Manchuria Its People Resources And Recent History
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; Japanese war, silver notes, 1§ per cent. ; Russo-Chinese Bank, rouble notes, 3 per cent. ; and the notes of various banks of Tientsin and Shanghai, Ij per cent.
During the last few years the creation of Govern- ment banks has been made a means of raising Gov- ernment revenue, and these in turn have issued large quantities of paper notes. The Government bank of Mukden has issued in the four years of its existence $4, 080, 000 worth of notes. There has been no attempt to redeem them, nor has th...ere been any considerable amount of these notes with- drawn from circulation. The Government of Kirin province issued approximately $6, 400, 000 of tiao notes, so that the total amount of Government notes in the district outstanding at the close of 1908, expressed in United States currency, was about $10, 480, 000. I The paid-up capital of the Provincial Govern- ment's bank of Mukden at the end of 1908 was $2, 685, 405 United States gold, with a special reserve 151 MANCHURIA fund of $222, 664. Granting that these two accounts, aggregating $2, 908, 069, are in such form as to act as security against the bank's outstanding notes, there are still $1, 171, 931 worth of Government bank notes in circulation for which there is no apparent security.
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To quickly assess the difficulty of the text, read a short excerpt:
; Japanese war, silver notes, 1§ per cent. ; Russo-Chinese Bank, rouble notes, 3 per cent. ; and the notes of various banks of Tientsin and Shanghai, Ij per cent.
During the last few years the creation of Govern- ment banks has been made a means of raising Gov- ernment revenue, and these in turn have issued large quantities of paper notes. The Government bank of Mukden has issued in the four years of its existence $4, 080, 000 worth of notes. There has been no attempt to redeem them, nor has th...ere been any considerable amount of these notes with- drawn from circulation. The Government of Kirin province issued approximately $6, 400, 000 of tiao notes, so that the total amount of Government notes in the district outstanding at the close of 1908, expressed in United States currency, was about $10, 480, 000. I The paid-up capital of the Provincial Govern- ment's bank of Mukden at the end of 1908 was $2, 685, 405 United States gold, with a special reserve 151 MANCHURIA fund of $222, 664. Granting that these two accounts, aggregating $2, 908, 069, are in such form as to act as security against the bank's outstanding notes, there are still $1, 171, 931 worth of Government bank notes in circulation for which there is no apparent security.
What to read after Manchuria Its People Resources And Recent History?
You can find similar books in the "Read Also" column, or choose other free books by Alexander Hosie to read onlineMoreLess
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