Dec.
The Government has given Dr. LIH. H. Kung unmistakably firm support in denying the various rumours set afoot regarding the currency crisis. First Mr. Wang Ching-wei declared that the Gov-
Jernment would on no account consider such "impracticable measures" as the "nationalization of silver" or the "devaluation of the Jdollar." Now General Chiang Kaishek has emphatically shown his desire to dot the i's and cross the of the previous official pronouncement. The Generalissimo does rot usually intervene in financial matters. He regards them as Joutside his province. His clear association of his own authority with that of Mr. Wang Ching-wel should, therefore, be peculiarly satisfactory to Dr. H. H. Kung whose difficult position evokes. sympathy and whose firmness in resisting specious proposals for short-cuts to safety has, therefore, been rewarded. Dr. Kung hisaself has been blunt in his latest official reference to the rumour-monvers, He indicates that, where detected, such mischievous folk wilt be suitably dealt with in order to preserve stability in the financial market. It may be suggested that this invitation can be most effectively accepted by following up lines of evidence which the resources of his department should not find it dim cult to develop. He has rendered a distinct service by so frankly recognizing the danger of these rumours. The matter may be left there. Dr. Kung har no reason to complain of "any difldence in General Chiang Kai-shek's statement. Specially is it pertinent to note the terms in which the Government's silver export tax is defended by the Generalissimo:
Owing f0 the discrepancy between the world price of silver and the price in China, which has developed, in recent months, it has been Profitable to export silver from) China. "As a result, a large amount of silver has been trans
Text read from the printed page and cleaned; old type leaves the occasional error.