"We ove well aware that China is confronted with many difficult pro lems at the present time. The Chinese Currency Stabilization Board was established to deal with the fnanlal problem. But if Chinese currency to be stabilized the range of econ~ femic questions in which we must in= terest ourselves Is vast. For the for-ign exchange value of Chinese cur~ Fency can in the ultimate be no greater than its internal purchasing Stabilization Board Starting Work Chungking, June 22.
The Chinese Currency Stabilizatiot. Board Is collecting information about economic conditions throughout China, It is learned that members of the bootd will shortly leave Chungking for the provinces.
The board held a conference yesterday afternoon and exchanged views with Chinese economic expert cluding representatives of the C Bonk of China, the Legislative Yuar the Joint Board of the four Govern: ment Banks and of the Central Political. Institute, Mr, A. Manuel Fox, the American member of the Stabilization Board: appealed for assistance and ce-opera~ ton on the part of Chinese economic Sino-Burmese Border power, "'Such problems as inflation and rising prices, the continued emission ff bank notes, seareily of food, necessity' of Increased production of milit~ ry supplies and goods for the peop! transportation difMulties, and bott! necks in exports of essential raw materials, such as tungsten, antimony, tung. all, and importation of wat materials, the programmes for taxa-{lon and Anancing of Government expenditure, must occupy our attention, Ready Made Solutions "We have ready-made solutions to offer, But our take will be made immeasurably easier if we have the full cooperation and assistance of all mem= bers of this conference, In the days to come we shall certainly call upon your various governmental ministries and agencies for statistical informa tion, research assistance and advice, We''may from time to time suggest changes and modifications in your economic machinery here and there. Such recommendations will! be made only after careful study and we hope they will be found practical Tu turn we trust you will have no. hesitation ing your views known to the Goard, Ours is a united effort in wihleh there is neither time nor place For petty' bickering, personal jealous: ies or myopic reforms in_times of peace public officials in China and elsewhere could leisurely pursue antiquated methods and practices but today in time of war we cannot afford such Iuxuries, Now and more modern methods must be employed even though it involves making mistakes and giving unintentional offence, Leaders must have the vision and' courage to impose the mow taxes based mainly on ability to pay, The tax system must be cen Wralized. Personnel must be advance on the basis of merit alone and not through political connection of social standing. There must be a well or ganized and unified system of budgetary control, Full disclosure of the Government's finances is an essential feature of democratic Government, "My brief stay in China has already made certain definite impressions on me, First and most important I hav been impressed by the grim determination of the Chinese people to preserve their independence in the face of tremendous obstacles and ditt~ culties, As long as the Chinese nation fs untied it, cannot and will not be vanqulshed."—Reuter, Stabil ation Committee Chungking, June 17.
Following the arrival of Mr. Manuel Fox. American delegate, the Sind-American Stabilization Committee has started work, Several Chinese experts have been appointed {0 assis, Mr, Fox. bessies the three official Chinese members of the Committee, Messrs, T.M. Hi. XP. Chen, and Fsuyee Pel—Havas Telemondial, Chungking, June 18.
An exchange of notes between the Chinese and British Governments on the delimitation of the Sino-Burmese frontier took place here at 5 am, today, One nots defines in detail the tne which Is te be the frontier between Yunnan and Burma, and another note defines the boundaries of an area en jo of tke frontier in Burmese Government agrees to permit Chinese participation any. mining enterprise which may be undertaken by British concerns Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.