To the Béltor of the "Nonri-Ciaxa Dany News"
Sm—Disregarding Revens IMepaiuie's sneering and' wholly unjustified remarks in regard to the various correspondents, including the writer, whose letters on behalf of the tenant's case appeared in your paper, as not deserving serious attention, 1 would like to say a few words fon "the subject of the currency. situation in Shanghai as affecting the public in general and landlords in That the depreciation is a: source Jot misery all round is admitted by everybody, but it there will be any to benedt by it it will be the landlords mostly. It is a well-known fact that the majority of properties in this jolty were bought "with borrowed money, the Chinese and American' JCourts' having been particularly Htenient in cases of foreclosure, and. should of. ur 1a M's prediction coma true there may be a time when land-fiords will be able to repay the loans they received in worthless bits. of paper, remaining for themselves the full possession of the lands and' Jbuitdings they acquired with some body else's good money. They will thus be in possession of solid values no matter what happens to the dollar, while those who have loaned them the money will ose everything. Since HR. or tA M. is 20 deeply concerned over' the landlords! reas perhaps: he' will also find a few tore fo shed over ihe fate of their would. be victims ditions invested in debentures ears "There are also millions
ing ed tale of dividend and yyable ip currency. Such investors have no choice but %o watch their hard-earned. savings, perhaps savings of a lifetime, dwindle, away fand with them moat' of their dreams for vacations, retirements, ete." These people. neve not been" speculating. Why should Ror a A. ware all sympathy on landlords when so much fr it fs needed im other dissections? tingeed," one could go on naming ldovens' of deserving causes, and' for tie Tite of me T cannot see why the public should spread itself' out in order" to" facilitate the evercrsing demands for higher rents, As T pointed out in my previous citer, landlords now enjoy art income lo 30' to. 50 per cent. higher "than {he pre-hostilities days, and Tam incited to. thinks that contain. types of landlords restive muh more, A French Tend company, for instance, raised the rents to" their foreign tenants by 90 per cent, ana' ly stil demanding higher rents' (Docs lex" 'M. believe that such ruthless extortion should go on unopposed?
"To be sure, there are a few who enjoy the benet of- income. from foreign currencies. "Though 1 am for one of them T wish them' all the fuck'in the world, It ts their "dog's day" a8 the landlords had theirs, and should share their bit of good luck with their Iandlords than for the latter to give up @ part of their solid investment in property in favour of those who have invested their money jin debentures which bear now but fraction of their original value, 'The arent bulk of tenants, however, consists of tradespeople, clerks, professional men, workmen, ete,' who derive their income in local currency fand who for the most part, dnd it Jdimeult to meet the high cost of hiving as it is, 'They give' to the landlord his full. share, and. more, 'A few more words," to answer a Jquestion put by R. op La M—any law Which protects both sides is a good aw. 'The Chinese Courts have shown enleney to the tenant, but were it not for the same law many' owners fof property would have been today paupers Voice oF Smaxcnat. Shanghai, August 22,
Text read from the printed page and cleaned; old type leaves the occasional error.