The Archive · 1928

Subsides: Bank Notes Appreciate in Value

Frost Our Own Connesroxen Canton, June 19, A greater feeling of security prevails in Canton than for many a moon. Vigorous prosecution of. the radical element has sent'the Reds and would-be Reds scurrying to places of safety, and the frequent: imposition of the death penalty for ordinary robberies.and even pickpocketing has reduced erime'to a minimum, Of late, arrests of enemies of the government and of those holding extreme political views have fallen off, but the city prison is still pretty well packed with those taken raids some days ago. Confusion has been spread among the communists by a new tactic adopted by. the police, that of concealing the identity of persons who fall into their traps. As soon as a radical is caught, a bag is used to cover his head and hide his features, "And the names of those who are pub-liely executed are not published, and are known to but a few at the Bureau of Public Safety. the Central Bank notes' are regain ing conside of their former times lately, though momentarily, it is-true, they have attained 90 per cent. of their old-time value, At this writing, they are fetching about 87 cents, on the dollars, and the tendency is towards improvement.

Albeit the price of these notes ig steadily climbing, due largely to the fact that the Government, is Keeping out of circulation all that come into its hands, a high official told the writer only' yesterday that, at this time it is quite impossible'for the Treasury to consider redeemitig Central Banknotes at par. A schette that should meet with popular favour, however, is being seriously considered. If it is put into operation, anyone may deposit his payer currency in a Government bank, anid he will be repaid in silver coin at the rate of twenty per cent. per month, Interest on outstanding bat-ances will also be paid by the Treasury.

Text read from the printed page and cleaned; old type leaves the occasional error.

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