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RUBBER FROM PANAMA

1 ■ —♦ 1 — CONCESSIONS TO BRITAIN. SAN I'TiAiNUISCO, June lei. The echo has hardly died aown U from tne souna or tne nation-wide f protest in the United States against Great Britain's monopoly in the)rubber proaucion, when another breaks ■ * out concerning tne granting'of concessions to Britain in valuable rubi ber lauds, said to be among the best t. in the world, ini the Panama zone, the most delicate of the parts of the PanL American fabric. Aitnough it is over a year since the concessions were granted to British , capitalists, the news did not become •known in America until a week or so ITTigo. As a matter of fact, the disI >iosure synchronised with the remarkI records in heavy gunnery achiev- -- ed by the Pacific Squadron, in the last battle tests of the year, in which the United States .Navy is certified to ‘ be a' the peak of its efficiency, compared with past history. At once, as might be imagined, the extreme view of the possibilities arising out of the concessions was taken. Senator Borah, always a sharp critic, ■if not actually a hostile one, of Britain and British policy, said that the • concessions were taken out to give Great Britain a holding near the Panama Canal, that it was a breach of ; the Monroe Doctrine, and that the • United States Government should take • such steps even at that late hour, as >: the requirements of the tactical situation demanded. Other Side of the Case. Then, when the public temper was aroused, the other side of the case was ‘ ventilated, showing, on the word o£ r, representative Britishers concerned, ; that neither was the granting of the concession a permit to make the Canal less tenable by America, nor were t>e negotiations secret, as far as the United States were concerned. The two persons chiefly concerned are Sir Al- - fred Mond and Mr. Duncan Alves, ' chairman of the Panama Corporation. ' The Latter has been in Central America, in a business way, for a number ■ of years, and was associated with the ■ development of oil in Venezuela in 1 1914. He is equally familiar with the north, west and south shores of the Gulf of Mexico, and the Caribbean -Sea. ■ Mr. Alves, discussing Senator Bor- ' ah’s outburst, said the concessions were secured, following an exploration he and Sir Alfred Mond made •some months ago to develop the oil ‘I and mineral resources of the country. , The British Government, he declared, •was unaware that the negotiations ;were going on until they were completed, and had not the slightest inpterest in challenging the Monroe Doctrine or. gaining a foothold near the ff? 7 . Evidence of Good Faith. ' ..As a matter of fact, declared Mr. KAlves, there was a clause in e . r. tract, prohibiting Government ■ interference. He claimed that , the good • faith of the step taken by the corporaotion was shown by the fact that large American financial interests were kept posted on each stage taken. Not one cent, was paid to the .Pana- '■ ma Government. ■ The - capital of the corporation, ■ floated 'last year in London, is £2,0.00,000, and the concession runs for ten \ years. - 1

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/SNEWS19260806.2.21

Bibliographic details
Ngā taipitopito pukapuka

Shannon News, 6 August 1926, Page 4

Word count
Tapeke kupu
523

RUBBER FROM PANAMA Shannon News, 6 August 1926, Page 4

RUBBER FROM PANAMA Shannon News, 6 August 1926, Page 4

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