AMERICAN ITEMS.

Hokitika Guardian, 8 January 1925, Page 2

AMERICAN ITEMS.

LATEST CABLE NEWS

lUSTBi.LIAN AND N.Z. CAIILE ASSOCIATION. JAPANESE IN CHINA. OTTAWA, January C. The United Press correspondent obtained an exclusive interview with Count. Hayashi in London. The Ambassador said Japan's policy in China, was based on a complete open understanding and co-operation with tho Great Powers. Japan was determined to avoid any intervention in China’s affairs except- in the form of friendly assistance offered jointly with tho United States and other Powers. “I think,’’ he said, “there must eventually lie niu-Ii an offer of assistance. This would have to come after the Chinese Conference, and no action would he taken unless agreeable to China.. Wo cannot force our assistance upon her. Japan will willingly take the initiative if desired, but whenever th? conference is called we must he pretty sure it will succeed. Anything approaching a military expedition would inflame China and might cause a repetition of the Boxer trouble. There is no real danger of China being Sovietised. “Japanese and United States triend.xliip must and will continue. We must not allow is to he disturbed by unfortunate circumstances or utterances in either lountry. The fundamental policy of Japan and the United States in the Pacific is that our friendship must, he maintained. The future of the world will be dark if wc forget that.” BACK TO GOLD. WASHINGTON. January fi. Officials have been informed that the hitherto unexplained visit to New York of Sir .Montagu Norman (Governor of the Rank of England) is connected with a proposal by which the British Government and British financial interests would restore the pound sterling to its gold parity in the near future. Sir M. Norman is not oxpee- - ted to negotiate with tho United States Government, as that is unnecessary, hut close co-operation between London and New York money markets j„ essential. Responsible British agencies believe that they can bring sterling to parity at any time, hut the problem is to keep it there. Sir M. Norman is understood to ho gathering estimates of the trend of capital and the gold movements, which might result from mu- sterling, and is arranging tenatively for an adjustment of monetary and banking machinery to meet any new demand. Some in Washington believe that sterling it V would hasten redistribution, and would require an export of gold from the United States. NEW YORK.. January C>. Si,- George Paish. British Financial Authority, has arrived here en route from Washington.