The Archive · 1939

China's Currency Situation

Deplorable Condition Criticized by Mr. L. E — Canning at Gas Ca. Annual Meeting

Shanghai, May 3. EFERENCES to the present deplorable state of the currency in China were made by Mr.

L, E, Canning when presiding at the annual meeting of the Shanghai Gas-Ca., Lid. yesterday.

Producing a half-cent note at present in circulation in North China, the Chairman stated:+scan anyone gainsay this is not a clear deterioration of the currency system or that it is not an abuse of the public trust to introduce a system of currency so vulnerable to such menaces Also criticized by Mr, Canning was the conti ued closure of the Northern and Eastern districts. was imperative, he stated, that these should be handed back to full Municipal control as the withholding of these parts could no longer be considered as a military necessity.

Supporting Mr, Canning were Mr. RIN, Joseph, Mr. J. KK. Simpson, on increase of $27,00758 for rents:

Text read from the printed page and cleaned; old type leaves the occasional error.

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