One of the measures adopted by the Japanese authorities, in order to protect the F.R.B. currency, in competition with the National Currency of China, which is still the only one recognized by the foreign banks, is the so-called "Link System". Goods can only be exported and imported against Customs permits issued by the Federal Reserve Bank, to whom the foreign exchange bills have to be handed over, which are then calculated at the "Link" rate which has a clear view of the situation. In one public interview by financial members of the China Affairs Board it was stated that up to the end of 1939 the Federal Reserve Bank had issued notes to the value of a little over $400,000,000.
To cover this there were specie reserves of: Gold Bullion Account $28,000,000 and Silver Bullion Account $16,000,000, ie. a total of No matter how dilapidated your furniture might be, the addition of new Tapestry Covers will enhance their appearance tremendously. We have a large collection of truly exquisite pi es in the loveliest multi-coloured needlepoint embroidery that will enchant you.
Text read from the printed page and cleaned; old type leaves the occasional error.