"British ce-operation with China at this juncture indicates an increasing awareness of the fact that Western interests, at home as well as in the Far East, can now be best maintained by the fullest legitimate support of China," Dr. Quo Tai-chi, Chinese Ambassador to the Court of St. James, commented today upon Sir John Simon's announcement in the House of Commons.
"The British Governments announcement of a joint Exchange stabilization fund for China doubly reflécis China's solvency alike in her finance and trade and in her territorial administrative scope.
"This arrangement will be warmly welcomed in my country not ohly for its immediate help but also as evidence that the community of Anglo-Chinese interests is to be protected," Dr. Quo concluded.
"Financial Times" Comment "Welcome from all points of view" is how. the "Financial Times" termed ihe British Government's decision to guarantee China's, new Equalization Fund.
"For British traders in the Far East and for British holders of Chinese bonds, this is cheering news indeed," the paper added, "for the interests of both are closely bound up with the maintenance of the currency's stability. Though the necessary sterling resources will actually be provided by two Chinese Government banks and two British banks operating in China, the establishment of the Fund has been made possible only the indispensable financial guarantee from the British Government. At first sight, it might seem that even the stabilization credit must indirectly assist in the import of armaments and have a military significance. In fact, every precaution has been taken to ensure that this is not the case.
Text read from the printed page and cleaned; old type leaves the occasional error.