The Commission for the Readjustment of Finance had a most Ing we JI o'clock this (Friday) morning, with Dr. W. W. Yen in the chair, when a. general report on the present financial situation the member his general report was accom: panied by a number of supple-Imentary reports dealing with the puiotic o administr foreign and domestic loans, ote. Those reports were caret amined and discussed, Practically. all the members of the Commission were present, in-Dr, Ve" K. Wellington 1. Wang, Mr. Chang but was rep Minister. Admiral wits out of town, but way repre: rented by Mr. Lo Meng-hsiung, Senior Counsellor of the Minis try of Communications, Dr. W. W. Yen made a brief review of the work of the Com: mission since. its. inception, He said that so. far the Commission had boon chiefly engaged in collecting data from various sources, paring their figures and ad: justing their differences, and that, owing. to the complicated nature Of the subject, more time had been taken than was at first expected, But, in the meantime, substantial results, had been accomplished, as evidenced by the many careful: ly drawn up reports which he was now ole to present to hi callow nes.
Tt was, the general sense of the commission that for the solution Present difficulties. there must be an increase of revenue as well og an effective control over the revenues belonging to the Central Government, and that to make this control effective the Government must be backed up by an intelligent pub-opinion. On. account of the scope and importance of the problem, it was decided that the subject, should study. and discus ned at a later meeting 'THE FRICTION IN THE,
Text read from the printed page and cleaned; old type leaves the occasional error.