FINANCIAL PANIC MENACES MANCHURIA.
L»y Telegraph—Press Assn.—Copyright. Aus. and N.Z. Cable Association. (Received February 4, 1 p.m.) SHANGHAI. February 3 The peace of Manchuria is threatened by financial panic owing to the sudden drop of the Feng-piao paper currency, which is issued by Chang Tsolin, and is not supported by silver reserves. The authorities are employing high-handed measures to compel merchants to accept Fengpiao, and numbers of exchange brokers have been executed ' refusing. A hundred shops were closed. and hundreds of merchants are bankrupt. Riots among the troops were barelv 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. Chang Tso-lin is in a dilemma. He does not know how to prevent the bankruptcy of the Manchurian Government.
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Bibliographic details
Star (Christchurch), Issue 18380, 4 February 1928, Page 2
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135FINANCIAL PANIC MENACES MANCHURIA. Star (Christchurch), Issue 18380, 4 February 1928, Page 2
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