Hundreds of old houses and shops have been pulled down, and modern in' their place, re ure two almost palatial hotels the River. Paper currency is at par and sometimes at premium. The Commercial. Press brought a special machinery from to print. several thousands of new $5 and 81 notes.
One reason for the ready acceptance everywhere of paper money 1s that merchants have previously refused si ver coins that were in any way worn smooth, except at a very heavy discount—thew were to send these down to Wuchow paper dollars now.
Silver has always been " tight," and an extraordinary system of payment by cheque has been in vogue for several years—these cheques, sometimes only represent-"50 cents, are passed from hand to hand.
Founding a Foreign Concession.
Eight years ago Nanning was opened asa "Treaty Part"; and the Chinese authorities set apart a piece of ground outside the city, by the riverside, as a " Foreign mn"; no foreigner was to build outside its limits or carry on trade elsewhere, These regula tions could not be enforced. The pretentious carriage roads, concrete drains, ete., have gradually fallen into ruin and decay; and only last year was any serious attempt made to build on the settlement, In 1913, however, when the river rose 55 feet and the land was flood ed, the floating Customs pontoon was towed on to the ground reser ved for the Customs and is now a permanent fixture there. The Customs are also putting up a sub stantial brick house for the Commissioner's residence at a cost of $20,000, Close to it the dard Oil Company are building place for their men at a cost of $17,000, Their godowns are on the other side of the river, further up, as are also those of the Asiatic Petroleum Company.
Text read from the printed page and cleaned; old type leaves the occasional error.