A dispensation has been reached (the model the French Government have in view is apparently the currency system and level of exchange of the British Government) at which a stable currency can be introduced based on a token coin of say 12 grammes fine silver or half the fineness of the present piastre.
It is anticipated that the export of rice this year from Indo-China will constitute a record and that the balance of trade in favour of Indo-China will approximate Piastres 2,000,000,000 viz:-
Exports about Piastres 2,500,000,000 to Piastres 3,000,000,000
Imports about Piastres 1,000,000,000
Consequently, a large demand for notes with which to finance the excess of exports is probable, and the Banque de l'Indo-Chine signifies its willingness to supply the requirements for notes of other banks in Saigon at the same rate of exchange as it pays to the French Government, provided that the transactions which the notes are intended to finance are strictly commercial.
The Banque de l'Indo-Chine, it is understood, is under an obligation to the Government to provide notes only for trade purposes and in order that the Government may satisfy themselves in this respect the operations of that Bank are to be open to inspection, and it is a condition governing the supply of notes to other banks that the inspection by the Government shall be extended to such other banks. Any bank found to be financing operations of a speculative, as distinct from a commercial nature will be deprived of the privilege of obtaining notes at the official rate of exchange.
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A Disap edi
has been reached (the model the French Government have in view
is apparently the currency system and level of exchange of the
„traits Government) at which a stable currency can be
introduced based on a token coin of say 12 grumses fine silver
or half the fineness of the present plastre.
It is anticipated that the export of rice this year
from Indo China will constitute a record and that the balance
of trade in favour of Indo Chians will approximate
208 2,000,000,000 vis:-
Experts about
Pas 2,500,000,000 to Pas 3,000,000,000 Imports about
Pos 1,000,000,000
Consequently, a large demand for notes with which to finance the
excess of exports is probable, and the Banque de l'Indo Chine
signifies its willingness to supply the requirements for notes
of other banks in saigon at the same rate of exchange as it pays
to the French Government, provided that the transactions which
tài notes are intended to finance are strictly comercial.
fha banque de l'Indo Chine, it is understood, is under
as obligation to the Government to provide notes only for trade
purposes and in order that the Government may satisfy themselves
in this respect the operations of that Bank are to be open to
impection, and it is a condition governing the supply of notes
to other banks that the inspection by the Government shall be
extended to such other banks. Any bank found to be financing
operations of a speculative, as distinct from a comercial
nature will be deprived of the privilege of obtaining notes at
the official rate of exchange.
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