Word: yuan
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...Introduced a new gold yuan in an effort to stop inflation...
China's new Premier, Sun Fo, stepped gingerly from a shiny black Packard at the entrance to Nanking's green-tiled Executive Yuan one morning last week. Leaning on a cane to take the weight off his left leg, from which a two-pound tumor had recently been removed, he limped up three flights of stairs to an unheated conference room,'where his cabinet waited formally to assume office...
...great Nationalist sortie from Suchow had failed. Three army groups set out a fortnight ago to break through the Communist encirclement and link up with government forces to the south (TIME, Dec. 13). By last week one entire group-General Sun Yuan-Hang's Sixteenth, with 40,000 men-had been completely wiped out. The remaining troops were huddled into an area ten miles in diameter of flat, marshy land 50 miles southwest of Suchow...
...grey-walled rail town of Pengpu on the Huai's south bank, to set up a new operational base. Deputy Commander Tu Yu-ming led the march overland with three "army groups" (about 110,000 combat troops), commanded by Generals Li Mi, Chiu Ching-chuan and Sun Yuan-liang. The leader of a fourth army group, General Huang Po-tao, was left a suicide on the field where his 90,000 men had been encircled and cut to pieces. Behind the withdrawing Nationalists, over Suchow's blasted ammunition dumps and supply depots, 8,000-foot pillars of black...
...halted by the municipal government's "discovery" of 1,300 tons of rice hoarded outside the South Gate (apparently by an unnamed government agency). This cache was distributed to rice shops and a rationing system instituted. At the same time new currency regulations temporarily stabilized the plummeting gold yuan and provided for the issuance of gold and silver coins...