In the great trend of Chinese' aptitude to acquire and develop west fern methods of material progress, tis tes considered that bbullding-up of means of communication takes Arst place' in the internal reorganization this vast country. Railways, roads, ehways, wireless. telegraphy, and. Long-distance telephony, the nerve threads, of which Shanghai is the brain centre, are making such progress that it offers "the best grounds for optimism" in the future. This.
a great feature which redounds to the credit of the Nationalist Government, The period covered from 1930 to 1935, 1s'0 voluminous that adequate treatment cannot be accorded it in. the limited space of an article. One can only touch upon the high lights.
Silver, foreign exchange and ci sene were among the chief prolems. In 1934 the country lost $256, 700,000 as compared with the previous record of $48,600,000 in 1907. Principal points were "stability of ster~ ling and the off-gold currencies of countries within the so-called gold. Dice, the embarrassments of the gold-bloc, U. 8. Silver policy and the effect on China." Fears of devaluation and high interest rates, bringing about a financial panic, were! cardinal elements in the position.
Regarding the adverse trade! balance, there has been a reduction of more than one-half of the excess of imports over exports during the last three years due to a decline in purchases, In 1833 the total note circulation was about $00 million, of which the Bank of China led with 184 million followed by Bank of Communication 93 million. On September 17, 1935, the Central Bank reports' total! mount of its Dollar Notes and Sub: Sidiary coin Notes in circulation as' $114 million against cash reserve of $88 million and securities' reserve of $26 mall lion.
At present the Government-controlled banks hold most of about $800,000,000 of silver in Shanghai, and the total held in all the Chinese banks ten times the amount of the metal kept by the foreign ones. It is readily seen, therefore, that con-carted action of Chinese banks is the shown titanic expansion and develop ment, and represent investments, running into the hundreds of million.
Text read from the printed page and cleaned; old type leaves the occasional error.