so full and agsassins. concise a record of its doode.

London, Oct. 23. London bankers are following President Roosevelt's monetary

John Fortescue was knighted However, soldiers of his former plan with interest but are adopt- (K.C.V.0.) in 1928 and in 1931 command who arrived here yester ing a wait and see attitude before created a highly furor by his day declare General Fong is still commenting. They observe, how criticism of the Earl of Ypres alive. They maintain he did not ever, that the success of the cx- Book, "1914," Bbating that he had arrivo in Tientsin but cut off his poriment stands a fifty-fifty chance never encountered such a lament and recall Mr. Montagu Norman's able work and that the most chari-beard in order to avoid detection, recent remark that a new situatable view of it was that it was and is now on his way to Canton, lion is developing in the United written by a monomanfac. Sir for the purpose of resuming his States every day, hence no wise John was a great admirer of political activities. man could safely predict the fu- Smith-Dorrion. Lure-Reuter. ¿'

ROOSEVELT PRAISED. Action May Mean Stabilisation Of Silver.

This

Some circles here, however, be lieve that General Fang is now definitely in Tiontain, where they ignored silver, but since gold and assert he arrived secretly in dis silver are usually mined together, guise, after hiding for several days the rising gold price, they believe in a village near Tungchow. will aid silver!

Iversion claims that the defeated New York, Oct. 23, Senator Thomas, praising Pre-general travelled from Tungchow The Secretary of the Montana sident Roosevelt's statement, added to Tientsin on a slow train and Silver Association said to-day that that silver's turn would come and thus escaped detection. President Roosevelt's gold, policy "by our own action." should indirectly aid silver and Mr. Montferry, ex-President of might ultimately stabllise both the American Silver Producers' Gonoral Chi Hung-chang, who is Association foresees an improve anxious to visit Cuba, is reported dis- ment in silver and oven envisages to have already left Tientsin for an

unknown destination-Reuter. Presidentit as the primary money.-Reuter.

metals.

Nevada mining men appointed that the

are

KE

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