In such a state of affairs it can readily be understood that busi ness is seriously crippled, While the people are not actually at the stage of starvation their purchasing power is considerably lessened, and they will buy only bare necessaries. And not only that but they buy for the moment. There is no over spending and there spending in advance.
Of course if the Marshal were to discontinue the issue of fresh notes, if he were to withdraw from the present campaign, if he were to reduce his armies and armament, jand if he were to cease from attempting to carry the burden of Chine—to none of which is he likely to agree—he could soon put the administration of Manchuria on the sound footing that it was two years ago. With a revenue of $40,000,000 year from the Three Pr jinces he
Text read from the printed page and cleaned; old type leaves the occasional error.