AMERICA & JAPAN.

Hokitika Guardian, 22 May 1924, Page 2

AMERICA & JAPAN.

LATEST DEVELOPMENTS. AUSTRALIAN AND .N.Z. CABLE ASSOCIATION. TOKIO, May 20. As the result of a persistent inquiry, Foreign Minister Matsui told Press correspondents thni M. llaniheva (Japanese Minister to U.S.A.) may shortly be permitted to resign his post at Washington. Matsui added that there had been formal correspondence thereon, and tlit* resignation if it occurs, would he purely voluntary. The officials, however, declare that Mr Hauihora is determined to leave the Fiiited States directly the Japanese Exclusion Clause of the Immigration Bill becomes effective. Mal-iii, commenting on Wood’s resignation at Tokio, expressed I lie opinion that the enactment ol the Japanese exclusion was the l uiidameiital reason for his retirement, saying: ■•The ambasador has the most profound sympathy for the Japanese nation, whose gratitude to him will always ronm:u Iresh. The newspapers unanimously regret Mr Wood's resignation, all paying a tribute to bis friendship to Japan. NEW YORK, May 2(1. President C'oolidge has instructed Secretary Hughes to accept Mr Wood's resignation, lull declared that he himself was not prepared lo name a successor. WOOD ASKED TO STAY ON. TOKIO, May 20.

Dc-p:ili ims reporting Senator Meilill McCormack might be the .successor of Mr Woods were unfavourably received. Official circles deem tlio Senate’s action nil exclusion as an insult to Japan, and believe the appointment of a Senator who had suitscribed to the Bill would Go likely to create resentment.

The paper “Xiohiniclii.” in an outspoken editorial, asks for Mr Wood’s withdrawal of bis resignation, to remain here to face a dill’ll lilt task, saving:—“This must result when the smouldering indignation of the people blazes forth.” The “Niehiniclii,” addressing tin l ambassador, continues:—

"In such a serious, delicate situation, when liobodv else can handle the tremendous task, your responsibility to slay here, and .prevent any untoward occurrence threatening the peace of the Pacific is becoming all the greater. It devolves oil your shoulders to uphold the pillars of peace.”

Friday, May 2nd, and following days’ Inventory Sale, the great elearaiue before annual stock-taking. Don’t miss this big factor. Broadlasting, bargains, sensational smashing prices; stocks must go out to simplify stock-taking. Your great opportunity to buy the new winter goods al end-of-season's low bargain prices. This great sale for a short period only. Act quickly.— McGruer’s, Hokitika ami Greyinouill.—Advt.

LOAN FOR R FSHIA. LONDON, May 21. A communique issued by mi AngloRiissi.au conference states that the Soviet delegates handed the British delegation a proposal for a long term loan. The Soviet would devolo a lump sum to cover the Rlls-ian prewar debts to British holders ol bonds before Match 12, 11*17. The greater part of tlie loan Would he spent in liritiiiii lor lau.-liinerv a:i.l ol her ne-i-essitii'S.

The British delegation replied that a close esamioalion of the proposalwas necessary, hut any assi-tanee in the floatation of a proposed loan would lie most limited. There could be no question of a Grfveriiment guarantee. 'file Soviet delegates -gated the Soviet was mil prepared to repay the pre-war debts at their full pre-war value. Interest arrears should lie ignored. am! the priuripid reduced, as the Russian assets had been reduced in loii.-i'quonee of the war and <d civil war. Limited payments to bondholders should, however, he made as soon as possible.

The Russians urge the British to do their utmost to help a loan, which, imer-alia, would develop Anglo-Rus-sian trade. The suhnetted partier.pation of the Russian State would -olidlv secure it.

The British again emphasised their inability to guarantee a loan, although they would sympathetically regard Soviet efforts to raise a loan privately.