Three Houses Each with a Special Purpose: Dr. Kung on Efficacy of Equalization Charge Mr. T. V. Soong, Chairman of the negative when questioned whether the Government would place an em-argo on silver exportation.
"The object of the Government in the: recent. Increase in 4ts interest in ihe Bank of China and the Bank of Communications was to. ce-ordinate these two. banks" with' the Central Bank of China on polley. This action was not directed at any person or persons, so T came into the Bank of China as Chairman of the Board 9 Directors, without bringing a. single man. with me. T do not intend. to Tran "in anyone, The tuff of the Tank of China realize the attitude of the Government and are continuing use the same loyal service 3
"Before the recent change was effected, there were some people who thought that the Bank' of" China Wwould suffer from a ess of confi: dence, but this has proven unfounded, It'is a fact that there have been withdrawals from either the head fice or any of our, branches, and Rew deposits are continuing to come {eas usual.
"tt Is the purpose of the Government to make. the Central Bank 2 'Banker's panic' the Bank of China foreign trade bank, and the Bank for Communications bank specialize ing in Idustrialization. Tk willie the alm of the Bank of China to avoid completion with: the Central 'Bank of China, so far as Governme business ts concerned. 'The Bank of (China will direct its attention entirely towards business, devoting ite expecially "to the' assistance of the export tradi "The Government has no intention lot turning the Bark of China into 9 purely governmental bank, which Trdicated by the fact that the three pew managing directors, in addition to myself, are Mr. Chien Yusming aizistant. general, manager, of the Joint Savings Society, Me. Yeh Chur-Yang, and Mfr. Wonk Pao.lun, both focal finaneters, Mr. Sung" Han. chang. was specially picked for the [post of General Manager because of His long experience in banking and his firm stand at the time of the Yuan Shin-kat moratorium."—United
Text read from the printed page and cleaned; old type leaves the occasional error.