Appeal to Foreign Bankers to Assist Authorities Apropos of the proposal to restrict reckless gold speculation, the Commission for the Reorganization of Commercial Organizations has add-teased letters to the local Gold Exchange, the Chinese Bankers Association and the Foreign Bankers Association, requesting them to assist the Chinese authorities in restricting goal speculation so as to]
the value of the yellow] the] metal from continuing to rise, The letter says that four renvedial measures in connection with Seren Go study their ey-|ailver slump were recently deckeled upon at a meeting: held by the Commission and native bankers and ts, These were Inter sub-ted tw the Ministry of Finance]
Ministry of Industry. Com.
and Labour for approval. A there measures was publishese columns several days General opinion concerning the! Jilver crisis, the letter says, attributes the continuous rise int the value of gold to reckless speculation and ome people propose to impose res-frictions on gold speculation as the remedy. But, continues the Com-n, it is not easy to pass judg. mert on this question owing to its] complicated nature. Nevertheless the normal ratio between the price fof world's commodities and the gold] value is about two shillings and the recent rise in the value of gold by Ts, Gl. is apparently due to heavy eaid speculation involving huge sams. of money. In order to prevent] speculators from creating an unfavourable situation, the Commission suggests that restrictions should be imposed on sgold speculation to those who are not engaged in export or Import trades because such specula-not a necessity to these]
Tu conclusion, the Commission requests native and foreign merchants to assist the Chinese authorities in this, respect so that the value of gold may he prevented from further tnt. Lin Chang-ken has issued a circular, denouncing the! people of the United States whom, he! lieges, have enforced a policy of jon" in China by absorbing recklessly a large quantity' of old, of which there is no urgent need in their country, from China. The writer compares the U.S. JGovernment with the former German Kaiser and says that the latter tried] to oppress the world with his guns while America it now trying to do same with her money.
According to statement made by Shanghai banker, to the "Sinwanpao," the amount of gold purchased by Chinese in Shanghai during the past ten days is estimated at over My. D. K. Lica, the well-known!
and stati
Text read from the printed page and cleaned; old type leaves the occasional error.