The development of China, it is plain for anyone to see, cannot Be effected without stupendous sums of capital, which only the world as a whole possesses. It is not in Japan's ken to attempt handling the work with her now much-depleted ànd fast-attenuating resources.
Now, capital cannot be: got without implicit confidence, which means simply:—"We trust you and we can work together, the utmost securi would have to first exist. The policy of Japan's military leadership must "suffer a sea-change" before it can command such unquestioning faith and trust. It must. metamorphose ihe principles of military Japan to the ethics and. morals of mankind The great empires of the past, and particular, did conform before they could permanent. It i; difficult to get and harder still to keep. In this connection, Japan is not so hopelessly weak authorities think her to be, vrdermining forces of decadence with its attendant corruption has had China. until the present, in its unshakeable grip. Chinas own weakness has been the obverst to Japan's strength. n there is the overshadowing factor of the Powers' own shortcomings—their disunity*and incapacity to keep lasting peace abroad. Al] these together—China's failings and those of the Powers—plus Japan's own undeniable virtues and merits, account for the Island-Empire's ascendancy now.
Open hostilities, waged for~ the main purpose of economic welfare, deriving ultimately no economic bounty, must needs, by inexorable logic, collapse of itself.
The leadership of Japan, hówever ícnatical it may seem at this phase of things to be, cannot but recogni ihe utter need for ce-operation with the Powers, if she would successfully deal with China, and achieve her real goal in her relationship with the great people of this land. The leadership of Japan knows it, however much her military power seems to aberrate and get out of hand for the present.
No capital fund in all sanity is going to be forthcoming where there is mental, moral and physical chaos, as here, at the moment.
And the largest reservoirs of this capital—the three great democracies of America, Britain, and France, with the second-named still in the lead in this part of the world—will have yet much to say and do for that region of which Shanghai is entrepot.
It must work out finally to a state of equilibrium in the relationship of Japan vis-à-vis Britain first, th America, France and the others, later.
"Now, as to the time-element before the dynamic forces can become static, it is not one—at least for Central China and Shanghai in particular—which can be protracted over several years, because the economic strength of the belligerents must peter out for lack of outside monetery support. Japan has to depend upon herself entirely and China can get nothing of much adequacy So, finally and in the not-so-distent futi Shanghai stands overwhelming chances for survival, more-or-less as it has been constitu hitherto, with a variation preponderating towards Japan but not in a degree detrimental to this city's capacity for world useful ne: them up at-odd moments, x Those who are aficted by telephone shyness include the County Courts, the Football Association, the Rugby Union, the Tate Gallery and Tattersalls. Reaching for the telephone directory will not help the as-parent for screen fame who wants in touch with Mr. Alexander The famous film director's of the casual ringer-up is by Owen Nares, though most of the well-known actors and tresses with addresses in London have no objection to the publication of their telephone numbers, The Royal Family are not reticent in this matter of telephone numbers vhich appear in the directory Their homes are easily accessible by teleph but to speak to Royalty is not so es The caller will not be put through unless he can give the code word, and this is changed y week at Buckingham Palace,
Text read from the printed page and cleaned; old type leaves the occasional error.