The effect of the Government's Geeision to nationalize silver on the Verlous contracts. which contain "silver clauses", is being canvassed. It is understood that the authorities took due account of the possible: issues which might arise from their faction, but that experience must largely guide them in the provision of the necessary means of adjust-rent." It seems clear that tenants, for example. will be justified in ignoring the silver clauses so long as they pay their rents in the local dollar currency. The position in regard to Sliver clauses im securities like de-Dentures is not so readily ascertain able. Legal opinion is sure to be taken on the subject and it will then be open to the responsible authorities to decide whether remedial action is necessary. Owing to the diversity of the clauses careful consideration will have to be given to the merits of each particular case, Generally "may be said that the essence of the scheme is the estlishment of confidence in the currency. To that ené the good sense of the community may be trusted to work, provided that the Government's other calculations prove well-founded. The Government, as well as the for-ign authorities who have shown their adines to ce-operate in working the scheme, will assuredly do all that is possible to smooth over dimculties, if Only for the sake of securing the requisite measure of support.
Commissioners thus decorated: Mr. J, Klubien of Nanking, Mr. P. G. S. Barentzen of Shanghai and Mr. IE. E, Jordan of the Inspector-General Secretariat: "Mr. Kiublen and Mr. Barentzen both received promotion for in May 1928 they were created Knights of, the Order, in which they now rise to the dignity of recipient of the Silver Cross. The Customs Service selt will doubtless. derive satisfaction from the knowledge that officers who have attained to distineton under its auspices are thus high-esteemed by their own sovereign. There 1s good reason to emphasize this view since it draws attontion to the valuable contribution mode to International relationships by foreign officers in a service which may be fairly said to be the basic structure of Chin administrative organization and a strong guarantee of her financial and commercial stability. These ofoers have loyally discharged their obli tions td the Government they serve and, in so doing, have eightly earned the approval of their own nation,
Text read from the printed page and cleaned; old type leaves the occasional error.