The Archive · 1938

New Economic Era

Although the Foochow Arsenal does not compare with those in foreign countries, it and the Kiangnan Arsenal are, or rather were, the largest Chinese dockyards in China, The former, however, has remained for the last seventy years—since it was established by Tso—as an isolated Joasis in an industrially backward [province and has had but little effect, on the modernization of the economic life of the surrounding districts.

The Lanchow Woollen Mill, also created in the sixties by Tso, though. inow not in operation, marks a new jara in modern economic history in [China, Tso was the first Chinese statesman of the nineteenth century {to have had the foresight and courage initiate what might have led to this "ent country. Perhaps the result lof Tso's work has been but meagre, but the innovations of this farsighted gentleman can be well said to mark the beginnings of a machine lage in China—rar.

Text read from the printed page and cleaned; old type leaves the occasional error.

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