The Archive · 1939

Attempt to Eliminate Non- Essential Imports Behind Recent Drop in Dollar

Chungking, June 10.

"The Chinese Government's fixed policy is to maintain a currency adapted to the national economy, and capable of serving freely as a basis ior legitimate transaction." declares a statement on the exchange situation issued by the Ministry of Finance is policy," the statement goes is in no way changed by the action of the Stabilization Fund Committee in temporarily withdrawing support from the market, which action naturally has the approval of the Government.

"The lack of equilibrium in China's balance of payments has been gradually developing.

"Recently, there has been a considerable increase in imports, much of which were non-essential, "The readjustment of the exchange level will help to correct this, and produce healthier conditions,"

Text read from the printed page and cleaned; old type leaves the occasional error.

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