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...