Peiping, May 25.
New notes of the Bank of Hopel appeared in the city this morning in pursuance of the order announced on. Saturday by the Hopel and Charhar Political Council making this bank the sole note issuing institution in the two provinces.
Dated 1994, however, they were printed by the Bureau of Printing and Engraving at Peiping two years ago, but hitherto had not been used.
The full effects of the order cannot be guaged until details of the scheme have been worked out by the Council's Economic Commission, but it is tenerally felt to represent a first step towards an independent cur-Feney system in Hopel and Charhar.
Banking circles, however, are not perturbed by the development, The order, it is noted, does not prohibit circulation of notes of the three Central Government banks—the Bank of China, the Central Bank of China and the Bank of Communications—but merely states that the note Issues of banks other than the Bank of Hopei must not be increased, One Chinese banker said he understood this to mean that, although the Government banks could not issue more notes locally, there would be no restriction on the circulation in Hopel and Charhar of notes of those banks Issued elsewhere, for instance in Shanghai.
An unconfirmed report is also current that a large) amount of silver handed over by foreign banks to branches of the Central Government banks here has been transferred to. the Bank of Hopel—Reuter. is; Live and let live, In other words, we want the right of national existence for ourselves as well as ihe establishment of the principle of ce-existence and ce-prosperity in the comity of nations. We are making a supreme effort to ensure our own security. We also earnestly desire all. interested Powers will jointly strive for the consolidation of peace in eastern Asia,"—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.