To the Editor of the Nonrit-Cuiwa Dany News." newspaper of Friday a long article Sm—We have meted In your entitled Compulsory Registration lof Chinese Banks", with respect to the regulations promulgated by our office, You have been greatly misin" formed on the whole subject, and we beg to supply you the following informations for the enlightment of you and your readers, Organic banking laws had long been promulgated and establish in the 84th year of Kuang Hau of the Ching Dynasty (1907); and }governmental officials had been appointed to enforce the ren in Shanghai, However, they had failed and neglected to perform their duties faithfully and the laws were consequently shelved and not [Put into force and effect. The Com-troller's OMce had therefore been {in existence for many years, and this office ig only taking over the functions of the old office and put teeth into the old law with regulations. For example, the rules for the registration and inspection fof banks, trust and insurance companies and the like as appeared in mentioned organic banking laws, in the laws governing the issue of bank notes promulgated in 1914, in the two exchange laws promulgate
and in the inspection regulations of OLE and 1620 rempetively, bands, ete. promulgated in 1916, And 30 this office simply enforces the existing laws and codifies new jones to cope with the change and Jcomplex banking and financial conditions in Shanghai and elsewhere in China, In the official despatch, dated November 9, of this year to the local Chinese Banking Associa" tion from the Ministry of Finance, it was shown that this office was Jestablished to amalgamate the Currency Department, and the Supervisory Officers of various banks Jand exchanges in. Shanghai under the Ministry, "as follows:—
Text read from the printed page and cleaned; old type leaves the occasional error.