London, May 3.
Resignation to the inevitable is the attitude of\Far Eastern circles regarding the fresh slump in the Chinese dollar, It is confirmed, says the "Financial News," that there has recently been a marked expansion in speculative activity against currency, and maintenance of the rate at 4%d. has resulted in an increasingly heavy strain upon the remaining resources of the Chinese stabilization fund. "It is believed in London that the recent weakness of the free pound' has encouraged speculative activity against Chinese exchange, which, for some years, has virtually been linked to the pound, the journal adds, Bankers point out that the vast unchecked issue of Chinese notes must continue to frustrate efforts to control and maintain exchange, but it is generally agreed that the chief trouble is the excess of imports over exports, What level the dollar will ultimately reach, "more in keeping with China's general foreign trade," is the subject of painful speculation.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.