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10 2.
144
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.Y % 0
.s.mivori
A
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AQ SHOD O
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notes which were in stock and put them on the market, but first chopped them as mentioned above. At the same time a proclamation was issued stating that all the notes of the old Government then in circulation must be presented within a certain period to be stamped with the Republican chop, after the date of expiry of that period no notes would be recognised except those having this chop. It is estimated that up to date the new Government has issued notes to the extent of $16,000,000 this with the $4,000,000 of the old issue which the new Government agreed to recognise
makes a total at present outstanding of 820,000,000. So far as is apparent there is no reserve against these notes unless the Government floating cash balance can be so designated and this is
estimated to be:-
Sub Coin
Bar Silver
In Treasury
舞
In Mint
$1,700,000
480,000
360,000
Lon
#4
சன்னார்
MOLA
A I GOT A ZON
***
Jij bed daha
jdoh we w00,000,0I%
jedimaćedro turni
o i udon CUM ON GRAVAI
82,540,000
=-=-=-=-=-=-==
In addition to this the Government are reported to have $1,000,000 on Fixed Deposit with Native Banks but it is doubtful if this can be considered liquid.
The new Government are reported to have coined to date at the Kwangtung mint sub coin to the value of 9 to $10 millions and it is understood they will continue minting. The only direct advantage accruing to the local Government from these operations, is the profit on the minting, as I believe they accept the silver from Merchants and Native Banks giving them back the resulting
coin.
I should mention that the foregoing figures are merely a rough estimate based on information gathered from local sources, no really accurate or reliable figures being obtainable.
Apart from the disturbed state of the Province which handicaps the free movement of Herchandise the general undertone so far as trade is concerned seems fairly good and commercial and
financial conditions might soon return to a normal state were it
not
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