An almost sensational improvement in the value of copper coins has been witnessed since last week. Last Saturday they were at 174 to the silver dollar, while on Monday morning the price was between 160 and 165. By afternoon a further improvement had taken place, and a dollar could be purchased for 155 cents and in some cases even for 150. This is the first rise that has taken place in the value of copper money for a very long time, and it may be remembered that not so long ago they were at about 180 to the dollar. So far as can be learned the old law of supply and demand is the sole factor bringing about this appreciation. About this season, in preparation for the China New Year payments, country people evince a. big demand for copper coins, and accordingly during the past few days the number in circulation in Shanghai has been decreasing owing to the steady drain from the surrounding districts. This will probably serve to keep up the value of the cent for some little time, but it is feared that the improvement can only be temporary.
Text read from the printed page and cleaned; old type leaves the occasional error.