It is indeed gratifying to see that the special committee formed by the Shanghai Municipal Council for the purpose of investigating the possibility of instituting price control in cooperation with the French authorities have already got into touch with the latter. It is only to be expected that no details should be divulged regarding what transpired at the meeting between the International Settlement Committee and that of the French Concession, but the fact the two bodies are already in close liaison is a hopeful augury for the future. Of the necessity of establishing some sort of control to put a stop to the reckless profiteering which is manifestly going on in Shanghai at the moment an excellent case has already been made, and the only question which now arises is as to the speed with which this investigating body can reach its conclusions. While there appears to be a slight amelioration in the rice situation, there does not seem to have been any in connection with the other staple foods so much in demand in Shanghai, and while there have not been any more striking increases in prices, the possibility of that occurring unless control is quickly established is something which cannot be ignored. The news from Peiping regarding the situation in North China is sufficient indication of what Shanghai may expect unless corrective steps are quickly put in force. The case in the north is not on all fours with that of Shanghai, owing to the devastation and misery brought about by the floods of last year. Nothing of the sort has happened here, but the rapacity of hoarders and profiteers may contribute towards bringing about a situation analogous if not as bad as in Peiping. Here the increased cost of living has assumed proportions sufficient to cause anxiety lest it goes still higher, for it has to be remembered that directly the prices of foodstuffs soar above the ability of the masses.to pay, then the potentialities of trouble become indeed formidable. Fortunately the experience which the French authorities have already gained will be at the disposal of the Municipal Council's committee, and, with the closest possible ce-operation between the administration of the two areas, there is every reason to believe that a stop can be put to present unfortunate practices before the situation becomes very much worse.
Text read from the printed page and cleaned; old type leaves the occasional error.