The outstanding address at the second full session of the Economic Conference which took place in the Central Bank on The Bund on Wednesday afternoon was that of Mr. Li Ming, ch of the subcommittee on National Indebtedness, who made a plea for the recognition of all outstanding national obligations in order to establisin China's credit on a sound basis.
Recognition of China's outstanding financial obligations, the disbandment of troops, systematic taxation not harmful to the people, and the regularization of commerce by ending the impediments placed upon it by the Government, were among the resolutions passed on at Thursday's session of the Conference, Wedneglay's session was devoted". to \the introduction of resolutions': "by the chairmen of the various sub-committees.
Many of the proposals are 0" a startling nature, but until the resolutions. are actually passed, there is no purpose in publishing the rats submitted on Wednesday. Altogether more than 50 resolutions were introduced, but some of them will be combined and some may be dropped.
During the meeting of the Conference, Mr. T. V. Soong, Minister of Finance, received telegrams from Marshal Feng Vu-hsiang and General Yen Hsi-shan supporting his programme of national financial unification, Mr. Chang Chai-2o, Vice-Governo; of the Bank of China, reporting for the Committee on National Expenditure, introduced a resolution calling. for the Government to limit the number of troops to half a million men and the annual military expenditure to $192,000,000, and suggested the formation of a Civilian Commission to disband the surplus troops, to find work for them, and to obtain the necessary funds for the project.
Mr, Chia Sze-nien, Chairman of the Committee on Taxation, introduced a resolution to effect al
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