The Daily Alaska empire., 1936-01-11

out of the water magnificenty Built to the very top with marvellous system of roads its 1900 feet arc readily accessible to the motorist We reached the peak at twilight and for forty miles we could see the vast marine panorama, studded with islands, coored and entrancing against the orange and yellow back drop of the setting Below was Hongkong, its harbor filled with shipping, batteships of Britain maintaining the majesty of the nation in the Far East; ships of flying every flag junks with their multi-coored square-cut sails and sampans filled with the products of the vast river valleys behind
 We intent on making sde-trp to Canton some 90 miles up Pearl River from Hongkong but the time for stay limited and missed this most interesting place One the busiest industrial cities China of that type of industry of which China can boast it is the center of silk and textile weaving pottery and of all the allied industries It is sidered of the densest populated cities in the world with quarter million people living in river boats.
 The day reached Hongkong the silver problem had reached most acute stage. Complaint was made of our American silver policy which had resulted in
 most deflation throughout China, depression which had escaped the country during the year 1929 to 1882 This depression resulting in con- fusion in many ways, it pointed out particularly aggravated by the continued flow of metallic silver Shanghai, for reshipment and sale to the United States With the silver dollar going up Chinese money became Qearer III terms O1 foreign currenceS and consequently export trade has been falling off con- tinuously unlike that of Japan, where domestic cur rency depreciated and the country placed d basis where she could export her manufactured pro- ducts to advantage.
 We now have the spectacle an English writer puts it. of seeing China de-capitalized great, un- developed country needing foreign capital is having what remains of it's capital exported for sale result of the intricaces of a currency policy not of her making.
 Then there is the political picture, with North China chieftains wing with the rulers of South China for that dominance which may at some dis tant date lead to united China It doubtful if this eventuality is anywhere hand for goes on, the influence of Japan in China becoming more and more effective.
 During our stay in Hongkong we heard rumors that it would not be many months before further inde- pendent states would be set up in north China prob ably to function advantageousy Japans economic future as did Manchukuo.
 China, with fifth of the worlds population, and only two percent of its external trade traditonaly rich as prize for exploitation. But it is doubtful if the American program there will yield anything to the radtionally tolerant and altrustic American business man.
 Although she has congestion of population her most fertile river valleys there many of China as yet totally untouched and undeveoped Wherever railroads have been built and reasonable order maintained in the that are served there has been rapid and worthwhile development. More railroads needed better transportation is required before the territory distant from the seaport can have removed from it's future the dead hand of old China. The people of China have industry they are traditionally skilled and dexterous and with their capacity to work and live a minimum scale const- into may be built. But she must have outside capital and until the vagaries of the present are removed; the political situation clarified the currency situation stabilized; and greater confidence built into the name Of China than exists today, she must perforce con- tinue to along she has for the past ten years
 football of fate. Sad, sad China, with only the good wishes of America to help her along the stumbling way Of the present Japan eager to dominate offer ing to help, but demanding economic favoritism that might prove to be too steep price Lack leadership and a burdensome militaristc policy are two other factors that are helping keep China backward
 Today we embark for Manila, to participate in the festivities that will give to the Philippine Islands their independence, under mild suzerainity for ten years when complete independence to be hers It will be an occasion of rejoicing for the islands, and day of history for the world-a nation giving back rich and coveted prize to the people inhabiting it. What dominion in the Far East one today is wise enough to tell.