Word: yen
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Having resonantly declared his independence of the Nationalist Government fortnight ago (TIME, April 14). General Yen Hsi-shan, "Model Governor" of Shansi, moved rapidly last week, seized the entire customs receipts of the city of Tientsin, with the exception of the 5% assigned the city by the Nanking Government for liquidation of foreign and domestic debts. There will be left some $4,000,000 a year for Yen...
...potent Chinese who thus sounded basso profundo last week was Yen Hsishan, hairy-chested "Model Governor" of Shansi province, the man who has kept his own province peaceable while civil war has festered the rest of China, the leader of this year's spring rebellion against the Nationalist Government...
...countrymen stand up and work for the Chiang's overthrow," he continued, "and I, Yen Hsishan, will do my best to assist in the consummation of this task...
Despite Governor Yen, the word "Nationalist" has come to sound in Chinese ears with something of the comfortable air of establishment which Vermonters give to "Republican." To make his cause still more respectable Governor Yen announced last week that he had assumed the rank of "Commander in Chief of the National Army, Navy and Air Force." Meantime, 15,000 of his National troops were invading Shantung province. There they soon defeated a number of Nationalist soldiers near the city of Tingyuan. Worried President Chiang Kai-shek of the Nationalist Government in Nanking prepared a major counteroffensive...
Today the enormous sum of at least 40,000,000 yen ($20,000,000) constantly "floats" in these gift certificates, making them a sort of extra-legal currency, backed by no security and fraught with such danger that the Imperial Government has become alarmed, launched an investigation. Small shopkeepers, their business ruined, charge that in fact more than 200,000,000 yen floats in gift certificates, the ignorant public receiving no interest, while the big stores invest and fatten on the money...