The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-08-18


the treaties which clearly defined her in.
aepenaent status. and thereby to in1urs
the rights And latereSts Of lavan ana H.
sstroy Forever aii assurances 81 veaee III ~,
EAST 9RdSfng from the actions 0f CAsna
So lar. her scheme must have aimed At ths
sacrifice oi aii peaceful guarantees and the
assenap.sSement al al costs OF her own
oeleess. To this stage the situation has
now developed.
Though u has always eeen orr desire
70 maintain peace wath al nations. aaa in
uoaaS - 10 display The glory Of cur en-.
pure Al home and abroad ne have uow ~,
course opea 10 Us bat 10 declare war. in
ihe hope that We may 5e able 10 restore
peace n good time aud thns TO vinasca4a
TIE prestige Of Japan hy the LOYALTY and
bravery OF our subjects"
LONDON. Aug. 1.-THE linaaeiers AZ thl.
city. Berlin and other carltals of Enrers
are eagerly discussing the proposed Chi-
ness loan. Inquiries made by reporter
81 the Associated Press at the otics OF
Jaraine. Aatheson & co, Loadon sni
Ihina merchants. and at the offices OF the
honsSong& & shanghai Banking Company,
snow that the loan which the great bank.
ing institutions OF Berlin are said To be
hoatlng Tor China amounts 30 t0.ooo. 90
tae's. and not TO zl0. .eo0 coo. as previously
announced here and IN Berlin. A tael is
csilnated 90 be worth about one ounce and
one-thlFa o. silver, or. roughly speaking.
shiilings Sterling or $l 4a Supposlng
that this amount represents the value Sf
silver OF the weight Of one taeL Ii aprears
that about month ago China Inquired
through the Hongkong & Shanghai bank
Tor the rate at which such loan to Ia
made in silver could DO effected. The bank
lmmediatel offered TO loan she Chinese
government ki.ooo. 900 sterling. Jardine.
Matheson 4 Co. who had also been con-
suited in regard TO the proposed Chinese
loan. offered 90 loan China another 81 co.,
coo, or as much money as the governments
should require. but Vieeroy Chang de-
clined both offers at that time, saying
there was no Immediate necessity for tho
loan, 80 China had plenty to GO on with.
Later. however. it became known that in
view OF the repayment of the last portions
of the present and @ per cent. gold bonds
due at the Hongkong & Shanghai Bank
ing Company in January, fsa5. and in
view also of the war needs. China desired
to increase the amount OF her avaslahls
cash. A syndicate of German bankers
was at once formed in Berlin, and their
agents at Tienstin were instructed to ask
Viceroy Ii Hung Chang tor sn option ON
promoters followed the example OF the
German bankers. and Ii Hung Chang and
the Chinese minister here were besieged
with oilers from responsible and irre-
sponsihie parties anxious TO have a share
of some description in the Chinese loan.
AS a result, il is probable that over f6.Oo0,-
600 was offered 60 China, and this pro-
dueed tho result that China was not
priF 81 A
for her loan. There il no doubt thak
6l. 500 600 gold will be issued here early
In September. The loan will probably
consist of per cent. thirty-year bonds.
and az least two-thirds of this amount will
be payable TO China in silver For this
loan there Is no special security, like the
customs receipts, but only general faith in
China It is not believed that Berlin will
have any controlling hand in the issue Of
the loan, although probably Berlin will be
compelled 10 take portion Of the loan on
ground door terms.
There is q great scramble among finau-
ciers, including London brokers of oil
ranks, to get on the inside of the opera
ton, and there Is no doubt that the loan
is obtainable in London twenty times over.
The negotiations for the loan have al
ready affected the price OF silver, and there
is no question that silver will 60 higher.
Some of the tinanclers predict that IL will
60 as high as SD per ounce. The hard
ness OF the silver market Is most pro-
nouneed, and IL has sympatheticaliy
hardened the price of copper.
SHANGHAI, Aug. 1.-THE findings of the
court in the official investigation at
Shanghai Of the sinking of tho Kow
Shung Is that the steamer Was sunk on
July Is by Japanese naval vessel. and
that Can't Galworthy and the officers Of
the Kow shung showed great coolness
and judgment under the trying conditions
of conflict. The court added that tho
kow Shung's officers used all the means
In their power to avert the catastrophe.
and deserved high praise for their efforts.
Torpedoes will be laid at the entrance Of
Tokyo and NsgssakI harbors early nexE
week.
The Japanese government has promised
Admiral Fremantei, who commandsssbs
British squadron in Asiaiic watersNo
give forty-eight hours notice ia case the
Japanese fleet bombarded Wcihaiwci or
Cheefoo.
The eight vessels that passed Chsefoo
westward bound on July II were tho Chi
nese fieet fleeing from the Japanese eruis
ers. The feet went TO I.alkungtae. north-
west Of Cheefoo, where 10 has been lett un-
disturbed by the Japanese.