The views of so eminent an authority as Mr. Mazaji Yoshida, former manager of the Mitsui Bank on the subject of the Hua sing. Ca tral China must always be accepted as authorit~ ative, and it is quite possible that much of What he says may in the end turn out to be correct, He is, however, very wide of the mark when he says that on May 1 the "North-Chin Daily News" suggested that the Japanese were creating the new currency in order to make up for their failure with FRB, notes in' North China. This journal said nothing of the sor nor did it in any way connect the two facts, though it did dilate upon the failure of the euro rency manipulations inthe north, The. view expressed in Japanese circles that the Federal Reserve Bank and the Hua Hsing Commercial Bank were two separate and distinct institutions has always been accepted, though it enn also. with justice be assumed thatthe failure. of FRB notes persed to the Yen is the venson why the Hus Hsing Commercial Ban notes will be apparently linked up with National currents, How ar that linking will prove effective only the course of time will show, but surely Mr. Yoshida is being rather more than optimistic when he suggests that "should the tap depre ciate greatly' as a result of the iMlwill, or the ancial stringency of the Chiang Kaleshok regime, the new currency will automatically ain popular confidence and serve the public by giving evidence of ts stability, but, other wise, the yo currencies. should exist. side-by-fe." If that means anything at all i means that the new currency ix only posted on the National currency 0 long as the latter remains at about its present value. "Should it depreciate the former would have to stand by itself, and there is. very little at present to. justify the belief that "it. would prove itself" a better medium than that which It Is secking 10 rephuce, Historic Amoy Wy. which has been projected into the in= anal diplomatic limelight by the events vecupied last week by Japanese naval forees, ix historically one of the most interesting cities in, China. 'Kelangsu, where the International "Settlement of vis situated, is venerally mentioned as the island Sut the' city of Amoy also ow an stand a the mot of the Pei Chi, or Dragon River, and its lu story has involved the ules of buccaneers and. a political and. military ers including the Manchus, the Long-Ilave Rebels, the Dutch and the Japanese, After they were driven from Ningpo by the Chinese, the Portuguese settled there in 15H, ud a century. later Koxinga, the Chinese paiciotepirate and defender of the Mings, made it his base, A to the Rev. Philip Wilson Pit In "And About Amoy." Koxinga of the main island to. remembers the Mings." ually established his. headquarters def Kulanssu, opposite Amoy and ironsides," and possessed hegemony' over the pirates. 1 the coast he claimed a force of 00,000. mer It ly related: training, dis amen, wed a shone Hea tine siter of thie stone and with for his-oven bedyiuard named They. were iven masa carried hows and arrows ainted i Heat "and cen strip tang: handied Swords "for Statiomed horses lee When he later Amoy. opened to forei Se'tlement at Kulangst, Drum Wave Islan, One historical legend Amos which produced the Boston anid the re, with a normal popula sand 40,000 Chinese, is administered by an international municipal ottncil of eight, lin GR. Bae, Stew Chief of Police and the Police 140 strong.
Text read from the printed page and cleaned; old type leaves the occasional error.