Relief from Roosevelt?

The Nanking Government of Generalissimo Chiang Kai-shek insists that "officially" Chinese Settlement Day, same as Chinese New Year's, is "unofficial." Actually on that day, which falls this year on Feb. 4, every due debt in China must be paid or the debtor irretrievably loses face.

Last week Chinese merchants and businessmen were frantically protesting that President Roosevelt's policy of hiking the world price of silver makes it impossible for them to settle their debts in silver as usual on New Year's. Since silver is China's only medium of exchange, Chinese chambers of commerce sent bales of petitions to Nanking, begged their Government to give them at least temporary relief from Roosevelt by announcing that Settlement Day is postponed for one year. Until very recently the Nanking Government's prestige was far too low for chambers of commerce to dream of asking Generalissimo Chiang to proclaim relief from an old Chinese custom made intolerable by the New Deal.

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