As an indication of the efforts of the Central Government in helping to reform the financial structure of}, the provinces, the case of Szechuen may be cited. For some time, this western province, the largest' and perhaps potentially the richest in the country, has been considered as an almost independent region beyond the reach of the national authority. With the recent unification of tary control in that province under the Central Government, the latter has taken steps to give the province a financial "new deal" by helping t0 unify its currency and bring order out of its financial chaos. Provisions' have been made to redeem the out~ standing provincial bonds and paper, money which were issued by the former military regimes and which had considerably depreciated. Measures have also been adopted to unify its currency by making the! Central "Bank notes henceforth the Tegal medium of exchange in that province, Aside from enabling the province to avert complete financial @isorganization, these measures of the Central Government looking toward the stabilization of the finan. cial order will, from the economic point of view, serve as a great impattus in developing industries in China's vast southwest.
Vis-a-vis the financial and currency situation created by the adverse effects of the world-wide economic depression and the rise silver price abroad, the Government has striven to adopt practical measures to afford relief to the business community and the money market.
The Silver Question It is obvious that China's present economic difculties have been and fare Eecoming more acute, although for most other countries the bottom appears to have been reached t-yo or three years ago. The deflationary movement now. occurring in. this country fg reflected in the increasing. value of its currency, in other words, falling prices. World-wide experi-
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