The Archive · 1922

New Kuangsi Currency

Luichow, Si., June

In order to meet the financial obligations pressing in upon the authorities at this time, through the calling in of rebel soldiers to join the colours, it has become necessary to issue new paper bills. Five hundred thousand dollars in fifty cent and one dollar bills are being issued. A poor class of Chinese paper is being used, as other paper cannot be obtained at this time.

Fortunately, the bills state that this is an emergency measure and they will be withdrawn within six months of issue. This latter statement is hardly necessary, for the paper is so poor that few.of the bills will last half that time. Special care will be needed in handling them and if one should get caught out in a pouring rain, or let his purse fall down the well, his fortune will be lost for sure. However, it will mean that the merchants and small vendors will lose heavily, for the paper is to pass for face value silver, and so those who purchase an article for twenty cents, and present a fifty cent bill will necessarily have to be given the article and thirty cents silver in change. How the merchants and public generally are going to take to this new scheme remains to be seen, but it is feared that there are a few thorns still in the path of those who are treading the royal road to fame at this time in South China.

Text read from the printed page and cleaned; old type leaves the occasional error.

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