Even the generous summary of the speech made by the Chairman of the Hongkong Banking Corporation is not a safe basis for final conclusions regarding the gen~ eral trend of what must be a most important pronouncement, Comment. at this moment, must therefore @uarded. One or two observations may be permissible, Mr. Mackie': pointed reference to Mr. A. Henchman will be welcomed. During the last few months Mr. Henehmon has borne a heavy burden of responsibility with a high sense of duty and deep solicitude for the best the outcome of bewilderment in the face of a difficult crisis. than the Sir|considered © judgment "of informed Jopinion. It is fitting therefore that, from the highest authority, he should receive public intimation of the Bank's complete confidence in hie Ihimself and those who directed his|handling of the situation. Mr. Mackle himself has the right to demand forbearance in reviewing his speech generally, but it would have been Dleasunt if he could have avoided the use of arguments carrying him into that very error of recrimination which is "deprecated in the interests fof much-needed solidarity of action, Uriess the summary has done him injustice Mr. Mackie seems to have fallen' back on the defensive. With his emphasis on the virtue of _con-Jsultation there will be ready agree ment and it is satisfactory to note his assurance that that form of Yalson is now in active expression. It seems unfortunate therefore that felt impelled to rebut eriticiem by reference to the time when, in his view. consultation. was" not forthcoming. Thereby he exposed himself to the charge of stating one side of the case only and to the pos-DIY of inviting an obvious retort. It fs to be hoped that this will not occur, for the main consideration the present manner of tackling the situation and that, apparently, is marked by every desire to pull together. If it be not, then the caution and wise statesmanship, for which Mr. Mackie rightly pleaded, will ral Chiang Kaishek's blockade. far as information in 'Shanghai goes there are three divisions of Govern ment troops now at Kwelvang, the capital of Kweichow. 'There' are several divisions of Kwangal troop:
the south-east of the-province, and some Kuangiung divisions, who. were thought to have been declined event. tually' to enter Kweichow in pure ult the ods, still in Korangal oh their way. None' of theee bodies of troops has made any appreciable move after the Reds for the las few weeks. It may be. that the Government is planning to do most of its offensive] work fom the nord, a5 divisions are Sent into Seectuan as fast frangport for them can be. arranged There are {wo obvious dangers, how: fever, thet stand out. One is tat the Communists may turn southward and facade Yunnan province—an area that has been comparatively well ade ministered, but is a great source of evens. from opium. The other is the possibility of the Communists advancing into" Srechuan, "crossing the Yangtze somewhere 10 the west of Sushow, and. making their way {nto Kani by that road. As will seen from the review of, the situation that "appears. elsewhere, here seems 10 be a, concerted move. ment of Red bands in many' different aris of the country towards Kaneu which, #€ ruoceastul, will greally com: plleste things for the Government.
Text read from the printed page and cleaned; old type leaves the occasional error.