Manipulated to Gain High Interest Rates Nanking, Aug. 10. igh interest rates and the manipulation of ce-operative activities by Toral gentry, accoré'ng to qualified ckservers here, are the we. main hindrances to the progress of China's Joo-operative movement. Under the pretext of helping rural rehabilita: tion work, it Is pointed out, not a few Chinese banks are investing their money in rural ce-operatives at 2 high rate of interest.
Meanwhile, many " unscrupulous gentry are manipulating the busi-Less of ce-operatives. Instead of working for the benefit tf the farmers, they are serving as middlemen between the banks and the peasants. They ask loans from banks in. the name of ce-operatives, and in turn Tend them to peasants at usurious rates.
While admitting that rapid development has been made in China's cooperative movement, these observers draw the attention of the Government to the two.stumbling-blocks and ask that effective means promptly taken 10 remedy the situation—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.