CHINA WAR CHEST.
£30,000.000 IN SILVER. TOKIO, Feb. 7 The Japanese Foreign Under-Secre-tary, Mr. Matsumoto, estimates China’s war chest at £30,000,000, from which imports of arms and ammunition and interest on loans can be met. Trade is balanced, in spite of a decline in exports. China, he said, could pay her way internally by banknotes, but the amount of specie held aboard would dictate foreign payments. After the nationalisation of silver in 1936 China had shipped all that was available to London and New York, the total value being £73,000,000, of which £43,000,000 was expended for the above-named purposes.
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Manawatu Standard, Volume LVIII, Issue 74, 24 February 1938, Page 9
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99CHINA WAR CHEST. Manawatu Standard, Volume LVIII, Issue 74, 24 February 1938, Page 9
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