October 9, 1917 The Consul invited us to a house boat party on Wednesday. The Fall weather is clear and crisp and delightfully stimulating. Finance in China, as conducted by the European Banks which control the country, is a raw deal. All values are based on the Tael, which is not a coinage system, but a mythical affair in the shape of an ounce of silver. After your gold is converted into tael at the usual discount of (4 or 5%) it must be again converted into Mexican or local Chinese dollars at another 4 or 5% discount. The Chinese have tried to regulate their own coinage through Chinese banks, but the European Banks are too strong for them. A common vehicle on the streets of Shanghai is the wheel barrow. A single Chinaman trudges along behind the barrow which has a great wheel in the center covered by a stage so that the cargo does not touch the wheel. Loads of merchandise and even lumber are carried on the barrows.