U.S.A. PLAN

Hokitika Guardian, 9 January 1931, Page 3

U.S.A. PLAN

TO EXPLOIT CHINA

United Pres o Association—By ElectricTelegraph.—Copyright.)

NEW YORK, Fan. 7. The “New York 'Times’s ’’ Washington correspondent states:—A plan having the double object of bringing peace to China and initiating an international effort to overcome the world economic depression will be ad vocatcd by a Special Sub-Cornmitiee of the United States Senate Foreign Relations Committee. This body, after years of study, will; in its report, advocate heavy loans of silver to the Chinese National Government, and the development of a comprehensive plan of public improvement in China, under strict international supervision. This plan would involve co-opera-tion with Canada under the project recently advocated by Hon. Air Stevens (Canadian Trade Minister), and with the British, French, Japanese and other interested Governments on use and the exchange value of silver with gold, and the suspension of the practice of the melting lip, and also the sale of silver money in India.

It is reported that a nlan for a billion dollars Chinese loan is being discussed in London and New York and that the American hankers arc eosely interested. The value of the Canadian Premier. Air Bennett’s, plan for the sale of wheat, to China, is questioned here, since it is known that the (''liines.people arc not partial to the use of this cereal. Some Senators, and notably Senator Pittman, insist that under an agreement by which the Chinese Annie® would ho diqhrmded and set to work on public improvement, there would ly. a market for the American surnl' s v heat in China. Senator Pittman advocated the advancement of 200 million dollars in silver, now in the United States Treasury, to. China For re coinage into small Chinese currency