It may be said that material pro-ress means little unless it is supported by cultural advance, and in his connection it must be recorded that higher educational facilities are available to very many thousands in the National and Provincial Colleges and Universities, which provide a wide curriculum, and that primary and. middle school students number hundreds of thousands where former-Ty educational facilities were not available.
All these factors must and will have an effect upon the future trade ud commerce of China and we must be prepared to meet the changes that will come and adapt ourselves.
During the year many now laws and regulations have been enacted and promulgated, designed either to feontrol and regulate commerce to add to the revenues of the country.
Or those intended to regulate commercial operations, the most import fant are the Insurance Act, the [surance Enterprises Law, the Pat-'Medicine Laws, and the Mortgage Law. The Insurance Laws contain many defects which it fg understood are now being considered with a view to a Justment—though promulgated, the laws are not in full operation. The Patent Medicine laws and regulations for the registration of Patent Medicine vendors, were necessary check the importation and sale of injurious drugs. Though the laws contain many restrictions and _requirements which appear to be unnecessary and unduly vexatious to the legitimate trade, it is recognized that In this as in other cases the ood "suiter for the misdeeds of others. Defects will. doublies become apparent, but it remains to be seen whether the regulations will, in operation, be as vexatious as some them' appear to be on paper. British importers are registering accordance with the regulations a fare doing their best to carry them out loyally.
Mortrage Laws 'The Mortgage laws have received the very careful consider: Yon of a sub-committee of your Chamber, it being rightly considered, that any' legislation affecting the liquidity' of capital held in the form of real estate and the rights of the mortgages In connection with the
Text read from the printed page and cleaned; old type leaves the occasional error.