AMERICAN ITEMS

Hokitika Guardian, 3 January 1931, Page 5

AMERICAN ITEMS

MORATORIUM MENTIONED.

U.S.A. REPORT FROM SYDNEY,

AUSTRALIAN CREDIT MAY SUFFER,

(United Press Association—By Electric Telegraph.—Copyright.)

NEW YORK. December 30. The publication over the week-end throughout the country of the United States Department of Commerce’s regular trade review from Sydney asserting that, owing to the conditions of the farmers in New . South Wales, a moratorium had been' declared until April, 1933, resulting in the Australian office here being besieged with inquiries from bankers and businessmen. These declare that Australian credit has been seriously damaged by the use of the word “moratorium.” Mr Dow, the official secretary, has cabled to Canberra for detailed information to supply inquiries.

A COMMERCIAL MISSION

REORGANISATION OF ORIENTAL

TRADE,

'Received this dav at 330 a.m.) OTTAWA, January 2. Mr Marler, head of Canada’s Embassy to the Orient has been sent to China on a great diplomatic commercial mission, designed to place China on her feet so completely that she will become a huge profitable' market for British, Canadian and American goods, The whole plan is now being discussed in London, New York, Washington, and Ottawa for tile rehabilitation of silver and general- reorganisation of Oriental trade and markets. The idea is to call together five 1 or six leading War Lords in China, who are at present fighting among'-themselves and maintaining armies of three million men living by pillage and so try and convert their leaders to the idea that everyone would- be 1 better off if Chinese armies turned into industrial units carrying out great industrial works for their own welfare. Then Britain and the United States would jointly arrange for the loan of a thousand million dollars for the opening up of China by railways,'highways and by lending support to various schemes to ensure- an era of orderly civilisation throughout the nation.