Foreigners though, are in no mood elation. The import and export wade had to be shared with many Chinese houses of mushroom growth. High Import duties, the reluctance of buyers to take delivery i the market not right when the goods come are factors that slited trade whicn used make {he'Shameen houses wealthy. During the closing years of Chen Chi-teng's term, most Shameen firms turned to Government contracts, and a lot got "stung." payments being Tew and. far between. And while fenton and opium smoking have been abolished there has been such a de-elt that the: nationalists" have not been able to catch up with payments.
Prospects for Government business fare not bright. Too many. things have to be referred to the National ut, and besides new com-re forward upon so long such difieulty in balane= ing. the budget.
Twelve sections of the new income tax law are not liked by the Kwang tung merchants, nor by those of Kiangsi, Hunan, Hupei_and Kiangsu, for that matier. In Canton a fair displayed products from these four provinees and the commissioners, bout 30 in Humber, have drawn up paper al lacking the workability of the objectionable sections. They will recommend. that the chambers of commerce in their respective capitals should urge the Central Government that the income tax lew may be radically amended. Moreover, they propose -that if this tax is to Ee col-Tected, all business taxes should be abolished.
The salt industry is tied up owing to the increase of rates. Salt beds along the Pacific littoral are act being Worked, neither are wholesalers bringing in or sending out salt. Re-(ailers have had to raise prices and their stocks are low, so preservers of fish and other edibles that require salt are selling out their stock at what they can get.
The Commissioner of the Salt Gabelle has just refused a petition asking that the old rales should be continued. Spokesmen for _hongs affected by the allered rates ere to be sent to Nanking. and there will not be a resumption of business while negotiations with the Minister of Finance and others are proceeding.
Text read from the printed page and cleaned; old type leaves the occasional error.