New Caliph.

Hokitika Guardian, 8 February 1923, Page 1

New Caliph.

THE PROPHET’S BEARD. I CONSTANTINOPLE, Dec. 1 • The customary ceremonial was ole served in glorious sunshine to-day tit the accession of Prince Abdul Medjid to the throne of the Caliphate. The Prince, who is 54, was the HeirApparent of the Sultan-Caliph Mohammed VI., who, fearing death at the hands of the Turkish Nationalists, fled from Constantinople to MaltaTast week in a British warship. The Turkish Nationalist Parliament, which had already abolished the Sultanate, thereupon ■ elected Prince Abdul M/idjid Caliph. As the successor of Mohammed the Prophet the Caliph is the spiritual head of Islam, of Mnliommedams of all lands. This morning’s ceremony began wen the Prince left Dolma Baghelmh Palace, in the north "f Constantinople, and drove in state to the Old Eeraglio in Stamhul, the Turkish and oldest part of the city. There he ivas met by a delega'ion from the Turkish Nationalist Parliament, who handed him a letter announcing that he had been elected Caliph by the representatives of the people, the governors of Turkey. Surrounded hv princes and official . It centered the Pavilion of the Mantle of the Prophet, tho walls of which glittered with previous faience. The head of the parliamentary delegation handed him a golden key with which he unlocked three golden reliquaries. In those are kept the Prophet's Mantle wrapped in forty xiken covering-, ftis sword and flag, some hairs of hi- heard, and a sacred Kiram. The new Caliph venerated these sacred relies ceremonially and accepted the guardianship of them. Jle then proceeded underneath a verandah, where he Nal on the lltrone of the ancient Egyptian Caliphs. Having received obeisance. Hie Caliph with General Rnfet Pasha, the Governor of Constantinople, who has heel) superseded because lie allowed Mohammed VI to escape, went ill a state carriage to the Mosque of Mohammed the Conqueror.

SWISS LEVY FEARS. BERNE, Dec. I. An illustraiion of the tear that has seized Swiss investors since the threat of a capital levy hv the Socialists is provided by the hist weekly report issued by the Swiss National Bank. At the end of September the amount of banknotes in circulation was 747,000,000 francs < 1'29,850.( '00), whereas a month later, when the full purport of the Socialist scheme became known, tic total had risen to more than 813,00'),000 francs (£32,520.000). .'sited to explain this sudden jump, a prominent Berne hanker this morninp. said : ‘‘lt is undoubtedly due to fear oi eoniiscatiou. hi a country of small fortunes like Switzerland the withdrawal from the banks of more than .£2.o00,l)0() in such a short period represents a tremendous dislocation of economic conditions. This money and the enormous Mini-, in securities, of which it is obviously imp issible to pave a correct estimate, will remain toncealed and unproductive until the Bolshevist menace is oast.”’

Insurance companies and savings banks have likewise notified their memJierfi that the passing of the law will make such inroads in their surplus funds that the members must he prepa. eh lor a big redaction in benefits. s to the Swiss hotel industry, which .qj,,,— !<i| ! has been able to exist only by ill" help of hanks, i lie adoption ot tlie Socialist scheme would mean ruin.