The amount of the Fund is large in relation to any demands that are likely to be made thereon, and it should be well within the power of the Committee which will administer the Fund in Shanghai, to maintain stability in the exchange, or control the rate as it desired.
The Japanese attempt to force the Federal Reserve Bank currency on Worth China must be viewed with considerable concern due to the possibility of a break-down in the ordinary mechanism of North China's foreign trade, "The Times" con tinues, but there is little reason t: think that it will present a serious problem for the defence of the Chinese dollar.
The establishment and working el the Stabilization Fund has nothing to 4o with many financial measures which the Japanese have attempted. nor has this step been taken for any political purpose, says the paper. It would certainly be difficult for the British Government to contemplate with equanimity, the addition "1 serious exchange troubles to othe: difficulties which already have heavy!; diminished Anglo-Chinese trade.
Text read from the printed page and cleaned; old type leaves the occasional error.