More Foreign Capital: Guarantee Against Devaluation:
Advice Offered at Electrical Engineers' Meeting Speaking at the annual general meeting and dinner of the China Centre of the Institution of Electrical Engineers, held at the Shanghai Club, on Friday, the president, Mr. A. J. Percival, traced the progress of research and development in electrical engineering in England and other parts of the world, referring at the close of his speech, the progress in industrialization in China, Mr. Peretval pointed out that the institution now embraced a worldwide. membership of some 15,000.
Mr. H. E, Arnhold, Chairman the Shanghai Municipal Council, replying to the toast of the guests, spoke of the financial aspects China's present day, referring in the problems of chief importance, which fare transportation, agriculture, and Industrialization. " Purchasing power depended on an improvement reductive capacity, and this again depended on improvement in trans portation, which would allow velopment of those products she was best able to produce within her own bord Referring to Britain's high tariff, which brought herewith it fow of capital through new plants, Mr. Arnhold pointed out that China's present financial measures were fending to discourage, by diserimination against industries not of purely Chinese ownership, the further inflow of necessary foreign capital. Mr. Arnhold closed with the fe-mark that if industries were thrive in China, she would have to have a more sclentife tant, more foreign capital and a guarantee against the devaluation of her cur-
Text read from the printed page and cleaned; old type leaves the occasional error.