Peiping, Mar. 10.
The _long-heralded "Federated Reserve Bank was opened here last week amid a certain amount of pomp and circumstance and a great fusillade of crackers. Posters were put up in Gifferent parts of the. city showing fortunate depositors coming out of the new bank flourishing in their hands some of its brand new notes, 'a5 proof of the happiness and prosperity which the new currency is confer on north China.
These new bank notes which were printed by the Bureau of Printing and Engraving here are of rather unwieldy size, but not bad-looking The. portraits of famous Chines rulers of "ancient times serve, no doubt, as a reminder of the aims the Hsin "Min. Hui (New People's Party) which are to gestore the golden age in China. Mord interesting is the five-clawed imperial dragon, looking out coyly from behind clouds at the banner of the Rising Sun.
Despite the celebrations at its inauguration, the new currency has not had avery good reception. All that likely to do, would seem to be to complicate still further the already sufficiently dificult currency situation in the north. 'The public seems regard the new currency with certain amount of suspicion, and the old notes, I understand, are not being' handed over in as large quantities had been expected. Nor is this surprising, seeing that, despite all the talk about the new bank having suff. lent financial backing, it refuses to sell foreign exchange against the new notes.
Text read from the printed page and cleaned; old type leaves the occasional error.