PAPER MONEY SLUMPS
MANCHURIAN PANIC. T TGH HANDED MEASURES. ? Pres® Association—Copyright, Australian and N.Z Cable Assn. (Received 12.30 p.m.) SHANGHAI, February 3. The peace of Manchuria is threatened by a financial panic caused hy a sudden drop in the “fengpiao” paper currency issued by Chang Tso Rin, which is not supported by silver reserves. The authorities are employing high handed measures to compel the merchants to accept "fengpiao” and numbers of exchange brokers were executed for refusing. A hundred shops are closed and hundreds of merchants are bankrupt. Troop riots were barely averted on the promise of payment in silver. The entire judicial personnel resigned, and others are following. The city of Mukden is filled with' wild rumours, and Chang Tso Lin is in a dilemma as to how to prevent the bankruptcy Of the Manchurian Government. a, J
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Stratford Evening Post, Issue 82, 4 February 1928, Page 5
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139PAPER MONEY SLUMPS Stratford Evening Post, Issue 82, 4 February 1928, Page 5
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