an Experts Invited to Supervise Two experts from the American Bank Note Company, which hitherto has printed all Chinese banknotes of more than $1 in value, are said to have been invited to Shanghai by the Ministry of Finance, to. supervise operations at a new $1,500,000 printing plant, which will be opened. here. It costs a bank 70 cents to. produce and bring here every note of a denomination of $5 and over, while the $1 holes can be had for 20 cents, One of the experts invited here is it to be Mr. H. F, Behn, Sale of Notes Controlled Reports published in the Chinese Presson Friday that the Finance Ministry proposes to establish a banknote printing plant in Shanghai, with a capital of over $1,000,000, and with American technical assistance, and that the sale of banknote paper al-randy is a Government. monopoly were modified by officials of the Ministry when questioned yesterday.
was pointed out that, for the pur-ose of preventing the printing of unauthorized paper currency, the Finance Ministry recently issued an order instructing the Central Trust of China to take charge of the paper imported by China for printing banke notes. Any bank in China wishing to use the imported paper for printing notes must apply to the Finance Ministry for permission. Having given its permission, the Ministry will instruct the Central Trust to release the imported paper and the quantity will be decided according to the needs the parties concerned.
present, banks print their notes of $1 or higher denominations foreign countries, only subsidiary notes being printed in China, When printing company receives orders for the printing of notes, they. will have to apply to the Central Trust (which already has started its fune~ tions) for the purchase of the paper required and the Trust will investi-fate whether this has received the approval of the Finance Ministry before releasing the banknote paper to the printing company. This will enable the Government to prevent the printing of unauthorized paper money, but it is different from a Government monopoly.
Regarding the establishment of a ]Government-controlled banknote print-jing plant, Chinese ofMcials stated that recently a proposal was approved by the Ministry for the removal of the Ministry's printing bureau In Pel ping to Shanghai, This bureau will be enlarged after its removal and will receive all Government orders for the printing of banknotes, docu ments, ele, Nothing definite, however, was mentioned and the local agents of the American Banknote Company, two exports of which were said to have been invited to China, refused to say anything on this point when questioned.
Text read from the printed page and cleaned; old type leaves the occasional error.