China's tariff has been for centuries not a national but an international affair. Most of the loans by foreign states to China have been secured by mortgages on her tariffs. Until recently these mortgages were further secured by placing the collection of Chinese tariffs in the hands of foreign officials. Last week, however, the new Nationalist Government moved to alter this situation and announced a new tariff schedule, effective Feb. , 1929.
Some months ago the Nationalists served notice that they would no longer tolerate foreign control of China's tariff machinery (TIME, June 25); and last week it appeared that no Great...
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