Bankers' Petition bargo: No Prospect of Relief Weonesoay, July 20. In the course of a joint petition to the Nanking Nationalist Govern-the Shanghai Chinese Bank-'Association and the Native! jankers' Guild are reported to hava requested the lifting of the embargo on silver coins.
Shanghai, the writers say, is the intro of China's finances but, owing! to continuous warfare, business. had dropped considerably und finances have been thrown into a state of! confusion. The present embargo ix adding to the difficulties of doing iwusiness, The Chinese are obliged, to remit their money to the out ports through foreign banks. Taking advantage of the situation, therefore, foreign bankers, on one hand, fare refusing to accept native orders and are demanding hard cash, and, the other, they are shipping ver away from Shanghai on board their gunboats, The result is evident. Prices rise. The financial market is thrown into a _pan'e. Moreover, business is done in Shans:- hai with the dollar as the basis, 20 the dollar it will be impossible to do business, the petition says. Shanghai's imports are greater than its exports and, that} being the case, the lack of' hard cash to meet the demand will mean the killing of China's foreign trade. The Government will then suffer because there will be a shortage ut revenue. For the Chinese there will be nothing but suffering and loss but the foreigners will lose nothin. The Government, therefore, is asked to take notice.
The Government, however, is said another report to be determined to enforce the embargo and will punish Persons who conimit offences against the rules governing it.
Text read from the printed page and cleaned; old type leaves the occasional error.