London, June 23.
Far Eastern currencies are discussed at length by financial writers. 1t is generally agreed that the recent depreciation in the value of the Chinese dollar, combined with the present crisis in Tientsin, severely shook confidence in China, resulting in a flight from the dollar. Hence, it is stated, drastic restrictions were necessitated. 2 City bankers, however, interviewed ty Reuter, entirely discredit rumours that the Stabilization Fund has been unduly strained. Some believe that the Control is still playing a farsighted game, designed to squeeze out speculators.
"The Times" states that the problem of controlling the exchange of currency in China under the existing circumstances is "incredibly more complex than that met by exchange controls in other parts of the world." The surprise is, the journal goes on. that China is able to preserve her currency exchange in face of such obstacles without even more drastic restrictions.
The "Financial News" declares that the reinforcement of the existing Japanese restrictions does not surprise Far Eastern circles in Londo where it is believed that Japan's gold and foreign exchange is rapidly nearing a point of exhaustion.
The journal declares that it is believed that Japanese actually is conniving at the growth of an unofficial market in yen. hoping to stimulate invisible exports, for example, the tourist traffic. by encouraging the use of the depreciated Yen.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.