CHINESE CRISIS.

Hokitika Guardian, 31 October 1921, Page 3

CHINESE CRISIS.

CHINKSE CRISIS RREAKDOWX

" THE TIVttK *’ SKHVKT (Hcft’ivod This !):iv ;it SMO n.m.) I’KKI X’. Get. 2!)

Coverument have reaelied a financial bedrock. It is besieged by foreign and Chinese creditors on all sides. Fifty millions Mexican dollars short loans, contracted at twenty to thirty per rent. | are due to native banks, and the sa- I la lies of Ministers are many months in arrears.. X'n funds are available to j pay expenses of the delegation to Wash- ; ington. The Government's clt"i|ues on : lueal hanks are dishonoured. Troops 1 . t -iintinmi Ily fruitlessly demand pa>- ! incut.. It is more than hinted that tin- Government may cense it s him - ; I Lions, and sumo Ministers liaye disap- | peared to escape the storm. The posij tion of native hanks in I’ekiii, Tientsin and Shanghai, are precarious owing to ' Government's inability to meet tin* ‘crisis, which seems imminent. Frantic endeavours arc being made to raise fresh local and foreign loans at usuri- \ mis interest. The financial difficulties combined with political chaos, are so serious, that a fundamental collapse is inevitable, unless unexpected aid is forthcoming,