To the Editor of the "NontH-Caixa Daly News."
Dean Six—Permit me a little space in your columns for a small query I wish to put.
In your Thursday issue under "Notes and Comments" you censured the@exchange system, or rather, non-system, of China." On the heel of this comes the report published in your Friday issue re the "Anking. Bad Dollar." It is well these records are being made against thi other system of profiteering dnd one might say concerning what is being Jdone outside the Shanghai wall but can anybody guarantee against 'a great evil, namely, that the local Chinese bank notes will not suffer' the near future? __Can you inform me whether thei fs any sseeutity against such a preciation of the local Chinese banke paper currency that at present truly flooding the market?
Tam putting this question to you as I have been unable to find an answer to it and on an event whielt fany well informed business man will find eventual. And, foreseeing all the possible havoc of the mark and rouble, it ts well indeed' 0 be pre pared.
Yours faithfully, Shanghel, June 14, 1924.
**As far as we have know there is no guarantee for Chinese bank notes beyond the name of the bank that issues them. The safest plan to accept only the notes of batik ich the Shanghai Race Club ae" copts at its mectings—Ed, Gen. Lu Yung-hsiang has beet explaining by telegraph to the Chee kiang Association in Shanghai the reason for the presence in his prow vince of the defeated Tsang Chih-ping. and Yang Hua-chao from Fukieny The Tupan concludes with express sions of "love for the Chekiang people" to whose satisfaction he il deal with any situation that may henceforth arise," and says that Gens, Tsang and Yang's tenure in the province will not be of long. duration, Iw a circular telegram, Inv, Sun Pao-chi, the Premier, informs the provinces that he had assumed the Gifficult offic of Premier with exe treme diffidence; that Wang Koh ming, the Finance Minister, while absolutely refusing to attend Parlias rentary sessions when required and becuting himself from Cabinet meetings, had nevertheless dealt with several very important ques. tions all of which required his (the Premier's) signature and for which rremicr, had to bear full res lity. Mr. Sun felt no pers sonal animosity against Wang, but he regarded national affairs as of such importance that he must exe pect ce-operation from all his cole cagnes. To remove misunderstanding, he issued this explanation,
Text read from the printed page and cleaned; old type leaves the occasional error.