Panic in Manchuria
VALUELESS PAPER MONEY HUNDREDS BANKRUPT By Cable. —Press Association. — Copyright. SHANGHAI, Friday. The peace of Manchuria is threatened as the result of a financial panic following the sudden drop of the Feng Piao paper currency issued by General Chang Tso Lin, and not supported by silver reserves.
The authorities are employing highhanded measures to compel merchants to accept the Feng Piao currency. Numbers of exchange brokers have been executed for refusing. Hundreds of shops are closed and hundreds of merchants are bankrupt Troop riots were barely averted by the promise of payment of wages due in silver. The entire judicial personnel has resigned and other resignations are following.
The city of Mukden is filled with wild rumours concerning Chang Tso Lin’s dilemma and method of preventing the bankruptcy of the Manchurian Government. —A. and N.Z.
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Bibliographic details
Sun (Auckland), Volume I, Issue 270, 4 February 1928, Page 9
Word Count
138Panic in Manchuria Sun (Auckland), Volume I, Issue 270, 4 February 1928, Page 9
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