Anyhow, in the summer and autumn of this year foreign firms managed to obtain supplies of wool from Potow. But as soon as these reached Tientsin the military authorities in North China placed an embargo on the export of wool. The bulk of the wool is said to be in the hands of German firms who have made contracts and paid for it. But up-to-date their protests have been without effect, the military authorities justifying the step on the plea of military necessity. In recent weeks the Japanese in Mongolia have brought in currency control and cargoes can only be exported from there, if paid for in foreign currency the rate of 1s 2d.
It is only necessary to point here io the additional hindrance such a currency must be to trade, as it is not accepted in large parts of the interior, varies at different places, and is not freely convertible into foreign exchange, Further dangers are believed to be threatening the foreign trade of Tientsin, at any rate the import trade. In order to obtain the foreign currency which they want so badly the Japanese authorities are said to be contemplating introducing complete trade and exchange control in North China.
Text read from the printed page and cleaned; old type leaves the occasional error.