Hslaoyangehien or small, silver coins, now withdrawn from elreula~ tion in the Kwantung Leased Territory, are probably being actively smuggled abroad where the steady rise of bar silver is an attraction. This conclusion was reached following the revelation that hardly 60 per cent. fof, the ¥.1,800,000 ofeials of the Kwantung District Government had calculated on collecting in Dairen were turned in during April. Tt is pointed out that early in April, from ¥,70,000 to ¥.80,000 worth of' these sliver coins were redeemed but that fatter the middle part of the month their surrender to the Government sharply declined to about ¥.2,000 to ¥.3,000 daily. The total amount col-Jeeted in Dairen for the month amounted to only Y.850,000.
"The Government purchased altogether "¥3,740,000 worth of these dis credited coins from April 1 to 30. They fneluded ¥.1,100,000 from the Pulantien Administration Office, 'Y.900,000 from Chinchow, ¥.500,000 from Pitzuwo, ¥300,000 from Port Arthur.
Text read from the printed page and cleaned; old type leaves the occasional error.