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CENTRAL CHINA DAILY NEWS, 1ST APRIL, 1940.

MINISTER OF FINANCE ISSUES STATEMENT ON

FINANCIAL POLICY OF (NANKING) GOVERNMENT.

311

Mr. Chou Fu-hai, Minister of Finance, in a statement issued on 31st March, says care will be exercised to pursue a financial policy in accordance with the general administrative

policy of the Government. The eight cardinal points of his financial policy are as follows:-

(I) Stabilisation of Finances.

In order to avoid losses

which the population would otherwise suffer, there

will be no interference with the currencies in circu-

lation. Steps will gradually be taken, however, to

improve the situation and to standardise the country's

currency and place it on a sound basis.

(2) Honouring of Loan obligations. All foreign loans

contracted before the return of the Government to

Nanking will be honoured. The nature of the various

loans will be taken into consideration in deciding on

special measures for their amortization.

When peace

throughout the country has been achieved, steps will

be taken for the early amortization of domestic loans.

(3) Readjustment of National Revenues. The Customs adminis-

tration has lacked vigour since the outbreak of hostilities

and steps will be taken for its reorganisation to effect

an increase of revenue.

Measures will also be taken to

improve the situation as regards salt revenues and for

supplies. The Consolidated Tax being one of the most

important national taxes, its collection will receive

careful attention and corrupt measures will be eliminated.

/(4)

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