CO129-466 - Individuals - 1920 — Page 12

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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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