Loan Scheme Devised by Ministries Nanking, Jan. 30, Tt is understood that" measures for the relief of the Silk industry 200" jin Shanghai have been jointly' formulated by the Ministries of Industry and Finance, It may be noted that as a result, of acute depression, upwards of forty silk tures' in Shanghai have been forced to close down, throwing out jof employment more' than 60,000 workers. The situation is regarded the Government as one of treme gravity.
The measures formulated by the two Ministries provide briefly as follows:
The Greater Shanghai Muni: cipality to be instructed to grant cash loans to filatures which have already suspended operations. as well as those which are facing bankruptey. A mortgage on the properties of these filatures is to be Jereated as security for these loans. Should this be found unfeasible, funds are to be raised through the issue of a public loan. At any rat relict must be effected within the shortest possible time in order that some of the filatures may be enabled to resume operations and work may thus be provided for workers who thave been thrown out of employ-for transportation of silk cocoons.
_edoction of fight charges '3. Abolition of various local taxes or levies on silk and cocoons.
'4. The National Coun: cil to be urged to establish immediately a Silk Control Committee whose tham function it should be to devise fundamental measures for the relief of the silk industry.
'5. The Import Duty on fo
creased: "proceeds from such. artificial sill (rayon) creased Duty to be earmarked the foundation fund for the n of the silk industry.
Tt is understood that no decision has yet been reached regarding the last-mentioned measure as the In-jert Duty on artificial si increased not long ago. After this Jquestion has been settled, the proposed measures will be submitted the Executive Yuan for immediate adoption.—Kuo Min,
Text read from the printed page and cleaned; old type leaves the occasional error.