Nevertheless, the journal declares, default must bring consequences far more serious for China than would the apparent surrender involved in accepting a compromise solution on lines even if not necessarily identical the Anglo-Japanese Agreement.
Fortunately, "The Times" concludes, there is reason to think that the Chiang Kai-shek Government may yet take & statesmanlike view of the country's true needs.
The "Daily Telegraph" declares that ihe City fully recognizes the natural reluctance of the Chinese Government to give way. To do so, however, may be much the lesser of two evils, the newspaper add:
The "Daily Express" suggests that the solution might lie in the Chinese Government suspending amortization, while defraying the interest.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.