The Chinese Government plan of inducing Chinese in Shanghai to move their idle money into the interior to develop natural resources under Chungking's control is beginning to take shape here as it is reported that former Chinese civic leaders in the city who still exercise great influence are conducting negotiations with Chinese bankers and merchants here with a view to materializing the scheme.
Messrs. Tu Yueh-sen, former Chinese civic leader in the French Concession who is himself a banker, Chien Hsing-tze, former vice-president of the Shanghai Civic Association, and Wang Hsiao-lai, chairman of the Shanghai District Chamber of Commerce, are said to have drafted a detailed scheme for using the idle money in Shanghai which the Chinese press says is responsible for all financial and speculation troubles in Shanghai. These three influential civic leaders are in Hongkong and they have telegraphed their plan to those Chinese civic leaders who are still in Shanghai.
Hope is expressed that the Chinese in Shanghai will ce-operate with their civic leaders in this respect but what is exactly mentioned in the written proposal has not been revealed. The results of their efforts remain to 5e seen but a Chinese banker admits that it is a difficult thing to do in Shanghai.
Text read from the printed page and cleaned; old type leaves the occasional error.