Since the middle of the last century Chinese tariffs have been regulated by treaties with foreign powers, the customs service organized and administered by foreigners, and the receipts mortgaged to meet the interest on foreign loans. China has never been permitted to levy duties in excess of 5 per cent., and, in fact, as a result of the methods of valuation the duties have not averaged above 3 1/2 per cent. This has been an unjust state of affairs, and has deprived the Chinese Government of what would naturally be one of its main sources of revenue. By the new agreement there is to be an immediate revision of tariff valuations so as to make the 5 per cent. effective. China is also to be allowed to levy a surtax on certain articles, mainly luxuries, which will yield an additional revenue. It is estimated that the total annual increase in revenue derived from maritime customs will be about $150,000,000 silver. It is claimed by some, with a certain degree of truth, that any increase in Chinese customs duties will be immediately covered by liens to secure new loans, and that putting money into the Chinese treasury just now is like pouring it into a rat hole. As soon as China is able to establish a stable and honest government, she should, without question, be relieved of all treaty restrictions on her tariffs. The Conference also took certain steps to restore to China other sovereign rights long impaired by the encroachments of foreign powers. A commission is to be appointed to investigate the administration of justice with a view to the ultimate extinction of extraterritorial rights now enjoyed by foreigners. The powers also agreed to abandon not later than January 1, 1923, their existing postal agencies in China, provided an efficient Chinese postal service be maintained. The system of foreign post offices in China has been the subject of great abuses, as through these agencies goods of various kinds, including opium and other drugs, have been smuggled into China. The powers further made a general promise to aid the Chinese Government in the unification of railways into a general system under Chinese control. They also agreed to restore to China all radio stations other than those regulated by treaty or maintained by foreign governments within their legation limits. In the treaty relating to the open door, the Contracting Powers other than China pledged themselves to the following principles: "(1) To respect the sovereignty, the independence, and the territorial and administrative integrity of China; "(2) To provide the fullest and most unembarrassed opportunity to China to develop and maintain for herself an effective and stable government; "(3) To use their influence for the purpose of effectually establishing and maintaining the principle of equal opportunity for the commerce and industry of all nations throughout the territory of China;