friendship "with the Chinese, has Writing as one whose personal
been established in a close business intercourse spread over a period of 19 years, and whose liking and respect for many Chinese friends cannot be killed by the present midsummer madness of a very small proportion of the Chinese nation, should like to point out publiely—as I have already done privately—the incalculable harm that the present strike is causing to the Chinese ration in general and the local tradfers in particular; this in a manner that, I firmly believe, they have not foreseen and do not' now realize.
We all know and fully realize what we are losing to-day, in overhead charges, loss of profite, ete, but do the cotton mills—not employ: ers only, but employees and shareholders—see what has been lo Jand above these items? Between June 1 and July 20 many orders for cotton yarn were placed in Japan by outport dealers, mainly Tientsin, Tsingtao and Hankow. This means a double-edged loss to the Chinese nation and to Shanghai—to the Istter, loss of local trade and employment and also to the former x definite lows of capital in payment for these goods, which would otherwise have remained in the country, and would have gone nainly into the pockets of mill employees, cotton growers, ete.
That trade, and that money will never come back. It is like a fre loss; a definite loss of capital, labour and trade te China.
How Japan has Profited I give figures below of the ex-porta from Japan to China during the period of June 1 and July 20, 1624 and 1926, for comparison. It true that the counts of the yarn made in Japan may be. different {from the local product, but the fact remains that it io obviously being taken as a substitute.
Text read from the printed page and cleaned; old type leaves the occasional error.