50 Years Ago

CANTON (May 23): NATIONALIST China's gold yuan currency to-day became worthless in Canton when even black market operators declined to handle it. This followed a 250 per cent fall in terms of the Hongkong dollar in a period of 24 hours.

That fall brought the nominal quotation this morning to 30,000,000 gold yuan to HK$1, but later in the day no figure was obtainable. Public utilities, among the last to use the gold yuan, to-day decline to accept the notes. Buses for the first time demanded fares in Hongkong cents or their equivalent in subsidiary Chinese coins.

These coins, which have recently been put into circulation, are of aluminium and copper base.