I must refer briefly (o the establishment in this country of enterprises of monopolistic nature, the growth of which is being carefully watched, the present lack of uniformity in' the tariff enforced in different parts of the country, and the recent threat to [the currency. As Mr. Calder Marshall has told you, a now "Reformed Gov. Jernment "of the Republic of China' has been established at Nanking. This new Government is to be amal-gameted with the "Provisional Government™ in Peking as soon as communications on the Tientsin-Pukow and Lunghai Railways are restored. I feel bound to admit that the political position does not inspire one with any very justifiable optim~ and for the time being all that jean be done ig to make the best of a dimeult situation.
Mr. Calder Marshall has referred to [the work of the Committee, on which Thave the honour to serve, which administering the Lord Mayor's Fund for Relief in China. T can assure you that "all demands made upon that Fund are receiving the fullest consideration. is a matter of great regret to me to learn that there is a falling off jin the attendance at the Chamber's Language School, as 1 feel that, now more than ever, if we are to retain our trading position in China, we [shall require' men who speak' the Tanguage. and I hope that means will be found of maintaining the school Jand that attendance will improve as leon ditions become more normal.
Text read from the printed page and cleaned; old type leaves the occasional error.