HELPING CHINA

Nelson Evening Mail, Volume LXIV, 9 January 1931, Page 5

HELPING CHINA

AN INTERNATIONAL EFFORT

A DOUBLE OBJECT

• (United Press Association—By Electrio Telegraph—Copyright) NEW YORK, 7th January. The New York “Times” Washington correspondent states a plan having the double object of bringing peace to China and initiating an international effort to overcome the world’s economic depression will be advocated by the special sub-committee in the senate of the 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 improvements in China under strict international supervision. The plan would involve cooperation with Canada under the project recently advocated by Mr Stevens, and with British, French, Japanese, and other interested Governments on the use and exchange value of silver with gold and the suspension of the practice of melting up and the sale of silver monev in India.

It is reported that a plan for a billion dollars Chinese loan is being discussed in London and New York, and America'n bankers are closely interested. The value of the Bennett plan for the sale of wheat to China is questioned here, since it is known that the Chinese people are not partial to the use of this cereal. Some senators, notably Mr Pittman, insist that under the agreement, by which, the Chinese armies would be disbanded and set to work on public improvements, there would be a market for American surplus wheat in China. Mr Pittman advocated the advanement of 2f>0,000,000 dollars in silver now in the United States Treasury to China for recoinage into small Chinese currency.