Jan. 17.
Pourticatty and financially China fared neither very much better nor very much worse during 1921 than could have been expected. In certain of these respects she seems to have come out of the year actually better than she deserved. Various crises were overcome with a very small margin of safety, and while two principal outbreaks of civil war took place during the year they were successfully localized notwithstanding appearances that the whole country might go up in a
Text read from the printed page and cleaned; old type leaves the occasional error.