THREAT TO PEACE

Poverty Bay Herald, Volume LXVI, Issue 19892, 21 March 1939, Page 7

THREAT TO PEACE

CENTRAL EUROPE ‘JUSTIFICATION' REJECTED PLIGHT OF CZECH PEOPLE LOSS OF INDEPENDENCE INVASION OF RUTHENIA (Elec. Tel. Copyright —United Press Ass* (Reed. March 20, 3 p.m.) MOSCOW, March 19. “In the opinion of the Soviet, Germany's action not only fails to remove the threat of general peace but strengthens such a danger,” declares a tetter which the Soviet Foreign Minister, M. Litvinov, handed to the German Ambassador. “It .is disturbing to the political .stability of Central Europe and increases the elements for war previously existing, striking a new blow at the security of the people. After rejecting Germany’s “justification” for her annexation, the letter declares that the reasons for the Invasion do not iaccord with the facts known tb the whole world. “It is difficult to believe that any people could agree to the destruction of independence and the inclusion, within another State especially, of people who, for hundreds of years, had struggled for independence and have for 20 years preserved their independence," continues the letter. President Challenged “The Czech President, .in signing the declaration on Wednesday last had no authorisation whatsoever from his people. He acted in flagrant contradiction of the Czech constitution and the will of the people. “The principle of self-determina-tion of peoples, to which Germany often refers, Is pre-supposed to be a free expression of the will of a people, which cannot be substituted by the will of one or another persons, no matter how highly placed. In the absence Of any expression of will by the Czechs, the occupation by German troops and subsequent action by the German Government cannot but be recognised as violent a.s it is aggressive. “The proposed amendment to the Slovak statute also is not justified by the people's approbation. “Germany’s action resulted in the rude invasion of Ruthenia by Hungary and the violation of the elementary rights of the population.” The Soviet Foreign Office spokesman says that M. Litvinov’s letter indicates clearly enough what would be Russia’s attitude in the event of similar aggression against Hungary or Rumania, tout no promises are given to either nation. SHOCK ON EXCHANGE EUROPEAN OUTLOOK GILT-EDGEDS DECLINE COMMODITY REACTIONS (Reed. March 20, 1 p.m.) LONDON, March 19. Herr • Hitler's coup in Central Europe gave the stock and share markets a rude shock and turned a period of optimism into something approaching apprehension. Profittaking caused prices to sag. Giltedgedis lost almost all their previous gains. Industrials generally fell back, the international position more than counter-balancing numerous favourable domestic factors. Sterling exchange a$ first showed considerable resistance to the crisis, but weakened later and the exchange control had to take action to prevent the dollar falling 'below 468. j. The discount on the French franc widened on fears of M. Daladier’s possible fall. Commodity prices mostly reacted unfavourably to the Czech crisis, almost the only exceptions being wheat, and wool. The results of the wool sales were most satisfactory. Keen competition was maintained and prices were at the full opening level. Catalogues generally were well cleared, moderate withdrawals being due to high selling limits. Buyers apparently regard the present prices as satisfactory and the awkward international position did not deter them from operating. The brokers’ proposals tb increase the delivery charges by £d per lb. and make other charges in connection with the sales were discussed at a meeting of a committee of the Colonial Woolbuyers’ Association, but no. decision was reached. It is understood that these proposals were designed to attract more wool to London, but the buyers contend that this object is more likely to be attained by reducing the charges rather than increasing them.