British Chamber of Commerce, Hankow, ventured to be mildly optimistic in surveying the trade conditions immediately ahead. Events falsified that attitude. In his speech on Friday to the annual meeting of the Chamber, Mr, C. D. Dixon had ruefully to unfold the horrid tale which left Hankow at the end of 1932 in as depressed a state as at the end of 1931. Unrest and stagnation of trade in the first eight months of the year_ grievously, afflicted Hupeh. The export business from Hankow was the worst on record. Mr. Dixon had to tell of irregular taxation on upriver cargoes—checked only. on the arrival of General Chiang Kai-shek in Hankow in June—the combined effects of the aftermath of the floods, the Shanghai troubles and the anti. Japanese boycott and widespread unemployment. Above all Hankow again saw the Communist peril uncomfortably "lose at quarters. In January Ho-lung, the bandit-chief who was, later in the year, dislodged by General Chiang Kai-shek's drive, actually made an attack on Hanyang. The Upper Han River wat virtually closed to trade until August. The difficulties of the merchants were increased by the levy of irregular taxes to maintain the provincial troops engaged in a feeble resistance to the Communists. At one time these exactions forced out of business the agents of certain foreign firms at Hwangpei, only ten miles from Hankow. Mr. Dixon's tribute to the skill with which General Chiang Kai-shek restored the situation in August is evidently inspired by a sense of the relief thereby given to the merchants in Hankow. A speedy recovery from such a disastrous year cannot be expected but a gleam of hope is discerned in the increased confidence display-in London. The part now being played by Great Britain in assisting the world to find its economic feet justifies this gesture of discriminating optimism from Hankow.
A natural feature of the depression with its consequent Unemployment has been a decline in the support given by Workers to the Labour Union These organisations have played a sinister part in Hankow. They have. been unblushing strike-cum-blackmail caucuses. To the title of Trade Union in the ordinary sense of the term they have not the shadow of a claim.
heir funds have been depleted to be hoped that the ial authorities will Fealise the unwisdom of per. mitting them again to raise thei [diminished heads. Hankow. ha therefore been free from labour troubles and two good harvests in 1932, bringing about a decrease in the cost of living without an appreciable reduction wages, have considerably helped to preserve tranquility. In such a situation the policy of the Government, whether Central or Provincial,' should be to improve the general administration so that causes of grievance are not allowed to accumulate in revival of labour, unrest when the economic tide reaches the turn. If further proof of the need for that remedial manifestation were required, Mr. Dixon's citation of the fact that 40 per cent, of the Chinese hongs and shops have closed their doors and gone out of business and in most cases rents are six months in arrears" would amply afford it. Hankow's courage in facing this exceedingly adverse situation, following as it does on a long period jof anxiety and depression, is to be warmly commended. Shang-thai, in its more sheltered position, must specially admire the stimulating tone of a speech which, in facing unpleasant, facts, acquires balance reason of its ability to assess the prospects of improvement a: well as the definite advantages gained in a discouraging year. The British merchants at Hankey have been through the fire but it has not dismayed them. Tt has rather proved their resourcefulness and adaptability. Not the least remarkable feature of Mr, Dixon's speech is its concentration on commercial and financial matters without any political digression, Political conditions are touched jupon for purposes of illustration land no more. In the light of Hankow's peculiar vicissitudes this, in itself, is a significant mark of the practical spirit of ithe Chamber's policy and out-took.
The suceessful—and it is to be hoped permanent—clearance lof the communist areas has not been the only evidence of sound official effort in Hupeh. The repair of the Chang Kung dyke motor-ear can make the twenty-five mile tour of the flood defence works at Hankow in less than two hours—has been an encouraging proof of the: provineial authorities' alertness. 'The maintenance of this road as well as the dyke in a state of Proper repair is commended to attention by Mr. Dixon. Now that the memory' of the 1931 flood tends to grow fainter the hint deserves emphasis. A really satisfactory sign of more settled conditions is forthcoming in the cessation of the firing on the steamers from the banks of the river since the end of last summer. The good work of the naval patrols of various nations has, no doubt greatly contributed to this result. If a revival of the demands of the European lor "American markets comes about in the next few months, Hankow, with its depleted stocks fand but'a limited opportunity of obtaining fresh supplies from the interior, will be severely strained to meet calls upon its market. Yet it may be suspected that the effort will be only too readily made. For the moment the disturbed conditions chuen, where the Com-foothold is assisted by local jealousies, must consider-tably retard the full resumption of the flow of trade down the Yangtze. Nevertheless cheering to note certain activities in the coal-mining industry. They lead to the conclusion that leven the misfortunes of 1982 have not been able to weaken the vigour of Hankow's commercial vision and spirit of enterprise. And it is certainly comforting to compare the state of Hupeh now with that prevailing in the beginning of 1932 when great jaraas were under communist land bandit domination. Consider-fable credit must be given to the head of the Provincial Government, General Hsia Tou-yen, who has made a good impression Jon all and seems determined to maintain definitely sound_standards of administration. In the neighbouring province of Huvan, General Ho Chien has been able establish a—satisfactory stability, unknown a few year jaga. He has this year put a stop to opium cultivation if he has not been able to prevent the transit of opium on its way down river to Hankow and beyond. He has carried out a programme lof road-construction with the result that communications have been improved. Places which formerly were a week's journey from Changsha are now within reach of a, twenty-four hour motor ride. This should help in the revival of better conditions in Hupeh and_ consequently in the Wuhan Cities, of, which Hankow is the chief. So Hanlkow's courage has much on which to draw for. inspiration. And the speech which is publish-led to-day shows that British leadership there is in thoroughly competent hands,
Text read from the printed page and cleaned; old type leaves the occasional error.