The newspaper points out that the exchange value of the Chinese dollar, as originally fixed, was comparatively high, but because the war had just started the Government authorities feared that a fall in-the value 4 of the Chinese dollar at the time night cause misunderstanding and misapprehension among the public.
The Chinese Government, there. fore, supported the exchange market for two years. I When a country is at war, the journal continues, the most important thing is to bring about a favourable trade balance, and this can only be achieved through:
1. Prohibition of all imports not essential for war needs, and 2. Devaluation of the foreign exchange value of the Chinese dollar.
When "our enemy is attacking the Chinese dollar" the paper asserts, "we make use of this opportunity io devalue the Chinese dollar in terms of foreign exchange."
Text read from the printed page and cleaned; old type leaves the occasional error.