Peking, Jan, 11.
The financial stringency in Peking. has forced upon the Government defined demarcaal factions in the Cabinet than is usually consistent with the round-about methods employed in political matters.
It has been understood for some time that Mr. Chow Tze-chi, Minister of Finance, had ex hausted the Government's credit in the native banks with which he—personally enjoyed friendly relations and also those with whose sponsors he was politically affiliated. It has also been tood that Mr. Chow was determined to resign but that ne could not abandon the Ministry until the critical New Year period had been passed. The one function of a Minister of Finance is to rais¢ money to meet the expenses of the military, in the first place, and the expenses of other departments of the Government. Failing this, no matter how abl. and honestly he might administrate such moneys as he was able! to raise, he is considered a failure.
In this sense Mr. Chow is a failure, he ig not in a position te] see the Government through the New Year season and yet he cannot resign until it is past. The only recourse for the Government is to shelve him. to permit. him ito retain the title of office, while someone else exercises the function of turning bad credit into good bullion.
Text read from the printed page and cleaned; old type leaves the occasional error.