Mar. 26.
Once again the Treasurer the present rate, because of the results achieved by the sale of|should "be adores atti feilement of. the City" Govern Tecommendations it considered to be a fair recor
These are not normal times. [weses, statement Tletricity Department: oficial statement shows that they [Ment's interests with its own cardinal requirements, the.last few months. Whether Depression has gathered force in gratification from which the vie. with should be noted. 'latter altirm-The terms of this proposal it is in process of being lifted fmient of surprise was not absent. jing its adherence in principle to 'a matter of opinion, on. which payers next monthe Me thus, in addressing the Rate-ithe aforesaid agreement of 100%, the event will alone give material Reyes, 2 ing Chairman whose A. D|the Council offered to take into ous for final judgment. Nevertheless great services to the Council and 2, eerie, factory, inspectors couneins Snancial position is/the Settlement deserve mote then Governn fda erentns, recommended by the Chinese programme has been skilfully lean be Soon Lhe, Loan Tecemption a passing note of recognition but [Gear handled and strength legitimately eq' on future occasion, will nev ™more conveniently examin-iment on a "practic ble basis to inspires courage without exposing have to be agreed upon," and to cothe finances to undue risk. [crease for authority to in-Joperate in monthly me ings of Budgetting and taxation are not Rate for the current year. It isa. rider to the effect that the General Municipal inspector The Council added ito be classed purely as account- obvious that, with the withdrawal /supervisic ion of recommended is an important factor ancy transactions. Psychology of. $2 million a the Sew! inspectors carried that Reserve, administrative function the policy" of the which/last two years cannot be inde: ne measure of control, and that all access to these inspectors and public dictates the financial policy of alfinitely repeated. Nor, having ait "<css, t0, these inspectors and body. There is little regard to the needs of Shanghai doubt. that "the depression has|and the constant pub Government shall be through the heavily hit scores of Chinese for extension of administrative demand responsible officials of the Council, The Council offers sincere ce: businesses. The failures at the: activities, such as rickshaw con-operation with a view to achiev-last New Year were above the trol, road-widening, traffic conges-ing the goal of a uniform inspeeaverage. Even a small increase|tion remedies, education, factory torate, in taxation would, possibly, stimu- inspection, and the like can reli Further suggestions were made late the prevalent gloom out of ance be placed on further retrench-to include in the Council's ser-fall proportion to the aetual/ment of expenditure. The device. inspectors trained and figures involved. The nominated by the Chinese authorities. Statements have been acute appreciation of this factor:|ministration is to be allowed Company has. an a jand unless the standard st ad-Water-apartments have cut to the bone made at Geneva and elsewhere
Council's suggestion that it should jean not be fairly asked Chnitrgts cerponded 10, thelunthinkably to deteriorate they (Zita citect {hat the Chinese th inese reduce its rates by a substantial!severe in to Ret inspection of factories have been amount, Major Ford, deed, has process. This gives a clear line gettionene senate unsatisfying Hhaulked by the. attitude of the all along shown realization of|to the influences which are ex- spvigns Tt
[Settlement's economic fabric as pression, the importance of giving the]pected to turn the tide of de- observer can put such an inter-that no responsible
much relief as possible in a time|stout. heart, Shanghai has ever aJpretation on" these propo! Two years ago of extreme strain. By dint of was plunged, by sad misadventure, lof the metietic it} The breakdown, in October last, the careful husbanding of the|into one of the most. disastrous [Counc between the Council's resources and with the|experiences in and the representatives Itslof the City Government of heads of the spending praiseworthy ce-operation of the|quiet, undismayed recovery even|Shanghal is all the. more to be he. has manag nding departments under the shadow "of "rapidly regretted. to the to keep, the gathering depression, was achiev: {Council's deficit within bounds. "He realizes, [ed survey it due to an too, that the Counci ithout banging "of cymbals inability to solve the problem of command|and without any consciously control: jof revenue depends, in the last! directed efforts of heroism. Per-resort, on the general pros The Chinese authorities demanded lof the trading classes. sperity haps Shanghai in its cynical way equal control in the full here-would deprecate the notion that the form" "Joint," while. the fore he recommends a continued! there was anything exceptional Coupelt felt that" administrative policy of restraint in d veloping leither in the test or its manner control of the inspectors must. be increased taxation at this|of meeting it-'Yet the mete fact. in'its hands and that even if juncture,: that without an in fee, agree to int 'The keynote to his proposal is|taxation, and still with a steady Keraie ander Council conta wou along way for ome of the: pureesey Nest Tonia Ghanghat has' weathered its loan commit: Attempt te ce-operate with the Chinese authorities, ed to that head in public finance, fel to that herd the depression! The Council has clearly proceed No-one would suggest that pru ineligible dss" Yet stein' [rencroed faith in tne Settervente fmeyrencned 9 126% and solid qualities which solid. quale Thuoyantly is indicative of thee anti ne indicate of theled justify un-ling reached in 1931 and the rein the spirit of the understand.
Inter-Reserve funds "on a_Kind "of wil surely be rewarded and 1 there is tendency to put/future.
Text read from the printed page and cleaned; old type leaves the occasional error.