1948-01-26 — Page 5

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VOL. III NO. 22

The

HONGKONG TELETAPIL, Yor and on behalf of

SOUTH CHINA HORNING POST, LAZA

I thankl

Printer and Publisher

Hongkong Telegraph.

TUESDAY, JANUARY 27, 1948.

NO DEVALUATION OF THE £

KAMBINKIUNE JERRIANNOSŤ SUNETTE RELATTER IN

Radios Powered

By Sun Forecast

26. Mr

New York, Jan. Frank Siantan. President of Columbia Brondieasting System. predk teď findlay that porket radia srts powered by the sun and small enough to fit a pockel would be in the within 25 years. He sat radios" larger than porkri watch and

powered siniply by exposure to mutight alone"

wind bring the

bronzammes of lumetrow,

"T think you can also coun

senting sel

on having per

personal

in entry around In your Declei,

ton." ie Stanton

tel.

"J'an

will be able to make your owł broadcasts--to tell the fatally you will be late for inuer, for example.”—United Press.

ALJONUSTEBATE STATISTA. 242

IRAQI

PREMIER TO

EXPLAIN

Barlad, Jan. 24-Sayld Salch Tabr. The Fragi Prime Minister, manomméed tonight, on his return from Larulon, that he would ex pain fully the clauses of the new Anglo-Iraq teraly And that the vation had the full right in Breept or reject it.

"I appient to the nation to keep peace bod sader indd it unleg tour. the new fronty, and there to pay the last word," he ad in

qpte.

Communi

Declaration By Cripps

TWO-FOLD POLICY

London, Jan. 26,-The British Govern- ment does not propose to alter the rate of sterling in relation to other currencies as a result of France's decision to devalue the franc at its controlled rate and to recognise a free rate.

Sir Stafford Cripps, Chancellor of the Ex- chequer, annotineing tles in the House of Commons. tonight, said he did not believe such a emmter action "will be rendered necessary or advisable,”

Precautions would, however, have to be taken by Britain. "Our policy will be two-fold: to give any help we can to assist the French Government in reaching their objective of a fixed uniform rate at as early a date as possible and, at the same time, to takte such measures as may prove necessary in the in- terval to limit the repercussions on our own currency and many other currencies in which we

closely interested."

Sie Stafford bal that

after i weekend visit to Paris, he had left British technilen) stuff there to work on with the French Government,

which tentions.

the Briti Government anust take.

This

are

atory perinel, part of the convertible currenties voming to Frater should out its Tevel through the operation

market, of the free

avents bent.

|

toi

Stock Exchange

Reacts To

French

Decision

NEWSPAPER CRITICISM

London, Jan. 27.-Government securities broke on the Stock Exchange today, refleefing fears that devaluation of the frane will damage the pound sterling.

חם

The British Cabinet was in emergency session. Investors rushed to "get into gold." The demand forced up the prices of South African gold shares. These shares also opened strong

the Capetown market, indicating belief that, sooner or later, the pound must be cheaper, It is now officially worth four dollars and two cents but has sald down to two dollars 50 cents in uncontrolled markets.

London newspapers, reporting the| The skermum and that while the pound in jeopardy, sadd the break in United States wad "reasonably Government bonda wipend oui i uptimistic" about the terape nations of pounds in market values the | Market entrees attributed this break; sive

to lack of demand rather than Reneral liquidation. There Wasi selloff, however, in early trading.

Must other sections of the London unrket were qulet. Industrials were about steady, base metals and com- modities were fully firm.

would mean that Britain would have Any lowering of the pound's value their to put up more pounds for purchases abroad. That would Imperil the

1.

frane davnhation two mam dangers

propozudy, it

THE DANGERS

French traders exporting

Dino

At the

For

P.G.

Reservationa

BALEZENOVERADAZANAHARUDE FORINTYS K. BANDETINGU BALETASUL

Cold Wave To Continue

Alter touching the 1917. minimum of 38.8 about 10 o'clock last night, the tem- perature gradually rose,

One reading showed the thermometer registering 39.3 degrees. and at 9 o'clock this morning the Royal Observatory reported that the temperature wits 43.

Observatory officials do not expect the weather to become much colder, al- though they predict that the temperature will remain around the 140 degrees level for some days.

2:429119:21:||:|23|AS DENNA BARBERAJAA

KASHMIR DISCUSSIONS CANCELLED

Tal: 27880

Price 20 Cents

Palestine Latost

Explosion Rocks Holy City

British Troops Seize Ammunition Dump

was

Jerusalem, Jan. 26-A large quantity of ammunition acized and 23 Arabs. were arrested when British Air- borne troops raided a house in the Arab quarter of Haifa last night, tho British Military Headquarters in Jerusalem announced today.

The house was described as the operational headquarters of an Arab tang.

Jewish sources reported that one person was killed and 11 wounded when an Arab bus was blown up by a mine between Bethlehem and Jeruzalem today.

A heavy explosion shook the ven- try of Jerusalem todas". spraying part of the business area with de Lake Success, Jan. 26.-Thehris, when a large explosive charge discussions arranged for this went off in

an empty Jewish shop afternoon between the Indian below some empty flats in a burned and Pakistan delegates have been cancelled, the Indian dele- gation announced tonight.

The Irudir delegates were await- ior in Aretions from their govern- tment, it artcted.

Fears were being expressed here today that the rand-table confer in ere which we to have been held the free market gods bought at the This afternoon would have revealed Mielai fixed rate. this evitably | importaál differences In the points causing a new rush of derintutory af view of Pe two delegations. teade restrictions which would ag- The earlier optimism In United Kravate political relations.

Nations circles, that the question of neighbouring

Competitive

pressures 00

plebiscite for Kashmir could "stealing" the export trade.

countries by France preslily be resolved. received some would bring a threat of competitive

other

European

2.

The redunumque followed a four. others who me trading on the bussuch alt of us agreed upon) Labour Government's recovery pro- ! devaluati

hour meeting of the Regent anal the

but at H Hot Patter her, Carber, when the N BUN DE

The Paese returned hope dejar after monday at Partsmouth on dan mery 15 the per laufy wall Prat a... which the Regent for promurod het fo and to the short not turime th

that of the country and the T tional anpiration of bag'

He explonst i tads of the fonds to the meet ust. at wback Casapel tember, at m Jephs, ate zvidends of mufinut the queengd tepNE Etual fundin in trang following but went and Pantei ..LOL. Reuter.

BUS STRIKE IN LANARKSHIRE

Fumerk, auth: Jul, Jan. 20 Huomatad doo, driven stud conductors wen!!

trak towns throughold Labtre

prate negat arantee of their working hans,

Markeup word in hogy en 1 logeen were unable to part to work and paltretion role prens reverely Curioaded.--Jeuter,

EDITORIAL

ww

PROTECTING STERLING

BRITISH VIEWPOINT

hel, the view

that

by

On the other

This rough recent utterance by

and conteming

out commercial, centre.

SHOPS RIPPED APART The explosion ripped open shop fronts and hurled

metal shutters and pieces

into of masonry.

the street but caused no known casual- lies.

Seven Arabs were killed in night attacks near Tel-Aviv. Jewish sources claimed today.

71

Three of the Arabs were killed. turint

Haganah attack with notomatic re and hand-grenades near Yazur, on the main highway outalde Tel-Aviv, and another Arab

lorry driver, was shot dead in the same area, the Jews reported.

Haga claimed to have repulsed an Arab affack In the borderland between Tel-Aviv and Jaffe, and to

have killed three of the attackers. -Renter.

SOUTHERN FRONT Cairo, Jan. 27.-Ahmed Hussein, leader of the Young Egypt Party, said today he would leave soon for the Egyptian-Palestine border "to

tive, he said, will routhern front." The main objee- choose a spot for reopening the

will be Tel-Aviv.

They came to the conclusion that if they accepted any of our saRROE- rontier which we, tips, they would be unable Pour pour didite to the whole of achieve, in full measure, the results The sterling area and to all those for which they hoped from of sterling," he said, “and we must

spokesmen. our freedom to the extreme importance of working gramme. therefore usintati

It sought vably last week countries.

India's view, as expressed by de- tabe any betion which may be found towards a greater economic integr- to have France

here, hon of Westem Europe, the judg-evaluation--Associated Press

Is that - rpiokonees hamper her

The spokesman said that if the Kashmir acceded to India and there " any action that we are em, tuent of the two shlen uptas the effert

devaluationa wap effective in

for in, therefore, every legal right pelled to take, we snak,

Stabilising! of course, that the French action was likely) GLOOMY PREDICTIONS

serious inflation in the presence of Indian Army forces xercise the greatest etur not to add to have differe),

France, the benefit to the European there to maintains law and order, to the difficultas # FALAZ French

Pare, Jan. 26. Leading articles

recovery programme would be post-

PLEBISCITE ISSUE fii more than might prove i7-

in today's

tive. French papers which development of any of the results tweea

hand, the The rerend point of difference he evitable,

do not Dally publish on a Monday about which the Fund

parties is particular, methods which they were, of the devaldation plan made sharp more difffett the successful opera-lo art as a sort of interim povern- the but came out today to give details warned would complicate and muke "null" administration in Kashmir itself had underped to he a question of the for the 16,3ut of captat trop Proposing 'wer of len derislye value criticiz

am! gloomy predictions for them an Thng vomittered, and about the sebeme. Brunnet du contrats speculation or

that the adverse effects

The world will hear moon of a arhatram Jetaegu one curteney

plebiscite.

decisive blow struck by Arabs operation between the frane and The 1fust Frame-Tireur wrote: ard apetitet

While the Indian telestation in par- at Palestine Jews," he added. European NÚ SINGL mate waarenlaser that

currencies, which "France has thrown her stake on

Hussain denial reports that Fawzi likely to use

foelly prepared to have a plebiscite f their the international roulette table and

26-Premier Robert nie Security Counes controk m cetion, were greater than they han: al. Rene Saver is playing the human told the National Assem-arvion, the thould not be laken Arab armies, in Palestine. The or Fry at Kaukji, Commander of the Lillemagne abend

espinalist

with Kame interter with the proje als of Miraminted:

preciso | today "that"the devaluation "offie doely a change in the administra- Commander is still in Syria, he said. fluend Deves tag Foreign Secretary, "As a realt, fley decided to adapt ( mistery."

the Frane is necessary to keep the tien by Sheikh fdullah's gover antion's factories working

"Krukji will enter Palestine at for a Weben Bartsprati umon, the

timot which Al

pre-ent. Lettwing Radical Lordre vent employment.

the end of a large army," he pre- luding the

The depute the deappresul which they tender solicitude caused by the ill-text on the debate to the National be a general feeling of the Securi-States citizens left Jerusalem for the Stupar bad had explaned to maluted the nese frane with all the

The Pakistan delegation, on the dieter-Associated Press. Premier Schuman, facing a stiff other havel, is believest to be besing i U.S. FAMILIES LEAVE wete com mapas would be registered of a loved one."

devaluation programme, its ease on what they considered to Jerueniun, Jan. 26.-Eight Unite The International Monetary Fund, "We read the result

The authoritative Le Monde com-embly, witch has to approve the ts Comed as expresed, particularly port town of Haifa tray heavily tuntr.

ants that the devaluation of the plum before it becomes law. The On Saturday, by delegates of the ordeal by police and armoured cars.

!

antenaderd

twatantrae

Mier

wore

A method

aut

Belum Bolle and faxem

with the prograbulits of others Joining as mus later.

The Chancellor of the Exchequer, reporting on his fallen raid the

French tearded as impracticable

1 thing in th evelation [st their eronerie programinie to deter- mine a new and fixed rate for the done wheli would be appropriate.

Therefore, in their judgment, it was necessary that, for the tran-

The Economist Drops A Brick

que Reonamist, usually a well-

informed periodical, cannot

be credlied with a notable con- tribution to the Kowlours Cily Issure, EL As clear that the paper Bas 1 Idea of Kowinon', rela- them to thr Colony, and still less About U ko-called walled ells dispute. There is no reasOD the

ת

world why Kowloon should have been banded back to China when Honghong was re-ncrupled Inasmuch that practically thus whole

of the mainland is leased territory which, in due course, will automatically return to China unless she wishes to extend the lease. The Economist display its Iguarance when I suggests that, "every effort should be me to clear up the without delay legal dispute over the town,"

towm the first place there is aal in the second, there can be

about

the legality of Na argument British Jurisdiction. Whatever lues are followed in the diploma- the discussions now proceeding in Nanking. we cannot believe that the Chinese Foreign Office will seriously contend that the terms of the Peking Convention offer slightest legal basis for sovereignty over part of Kowloon:

realistle

the

Chinese claims of

14013

practical and

Biter

Jor

Dute attitude would be for Nanklog to show approval of the proposed schema to convert the disputed area into a public park. the amenities of which would be enjoyed by the Colony's Chinese. The Economist

Is suftly of confused Chindia when it regrets that Britah has der thing tu settle a Jong- standing dispute. So far as the British Government Is comerrned Mo dispute exists. Cirrtal elements in China have attempted to make the subject of the retro- ession of Hongkong an

and Kowl

clown

into an issue, but so far there has been no direct approach 10 the British Government by Nanking

dicating

desire to open up i negotiations. The "dismite" which

the Sconomist

writes

AL

about Is, therefore, nothlez more than an agitation he political op- portunists, supported from the to time

wever the ben

anfor-

ww 11 -

timsarul as are the French Govern

then of the Marshall Plan. Henter.ment during

SCHUMAN'S STATEMENT

Par Jac

opened

Paris,

26.

to

the balding!

Of the

the

franc should be the

cut the export-import United States, Canada, France unct portvernment

The group, composed of the wives not, that the difference of opin

cofrane by about half. pegging it at Syria. of an International financial

and families of American consular hould rate to miterse effect on

ordination desired by the whole214 to the dollar compared with the

Pakistan delegation is oficials. included the wife and our general relate and ensop world rather than a signal for the humer 519, and offered a free money specially impressed by the sun-daughter of the American Consul-

Dill t bon, or in any way state an outbreak of commercial wartare.

give the American tourist ostions nude by Me Warren Austin, General, Mir. Robert Macstec.- Our commit tontellar fr

Fenner, Great

dollar three times its former value of the United States, for an interim Reuter. Bratata R the pur- poses announced

nators should mu-

in France-United Press. by the Poreles; ofher Western

plebiscite administration, as EXCHANGE RATES

APPEAL FOR FUNDS Speroney on Thu: day fast and inediately resumme, rust only their

declared, "as nearly impartial and monetary interrelation, but all thei

Chicago, which I found the wanne respone international commercial dealings inimicon dropped by 5 franes to Pakistan Government and what is Political Department of the Suwish

Jun. Jac.

20-Mes Golda Both the → The gold perfect as amongst all members of the French the light

possible."

Myerson, head of the Jerusalem Government whom I met.

of the present ens. Ie3,700 francs on the Paris black; termed the "Free Kashmir Govern-

Agency for Palestine, appealed to Minnde raid.

market today.

ment" have refused to recoguise the

American Jews today The Swits gold louis dropped by rya

to furnish sovereignty

Sheikh of

between $25 million and $30 million 250 ¡francs to 3,450 frames-Beuter, ¦ Abdullah's administration.-Reuter.

immediately to the Jews of Pales-

Alta Myurson fold the anaual

of the assembly

Council of the Jewish Federations and Welfare Funds that the 2,000 men now mo- Lilised in Palestine and costing $44,000 every 24 hours to maintain, must be increased to 27,000 within the next few days.-Reuter.

Of his rst interviews with M Mayer in London 10 days auto, the

20:

"I

UNDERTAKINGS BROKEN

Chancellor of the Exchequer recall-

emphasised that we were Le Populaire, organ of the Social- entirely in sympathy with the main et Purly, said the decision "bas objective which the French Guvem- | coped grave disagreement with an ment had in view,

alliert country which was to arrive at a realistic value between breaking of the undertaking towards the franc and the dollar.

an organisation created to direct reonomic and Gauclul co-operation between the nations.'

METHODS IN DISPUTE

constituter

The Independent Moderate "Com-

* said that we were prepared to at considered that one of the ob- support that objective at the Fundjectives of the

United States has

it that we were not in agreemer been attained in France, "but in anį with the method which they pro- oblique and shameful manner." pose to adopt.

The

paper sale it

"We told the French Government jästmishing if the United States had

not

given

Chinese Communists' Plan

For Invasion Of S. China

Nanking, Jan. 26.---Semi-official reports said today that captured Communist prisoners disclosed a plan by the Chinese Red High Command to cross the Yangtze inta South China beginning May this year.

would be

The reports said the Chinese Red Chinese Red suppression command

10 direct France some discreet High Command headed by Gen Chu at suchow

operations even though she Tel had ordered all preparations to nigainst the Communists in Anhwel, to the May Honnn. Elangsu and Shantung border regions. The decision to set inter-operations,

that if they found it possible to ne- cept a straight devaluation of the neuragement,"

the

to help them by immediate disc national Monetary Fund. by student movements. It Is possible that eventually the Chinese Government

nerotay ofliclal-

ly open negotiations on the jeet, but as yet they

sub-

wave given

no such sign, and there is certa ly hu call for Britain to take the under Bri- Hongkong. Initiative. tish rule, has something of value pros-

Ty

249

the sterling irt

Sir Stafford

Po-chen,

fire.

line.

10,

Coal Output Competition

Trine without the system of a free stensibly voted against France and be completed prior

in

London, Jan. 20.-Scotland is still market, we would do all we could supported Britain

The prisoners disclosed the follow-up a new command was made at leading in the national coal output sions for the expansion to trade be-

most severe newspaper con-ing Communist programme for the conferences now under way In Bat competition for the Mitchell-Hedges

of the devaluation domination of the

attended by the trophy. Having scored 162 points tween the frame and

Yangtze Valley thow which Is

Lovernors of the four provinces and in the three weeks ended January scheme came from the Paris Com-und the eventual disruption of areas nu that basis,

rainers have now com- all the #teld commanders in the area, the Scottish munist declared.

Party organ, L'Humanite, partially restored trade and

The new command would be headed | 700 points. The French Governinent, how. which said the operation was " meree in South Chipar

Second, with a:total of 846 points, ever, concluded that tralight de- for national, but essentially capi- Firstly, Communist regular forces by Gen Chiu Ching-chuang

Dispatches from Manchuria said in the Southwestern Division (South of talist Interests."--Reuter. valuation was, for a

north of the Yellow River will be bloody hand-to-hand fighting raged Wales, Monmouthshire, number

Somerset sent southwart to reasons, impracticable for them.

OFFICIAL U.S. REACTION,

reinforce without letup around 11sinlitun rail- and Dean Forest). "As the next step, we said that we

of Generals Lit to contribute to the Inture

Washington, Jan. 20.- the worst armles

The Kentish miners, who have perity of the

would still agree to work immediate fears about the frame devaluation Chen Yi and Chen Keng, leaving way station with the Reds attacking Far East, and to

artillery been steadily climbing the League for an expansion of trade and are fulfilled, this would have serious local militia to garrison the vacated under heavy continuous

table, continue at third place with for the provision of sudditional im-effects on the successful operation areas; | portant supplies for French economy of the European recovery

It was believed that the government 610 points. Secondly, newly recruited forces

untenable bul the The other positions in the com If they could accept a suggestion grammic, a United States Treasury in North Chim will be sent south-position was which, we understood, had been made spokesman warned today,

ward to strengthen the Chinese Red Capture of the city by the Reds has petition table are: Northern Division

(Durham, Northumberland not yet been reported. to them in Washington that the fren The spokesman formally confirm-hold of Tapieshan. Funlusian and

points; Mukden reports said the Nation- Cumberland)-463

North- markel should not apply to the rate ed the American opposition to the Tungpushan mountain ranges;

Tungfeng

(Yorkshire)-400 an Eastern Divinlon for commercial transactions

recaptured Thirdly, destruction of the but French Government's uctions. should be limited to Annein) trans-

Haifeng 70 and 30 miles east and points: East Midland Division (Not- thic He said: "The view of this Govern- Lunghol-Pelping-Hankow and actions such as the repatriation of ment is completely in

Lel- south-east of Szepingkal. A new tinghamshire, Derbyshire and accordance Tientsin-Pukow railways will be Communist attack was reported to French capital held abroad.

cestershire)--390 points; North- with the view of the Fund". He stepped up In line with the general

Division "The French

(Lancashire. unable, for the requirements of their raposed to make no

found themselves added, however, that the United States Communist polley of weakening the imminent 60 miles south of Peip-Western

log with large Red foreen erorning the Cheshire and North Wales)-232- unilateral Nationalists through the disruption Tatsing River northward avnh

economule position, to depart pproaches to the French Government. of transportation.

toward points; and West Midland Division from their origihal

Pelplag Other Red regiments were (North and South Staffordshire. methods."but would continue to operate in Other authoritative sources said reported along the Pelping-Punting Cannock, Chase, Shropshire and

this matter through the Fund". the government is planning another line-United Press.

Warwickshire)-4 points-Router.

der this responsibility surrender the Economist suggests. solely be.

cause Britain has renounced other treaty rights, would be nothing but a disservice to the large Chinese population which Ilves within the Colony's borders. The

Kowloon City dispute can and

will be settled

without recourse

to international courts of Justice, and with the larger question of the retrocesalan of Hongkong. We need not, at this time, be con- cerned.

Reuter.

pro-

wistsa

and

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