D
:
C
COPY.
16f69
Translation.
86
REC? Red 2 JUN S
J. April, 1913.
Extract from Tsun Wan Yat Po, Hongkong, 2ord. April, 1913.
Proposal to redeem the notes now in circulation by means
of Memorial Notes.
On account of the depreciation in the value of Canton Notes, a
few days ago a meeting was held at the Governor's residence to discuss the measures necessary for its remedy, and proposal was made that memorial notes of 3 denominations viz.:- 1, 2, and 3,
amounting to 86,000,000 should be issued after the method in which
postage stamps for the memory of the establishment of the Re-
-public were put into circulation, to redeem to the same amount
the notes now in circulation in Canton. The gl kind of such
notes would bear the effigy of Lai Yuen Hung, the 52 one that of
Sun Chung Shan and that of President Yuen. It was desired that
these notes after their issue would arouse so much sympathy of the people with the heroes that they would hoard them up and preserve them instead of using them as ordinary notes, in order that the present glut of notes in Canton might be relieved. Liu Chung Hoi
has consulted with the Board of Finance at Pekin as to this
proposal and it has been approved by the Board that the scheme
should be first enforced in Kwong Tung on experiment. Some time
ago a message has been sent to Kwong Tung by Liu from Shanghai to the effect that the 3 denominations of notes are being published
by the Printing Bureau under the Central Government, and in a
month's time the Bureau will be able to send 3,000,000 notes to
the Province, and that since the machinery for the circulation of
money has not been restored, it is more convenient that these
memorial notes shall be sold by the Post Office.