In conclusion, reviewing the thre decades certain salient features noted: 1. The importance of security and sound administration, 2. Fruitfulness of the amalgamation of Chiese activity and industry and for~ eign leadership. 3." The value Shanghai's varied international chat acter.
The last characteristic has reflected {itself somewhat in the municipal government of this great city from time to time. Tt was not until 1926 that the Chinese had a voice on the Council. "The Japanese have been well represented and have become more assertive in recent times, At the moment general interest is being stirred as to the future constitution of the Settlement, Shanghai's eapacity for recovery depends on its harmonious international "relationships. 'A blow to that essential state would be an irretrievable injury.
Text read from the printed page and cleaned; old type leaves the occasional error.