(Nederlandsche Handel-Maatschappij, N.V. Amsterdam)
Rival Currencies The danger to the Chinese legal tender dollar from rival currencies circulating within the country is by no means passed. For months the Federal Reserve banknotes floating about in the northern markets were quoted below the Chinese dollar; the premium in favour of the latter was at one time 30 per cent. To-day the position is reversed, since Federal Reserve Bank notes stand at a moderate premium vis-a-vis the legal tender dollar as quoted in Shanghai. This means that holders of the northern notes, who cannot at will exchange them there against foreign currencies, might at any time enter the market as" buyers of Shanghai money for the purposes of acquiring
Text read from the printed page and cleaned; old type leaves the occasional error.