CHINA AND MANCHURIA
A FINANCIAL PANIC
(By Electric Telegraph—Copyright) (Australian & N.Z. Cable Association)
SHANGHAI, 3rd February
The peace of Manchuria is threatened by a financial panic as a result of a sudden drop; in Fengpiao paper currency issued by Marshal Chang Tsolin, and which is not supported by silver reserves. The authorities are employing high-handed measures to compel merchants to accept Fengpiao numbers in exchange. Brokers have been executed for refusing to accept, and hundreds of shops have been closed, while hundreds of merchants are bankrupt; Troop riots were barely averted by a promise of pavment in silver. The entire Judicial personnel has resigned and others are following. The city of Mukden is filled with wild rumours that Marshal Chang Tso-lin is in a dilemma as to the best method to pi event the bankruptcy of the Manchurian Government.
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Bibliographic details
Nelson Evening Mail, Volume LXI, 6 February 1928, Page 5
Word Count
139CHINA AND MANCHURIA Nelson Evening Mail, Volume LXI, 6 February 1928, Page 5
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