Frotest by. Waichiaopu Peking, June 18.
The Waichiaopu has protested against the introduction of the gold yen on the Tairen Produce Exchange in place of the silver dollar, on the ground that it will cause serious loss to the Chinese dealers at Tairen. The Kuantung Government recently issued a proclamation that henceforth the gold yen will replace the silver dolleyr on the Tairen Exchange. A similar notification was twice previously issued, but its application was postponed, owing to the acute opposition from the Chinese and many Japanese dealers.
The Japanese Legation asserts that the measure will now be carried out, though it will probably entail a considerable loss. The merchants of Japan are stated to favour the measure, in order to obviate the necessity for converting gold into silver for all Tairen transactions. The Chinese seo themselves faced with a loss through converting into gold, while the Japanese dealers apprehend trouble, unless the Japanese buyers pay sufficient to cover the Chinese losses through conversion.
It is pointed out that otherwise other nationals using silver will be placed at a disadvantage. Interest locally centres in the probable extended use of the gold yen on the mainland, and in what is generally described as the challenge to Shangh: supremacy as the one great clearing-hou: in China.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.