Action of Nanking in Closing Inspectorate Offices Peking, July 15, With effect from July 1 the Nanking Government has ordered the closing of all. Salt Inapectorute otices within its sphere of influence, thus terminating throughout a large part of the country the activities of a service which for a namber of Years has been one of the main supports of China's credi This action has been brought about by political extremists inthe face of considerable opposition from many financiers of their own party, who realized that the unofficial dis. cussions which have been proceeding would have served as the banis of arrangenient whereby Southern finances would have benefited immediately while the country's credit damaged, abroad would not be irretrievably
Security for £40,000,000
Not content with thus indiewting its intention to abolish throughout Chinw a service which forms tif security for foreign loans amountarity of the "salt surplus" Kiangsu and Chekiang alone, a loan of $60,000,000.
In view of the existing situation Jand the heavy obligations for which, the sult revenues of the whole country, under solemn international agreement, already form—the security, it is obvious that the security' intact of the fra las, pointed out her that there lean eucone forthe tion of the enki Govertnents even fra the point of view of Nafonai ce, that the Salt Inapectorte fe nae foreign oganaatan imped upon China but was conaitated by ager ment, freay" entered ita "lig profit t China uni perine Cneration wa Intrrapted "by militaria snd Inthe Teapetorets at Ins react a pow atriety muintalned tofonghoae lea ""and pivleges*
The anit cane ie sooth ty fate be cateeed by nui the Nanking Government who ste sireadyeleting cles of thee snectrate Tem thee Panes "here nar to eno altereaive in the very "Bear fatare lo paving ai the Tnipctorate sat wk the excenton of ya small nucleus throughout She south the inking slope smoot fo seta
Text read from the printed page and cleaned; old type leaves the occasional error.