According to cabled advices from Fankow the authorities there have decided to redeem the flood of paper money issued there without adequate cover in the course of less than half a year. The total sum of Yanknotes and treasury bills to be: redeemed is given at about 70 mi ion dollars face value, It is proposed to redeem the 10 million trea sury notes at 10 per cent. of their face amount, while the banknotes are to be bought back at 20 per cent. of their nominal value. Apparent-the public is not quite convinced Jabout the feasibility of turning project into facts, for one day aft the publication of the redemption rehedule Mankow banknotes were offered there at 15 per cent. of the Inseribed value-—with sellers predominating.
According to plans, the redemption is to be completed within two! nionths. This would involve a reserve of hard dollars of about 13 millions, a sum which is not east procurable without adequate cou ter value.
The mint at Wuchang is (or has! Jat least been until quite recently) those showing the bust of Dr. San! Yat Sen.
Text read from the printed page and cleaned; old type leaves the occasional error.