The course of events during 1924 ie outlined in the report and I feel it ix only necessary to refer to the iwry tyranny which exists pretty well throughout the country, respect have the military have a strangle hold fon the rolling stock of most railways and their revenues as well With the advent of Tuan Chi-
Provisional President it wi ceted that out of chaos would sure of peace and good:
bout disappointment has fol-Towed disappointment, and although 1 Reorganization Conference has been meeting in Peking for some weeks no apparent progress hay. yet been made towards the desired end, and I fail to see how the Conference, unattended by the Military Tuchuns, who virtually control the Provinces, will succeed in arriving tata workable solution of the cliff cult problems with which it is confronted. spite of military oppression, handitey and illegal taxation the trade of China continues to increase if the Customs figures for 1924 five taken as an indication, but the tardy ogress inthe of th vast possibilities this is disheartening to all of us.
Text read from the printed page and cleaned; old type leaves the occasional error.