Referring to the question of what level the Chinese Government will accept os a reasonable rate for the Chinese dollar im terms of foreign currency, the "Chungking Joint Dally News" states: "This fs a most complicated problem, depending on China's trade situation and also the International currency' situation, Consolidated Loan Not To Pay Interest Chungking, July 19.
Interest on the Chinese Govern ment's Consolidated Gold Loan, due on July 31, will not be paid, a spokesman of the Ministry of Finance announced today.
This loan falls under the provisions of the Finance Ministry's declaration of January 16 In which it was announced that interest and sinking fund requirements of bond issues secured on the revenues of the Chinese Maritime Customs would not be met so long as Customs revenues were diverted from the Chinese National Government, the spokesman
'Should bondholders, however, artes. A range with banks to discount' the Interest coupons of these bonds, the Government, of course, would not object, the Finance Ministry's spokes man added—United Press.
"Under preset conditions, when the Chinese currency reaches'a level which makes it impossible for the Japanese to absorb our foreign Repayment of Customs Th conclusion the newspaper urged the Chinese public not to be alarmed over the exchange situation, and ives an assurance that, the' Chinese Government has a fixed policy and programme concerning currency d volopments—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.