The Archive · 1927

Currency Complications

'The Chinese currency syatem—or rather, the lack of a currency sys fem—hasalwaya' been "nuisance China is the only country. in. the would where & dollar has not a fixed convertible. value into cents-—where (on get anywhere up t0" 360 cents the dollar if converted into ec per or 12 silver ten cent piece tre have had thie. season in Choto the only country where a jllne bill in-one province is not 0 dollar bill in another. Tt is the Countey, where you have, taels snd dollars "big money" and "snsall money" and a whole variety of other moneys. The Japanese, aecustonied having, but one currency in cit culation throughout the length and oceadth of their Empire, introduced the yen into Manohuria—in the time of the intervention it even found 2 foothold in Siberia—and they used ithas a stable cureeney. Until the campaign against the yen inauiurat~ fed by Gen. Chang Huang-hsiang bin, the ative population earnie tovadopt the yon. as much as. the Japandve did, and, prior to that earn plan of Chang Huaog-hsiung's, 0 Chinese. tradesman would. vathor have ven for his goods. Gen, Chang Huang-hsiang, under instructions from Mukden, prohibited all estal lishments in Haxbia either to sell or bay in yen and adopted methods that feaused 1 furore amonget the Japan What of the Future How Tokyo and Mukden are going to settle their various griev mains to be soon, And having led" them, will they continue to have that Close connection that existed up to the time of the Kuo volt or will they now merely mai tain a superficial show of friendship all the while eyeing each other with suspicion? The Japanese say Chang Tso-lin is suffering from overweening pride. Pho Chinese retort that the Japanese are always after their pound of flesh. Which, one feels constrained (0 ask, is which?

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

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