London, Dec. 21.
The Japanese promise to open the Yangtze River to third party shipping is regarded favourably in well- jį informed circles here, as -giving evidence of a more constructive policy on the part of the Tokyo Government.
Says "The Times" diplomatic cop-respondent: "Its object is clearly to pave a way for better relations with the United States, in the hope that the State Department will renew the commercial treaty with Japan.
"Its secondary object may well be an improvement of Anglo-Japanese relations.
"In any case," the correspondent adds, "the Japanese Government are considered to have shown not little courage in initiating a policy which cannot commend itself to the advanced' elements in the army."
"The news that the Japanese are to re-open the Yangtze up to Nanking to merchant traffic of all nations, has naturally been welcomed," says "The Times" in an article toda For Shanghai's Trade "It is the first direct step towards a restoration of Shanghai's entrepot trade," the journal declares, "but the tual effect of the move is in reality not likely to be very great."
"By devious ways, goods have been frding their way from up-country districts to Shanghai, and these arrivals have been supplemented by cargoes brought down the Yangtbe by Japanese shipping; the acti lof that port have been slowly rev "Nanking," "The Times" adds, little more than 100 miles up the Yangtze, and the section below Nanking is but a small part of the long course of the river into the Chinese hinterland.
"To exert any important influence on the volume of river traffic reaching Shanghai it would be necessary to open the river up to Hankow.
"Nevertheless," the journal concludes, "this latest development is a hopeful sign, and as such, has found a reflection in a firmer tendency in exchange rate of the Chinese della:—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.