A solution of the question which has arisen concerning the setlement. of local. merchants" accounts hag finally been reached, by' the Greater Shanghai Chinese General Chamber of Commerce. This question has been the subject of a heated dispute between local. Chinese merchants and the City Government! of Greater Shanghai for. some months past.
The former complained that the] farmers constituted the majority their customers and that, as the farmers were not in a_position to sell their crops and settle their accounts by the end of the Gregorian year in accordance with the mandate of the National Government, the merchants would naturally unable to close their books by the fend of the Gregorian year.
Replying to this, the Mayor of Greater Shanghai," Gen." Chang, Chun, told the merchants that they must' be progressive and introduce reforms wherever possible instead of remaining stagnant and that they therefore should settle their ae: counts and close their books in ae. cordance with the solar' calendar} irrespective of their difficulties, The merchants then requested the Mayor to face facts when enforcing] the order of the National Govern tment for the adoption of the Gregarian calendar bat the Mayor remained firm and stated that. the mandates. of the National Government must be obeyed and, that he ould not reconsider his decision, He promised, however, to refer the consideration. matter to the State Council for
At a meeting of the State Coun. cil, held in Nanking a couple of lays ago, says the Chinese press, an important resolution was passed to the effect that merchants " should and must, close their books at the end of the Gregorian yarr instead fof at the end of the lunar year as they had done in the past. The resolution provided that the questions the collection and payment outstanding accounts could effected in accordance with terms mutually agreed upon. Incase there were no such terms, the collec-ion and payment of the accounts must be fixed for. times most, con vvonient to the parties concerned, not necessarily the end of the Gregorian year.
Upon receipt of this, the Greater Shanghai Chinese General Chamber of Commerce held a meeting on Wednesday to discuss the question and, after prolonged—discussion, two' resolutions were passed, ons being to the effect. that, the colletion and payment of debts by local merchants should be effected before February 15, 1931 (which dat" coincides with Chinese New Year's Eve according to the lunar ealvndar) instead of before the end of the Gregorian year as ordered by the Government. The other resolution, provides that the dismissal or eng agement of employees by Chinese shops, ete., shall be arranged bo-tween February 16 and 20, 1931 instead of at the end of the Gregarian year as native shops cannot collect or pay their debts without the assistance of their original employees. A notice to this effect has been inserted in the Chinese press,
Text read from the printed page and cleaned; old type leaves the occasional error.