The Archive · 1927

Shanghai, Dee. 10

Charging them with being accomplices. of Chang Fa-kuei. and Huang Chi-hsiang in their revolt in money has arrived here from the fective Committee nbw holding the|Canton, and thereby guilty of trea~

United States and it is understood preli is to be shipped to the Provincial Treasury in Canton. This currency bears the value of from ten to twenty cents; and will be used instead of silver coins in the southern capital, the issue being due to the scarcity of silver.

People in Canton who have silver coins do not want to part away with them in exchange for banknotes of the Central Bank, on which there hay been a run for the last two weeks. The situation has become very acute, and public eonfidence in these banknotes is on the wane. The shops insist on all payments of less than a dollar being made in silver, One-toller notes are in great demand, but even with this, denomination stores are reluct tant to give change for any dealing of less than a dollar. As a consequence of the decreasing faith in the banknotes, the prices of all commodities have risen, The Government has prohibited all exports of silver, but this has not helped the situation. Peopl have to be lavish these days, because, whatever they buy with banknotes, they cannot get any change. The police have ordered that the notes must be accepted at their face value, on pain of severe punishment, The dealers with reluctance accept the notes, but positively refuse to give change in silver. The small stores and peddlers are hard hit, because people avoid as much as possible the giving away of coins. The money-changers, to evade changing notes for specie, prefer suspend business, So many people are rushing to the Central Bank and ite branch mary conference in Shanghai Mr. Chiang Kai-shek, in his capacity fas 'a party member, urged all his colleagues to forget their past [differences and ill-feelings against tone ansiher so as to pave the way {for a successful solution of the party's problems in the coming session. Mr. Chiang pointed out that the Kuomintang is now facing the severest test in its 30 odd years of lexistente and no sacrifice, even to the extent of surrendering individarl Tights by certain members of the Committee, is too big, in order to solidify the ranks throughout the entire Party and to restore to it its former prestige. He inforthed hhis colleagues that if internal sension continues and remains in the way of the convention of the fourth plenary session, dif dence would arise among the loyal mem-[bers and the country at large would question the intention of the Kuomintang members. The Nationalist troops, likewise will begin to won der whether they are fighting for [the Three People's Principles 07 merely taking orders from different roups of officials whose. interests ire at verinnce with each other.

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

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