United States Export-Import Bank credit of U.S.$25,000,000 enabled China to obtain credits from other countries totalling over U. $50,-
000,000.
This, he continued "had a magic effect, not only reviving but stressing the spirit and morale of Chinese resistance because it made China understand she was not deserted by friends in the darkest hours of distress."
The United States again gave China a "magic touch," he said, by announcing in July the abrogation of the 1911 commercial treaty with Japan.
"This once more has given the greatest encouragement to the Chi-rose nation because it came when Britain had just been forced to make an important concession in the negotiations at Tokyo," he said.
discussing the effect of the European war on China, Dr. Hu Shih said the original fears had been allayed.
Text read from the printed page and cleaned; old type leaves the occasional error.