(Proan the Foochowe Daily Echo of 7th Feb.)
We understand that afew rich men in the city are going about the streets disguised, and rendering assistance to those or families who have no means to provide food for the holidays, From one thou cash and upward and a picul of rice are distributed aco to the necessity of each family.
China, we believe is at last determined to adopt a total change of currency, at least the steps taken by the authorities at this ort during the last two months lead us to lieve that such is their intention, The latest of the numerous proclamations on this subject is one that prohibits the circulation of a certain kind of bank note which is called Sh'ung-pin (RH) These notes it is said are circulated and used with the understanding that twenty per cent of the change is to be of broken cash; as their currency will upset previous proclamations prohibiting the use of spurious cash, the authorities have wisely notified the banks that from the first of the second moon, the use of such notes is totally prohibited, and if any bankers dare to issue, or fail'to call in all such notes in ciroulation during the period mentioned, they shall be arrested and punished. Though this change should be highly praised, we fear the measures wre taken too late, for the trade, the people, and indeed' the try in general, are in too decaying a to stand or appreciate such an inno-Te is very hard for a man who is accustomed to an exchange of 1,360 cash for a dollar, to only receive 1,020! In these hard times the loss will no'doubt be very serious. As is always the case with the Chinese government, nothing is done in good time in order to save ruin to the people. As an instance, the Tea trade of this port, the collapse of which might have been averted, if advice or suggestions of merchants had been adopted in time, but no notice has as yet been taken, and the long predicted result, due entirely to utter negligence, la now fast being realised.
Text read from the printed page and cleaned; old type leaves the occasional error.