Commander PF, R, 'Davey took a Jeommonsense and helpful line in dis-dificult issue of the silver the meeting of the Debenture Holders of Central Properties Lid. last week. "Wait and see" might be said to be the keynote of his advice and special' attention is drawn to his emphasis on the fact that the action proposed, must not be taken In any way os implying any doubt az to the. inten: tions or ability "of the Chinese Ga ernment "to carry out tu declared Dolley of "maintaining the. exchange Value of the Chinese dollar at existing Tevels in relation to foreign owe The scheme which the Government hag initiated must encounter technical digeulles. They are not insuperable, if confidence be maintained, Without confidence they might assume formid-Jable dimensions beyond the hope of any Government to tackle, Com= ander Davey obviously ickes the ight course of commending cent dence because it 4s the duty of every one in China to give the Government farr opportunity. The scheme, as It has developed, has so far justified the belief that it may help to restore the currents of trade. In any even: the hope of achieving that desirable con summation {s far greater than in, the period of acute. stagnation prevailing before the scheme was announced. Commander Davey, in seeking low events to declare themselves, sets his face firmly against any captious criticism which would encourage the injection of monkey Into the machinery. That ig an eminently sound attitude and has the merit of conforming to the requirements. of
Text read from the printed page and cleaned; old type leaves the occasional error.