The situation in regard to the exportation of rice from Shanghai is indicated in our Notes on Native)
Affairs io this issue, and although nothing further has transpired there seems to be matter for congratula-end tion that the bodies in Shang-{hai most interested have taken steps to safeguard the future food supply. The present situation has been created through the abolition of the tribute rice formerly sent from Shanghai to the capital, and while as a consequence Peking finds herself face to face with a possible shortage, it means for Shanghai the prospect of a more fully assured supply than before and perhaps cheaper prices.
Shanghai had formerly to send to Peking 1,000,000 piculs of rice yearly, but the revolution has done away with this, and in its place taxes have been imposed, coming to the same thing as far as the tax-payer concerned. Wit s month or two Peking would be receiving part of this tribute rice from Shanghai, but this year there is none to go, unless merchants export it as a matter of trade. In anticipation of @ shor-jing from the new order of e authorities at Peking time ago notified Shanghai of probable requirements, and Mr. Ivan Chen, Commissioner for Foreign Affairs, issued a proclamstion inviting merchants to export rive to the capital. It was as a result of this proclamation that the Chinese Chambers of Commerce and the Guilds interested took action.
Bitter experience has taught the people of Shanghai how easy a prey to the speculator their rice market is. Time and again in the past a shortage has been made the subject of a corner by these sharks, and prices have been forced up to prohibitive figures, enough almost to bring starvation to the poor. The Chamber of Commerce and other bodies now wish the Government to sanction a scheme whereby after rice has reached a certain price no export of it to Peking will be allow- the new loan for £10,000,000 was ed. Their idea is that in times of plentiful harvests and cheap rates
Text read from the printed page and cleaned; old type leaves the occasional error.