In the first and interesting communication which we publish in another column from our own correspondent at Shanghai, a disquieting tale is told. Throughout the Chinese crisis there has in some quarters been a wholly unwarrantable optimism as to the state of British trade in China, Tt has been commonly said, "chaos in China do ndt matter, The Chinese must shirts, Anglo-Chinese trade goes on all the sine. Lancashire is hardly affected." It is quite true that, considering the utter disorganization of Chinese civilisation, including in par= ticular currency and the means of internal transport, it is remarkable that China should' have any foreign trade at all, But the ostrich-like optimism that would have it that Lancashire is being, and willie, tittle affected is morely foolish. Our correspondent. shows in the briefest and clearest manner, by the irrefut~ lo text of the only reitable statistical figures to be had in China, thos the'Customs, that British trade is suffering most severe injur Purther, he points out with that con-wineing intimacy of experience which can only be had from local knowledge, that future orders, and in particular orders for Lancashis are being paralyzed by doubts wh thee there may not be further attempts to impose illegal surtaxes. fon the Customs, The foreign trade. of no country could continue to exist if any self-constituted—Joel authority were able to impose any Customs duties that it pioused at any port, This is a matter which can definitely be controled by the policy of, other Governments in par ticular, of our own, The action of the French Government, to which our correspondent refers, shows that the Customs organisation is. strong enough to resist infringement of the Treaties where it has the support of the other Governments party to those Treaties, Tt is the duty of our Govarnment, both to the people of China and "to the people of Lancashire, whose interest in the matter is absolutely mutual, means of the maintenance of existing Treaty rights, to maintain the conditions of certainty and reasonable onder in relation to Customs under which alone China can enjoy any foreisen trade at ull.
On the next. day following letter. published the To the Editor of the "Financial News"
Text read from the printed page and cleaned; old type leaves the occasional error.