THE HONGKONG TELEGRAPH, MONDAY, NOVEMBER 27, 1950.
EDIYONS PRESS SERVICE, AND.-NUEVA YORK
TAMB
180
THE MATURDAY GVENING POST
Let's Hear What We Tell Russia
By Jonah Barrington
Mr Laurence Gilliam, BBC lies" in
Broad- magazines. head of Features
་
FOR THE
IS
BUSINESSMAN
THERE
ENOUGH
GOLD IN THE WORLD?
London, Nov. 25.
Under the caption "Is there enough gold in
the world?" the old established bullion firm of Recovery In
Samuel Montagu and Company has issued a strik-
ing little brochure discussing the strains set up in Grain the world by the American rigidly-held official price of $35 an ounce.
Price
Chicago, Nov. 25. After ono of the sharpest
breaks of the year, the market
exhibited a better tono in a
wheat will
Unlike the Union of South Africa, the firm does not argue that America should raise the lighter volume yesterday. price of gold and thus increase gold production. Harvesting of now
start soon in Argentina and On the contrary it explains carefully the imprac- Australia. ticability of that South African proposal from the American viewpoint.
like.
in
Then it concludes that they do is the way in which Britain's only thing likely to force the gold reserve fell before the United States to raise the price devaluation of Sterling from of gold would be the flight of $2,241,000,000 in March 1948 to gold from America on an enor- $1,340,000,000
September 1949-then rose again to $2,750,- mous scale,
It said there is something 000,000 in September 1950.. This
in $8,000,000,000
"hot occurred in the gold reserve of best.ex- in the United a country with the States, which could conceive change.control in the world.
A number of countries in the ably take flight-or else such an inflation of currency credit Sterling area, among them India in the United States that the and Pakistan, want to accumu- late independent gold, reserves relation of gold reserves to the in the form of London balances. Central Bank liabilities, around 52 per cent, might fall has recently been exchanging Egypt. is another country which to the statutory minimum of 25 dollars for gold and will con- tinue to do so as the opportunity per cent
newspapers and
How about it, Mr Gilliam? casts, has a public dutyto Here is a magnificent story, and money" now tell Britain; through a series of home feature pro- grammes,just how the BBC is fighting the "cold war from its studios ut Bush House, London.
are
these. Bush House broadcasts are not secret. Anybody can pick them up, given the right set and the knowledge of lan- guages.
I believe that a weekly half- hour series giving the latest moves in the BBC's could war Why? Because people
upon Communist controlled asking questions. Time
and countries would not only again I hear: "What is the achieve
an enormous listening BBC saying to Russia?....Who public in Britain-it would open listens?...Is the stuff getting a lot of eyes at present tightly through?....
abclosed may be bett
,
Now, by courtesy of Sir Ian Jacob, Director of "BBC Ex ternal Services; I can reveal-de- tails of a radio propaganda bat- tle which, in, the last few months, has been holted up beyond recognition.
Gone are those polite, tepid talks on museums and Scout- rallies which the BBC used to transmit to the USSR, and other countries behind the Iron Curtain. Instead, in Russian, Polish, Rumanian, Albanian, Hungarian, Slovak and other languages, the BBC has the gloves off:
THREE WAYS
The war is waged in three ways:
L...By, straight news report- ing.
ex-
2. By quotes from newspaper editorials-any newspaper cept the Dally Worker,
3. By talks and produced feature programmes.
It is in category No. 3. that the BBC hits hardest. Satire is a frequent weapon; and a skit
"Sleep, called
Campaign" (satirising the present "Peace Campaign"), broadcast to Hun-
is. about
the
an-
gary recently, funniest, most biting thing I have All Britain heard in months, should hear it—and laugh,
from Russian-oc- Refugees cupied countries provide other powerful weapon. They' arrive at Bush House and then, rolling up sleeves, tell the poor: wretches who remain...behind just what life in Britain is like compared with the life they have so recently éscaped, with its espionage, hunger, forced labour, concentration camps and torture...
If a refugee wishes to be rude to Stalin or to chuck Stalin's own words back in his teeth, then the BBC (operating under Foreign Office, guidance) has no objection.
NO NAMES
Refugee scientists, doctors, artists, artisans, journalists-all are allowed their turn at the BBC microphone,. usually with the script marked NAME NOT TO BE MENTIONED, A.
M
I have before me a pile of such scripts, broadcast within the last few days, and the hatred and fearof. Communistic do mination are imprinted in every line. Let Britain, hear them...
STANDARD BRIDGE, By M. Harrison-Gray
Ba
එප
6004
Dealer: South. Gamo all
BOGD
N. A04.2
K 10 8.4 3
873
3
10 6
7 4 4 3
8.
4.K 10
AQJ70
K852
This deal shows one of the merits of - the non- forcing limit raise. After One Heart by South; “Two Diamonds by West and Three Hearts by North, East did not feel justified In bidding If the other method is played, North can only bid Two Hearts. This gives East-West a better chance of sacrificing, - if necessary, or finding the defence correct
against South's actual contract of Four Hearts, me
West ledK; East play- Afraid of setting ing 4. up. ♦ Q as a winner in the South Hand, West shifted to 40. The rest was n simple elimination play: trumps were drawn, two Bouth, Spades ruffed by and the play of Q com- pelled West to lead a Club or another Diamond. With support from East, the lead of Aata trick 2 would be indicated.
London Express Service,
↓ now
of
occurs.
THE ULTIMATE MEANS
The South American countries are taking every opportunity of building up gold reserves in proference to dallar or Sterling balances.
After describing the fall in production ex- world gold cluding the USSR from 34,- 600,000 fine ounces-'in 1939 to 23,850,000 in 1949, a fall just over 31 per cent, it shows where the reduced gold output has gone: "During 1949, mone-
However much the world tary reserves held in central
may use new international banks und equalisation ac institutions like the Interna-
counts rose
All cereal grains made gains due to favourable response to the war news and also the favourable crop conditions throughout the corn and soybean' area.
Wheat closed 1% to 1% up, corn was up 14 to 24, oats up 1% to 2%, rye up 1% to 4% and soybeans up 13% to 235
Prices closed today, as follows:-
Wheat-price per bushel
Spot December March (1951)
May July
Corn
Spot
March (1951)
December
May July
Rye
December May July
Oats
December March (1951)
is vjez
2.25% -% 2.30 2.2934-1 2.23% -16
1.507
1.58-1.577% 1.61% 1.621 - 4
.1.629%
1.44
1.52 1.5414
92% -14 9143 blá
87% -24 0216
July
NEW YORK FLOUR-per 200 . sack. $12.40.
-United Press.
Futures
In New York
by 10,950,000 tional Monetary Fund and the Cotton ounces, leaving 12,000,000 European Payments Union in ounces of 1949's production of order to make international 23,850,000 ounces, that is, 54 payments,
gold remains the per cent, to be absorbed in ultimate means of settling industry, and hoarding."
balances, Turning to worldwide in- flationary forces, the firm ob- served, "Since 1939 there has been an
New York, Nov. 25. Cotton futures closed, today, 20 to 65 points higher. The market started 22 points higlier
Within three months of the European Payments Union coming' into operation this new expansion in the mechanism was using gold, to 45 lower in continuous, proff, volume of money in circulation paying it to France and taking | taking. from the previou and bank credit for which gold it from Germany. Already session. has to act as an ultimate re- Germany is finding it difficult serve. Converted into United to put its hand on enough gold States dollars, the world's and dollars to meet its EPU money supply-currency and obligations-United Press. bank deposits--in 1939 $57,000,000,000 while in 1949
it
was
was $170,000,000,000. In 1939, the rate of gold to cur- rency and credit in the world was about 46 percent. It had fallen to 20 percent in 1949."
SCRAMBLE FOR METAL
Hence
After replacement Luying set in, it soon pushed the market into a new high ground for the day.
today Prices closed follows:
Ceylon Cocoanut Spot
Exports Up
Washington, Nov. 26.
Department
The Agriculture
December March (1051) May
July
October
December March (1952) Maya".
7
44.23 43.22-43.35 42.87.43.89
42.14.
41.40.
30.315
0.9
33.80 nominal 33:70
34.45 nominal United Press,
Singapore Rubber
Singapore, Nov, 25.
J
19
Prices in the rubber futures market hero, closed today follows:- Number 1 rubber,
the world scrambles for the diminished supply of Bulletin "Foreign Crops and gold. "Many countries whose Markets" said that Ceylon's ex- reserves have been seriously ports of cocoanut products dur reduced or in some cases haveing the third quarter of 1950. disappeared
will were substantially larger than altogether want to build them up again those of the previous, two quar». Both for domestic reasons and ters. for meeting their external ob- The Department estimated ligations."
Ceylonese exports of copra and the third cocoanut oil during particular, gold fers are required when balances quarter at $9,000 long tons, of payment are disturbed by compared with 15,770 and 20, movements of capital--including 720 tons in the first and second hot money. The volume of hot quarters, respectively. The in
the world money in
today is crease was duo partly to the Spot rubber, unbaled
removal of restrictive produc- No. 1 pale crepe greater than it has ever been.
One example of what it can' tion quotas."--United Press.
: In
BACKGROUNDS: Douglas MacArthur.
trans-
per Ib. November December January (1951) Number 3 rubber,
November Number 4 rubber,
November
Black crepe
J
163 -104 15936-16044
154 -153
154 -155
149 -150 170 -171 -134 133
171 -170
United Press.
No. 18
By MELVIN K, WHITELEATHER & NORMAN MYERS”
LEDGED STROJDATIE.
ook
ze
else with which to do it Ho walked the streets of Melboring ountrâg: isék indireflecting
President Roosevelt PT boats Eneaked past the He also learned he would have ordered him to leave. MacArthur Japanose in the night removed to forge his campaign with his the General and his family from owo brains. There was little never answered the summons; «A ̈“
fithe rock" and daringly third order was couched in strong them to remote Island language. This the 61 year old vous with B-17 bo soldier could not ignore without Australia the Ge
would have xhe Romalty, Reluctantly he
good on his Wainwright, and the
and went fo
The Japanese invaded the le Twice Is our stuit, getting through to Philippines on December Russia? Yes, Observers. In the 1941, and with superior pow perimeter.countries: Finland pushed MacArthur Into and 50 on speak, of good Bataan peninsula. While strength and successful pengarge Eround commander, Major Gens tion of Russian, jamming.ee Jonathan Wainwright copy cArthur Po The Bussigny, listen? Yes-ducted the because the Russians take the with his wife,
sot. up trouble to contradict “iniquitous eadquarters
No comments yet.
Private notes are available after approval.