The Tariff Conference at Peking has met in most depres-
sing circumstances. The Powers are formally treating with a Government whose writ does not run very far and who may conceivably cease to exist before long. Sun Chang-fang, the Tuchun of Chekiang, has had a consider- able success lately in defying the Peking Government and in driving northwards Chang Tso-lin (the Manchurian War Lord), who is the champion of the Peking Govern- ment. General Wu Pei-fu may or may not be collaborating with Sun, but he is at all events opposed to the Peking Government. - Fcng (the Christian General) is still more or less inactive, but he also is opposed to Peking. There must, of course, be a sufficient reason for this general opposition to Peking, and it is quite easy to discover what it is. All the anti-Peking personages tell themselves that if the Peking Government successfully treats with the Powers and gets a tighter hold over the financial resources of China that Government will be enormously strength- ened. The Tuchuns may then say good-bye to their wealth and their power. • * *
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