Myers); Hongkong & Shanghai Banking Corporation (Mr, Forbes); Jardine, Matheson & Con Ld, (Inv, W. S, Dupree); Lacey Gannan (Mr. N. H. Lacey and "G, Olive); Liddall Bros. & Ca., La, (Me. L. B, Howell); Mackenzie tad, (ate, ©. D, Dixon Ramsay @'Co, (te, T. J. Row: jand); David Sassoon & Ca, Ld. (Me, A.V. Rose); the Union I wee Society of Canton, Li. (Int R, P, Hall and Me, W. N. Buyers) and Keed & Ao, (Me. F.C. Keed).
(The attendance totalled 20, 17 members being represented), The Chairman's Speech The Chairman said:—Before paso-ug t0 the ordinary: business of the meeting T should like to refer to the ead losses which the Chamber Thay suffered amongst its members since Inst we mot, No less than five of our regular attendants at the Ieetings have died in the inter Trofer to C, 1, Bell, John Archibald an, Bryan Watson and J. N, Lepekmit, whilst news only arrived a day 'oF no ago of the death of that fine fold" veteran John Archibald about week ago. in Scotland. Besides these grievous losses we nave also to record the death of Hompinys in Shangh although not still a member of this Hankow Chamber nevertheless, did! splendid work for us in the diMiealt times in January, and in fact gave His best services in the interests of British trade in China, We aleo lose others of our men! bers who have retired. this year, notably Tt. C. Pearce and 2, Aird to whom our beat wishes go in their sent.
ing to the ordinary business a we of explanation is first due regarding the lateness in holding the meeting this year.
'As a rule it is held during March, ut the commencement of the year found us in the midst of our most serious difficulties with the position from day to day quite uncertain, and it was thought best to delay' Until the situation was at least, cleaver, T do not know that even yet this can truly be said to be the ase, but we have to hold a meeting sometimes and did not think any useful purpose would be served by delaying it any longer, Trade and the Politico! Position The whole fabric of trade, and particularly of international trade, is a most delicate one, and is bull up by a large number of factors each contributing to its stability in varying degree.
Destroy even one of those factors! and you run the gravest risk of damaging the whole fabric, if you do not actually destroy it: s0 much the greater then is the destruction when you have most of these factors either destroyed or in suspension, Responsibility of Nationalists That as I read it is the position in Hankow to-day and the responsibility rests with the Nationalist Government here, Prior to their arrival in this contre, that is, up to about September Inst, trade had been going on much the same as during tee previous few years. It is true that was only. earvied on with In spite of the great pro Britain proceeded to give of the good faith with which she was prepared to act by concluding fan agreement concerning the ren tion of the. British Concession here which in its terms must have come a9 a surprise to all, both Chinese and foreign, and which should sure ly have laid the foundation for that goodwill which is so necessary to the continuance of mutual trade relations.
Whether that foundation has been laid or not I cannot say, but certainly T cannot see that in the subsequent acts of the Nationalist Government there has been any express sion of their recognition of the magnanimity with welch Britain acted.
'Changes are of course taking place all the time, and we still hardly know from one day to another where we are, but we may' at difficulty, owing to. stoppage' of least express the hope that out of rallwaye,, eond chaste ces all this welter of trouble in China generally, but it did go on, Buzual there will eventually emerge a confidence still existed between the} Sound and stable Government, with traders, financially the pert was Whom and with whose people, we Sound and it was still possible shall be able to live and trade in get the usual processes of Law put security and friendship, though T into effect, fear that day may still be far off.
All that has disappeared. C.
T much regret that the only British fidence is non-existent or perhaps newspaper in Hankow still continues would be more correct to say that voed and foreign readers have to be most of the best Chinese traders content with either an attenuated have left the port, driven away Herald," (The "Herald" is an either by the tyranny of tabour or American paper published locally) the fear of taxation, if not by or else the notoriously communistic actual taxation, organ, the "Tribune." Efforts are The financial situation is impos-behave now being made to restart sible for trading operations of any the "Central China Post," and it magnitude: Central Bank note may interest you to hear the letter are standing at about 80 per cent addressed by this Chamber to the for more discount and the foreign then Corsul-General some time ago Danks quite reasonably adopt the 8%# protest against this closing and attitude that until there is free with a view to getting the paper' circulation of silver they will remain closed.
Text read from the printed page and cleaned; old type leaves the occasional error.