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TRANSLATION
Extract from Goverment dasette of June 18th 1916
Ministry of Communications to Board of Audit.
Bir,
June 14th 1916
634
1
I have the honour to moknowledge the receipt of your letter stating that, as you k ve the duty of auditing tha
accounts of the Banks of China and Communiostious and
sssing whether their receipts and expenditure are in order, you wish to be informed as to the total quantity of notes issued by them at the time speole payment was stopped; whether or not their reserves consist entirely of silver
and what is the real state of their other assets and lia-
bilities, and you request that the Bank of Communications
should be instrusted to prepare a detailed statement on
the subject for the oonsideration of your Board.
The matter was being dealt with when your second
communication to the sake effect was received.
Both your letters have been sent to the Head office
of the Bank of Communications for a reply.
In the meantime, I bar to point out that the Bank
of Communications is a joint stock company with limited
liability. The former Yu Chuan Pu, with a view to
encouraging the progress of communications, took up shares
to the amount of Ku Ping Taels 2,000,000, and this Ministry
is thus in the position of a mere sharsholder.
But se
Article 7 of the statutes of the Bank, published on Varch
16th 1914, provides that "the Bank of Communications shall
take charge of Government Treasury funds in certain
special accounts", this Ministry has on the one hand the
status