Commercial Federation's Letter to Liang Shih-yi The Shanghai Commercial Federation has written to Mr. Liang Shih-yi informing him that his former crimes will be pardoned if he will agree to the following conditions and see that they are carried out 1.—Telegraph to the Chinese delegation in Washington giving instructions that China should demand that the Customs Tariff be revised to secure an effective 12 per cent.
2.—Order the reduction of troops and see that only 20 per cent. of the national income is used for military expenses.
3.—Order the abolition of likin stations and other such institutions which tend to harm merchants, The letter continues:
"Tf you can have these three conditions put: into effect, we will sing songs in your praise, but if you prove yourself only to be a tool of the military men and issue bonds, negotiate loans and cause the people general sorrow, then we will fight you to the bitter end."
Text read from the printed page and cleaned; old type leaves the occasional error.