"In October the Chairman of the Couneit's Supplies Sub-Committee made the following statement:—
"IL is not customary for the Chair~ man of Council Committees to. ox-plain the policy of such committees in communiques to the press. The position of the Supplies Committee, however, is peculiar in that it is not one of the regular Council committees, "and, moreover, 1 have been Asked to give this explanation of the polley of my committee by the Chalt= man of Council and by the Secretary thd Commissioner Cenerol, So long us there are restrictions on wansportation which prevent nestle tie from coming freely to Shanghai, the Settlement must de-end for'its rice supply on imported flee. In the opinion of the Couneit's Supplies Committee nothing but harm. would come from preventing merchants from selling rice at a price not exceeding replacement cost based on actual transactions plus a reasonable profit, We mist face the fact that it is better for Shanghai to have Fice at a high price than no rice at all In our opinion the experience many business and trades. has shown that merchants will nol import une less they have a reasonable chance (of selling at replacement price. It is Yhe hope of the Couneit's Supplies Committee, which meets regularly study the situation of alt basic comfusdities, that it will prove practicable to prevent sales at prices above this level, To attempt to enforce soles at prices below this level would in our opinion be dangerous in the highest degree even if it were practi> coble. " We prefer to face criticism Father than advise the Council to she a step which in our opinion would be wrong,
Text read from the printed page and cleaned; old type leaves the occasional error.