Tientsin, Mar. 24.
Reports from Peiping that banks affiliated with the "Federated Reserve Bank" would transact limited foreign exchange business on the basis of fourteen pence have, hitherto, not been substantiated, as local banks decline to sell against Federated Reserve Bank notes, alleging that no instructions have been. received, Rumours are in' circulation that some negotiations are in progress, from which some "daylight" may be seen in the not distant future. At present, however, the position Is unchanged, with no cover avail-abie against Federated Reserve Bank notes.—Reuler, against cover, which is now remarkably small, and companies, such as oil companies, are only selling goods while the "Provisional Government" has "now resorted to advertising declaring is notes good and urging the people to accept them.
The Government is also using the police force, who are now visiting all houses to persuade the populace to accept the notes—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.