Tientsin, Dec. 29.
Up to date the new currency in North China has not been a success. it is perhaps symbolical of the rather slap-dash way in which it was introduced that the foreign name, Federal Reserve Bank, which appears also on the notes themselves, is a mistranslation of the Chinese words Lien ho. It should have been Federated Reserve Bank, meaning the federation of the various banks un North China. whatever to do with Federal Gov-It has 0 ernment, In introducing a new currency on the establishment of a new regime the Japanese can be said perhaps to have been following the precedent of Manchoukuo, not to mention the al. kind of thing that had been going on Now "Arry ain't got a owk.
Text read from the printed page and cleaned; old type leaves the occasional error.