In "Oriental Affairs" this month Mr. H. G. W. Woodhead examines the 'Shanghai' Municipal Council's "Eco-amy Report in a spirit of detached triticism. - Recosnizing the urgency of the financial issues involved, he Journal agrees that some of/the pro-ossals may have to be modified to Avoid injustice to certain grades of} employees, but generally it deprecater "wholesale condemnation." Mr. Woodhead also lays stress on the fact that the Committee spent a hundred un-Yemunerated hours. in the of the Report; that isa of view which would not occur {0 the critic of a similar document elsewhere, but no doubt it will give he Couneit appropriate satisfaction, Exceptionally interesting among _the other articles in "Oriental Affairs" is its comparison of the proposed Income Tax rates of the Chinese Government with those in other countries. The comment is based largely on Mr. Henry de Vault's devastating analysis which originally appeared in the "Shanghai Evening Post" and is recognized as one of the most competent expert criticisms of the tax yet made on an actuarial basis. Of lighter interest is an attractive account the Shanghai Mills with special ref
Text read from the printed page and cleaned; old type leaves the occasional error.