SLUMP IN SILVER
CHINESE LOSE HEAVILY CHAOTIC FINANCIAL CONDITIONS. PANIC AMONG SPECULATORS. (United Press Assn.—By Telegraph—Copyright.) Shanghai, January 9. The Nanking Government is considering measures to deal with the chaotic financial exchange situation created by the slump in the price of silver, bringing ruin to many foreign merchants and firms. There is panic among the exchange speculators, and numerous suicides, including that of Szechunyu, a nephew of China's Minister at London. Plans to halt the further importation of silver into China are being considered by the Chinese authorities. Officials estimate that the Government’s losses already amount to £10,000,090. Prices are soaring locally for imported goods, and hundreds of small merchants have been wiped out. Unemployment is spreading.
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Southland Times, Issue 20979, 11 January 1930, Page 5
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117SLUMP IN SILVER Southland Times, Issue 20979, 11 January 1930, Page 5
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