es on stilts, The ground over which ives that this in the best the Court is "understandable.
They contend that the mere fact of Chinese living in the foreiga Settlements does not give for eigners the right to sit in judgment on them. Against this, the foreign standpoint is equally if not more deserving of consideration. Apart from purely Chinese cases (and there. ara exceptions even here) practically no case comes before the Provisional Court by which foreign interests and the Council's responsibility for the peaceful government of Shanghai are not affected. In fact, Dr. Hsia's dictum applies to the Provisional Court more perhaps than to anything, that "some of the problems (connected with Shanghai) are almost incapable of solution from a legal point of view: in doing justice to one party, we may at once cause. injustice to the other." A scheme has been published in the Chinese papers, said to emanate from the Judicial Yuan, to substitute for the Provisional Court a purely Chinese court of the lowest grade, permitted to deal summarily only with cases of the most trivial nature. One hazards a guess that this ides was invented as a direct insult to the Settlement. No responsible person in Nanking can ever have supposed that it would be accepted by the Diplomatic Body. Looking at the question sanely, it may be said that there are defects in the Rendition Agree ment, due to the haste with which it was concluded. Ther> must be no repetition of this haste. And as the question has dragged on 0 long without apparently any attempt as yet to state differences and consider remedies, the only feasible course now is to prolong the Agreement for a given period while a carefully appointed join' commission works out a solution. It is conceivable that some such procedure is in view and hence the postponement of Tuesday' conference. ing a "paper" loss of thirty-six thousand million dollars. Is this due to a general lack of confidence in Mr. Hoover's ability to maintain the standard of Coolidge prosperity or do those who sent Wall Street prices heavenward fear the scientific scrutiny of the "engineering mind?'
Coolidge prosperity was undoubtedly an officially accelerate ed process. Most of the expensive operations of the Government were delayed, until Mr, Hoover is faced with the nece: sity for costly naval and: publ works budgets. Similarly, the credit system of the country was so expanded"that, although one person in three possessed a motor-car and every farmer boasted of expensive radio sets and luxuries were piled upon extravagances, no. one owned anything, Shares were purchased on the narrowest margins not for investment purposes, but against possible rises and the cuttings of juicy melons; homes, motor-cars, radio sets, even books were purchased on the Iment plan against the possible profits from the stocks which had been purchased on margin; interest charges were everywhere piling up and call money was costing more than the shares could possibly bring in dividends, yet, the "suckers" bought despite constant warnings from the Federal Reserve Bank and every financial leader in the country. The crash was inevitable. Possibly the "engineering realized that a major operation often cures when palliatives only increase the general debility of the patient, However, the time has now come for the cute and Mr.
Hoover has set himself the task of increasing the expenditure of the surplus capital of the United States in the United States so that there will be a wider distribution of wealth to replace the imaginary losses of speculators in Wall Street. Public works, railway improvements,
Text read from the printed page and cleaned; old type leaves the occasional error.