CHINA’S TREASURY
ABSOLUTELY EMPTY REVENUE MORTGAGED FOR YEARS. SHANGHAI, January 14. (Received Jan. 14. at 11.30 p.m.) Sun-fo, son of Dr Sun Yat Sen, one of the leaders of the new Nanking Government, told representatives of the Chinese press that the Treasury was absolutely bare, and that the revenue is mortgaged for years to come. An emergency national council is being formed. A later message says that Chinese bankers met and protested against the proposal to declare a moratorium for domestic bonds. In view of the seriousness of the situation a few of the leaders remaining in Shanghai are proceeding to Nanking to endeavour to establish government by commission.
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Otago Daily Times, Issue 21543, 15 January 1932, Page 7
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109CHINA’S TREASURY Otago Daily Times, Issue 21543, 15 January 1932, Page 7
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