Final Examination Made by C.P.C, Committees Nanking, Mar, 16.
Final examination of the bill for the reorganization of the Central Bank of China Into the Central Re serve Bank of China was made this morning at a joint meeting of the Finance, Economies and Codification ecommitiees of the Central Political The bill will be brought up for approval at the next regular meeting ff the Council, following which, it is Jearned, it will be referred to the enactment, a Logistalive Yuan for passage and
Laborious work was entailed in the preparation of the draft law for the Central Reserve Bank following the announcement on November 3, 1935, by Dr, H. H, Kung, Minister of Finance, that the Ceniral Bank "is to be reorganized as the Central Reserve Bank of China and will be owned principally by. the banks and" the In essence the Central Bonk will be reorganized to function as a bankers' bank and will become an independent institution, "devoting itself chiefly to maintaining stability national' currency.
It will hold the reserves of the banking system "and act as the Gepository of all public funds, and will provide centralized rediscount facilities for ther banks, Tt will not undertake general commercial business, and after a. period of two years it' will enjoy the sole right of note issue.
Two high offciais of the Central Bank arrived here from Shanghai this morning, in connection with to-day's discussions of the bil 'They are Mr. Jian Chen, deputy Governor of the Bank, and' Mr. Hei 'Teh-mou, General Manager of the Banking' Department of the Bank.—Central News. jing committee of the National Economic Council, may accompany IDr. Kung to London to attend. the Srtwel coronation, according to information from unofficial sources. The party 18 Jexpected to sail from Shanghai on April 2 aboard the Victoria.
Text read from the printed page and cleaned; old type leaves the occasional error.