Reports have reached Shanghai during the present week of unsettlement in the Tairen produce market owing to the decision of the Japanese officials to introduce a gold standard there. Apparently the Staple Produce Exchange had practically suspended business for a fortnight on account of the decision to bring the gold standard into operation, and when it reopened to business on the 2nd instant there was a very short session, few Chinese dealers appearing. It is stated that the proposed introduction. is having a depressing effect on exports, and accordingly shipping business at the port has become appreciably quieter.
The "Manchuria Daily News" of May 5 gives much prominence to the subject of the gold wendera This journal quotes Dr. Momura, President of the South Manchuria Railway Ca., as stating that the adoption of a gold standard to apply to dealings on exchanges in the Kuantung Territority was decided upon in 1917, and although the silver standard was continued for the time being it was recognized that sooner or later it would be displaced.
The Tairen Chamber of Commerce has appointed a deputation to proceed to Tokio to go into the question of the adoption of the gold standard, and a member of the deputation has pointed out that its introduction has been Japanese residing in Kuantung as againat the 20,000,000 Chinese. The depressing effect on trade has created the view that its introduction at the present time is premature, and one opinion has been expressed that it will be time enough to put it into effect when China has carried out her currency reform plan and standardized her currency on a gold basis.
Text read from the printed page and cleaned; old type leaves the occasional error.