Tokyo, July 19.
Financial observers here today attributed the slump in Chinese currency to the following causes:
1. Suspension of remittances from overseas Chinese owing to the instability of Chungking dollars; 2. Stoppage of outgoing trade under the jurisdiction of the Chungking regime owing to the occupation or blockade of all important seaports by Japanese forces; 3. Exhaustion of the exchange stabilization fund which totalled £10,000,000 at first but which now has been depleted to only £1,000,000.
To stabilize Chinese currency, total circulation of which is estimated at $2,000,000,000, observers said contributions from overseas Chinese, increase in trade and financial assistance from Britain were necessary.—Domei.
Text read from the printed page and cleaned; old type leaves the occasional error.