We can only chronicle some of the events in China.
Deductions from them are scarcely worth drawing, for the events as well as the men concerned are unaccountable. The Kuomintang is making a great effort to assert itself as the Government of all China and has received fresh recognition from an unexpected quarter, the Vatican. Pronouncements, some of them unexceptionable, have appeared, but the only progress made is on paper. The leaders already include groups that will not meet each other in session. No real progress at all is made along the lines of disbanding military forces or fixing the currency, although the more moderate leaders are said to realize the value of the advice given by the bankers and merchants who have spoken their minds. Certainly Mr. T. V. Soong, the nominal Minister of Finance, sees their wisdom, for he has plainly told the Kuomintang that their finance, so far as any exists, is chaotic, and has implied that national finance cannot be run on the principle of extracting all visible supplies and rendering no account of what happens to them.
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