Agency regarding the currency situa~ tion, Dr, Kung, said:
"During the past few days rumours were current in the market to the effect that the Government intended to mint new silver dollars the silver content of which is to be one-third of that of the original silver dollars, this being interpreted as devaluation of the Chinese currency. Such rumours are absurd and have been created entirely in the interest of speculators.
"The public should know that Jrince November 3, 1935 the value of the Chinese currency has been divorced from the silver price in the world market, Tt is determined by its reserve in gold and foreign ox-change. It is common knowledge that metallic coins are merely token coins to take the place of legal tender notes. The metal used and its welzht fand fineness in a coin have nothing to do with the monetary value of the coin, "For instance, in the gold standard countries, token coins are made of silver, nickel or copper. Their monetary value is decided by the coinage Jaw and not by the market price of
Text read from the printed page and cleaned; old type leaves the occasional error.