present tariff' as amended does operate against the development of Chinese industries is a matter upon which representations have been made to Nanking, not only by Canton, but by Shanghai and other places jin China, and it would seem that a reasonably clear case has been made out for an alteration in the tariff at present existe. Omcial defence lof the changes has been forthcoming, Dut it is permissible to express a Jdoubt as to whether it has been en-lirely "convincing. Experience [Shanghai has already shown that the tariff revised or not has had a very detrimental effect upon trade as wit-Mess the enormous amount of smussling which is going on and which is apparent in certain of the shops in JShanghai from the prices charged.
is obvious that when a tariff reaches proportions at which it be-Jcomes profitable to smuggle a large number of different lines, it. is no longer sound, and does in fact tend to defeat itself. The institution of an Jextensive and efficient preventive service may prove of some assistance, but even that is doubtful, and the best possible corrective is to go. back a form of tariff which constitutes }p0 more than legitimate business can profitably bear. If that necessitated the restoration of the reductions already made to their previous figure that, should also have the effect of meeting the wishes of merchants who see their businesses being injured by. the competition which the changes
Text read from the printed page and cleaned; old type leaves the occasional error.