Events Reviewed by Chairman: Organized Smuggling Denounced: Government Efforts Praised IMPORTANT statement on was made on March 23 chairman, at the annual meeting general trade conditions in China by Mr. H. W. P. McMeekin, of the Shanghai General Chamber of Commerce, held in the offices of Messrs. Beck and Swann (secretaries), "North-China Daily News" Building, 17 The Bund, In reviewing the general situation, Mr. McMeekin said:—
At the annual general meeting of the Chamber last year, T expressed the view that several factors appeared tovafford the fiope that we had passed the culminating point of the worst depression which has visited China for many years, This optimism has proved to be correct, although It was fonly In the last quarter of 1036 that the change became readily apparent, assisted largely by the abundant crops harvested throughout the country. Good harvests mein an increase in the purchasing power of the people and stocks of merchandise in the Interior which had become sadly depleted during the economic depression are now being gradually replenished, "This revival of trade has iso been assisted in great mensure bythe comparatively settled conditions which now obtain over the greater part of China, ment of communications has been a most important factor in the work of inlfleation of the country and the more rapid movement of merchandise to and: from the interior is already exerting a beneficial effect on commerce, considerable amount of new Jegistation "has been promulgated during the year, including Income Tox Regulations and a new Insurance Law.
As regards the former, diplomatic arrangements have not yet been made for its application "to those Joying extraterritorial rights, whilst as regards the new Insurance Law, this has not yet been brought {nto effect, doubtless in view of the many difficulties which must surmounted before it can' become applicable, The rapprochement between Nan~ king'and Canton and the apparent liquidation of the serious revolt which recently occurred in Sian are two important steps forivard, and it now remains, 93 far as concerns China's purely domestic differences, to deal with the so-called Communists in the Northwest. 1 say so-called "because the terms "Red" and "Communist" ave somewhat freely applied to oppon-tule of the Government, and it is probably more correct. to consider Vie as disgruntled parties who prey on the country as bandits and are cing supported in the form of arms, ammunition and propaganda, by sub-ver sive alien elements, whose aim it to disrupt the country. 'The fact domains that, for many years, no such considerable' part of China has ever been subject {o one central authority fay ly the case at present,—Unfor~ Uunalely, however, the autonomous government in the north continues to'funelion, principally as the result of outside assistance and support, thus providing an immense field for the Activities of powerful and well-or-= ganized smugglers, who operate on a tale unknown anywhere In the world, The Nanking Government fully eallze the seriousness of this situa ion and the mented which it brings to. China's economic rehabilitation and progress. They have taken strong and "get ive steps to deal with the matter in go far as Wes within their power but unfortunately many of their offerly are rendered abortive owing to a lack of Jurisdiction over the offenders.
Text read from the printed page and cleaned; old type leaves the occasional error.