London, Apr. 1.
A warning of the danger to China of state monopolies was voiced by: Mr. Arthur d'Anyers Willis, the chairman, of the annual meeting to @ay of the Chartered Bank of India, Australia and China.
'After congratulating China on the success of her managed currency system and the growing demand for 'Chinese products abroad consequent fon an encouraging change in China' prospects, Mr. Willis said the Chinese authorities "may, before long, realize the fallacies of the arguments for state control of, industry."
"The Chinese," he added, "are a hard-working race, placing great Feliauee en individual effort and. reward. Their social organization ests on the family system. These inborn trails clash with the ideas of siate-managed industries and in-Gicate that more efficient manage ment and better results are more ikely to be obtained by private
Text read from the printed page and cleaned; old type leaves the occasional error.