It is inevitable that the war should have brought about an increase in the cost of living Tt is also natural that certain classes should be more seriously affected by the war than others. But, on the whole, the war has brought about no very serious change for the worse in the local situation, Trade has -dwindled down to small proportions, doubt, and economies have had to be adopted in business and private life. But, it should not be for gotten that a large body of for eigners of all nationalities has left Shanghai for the home countries—in the case of Germans to Tsingtao. That has certainly car ed the situation. Besides, most of the local producte are unaffected by the war. The Chinese suffer because of the stoppage of trade, especially of exports. But, in spite of the closing of a number of silk filatures, there la no large body of unemployed among the Chinese, All signs at present point to improve. ment, rather than otherwise.
Text read from the printed page and cleaned; old type leaves the occasional error.