Peiping, Apr. 2.
With the North China market flooded with the depreciated Nationalist currency, official of the "Provisional Government to-day intimated that parity between these banknotes and the Federal Reserve Bank money would be suspended.
Taking advantage of the parity ruling, anghai speculators were said to have sent here thousands of dollars worth of banknotes issued by the Central Bank of China, the Bank of Communications and the Bank of China, The broadcast, which was in German, said that it was a "breach of trust and loyalty for the Church to issue a statement on political matters. The enemies of the Church may rejoice at this apparent breaking of the ranks, but all good Catholics will judge it at its true value. No faithful Catholic need feel obliged to support this judgment of the bishops. All men of goodwill "would consider this attachment of the pastors to secular power as lacking in dignity and fidelity."
The broadcast also condemned "that tale Catholicism when believers, tired of the fundamental teaching of God's word, embraced nationalism while the pastors short-sightedly joined the victorious ones of the day.
The attack caused a tremendous stir as it is unprecedented in recent history. It is thought that Cardinal Innitzer can hardly continue to hold his post in the face of such severe condemnation.
Parity was to be maintained for three months after the establishment of the Federal Bank on March 10, the 90-day period being used for the exchange of the Nationalist currency for new banknotes, The authorities are now studying steps to check speculative transfer of money from Shanghai to North China.
Thus far, $20,000,000 in Nationalist currency have been exchanged for the new banknotes, The disposal of the accumulated Nationalist banknotes has not yet been decided by the authorities—Domet
Text read from the printed page and cleaned; old type leaves the occasional error.