3431
M Vermutsee
15/1
a them to CR
CR.
•
CANTON CURRENCY.
RECENT INCREASE IN
VALUE.
[FROM OUR OWN CORRESPONDENT.}
CANTON, May 25.
The recent smashing victories of the Government troops in the North and the evacuation of the
"Iron- sides "
and a big part of the Kwangsi troops from Kwangsi have had a considerable effect upon the financial situation in Canton. The value of the Central Bank of China notes has arisen during the last few days from the neighbourhood of 70 per cent. to 85 per cent. of silver. Considerable buying is going on, and it is expected that a further. rise in value will take place.
The Provincial Government has an order for the redemption of the Central Bank of China notes of the $100 denomination, beginning to- morrow at the Government Deposi- tory. Like those of the one dollar. denomination, no restriction will be made in the amount to be redeem- ed. This leaves only those of the fifty, five and ten dollar denomina- tions unexchangeable for silver at par value. The Government ex- pects to redeem these in the very near future when the coffers in the Central Bank are replenished.
The Government Mint is working as usual turning out approximately $300,000 in silver daily. Silver bullion is being bought constantly from abroad for the purpose.
HK Weekly Preis 30 Ray
Plattach b
pp.
Mont
18