If our information is correct, perfect boom in the establishment of business exchanges is taking place in Shanghai. Recently we mentioned that one for the conduct of business during the night had been proposed, and it seems to be only one of several which are springing up with one object or another in view. The danger which all these institutions mean to the community is not to be underestimated. For instance in the Customs report on the trade of Shanghai for 1920 reference is made to the Chinese Produce & Stock Exchange, and it is pointed out that although a considerable amount of business is said to have been done and handsome profits made, the transactions were mere speculations. in market prices and no merchandise was actually handled. Now, of business on all these new exchanges is going to be conducted on these lines, we shall be faced with a very, dangerous situation, for speculation in such circumstances is almost
Text read from the printed page and cleaned; old type leaves the occasional error.