THE HONGE
.
ARTIFICIAL VALUE OF ROUBLE
JAPANESE REGARDED AS
THE INSTIGATORSU
The NC. Daily News Harbin correspondent writes as follows und er date of April 21--
The Easter festival is regarded by Russians as an even bigger "holiday than Christmas, and for days before every household. is buaily engaged in preparing "special Eastern dishes and sweet. meats, This year in Harbin
large
of the proportion Russian population have not been able to celebrate as they are usually wont to, owing to the enormous increase in price of all necessities in life. This increase has been both sudden and unexpected, and is due to the big fall in value of the rouble. It bas actually depreciated over 100 per cent. inside two weeks, and, the natural consequence is that the cost of provisions, fuel and living generally has increased correspondingly.
PANIC OF THE MONEY MARKET. Undoubtedly in the first ins tance the Omsk Government is responsible for the panic created in the Harbin money-market, for it has given the opportunity to speculators, Japanese, Chinese and Russian alike, literally to "bleed" the civilian Russian population.
The Omsk Goverument has de-" cided to withdraw from circula- tion in Siberia the Kerensky notes of Ris. 40 and Ris. 20 denominations, exchanging them for their own issue-Siberian Botes and Siberian Treasury! bonds. The reason why they are doing this is ostensibly because the Soviet authorities in, Russia are still printing in large quantities these Kerensky notes, and that the latter are being brought into Siberia in increas- ing quantities. Is this action. however, justifiable, seeing that the Omsk Government, has no official recognition on the part of the Allies and is at the same time printing its own notes in ever- increasing quantities as well? It must be remembered that the Omsk Government, is only ruling over
some
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15 million people, whilst Keren. sky notes are in circulation among 150 million. If the Omsk Government is overthrown what will become of their notes? In Siberia itself both Siberian and Kerensky notes are in circulation commission is to be appointed to Ports of China and also necessary and accepted everywhere at par, take proper
to bring to all buyers, of goll from Siberi- And the former were actually it
was an mines, that is, being sold
measures into force.. !
::
THE GOLD INDUSTRY.
gradually driving out the decided to suspend all business secretly in smaller and larger Kerensky denomination. In the transactions with foreigners as quantities by Russians, notwith-
possible .as Chinese Eastern Railway area an far A
long standing the fact that the precious entirely different state of affairs as the rouble remained at so low metal is not legally allowed to go exists, for here, though the Keren- a value. On change the fluctua- out of the country.
that take place are sky notes were accepted at par, tions Siberian notes are at à big dis- altogether abnormal, and the
If only the Omsk Government count--12 to 20 per cent.--the wildest speculation is going on would pay the attention due to the reason being that non-Russiane that from Ris. 9 to a gold Yen, development of the rich alluvial living inside this expropriated it has fallen to Rs. 14 a yen all deposits of gold and to the proper zone refuse to accept Siberian transactions being conducted in opening up of mines, it would find notes in all business transactions. other but Rs. 40 and Rs. 20 that in a very short time it could Kerensky notes, which are at a 30 per cent. discount.
20 AND 40 ROUBLE NOTES.
It is true that among Chinese
ONE MEXICAN--TWENTY ROCBLES.
"
WACARONI
TELEPHONE
1186
AGENTS is FOOCHOW, ANDY, SWATOW 224 CANTON.
BRITISH AMERICAN„TOBACCO Go.»
PASTE STARS, EGGNOODLES, VERMICELLI AND ALL KINDS OF SOUP STYFFS-
ALL our Pastes bear the Bosser" label and are made from Flour of the Bes Quality containing a larg, percentage of Gluten. Starch and Gluten are the Glaten is easier to digest and coarsins more principal componente s Flu nutrient than Starch. Kanofactured under the most sanitary conditions.
Lare- quantities have been exported to various important cities in the World.
Termas moderate, especially for Age:cies. Ordets executed promptly. THE HING WAH PASTE MANUFACTURING CO. LTD. Office No. 47 £43, Connaught Road, Teatral, Hongkong, Telephone No. 1123 & 2437 Principal Factory: No. 71. North Soochow Road, Shanghai, hina; Telephone No. 3393. Branch Factory: Wing Hinz Street, useway Bay, Hongkong Cable Address+HINGWAR."
create a large reserve of the pre-deid cious metal, which is to be found in payable quantities in many places.
traders the Ris. 20 and Rs. 40 notes have never been popular and that Chinese banks in Fochia- For a Mexican dollar Rls, 20
Quite recently the mine-owners- lien and other Chinese towns can be obtained! It is the Chinese of the Amur region beld a con- refused to accept same, yet money-changers who, with small ference at Chita and it was de- because they were accepted by transactions, are making money cided to apply to the Government the local Russian banks and, by as they never made before. Their to help them in the matter of all Russian business bouses the tables line the street running obtaining better technical equip majority of Chinese who have parallel to the market or bazuar, ment. The Allies who are now anything to do with Russians and though the changers may be giving the Government so much by the score. all material assistance should · see were always willing to accept counted
are busy from suprise thatthis valuabletboughneglected them in payment of value given.
* victims industry, full of the greatest pos Now no one wants them except to sundown. Their
are "principally Russians.sibilities and capable of improv at a heavy discount, and many. Chinese and Japanese refuse to all anxious to get small change. ing the financial position of the accept them at all. As practi-Russians a riving from Siberia Government within a very shor: cally all transactions in Northern take their Siberian notes to be term, should be tenderly fostered Manchuria
made
Every in changed. The discount rate is 20 by the Omsk authorities. Kerensky's. the amount of these per cent., still they accept simply encouragement and assistance notes in circulation along the because no shops will accept possible should be given present stretch of railway is a very large Siberian notes. Russians resident mine-owners, and inducements one. running into hundreds in Manchuria come with the 40 held out to others to engage in of millions, the Railway itself and 20 rouble Kerensky notes for the enterprise.
no having in hand some 80 million. the same reason, and have to
32 obstacles in the way to hinder That a panic has resulted is not to the be content with Ris
value notes for the the development of the gold be wondered at, for there is an small
rouble Kerensky. insufficiency of other, acceptable 40
With industry, if the Government lends notes on the market once the this drain of small value notes proper support. The decessary Kerensky denomination is taboo-(1, 3, 5 and 10) it is not surprising machinery is obtainable in a very that shops, restaurants, cafes,short time from the United States, સસ્તું.
were
were
There
are
practically
The Harbin Bourse Committee etc. are unable to get enough whilst should there be any have convoked meetings at the small change for their own use, difficulty in obtaining the necess- Commercial Club, which were so they in their turn have to ary Russian labour, plenty of largely attended by businessmen, warn clients they are unable to Chinese and Korean close at L28 well
in give change. Thus it will be band are at once available. as those. terested in industrial, under-seen that all have to patronize
these money Invitations ».
changera who tekings.
ROYAL COLONIAL INSTITUTE... extended to various officials, in transact business, in all cur-
The report of the Council for cluding the military commandant, rencies that are prevalent in the year ended Dec. 31 last shows "the manager of the railway and these parts, and they are legion, that activities have been fully leading civil servants: Many for besides the various Russian maintained, whilst the Institute fozy speeches were made shout issues, which include Romanoff the artificial value placed upon "Kerensky," "Duma" "Siberian the rouble by foreigners," and and Busso-Asiatic Bank notes many suggestions were made as there is the Heilungtang Tha to what course of action was to the Kirin Tiao, the small com be taken The proposition of dollar, the Feiyang and Hong boycotting all Japanese goods, as kong dollar, the gold Yen and the a large hall for meetings, a blamed silver Yen notes Romanoff notes Incheon and dining-room, a few the Japanese
lons are in great demand by the bedrooms and dressing-rooms, as amore than there
her Chinese, and are cop well as considerable additions to oms, star
ready to move forward now that war conditions are passed. Amongst the proposals is the eri- arrement of the premises in Northumberland-avenue. The contemplated additions, comprise
of the sequently at a big premium the library, smoking
the
red with other notes the Separate accommodation for lady,
being that they are members is included
able sent to the Traskyn
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