The evening times., 1896-10-17
CHINA And THE CAPITALISTS
Report to State Department of Recent
Financial Operations There.
American Syndicates Are Striving to
Obtain MonOpolies of various In
dustries and Works.

Charles Dcnby, jr., the American charge
d'arIaires at Pekms during The absence OF
his father, the minister there, reports TO
/ the State Department that the Interest
which American capitalists and railroad
and shipbuilders are taking in China seems
to be on the increase. Among these the
American Trading Company OF New York,
London, Yokohama ana -nanghai has Deem
i tie longest in the field. In addition To ITS
usual business of exporting and importing
| this company has recently Become Tue
| agent OF the Cramp ShipDuldlns Company
| and OF the Union Iron Works
1t also represents an American railroad
| syndicate, ana has submitted bids 1or the
| building of railroad from Soochow to
Chinllia NJ. and for the building III an rlec-
| trio Uramway IN the foreign concessions at
| Shanghai. These bids nave not "A 5 yet been
accepted. During The past winter unls com
pany was sole agent for an American bank
| ing syndicate, and entered into neg utia-
| tionS fOr loan To China.
| II is the same company that has secured
| u concession for u railroad from Chemulpo
10 Seoul, in Korea, ana that has sold two
| ships on behalf Of the CrarDp Company to
! the Japanese government.
Mr 4. W. Bash, of Port Townsend, Wash,
| is the representative at Picking OF wealthy
combination Of capitalists in New York,
who wish to secure railroad, mining aud
other contracts in China. This syndicate
has organized Il company called the nIcr,-
| can-China Development Company, incor-
porated under the laws of the state OF New
Jersey.
Their plans are far-reaching and compre-
| hensYe, but they have not yet been brought
10 a sufficiently definite form to justify
report thereon. It is supposed, how
| ever, that they Will COnfine their attention
10 North China, and that they have at pres
The bethlehem Iron Works have been
repres ented in Peking during the winter
/ by Capt. Zalinski, u. :. A, retired. This
company wishes to obtain orders for coast
defenses, armor plates. disappearing guns.
quick Hiring guns, ammunition, etc, ana
its agent also submitted tothc Yamen plans
for submarine boats. The Yamen seems at
present diincIined to enter on naval con
struCt tion. against which they are strongly
advised by Sir Robert Hart, inSpectorgeE-
crai OF customs
The foreisuc ustomS revenue : now almost
entirely pledged to gay the Rus sS an French
and German English loans OF 100000 COO
taels.
4 further indebtedness OF 80, 900. .OCo
taels, on similar terms, would be required
tomeetinthe balance OF the custom revenue
now remaining. and would leave CHA with
out revenue from this source for many years
to come. Want OF funds will prevent the
purchase Of a large fleet or great investment
in coast defenses
To another American citizen, who has re-
Gently arrived at Peking on financial mis-
sion, particular interest attaches. This is
MIR. Yung Wing, a Chinese by birth, now a
naturalized American, resident at Hart
ford. This is the gentleman who. i'll 1872,
accompanied the Chinese educational mis-
sion to the United States. He has recently
been ordered to PekiHg by the emperor to
discuss with the Yamen the practcability
of establishing national banking system
similar to that of the United States.
Such system, if honestly and intelii-
gently carried out. could bc made to relieve
China OF great part OF her present finan-
cial burdens and put her currency on a bet
ter footing.
No difficulty would he found in taking
up several hundred millions taels OF kontis
TO form the basis Of banking circulation
but 1t is not certain that the money hich
the government would SO obtain would he
wisely used Mr. Yung Wing has the ad-
vantage OF speaking Chinese perfectly. He
dresses in Chinese costume and he is in
intimate social relations ith the ministers
of the Yamen and other officials.
All OF the companies nd agents have re-
sorted to this legation for assista nee and
advice. whfch have been freely and i'm
partially given They have been aided by
introductions to Chinese officials by the
making OF translations and by unofficial
assurances of the standiDg OF the firms they
represent,