Shanghai, May 4, Sin—The cables cannot _alwvai convey impressions az clear-cut accurate as the opinions of pr correspondents in summing Up. country's economic and political conditions: This from" an observant friend may interest your readers who desire to know something of England's reaction to the present conflicting Whirl of political fancies and econo: thie heresies, "The' correspondent T hardly know what to make of prospects in this country. Beyond any reasonable doubt prosperity has been slowly spreading In every, branch of industrial activity "and these are to my mind no real indications that this Is. transient or superficial. It is the politico-social aspect that preoccupies faith and credence. Not enough men are being reabsorbed into industry. - The drift is continuous but slow and mechanization works the other way. The gap between the prosperous and the indigent isnot necessarily wider, but the unfortunates are more conscious of it, more resentful, more vocal, more impatient of the process of evolutionary change. The Socialist leaders talk more wild. ly" instead of less wildly concerning their actions and reforms when they return to power. So far from being more moderate they are scarcely dis-Unguishable from communistic utterances, heartily as the two parties detest each other. It is openly said over and over again by responsible parties that the Banks will be nationalized and controlled, erediy antt all the functions peculiar to Banks witt be subject to. political "advice" fand pressure. ty does not need a banker to visualize the consequences lof such an. action. Moreover, a Socialist leader not tong ago said. Well T expect there will be a panic and the. Banks wilt lose a lot_of money but it doesn't matter. They fre not veally producers and we'll joon take over and dispose of that Uitte diticuity." "The prevalent idea that the Banks and the Money Market only represent a fetitious Power and wealth and are really a kind of parasite bogey which Demo. cracy" would be well rid of. They have a control of credit and generally upset things a bit, but they/ll be put their place, ete.
Text read from the printed page and cleaned; old type leaves the occasional error.