Under Gen. Chien, the merchants could rest assured that they could now live in peace and carry their business without undue interference. The morale of the Kuomintang forces had been excellent, said Me. Pung, and already they had met with unexpected successes. They had shown a fine spirit of loyalty and were extremely well dis ciplined.
'All, therefore, looked forward to the day when' the anti-Northern campaign would successfully have been completed and the country could live in peace, Mr, King had been appointed Commissioner of Foreign Affairs and his appointment had been welcomed by all Shanghai residents. Mr. Fung was sure that he would abide by the foreign policy. of the Nationalist Government and the Kuomintang and maintain the dignity of the Nationalists, Marshal Li thanked those presen for their reception. The country, he said, was founded on the policy, government of the people, for the people and by the people. The merchants had taken a leading part in the affairs of the country and its destiny and this fact could not be over-emphasized. Great Britain's strength lay in her commerce and China must. strengthen her commercial prestige in order to become a great world power. China need not depend on military force nor need she depend upon her large population. Once her commercial foundations were strongly built, then she should be paving the way for her ultimate position among the family of nations.
The merchants had shown their power on many occasions, especially those of this rear commercial met repolls, Shanghai, the greatest Chins in the Far East and one of alist cause that they were contributing unceasingly.
Inclosing, Marshal Li wished the fnerchants every success and proposed a toast to the Republic of China and the success of the revolutionary movement.
Text read from the printed page and cleaned; old type leaves the occasional error.