Administration (NICA), and the other issued by the Bank of Java before the Japanese occupation. In order to reduce the money supply, Sjafruddin announced on 10 March 1950 that all NICA and Bank of Java notes with a face value above 5 guilders were to be physically cut in half a policy known as the "Sjafruddin Cut" (Gunting Sjafruddin). The left halves of the notes remained legal tender until 9 April, with a nominal value of half its face value, and were to be exchanged with new notes, while the right halves were exchanged with 30-year government bonds yielding 3 percent. The same "cut" also applied to bank accounts, with half of all bank account values (excepting an amount of 200 guilders for accounts with less than 1,000 guilders) being transferred into a government loan account. According to Sjafruddin in a later interview, beyond reining in inflation, this also served to create uniform legal tender for the whole country and remove unwanted Dutch currency from circulation. The Bank of Java claimed that the policy reduced the money supply by 41 percent, and that the prices of food and textiles still rose in 1950 after the execution of the Sjafruddin Cut. Both the foreign exchange certificate system and the Sjafruddin Cut invited significant criticism from the political opposition. This was especially the case with the cut, which was constantly attacked by PKI. It also caused controversy due to the dating of the order, which happened at the end of the month, when most salaried workers still held cash. Government income increased during Sjafruddin's early tenure, but expenses also rose, and he failed to close the government deficit. Indonesian government finances later improved during the Natsir era due to a boom caused by the Korean War, resulting in a budget surplus. In this period, the "Economic Urgency Plan" was devised by minister of trade and industry Sumitro Djojohadikusumo, against Sjafruddin's opposition, to develop import substitution industries and restrict some industries to native Indonesian entrepreneurs. Despite the improving financial situation, Sjafruddin maintained strict budgetary controls by retaining an unpopular colonial-era tax, refusing to raise salaries of civil servants, and rejecting calls to provide funding to political parties. His unpopularity was compounded by the retention of a number of Dutch officials who held significant powers within the finance ministry. After Sjafruddin's tenure ended, he was replaced by fellow Masyumi member Jusuf Wibisono in the