SILVER PURCHASES
American Agreement With China (Received May 19, 10.10 p.m.) Washington, May 18. Mr. H. M. Morgenthau, Secretary to the Treasury, has announced that agreement has been reached with China for the purchase of substantial quantities of silver from that country, the proceeds of which will be maintained chiefly at New York, and will be used strictly for Chinese currency stabilisation. The Chinese Minister, Mr. Sze, issued a statement that arrangements have been made to "assure continued maintenance of an independent currency system in China not linked with any foreign unit.” The purchases, which are the result of protracted conferences between Chinese and American officials here, will be made at the world market price.
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Bibliographic details
Dominion, Volume 29, Issue 199, 20 May 1936, Page 11
Word Count
115SILVER PURCHASES Dominion, Volume 29, Issue 199, 20 May 1936, Page 11
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