The Archive · 1929

Kuangsi's Debased Currency

Tt costs $50 to eat an ordinary meal in a Kuangai restaurant to-day one pays for it with paper currency; $3 will buy @ package of Cigarettes, if one is not too particular asto the grade; and a bowl fof good congee will cost $10. Kuangsi bank notes are worth ut three cents on the dollar. Provin-Gal Chairman, Vu Cho-pehy has told the Canton officials that there no hope of redeeming this worth-Jess currency, and it will be best to let it go to the dogs and do something about the silver coinage, go that the public may have at Jeast one monetary medium in which it may have confidence, Kuangtung subsidiary coins are legal tender in Kuangsi, although in. Kuangtung coins from the: neighbouring. province cannot be rused, In fact, anyone up in Wuchow for Nanning would much prefer to be paid. with Kuangtung silver, especially the bright silver tokens of the 18th Year of the Republic. Five of the Kuangsi twenty-cent pieces will bring but eighty cents in Kuangtung money, for nearly all of it is counterfeit, or else of Tight weight, Mr. Yo wants the Kuangtung "government to send him a supply of its own silver coins, and he proposes to send Kuangsi aliver down to Canton to be melted and recoined at the mint.

Stores in Canton are beginning to display notices urging the public to use their Central Bank notes when making purchases. These notes are down but five points below par, and many shopkeepers think these five points will be its face value. To hasten the com-

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

Your account