Show weekly nex news s afzal arzal 44 si reversal of foreign policy seen in V U S sa british loans to china by y joseph W ua la bine EDITOR S NOTE when op n ons are erp exp essed in these columns they are those of the sews news analyst and not if of the newspaper international although U S british sympathies in the chinese jap war have al ways been with china industrial ests of both nations have gladly prof cited by selling arms to more pros berous japan in the U S this activity continued unabated until last june 11 when secretary of state cordell hull asked that it be discontinued still later came a se rous blow to U S prestige when japan having conquered shanghai canton bankow and pro ceedee systematically to shut chi na s open door in violation of the nine power treaty obviously U S british supremacy in the orient was at an end unless the two nations would reverse their soft stepping policy and take military or econom ic recourse against tokyo after weeks of undercover negotiation be tween london and washington the recourse now emerges as economic still acting without apparent co op aeration the two capitals made sim liar news on the same day washington wahington the government op crated export import bank ad danced 25 in credits to a new york company for exporting U S agricultural and manufacturer manufacture 4 10 rills 41 JESSE JONES his bank answered japan 0 9 goods ads to china recognized as a very thinly veiled government loan most funds will be used for automo bile trucks and gasoline to haul mu notions over the new chinese gate way from burma to mature in five years the loan is guaranteed by the bank of china chief U S negotiator was jesse jones chair man of the reconstruction finance corporation london now en route through parliament is an allotment of 10 pounds for export credits to protect great britain s far flung for eign trade from nazi encroachment already earmarked is an initial credit of pounds for the chi nese government to purchase trucks and road making equipment for the new burma gateway also under consideration is a british loan to the chinese exchange equalize equa liza tion fund to help china s dollar while chinese officials hailed the simultaneous moves as a diplo matic victory while tokyo won dered what recourse to take while chinese government bonds showed good strength germany s foreign office commented in its official mouthpiece Diploma korre spon denz the united states new policy furnishes food for thought it shows that washington apparently pursues aims which go beyond its established old policy of good rela eions with other countries no opportunity is missed for directing attacks or innuendos against author atarian states rumania of all the lesser european nations subjected to nazi germany s ical economic pressure rumania has alone stood up on its feet and barked back reason rumania has been able to buy her imports anywhere she desires but germany must have rumanian wheat and oil until last fall this upper hand served king carol well but the ring of nazi dominated nations around bucharest has now grown so powerful that he must bow to berlin or risk economic starvation thus rumania watched anxiously as german aggression in austria and czechoslovakia threatened to wipe out her prospering trade with those two nations S nee nce most of rumania s czech imports came from now a part of germany f the reich gained an anor enor advantage through this ter rit atonal orial acquisition to woo rumania successfully germany must only meet th dila tory competition of great britain whose promise to buy part of king carol s wheat surplus is ov ershad owed by a german offer to buy all of it thus heartens hear 1 rumania has signed a trad agreement whereby the reich will take almost a third of its exports meanwhile buying half its imports from berlin how long rumania can remain independent of germany s beck and call is problematical like a wi child who wants cake but won t brush its teeth king carol has successfully cess fully smashed the rising nazi party within his borders yet he followed this coup with a totalitarian declaration under which rumania becomes a one party country politically similar to germany likewise while begging for german trade he has started an intensified program of fortification against german aggression spain on a gloomy november day in 1931 spain s parliament stripped king alfonso of his citizenship and properties already the previous april alfonso had left for france soon taking residence in italy where premier benito mussolini has not been unfriendly to his once royal guest since the loyalist government that ous ousted ted alfonso is now fighting a los mg ing battle to generalissimo fran cisco franco moreover since italy and spanish royalists are on fran co s side observers have haie long thought alfonso has a good chance of returning to the throne some day franco hinted as much last spring indicating that he might retain for himself the premiership and thus make the throne a puppet post this theory is now strengthened by action of rebel spain s council of ministers not only restoring al fonso s citizenship but his lands as well how soon if ever the ex king will return to spam spain is still a secret but pessimists regard fran co s gesture as merely an insincere bid for continued royalist support which has been dwindling in recent months still others think alfonso would never return to the throne that his job would be taken instead by prince juan compromise candi date of both royalist factions the Car carlista lists and espanol ests politics smart politicians lay their campaign groundwork well in advance swapping favor for favor smelling out the trail that will most likely lead to success thus official wash ington has started buzzing with ru mors following 1 resignation of commerce secretary daniel C hop rop er and attorney general homer and 2 vice president john nance garner s return to the capital that mr garner visited president roosevelt the same day mr roper resigned gave an added zest to the game while both the president and vice president look to 1940 they apparently look in opposite directions no public utterance followed the con ference but it is quite abnous that mr garner looks fearfully on the projected appointment of ad harry hopkins to succeed mr roper the roosevelt program to strive for more new deal gains such as governmental beor gamza tion and to give harry hopkins a build up for presidential nomination in 1940 the garner program to consolidate the adminis s position to unite arguing factions and make a record in con gress which will win public approval both programs lead to 1940 but each goes down its own zail trail in the inevitable compromise it is expect ed that mr hopkins will be named commerce secreta secretary ry but that in re turn congress will demand drastic revision of relief administration r VICE PRESIDENT GARNER he also looks forward to 1940 how this solution could clarify the 1940 presidential issue is not alpar ent moreover conservative ele ments in the democratic party doubt that the commerce depart ment s immediate charge U S business will like the man whose job has been to dispense 9 since 1933 while gossiping over this morsel washington s politicians have let pass almost unnoticed an equally important bit of groundwork lead ing to 1940 john L lewis C 1 I 0 chieftain has spoken publicly against a labor sponsored third par ty choosing instead to broaden his labor s nonpartisan league its pro gram to elect delegates in the presidential primaries who will as sure nomination of progressive candidates this means that C I 1 0 endorses continuation of the new deal and that a move to the right would cause the lewis front to bolt from the democratic convention |