The Archive · 1936

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Canton, June 18.

The Kuangtung authorities are re-Yiably understood to be contemplat-Ing the adoption of the "big dollar" og Canton's currency unit in the following three stages:—The Central Government will give Xuangtung a special appropriation of '$10,000,000 to cover losses resulting from the changed currency and, meanwhile, the notes of Kwangtung Government banks are to continue circulating, Kuangtung's silver stock will be placed under the control of the note issue supervisory committee, whicn would be authorized to buy 30,000,000 "big dollar" notes from Central Government banks with an. equivalent amount of silver. Kwangtung banks will gradually recall their local notes.

After all local notes have "been recalled, only big dollar notes will be legal tender. Subsidiary notes, however, will be issued by local Government banks—Reuter,

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

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