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Hokitika Guardian, 12 July 1929, Page 1

S.S. GAEL WILL SAIL from Wellington for Hokitika on TUESDAY* NEXT, JULY 16th. HOKITIKA SHIPPING COY. CHINA’S FINANCES GOVERNMENT PRAISED. (United Press Association—By Electric Telegraph—Copyrignt). LONDON, July 11. At Amsterdam an event of international importance was the subject of happy remarks by Sir Arthur Balfour in welcoming the Chinese Delegation to the Congress of the International Chambers of Commerce. He said ' he felt that the entrance of China, with her four hundred millions of people and with her immense economic potentialities was a memorable occasion. The British Delegation had been impressed by the outlino of financial policy given by Mr Chang Kiangu, who had declared that the Chinese National Government intended to refrain from inviting foreign loans for administration purposes until they had reorganised the various sources of revenue that were already at their disposal. Sir A. Balfour observed that nothing was more calculated to impress the world with tho capacity of China’s new regime than the really efficient co-ordination of her revenues. “China’s evolutionary changes,” he said, “have roused our sympathies. We agree with her in thinking that the framework in which her foreign trade has hitherto been conducted requires alteration, and we welcome the alterations already made in connection with her tariffs.” A plenary session of the conference passed a resolution undertaking to organise a Committee of the commercial banking forces in China for the purpose of co-operation with the National Government.

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