Excellent Results Obtained on Kuangtung Currency Canton, July 12, When Mr. 7. V, Soong, the Minister of Finance, visited Canton some days back, he conveyed to the local authorities the assurance of the National Government that Keangtung would have its backing ly ite effort to put the provincial currency on a Instingly solid basi With that encouragement, a start was made, already productive of excellent results. Albeit the notes of the Kuangtung Central Bank had dropped very much in value, they sxe now forging ahead, and th. government optimistically bredi that by August 1 they will have recovered parity.
On July 11 the government doyusitory in Canton released the fist block of new notes whids gradually will supplant the depreciated paper money. This new form of paper emreney is Jevother lot of ved-backed Central Bank notes, of which some $80,000,- '000 were circulated last yenr. but with the addition of the signature Dr. of the recently Superintendent, Mr, Chou Man-chok. The bills come in denominations of $1, $5, $10: there are to be no $50, $190 or §500 notes, such 'a3 were always issued before.
Mint Working Peverishly For about a month, the Canton' Mint has been reepered, and a fu%l force has been working feverishly coining a vast amoout of twenty cent pieces. The entire month's output, the government declares, to be held intact asa reserve, 80 that from the "day of issuance the pew lot of Central Rank notes will ko worth their face value. The verbal capacity of the mint is $200,000 a day, so that a simple calculation makes it plain that by this time there must be $6,000,000 subsidiary coins stored away in the government's coffers, agains: which an sequel amount' of "red tacks" are to be circulated.
Just prior to the outbreak of hostilities between Kuangtung and Fumgsi, in a desperate attempt to Eeevent the rapid fall in paper-Treasury agents went from eto store in Canton, making
Text read from the printed page and cleaned; old type leaves the occasional error.