The first acts of President Li Yuan-hung rapidly restored confidence and advertised to the keen-eyed that the end of the long drawn-out Revolution had come. Calling before him all the generals in the capital, he told them with sincerity and simplicity that their country’s fortunes rested in their hands; and he asked them to take such steps as would be in the nature of a permanent insurance against foreign interference in the affairs of the Republic. He was at once given fervent support. A mass meeting of the military was followed by the whole body of commissioned men volunteering to hold themselves personally responsible for the maintenance of peace and order in the capital. The dreadful disorders which had ushered in the Yuan Shih-kai regime were thus made impossible; and almost at once men went about their business as usual.
The financial wreckage left by the mad monarchy adventure was, however, appalling. Not only was there no money in the capital but hardly any food as well; for since the suspension of specie payments country supplies had ceased entering the city as farmers refused to accept inconvertible paper in payment for their produce. It became necessary for the government to sell at a nominal price the enormous quantities of grain which had been accumulated for the army and the punitive expedition against the South; and for many days a familiar sight was the endless blue-coated queues waiting patiently to receive as in war-time their stipulated pittance.