'Various political' factors cause sense of insecurity, and as an out~ [come of lack of confidence, the value of real estate and other fixed assets suffered extreme depreciation. In this panicky atmosphere, retired people, in their home countries, Felinguished valuable, earning pro" perties in Shanghai at auction figures.
required much faith, especially those who had encumbered investments in property, to hold on and tide over till they could see the dawn of a better day. The outlook was dismal and despairing.
The rise of Shanghai from the] nadir of depression to the zenith of Jabundance lay in the following factors. One, Shanghai had already seen the worst in the threat to its political security. 'The reaction was the Defence Force which instantly arrested the agents of disintegration. 'Two, silver fell precipitously for two' principal reasons, viz, legisla tion which effected its \demonetiza-Mon, and sympathy with the disastrous decline in commodities in general. This meant, from the 'Shanghai angle, that silver, which is our money, had become extremely cheap. And' Shanghai being secure again, there were adequate grounds for" investment. Therefore "silver money from all sources poured Nigara-like, flooding the reservoirs of safety. and credit. It tumbled through all avenues, principally real estate, industry, utilities, and general fenterprise~in billions of dollars.
Text read from the printed page and cleaned; old type leaves the occasional error.