To the Editor of the "Nonri-Cinxa Day News" Sim—While the United Kingdom and the United States may have adopted effective measures and secured pros perity (and I doubt whether it is 50)
for one, do not think that such measures can be adopted in China with equal effectiveness, Chinese government 1s but loosely _organized. Such realities we must admit, though high Nanking officials have my deepest respect. And besides, 'Chinese political mentality is, radically different from that of the West, For centuries, the government interfered the least' with commerce fand trade. Government regulation of business is a western idea, the people are not used to it, and the government is not experienced. And we have for centuries led to a more or less Anarchist point of view—that is why we became Taoist, and seemed to be at ease with every hardship and torture.
Economically, we cannot devalue our currency because we haven't got currency. Our monetary situation indeed too chaotic, with confused systems of cashes, small monies, big monies and dollars. We have not 4 currency system by which we can Getermine our monetary value precisely, It Is an easy thing for the United Kingdom or the United States to devalue their currency by going off the gold standard. But how can we do it? China is stil very primiti Tu. production. Industrialization and industrialized "agriculture is very much behind, and we have a social ganization that is totally Asiatic, It Would be a gross mistake, and would certainly lead to ruin, if the Government tried to imitate what wus done in other countries; for it would be just as tragic, oF tragicomic, as the "Imitation of Life."
Hangchow, May 14.
Text read from the printed page and cleaned; old type leaves the occasional error.