The increase in the price of rice some months ago, when matters assumed a most serious aspect in the International Settlement, has led to the formulation of regulations by the Municipal Council, which should tend to provide sufficient. powers to prevent hoarding or profiteering in the future. If memory serves us right, during the alleged shortage which gave so much trouble a few months ago the authorities were put to some trouble in ascertaining exactly what stocks of rice there were in Shanghai. It was done, however, and the figures proved that there were undoubtedly huge stocks in Shanghai which completely lied the story of shortage of supplies. By licensing both wholesale and retail rice merchants, forcing them to keep records of their stocks open to inspection by the Police, and securing obedience to regulations directed against the cornering of the supplies of the grain, the Council seem to have established means of protecting the Chinese rei against the rapacity of the nals dealing in a staple ne-The licence fee, per half year, is a purely nominal one and relieves the community from any reproach of taxing foodstuffs. A liberal and strong interpretation of the licence conditions outlined above should prevent the recurrence of anything so unpleasant as the last rice crisis so far as the Settlement is concerned. Nevertheless the new conditions cannot prevent any ring stopping rice coming into Shanghai and those in authority who- have allowed the transport of rice vid Pukou are hardly likely to assist the Municipal Council by preventing the diversion of the grain from Shanghai.
Text read from the printed page and cleaned; old type leaves the occasional error.