The Archive · 1934

China Denies Silver Export Embargo

Nanking, July 2

An ofelal denial was issued tolthy of tne recent reports that China was contemplating putting embargo""on, the. export of Silver or reducing the silver come lent of the standard over dollar The denial, issued by the iniscy'of Finance, characterises the rumours os" "baseless Reuter Information to the effect that international speculators were making large shipments of the white metal fo indefinite foreign destinations.

As an. instance, Mr. Morgenthau lied a heavy shipment for "London or Bombay," indicating, he added, outright speculation rather than legitimate business.

The Treasury learned of another shipment labelled "Shanghai to Vancouver" and, concerning the return of which, Mr. Morgenthau stated that such speculative movements might have repercussions or Shang-

Prof. James Rogers, who is at present investigating the silver situation in China for the United States Treasury, had reported that the Union States Government purchases

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

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