Waterworks Asks that Foreign Accounts be Paid in Other Than Central Bank Notes The "Central China Post" of July 16 contains the following interesting article on the position of the Hankow Waterworks and Electric Light Company. 5 Foreign consumers of water and users of electric current were cur-prised on Wednesday to resolve a [printed notice from the Hankow Waterworks and Electric Light! Company which read as follows:— notice ign, tre refuting to to cur regret thet of present sankenotes of Hankow arena tale, especially coal and Oi great company has to! pay for all re experienced ip biafnag month, "(dune). the iis' for water legtricty be pald in iver dollars as "they would receive from ni The Mankow Waterworks Electric Light Coy Ld, Hankow, June, 1927.
While we heve a certain amount of sympathy for the management and shareholders of the Waterworks. Company, we cannot but feel that the courage they have now nrustered to express the suggestion that the currency of their Government is us good as foreign money, has: been eruch too tardy to be of any value.
Where is all the Silver?
It. probably is a source of regret to many besides the management of the Waterworks, that foreign firms Fefuse to accept the banknotes of the Central China Bank, and their circular evidences they beginning to realize the fact that if goods have to be purchased abroad, Jor outside the sphere in which Government hi power to enforce its exactions, such goods must be paid for in real money, and unless such goods are sold for money an equivalent value, then there speedily comes an end'to all trade no matter of what nature, Those within the sphere may live for a time by the proverbial "taking in Jof each others washing," or they jate compelled to fall back to a primitive state of exchange and tearter. Coal and oil not forming part of the products of Hankow, there is no possibility of the Com-Pany exchanging their water and feurrent for these essential products. Hence even this system would break down in the ease under review. Whoever.was responsi for the drafting of this circular perhaps unconsciously expressed the foundation of the whole trouble when he or they state that Jdiffculties are experienced in obtaining silver money or dollars." The question that should be asked is, what has become of the silver and the dollars.' People do not ent: silver, and dollars do not into. thin their volition. Even the wild assump. tion that expenses, have been paid in dollars, and that every soldier has received all the pay due to him in silver, does not Jaccount for the curious @eappearrs do not eat dollars any'
other people, and therefore the silver must be in existence Somewhere in the country, The question for the management of the Waterworks and similar organiza-_ tions who find themselves in the same dilemma is where isthe much needed
Text read from the printed page and cleaned; old type leaves the occasional error.