CHINA'S CURRENCY
SCHEME EOR DEFORM DEALING WITH DISORDER SATISFACTION IN ENGLAND By Telegraph—Press Association—Copyright (Received November 5, 0.5 p.m.) British Wireless RUGBY, Nov. 4 Newspapers express satisfaction at the determination of the Chinese Government to deal boldly with the existing currency disorder.
The Times says: "The new scheme should be welcome generally because it promises to put the finances of China for the first time on a solid basis. It, is true tho scheme only deals with the 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: "By instituting a central bank with powers to buy and soli exchange and to keep tho value stable, China is now in line with other important countries." Tho Brink of England has taken stops to provide an organisation representative of British bondholders in the Chinese Government Pail way and other loans. This organisation will bo in a position to negotiate with a view to tho protection of their interests.
Tho initiative has been taken as a precautionary measure in view of tho unsettled state of Chineso exchange duo to tho riso in tho price of silver.
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Bibliographic details
New Zealand Herald, Volume LXXII, Issue 22259, 6 November 1935, Page 14
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199CHINA'S CURRENCY New Zealand Herald, Volume LXXII, Issue 22259, 6 November 1935, Page 14
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