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I am broke again having cash enough in my pocket to reach Shanghai (for which place I start tomorrow via Hankow and Aankui-) and [[pounds]]75 wan[[?]]ed Letter of Credit.

In about one week I shall have to cable again for money. One of my searchers who went to Honan returned just before dinner this evening with two splendid bronzes which I must carry in my trunk to Shanghai and remit to him from that point. But the buying is now finished and the shutters are up- I have dodged the sheriff this time, but a week longer here would find him in full possession.

I was glad to receive your good letter of August 31st a few days ago. I agree with you in the action of the Peoples State in curtailing demand paper. Six months fixes a time of payment- the old plan was eternal credit- more than ^[[one]] who intends to pay his debts should ask for. I want to pay off all of my debts in January - as the chinese do. They can be copied to our advantage in many things. Glad to hear of the activity in business in America. If my income were trebled its annual sum could be blown in here in a week - and this market, in art, is by far the cheapest I have ever known. 

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with cordial messages to all-
very sincerely yours,
Charles L Freer
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