Search America's historic newspaper pages from 1789-1925 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the
National Endowment for the Humanities and the Library of Congress. external link Learn more
Image provided by: University of Illinois at Urbana-Champaign Library, Urbana, IL
Newspaper Page Text
FIRST DOLLAR BILL OF NEW CHINESE REPUBLIC
Bt;"yM7l'?''''w o.',J,t:' ""''f'' jgfrO
Sung Man Yung, director of finance of the new revolutionary;
government, said in an interview printed in the China Press: "We
have three projects in hand for raising money. First, the revolu
tionary government at Shanghai will inaugurate a bank with a
capital of $5,000,000. The proposed bank will issue $5,000,000 of
bank notes with securities, not mere, paper dollars. The govern
ment will make these notes legal tender in all business exchanges
"Secondlv, the. revolutionary government will issue government
bonds to the value of $10,000,000 ($5, $10, $50, $100). They will be
redeemed in six years and the interest bearing upon these bonds will
be 12 per cent.
"Thirdly, money will be and as a matter of fact, has been, raised
by voluntary contributions. Already a great sum of money has
been realized as a result of the many energetic and sympathetic citi
zens of the coming republic of China."
The dollar here shown made its appearance on Nov. 21.