Peiping, May 1.
Difficulties, which are being experienced by the Federal Reserve Bank in holding up the value of its Currency in North China, have increased rather than decreased.
National currency was quoted at a premium of 33 per cent. today, and it was generally expected that the premium would go much higher.
The fact that notes issued by the Federal Reserve Bank are exchanged at par by Japanese banks means that a 1s.2d. yen may be purchased with a 6d. Federal Reserve dollar—this being today's market rate.
In addition, it is learned from very reliable sources that large quantities of the newly-issued National currency from Chungking are filtering into North China, via Shansi and Suiyuan, much of which has already been seen in Peiping.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.