At a first superficial glance the idea of introducing a perfectly new currency in North China appeared to be a brilliant piece of financial strategy. It looked as if, with one stroke of the pen, four quite differ-oni objectives could be attained:—
Smash the Chinese National currency, thus inflicting on the Government Chiang Kai-shek a mortal blow, politiip to pay for the war by issuing paper, money of no value for which the hinese have to pay with goods.
Introduce the thin end of the wedge in bringing China into the yen bloc.
By means of the exports of North China provide the Army with the foreign exchange of which they are in such desperate need.
Text read from the printed page and cleaned; old type leaves the occasional error.