FINANCIAL PANIC.
DISTURBANCES IN MANCHURIA. (bi cable—press association—coftbight.) (aijstealian and n.z. cable association.) SHANGHAI, February 3. The peace of Manchuria is threatened by financial panic owing to the sudden drop of the Feng-piao paper currency, which is issued by Chang Tso-lin, and is not supported by silver reserves. The authorities are employing high-handted measures to compel merchants to accept Feng-piao, and numbers of exchange brokers have been executed for refusing. A hundred shops were closed, and hundreds of merchants are bankrupt. Riots among the troops were barely averted on the promise of payment in silver. The entire judicial personnel resigned and others are following. The city of Mukden is filled with wild rumours. Chang Tso-lin is in a dlilemma. He does not know how to prevent the bankruptcy of the Manchurian Government.
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Bibliographic details
Press, Volume LXIV, Issue 19227, 6 February 1928, Page 9
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132FINANCIAL PANIC. Press, Volume LXIV, Issue 19227, 6 February 1928, Page 9
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