Peiping, May 5, It was decided at the 99th meeting of the North China Political Affairs Commission that Fapi will hereafter be accepted at 40 per cent, dis-discount, according to the local Chinese press, The circulation of Fapi in North China was forbidden by the former Provisional Government, But at Some places Fapi may be exchanged for Federal Reserve Bank notes at a discount of between 60 per cent io 90 per cent, and used to pay taxes at a 90 per cent, discount, In view of the present deprecia: tion of the value of Fapi, it w: deemed necessary to revise the regulations, Hereafter various hsien and villages, in accordance with the situ tion, will be divided into Central, Reserve Bank notes district, Federal Reserve Bank notes district and other districts, In the Central Reserve Bank notes district, the use of Fapi is for-hidden, In the Federal Reserve Bank notes district, government organizations may redeem Fapi at a discount within two} the revised regulations are enforced, In other districts, where peace and order is expected to be established, government organizations may redeem Fapi at 40 per cent, discount and villagers may use Fapi to pay taxes at a rate which is to be fixed at the moment. ut the rate is being fixed cent, discount,—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.