The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-08-28
CHINA's NEW CURRENCY.

: The close relations OF China with this
/ Chinese to show 10 the United States
| their appreciation OF the spirit of jus.
! ticc and fairness with which this coun-
| try dealt with China in the matter of
/ the Boxer rebellion Indemnity. arc in
evidence constantly. The Chinese Gov
ernmcnt sent d hundred of their noblest
youths TO American colleges and uni
versities for their education. upon the
return OF that indemnify Dr. Sun Vat
Sen has sent his three children TO the
Stanford University of California; and
! it is to the United States that China
looks for protection more than to any
other nation in the world. This is be.
cause the United States has made it
abundantly clear to China not only that
it has no aggressive designs of its own,
but that it will oppose any aggressive
designs upon Chinese territorial integ
rIty from whatever quarter they may
come.
Accordingly in material matters
China is looking more and more to the
United States for guidance and instruc-
tion. China has designated our former
| United States ambassador to China,
Mr.. Rockhill, for its political adviser,
and looks to him and an American pro.
fessor on civics and to the longtime
correspondent of the London Times in
China, for guidance in shaping her new
| bn
three foreigners so chosen the United
States has two A more complete ex-
ample OF friendship and absolute trust
could not be given than this.
Undoubtedly, if the United States
would take upon itself alone the fnan.
cling of the new Republic. China would
be glad to borrow the money from us
but there is so much complication with
the other five powers that the China
men are suspicious, and refuse to take
some two years ago got a loan of
! 50,0000 900 for the purpose of issuing
new currency and minting new COINS.
This new currency issue has all been
| printed in the United States. The notes
will be in dollars, and Will bear in
English on the face and in Chinese on
the reverse the denominations which
I they will represent. The notes will be
81, So SO. $40, and 800. They will
be printed on Planchette paper, and
| will be up to the most modern ideas of
| perfection in note printing. The like.
ness of Ii Hung Chang was upon the
older issue Of Chinese notes; but upon
this new issue a portrait Of Muences,
who lived about $50 years after Con-
fucius and was the first great disciple
of that leader to advocate the princi-
| pies Of self government, will appear.
| There is established also the Bank OF
China, which will bear the same relation
to the Great Republic of China as ex~
lists between the Bank Of England and
the British Government. President D.
c. Woo, of this bank, signed the contract
with the American Bank Note Company
| for printing the notes, The Bank Of
! China will take these notes and will
take up the currency issue OF the old
| Ia Ching bank.
Thus China will presently reipstate a
paper currency. China was the first ma
| tion in the world to use paper money,
such issues having been known from
the earliest times, but some 400 years
! ago the use of paper money was abol-
! lshed and il was resumed only about
! four years ago. when the American
! Bank Note Company printed the notes
I for the Ia Ching Government bank.
| The new notes are to be delivered to
| the Chinese Government during the
present month, and are supposed to be
! already on the way across the Pacific