How the present matter will pro-! coed has not been definitely decided. Tt is known roughly that the point of contact will be somewhere between Shihpa Station on the Canton-Kowloon and Saichuen Station on the Canton-Ifankow, 1 loop line being the link between the two centres, The whole distance between the two stations is about three miles and the cost of construetion of the line, including rolling stock, ix estimated at $3,000,000. This sum ix to be largely: borne by the Canton Government, recording to a semi-official source, There is only a gap about 300 miles on the Canton-Iankow Raile way which remains to be built, that distance is completed and it the Joop Hine is built, a passenger will be able to take a train to Hankow from Kowloon and vice vers. By direct communication between north ern Kuangtung and Hongkong, ubout $1,000,000 will be saved each year, as the stop-over and storage of goods in Canton ave both a waste of time and money. From the Hongkong point of view, this pro-, posed loop me is a distinct advan-tame. When this scheme is realized, it ly estimated that both railways will increase their income by $2,000,000 per year.
'The' project is not a novel ide It was first suggested by the Hon) kong Government at the conference with Mr. Eugene Chen in settling the anti-British boycott in 1026. The focal govern ed a loan to construct a loop line and this was proposed as a plan to secure employment for the strikers. The offer was flatly rejected by Mr Evidently inspired and possibly coerced' by the Chinese authorities 118 Chinese and Russian merchant in Harbin have subscribed their names to a representation, which has been filed with the Civil Administration, wherein a naive tempt is made' to shift the blames for last month's slump of the loc paper currency, to the alleged manipulations of foreign banks and business firms, particularly the: Hongkong & Shanghai Banking Corporation. This reputable institu tion is accused of having wilfully depressed the exchange rate, thus disturbing the equilibrium of the money market, The authorities are petitioned to secure the assistance of the Consular Body in enforcing effective measures of control and Mu, Buexax, H, 3
Coxsti. MaksHat L1 Cut-HstN Axo HE. Sim Ceci. Cuaatemy, or Hoxckoxs. supervision, so as to prevent any further drop in the value of the Ignoring the obvious fact that stabilization of an inconvertible paper currency, without an adequate redemption reserve and restriction of issue, is impossiblo—(incidentally the amount of notes in circulation estimated at paper $37,000,000 against a specie reserve of only some $1,500,000)—General Chang. Huan-hsiang, the civil administrator, seems to put his trust in rigorous official regulations, In his latest set of reyrulations he fies the ox-change rate for 100 local paper dollars ut $70 in silver, He pro hibits any exchange dealings cute side the government exchange office, and permits dealing in Yen only by special certificates issued by" the Exchange, The amount of local money which travellers are allowed to carry with them is limited to $500 on leaving Changchun and $200 on leaving the Special Administrative District,
Text read from the printed page and cleaned; old type leaves the occasional error.