CURRENCY REFORM

Evening Post, Volume CXX, Issue 111, 6 November 1935, Page 9

CURRENCY REFORM

PRAISE FOR CHINESE SCHEME

(British Ofllclul Wireless.)

RUGBY, November 5,

City Editors of newspapers express satisfaction at the determination shown by the decree issued by the Chinese Government last night to deal boldly with the existing currency disorder. The comprehensive scheme adopted embraces financial and budgetary reorganisation, currency reform and stabilisation, nationalisation of silver, and the establishment of an independent central bank having sole control of the note issue.

"The Times" says that the new scheme will be welcome generally because it promises to put the finances of China for the first lime on a solid basis. It is true that the scheme deals only with machinery, but it is drawn up in accordance with the most modern practices and the most successful principles of banking organisation.

The "Daily Telegraph" says that by instituting a central bank with powers to buy and sell exchange and keep values stable China is now in line with other important countries.

Such or ihc cmlilc neirs on this pare us is ™ headed hus appeared in "The Times," am) is i-abled to Australia and Koiv 'Zealand by special ncrraisaloa It should he understood lli.it tlie oplninns arc not those of "l'ho Times" unless expressly stated to bo so.