The times., 1898-01-06
THURSDAY, JANUARY G, 1898.
The Lion and the Dragon

1t has often occurred to students Of
international politics to take notice
that, among all the powers of Europe,
Russia has kept itself in a condition of
freedom from the overpowering influ-
enee Of the money lenders. In one way
or another, since the change came
from political and dynastic control over
the policies and movements of
other old world nations, to that Of
domination by the pawnbrokers, Russia
alone has been able TO say at any time
that its course was not dictated by the
interests of the great British and Con-
tinental financiers. Were this not SO,
the balance of power would not be
what it is in Europe. England. France,
Germany and Austria are compelled to
consult the Rothschilds. and a few of
their more important associates before
assuming any initiative that might
lead TO war. Russia is not,
and, holding the great and in
dependent power she does, with
a splendid army and no grinding mort
gage on her resources and possessions,
is competent not only TO act independ-
emily, but to dictate terms to neigh
boring or allied nations not so we'll
situated This fact should be consid-
cred as an important one, in any analy-
sis of the situation as today it obtains
in Europe.
Also. il may have some bearing upon
the relations which the eXigencies of
81,
pean nations TO assume toward that
Empire. and each other Let il be re-
membered that Russia is in a situation
TO finance China, supposing the Car
wishes to- without recourse to the
money lenders: no other country is.
Russia has reserve emergency fund,
outside of budgets or liabilities,
amounting to, anyway, several hundred
million dollars, This has been accu-
mulating through three reigns, and inn
mediately is available. In an era when
cash is the ultimate power, this factor
in the situation is not to be ignored.
We are minded to mention these
things, in view of the statements of the
London Times, and other official, or
semi-officiaI, British organs. that Eng
land is about to help out
China with loan OF SS0,0e000.
and to guarantee the same.
For this assistance. it is said that the
Chinese government is TO place its land
tax revenues in British hands, by way
of interest and sinking fund. and to
appoint a British successor to Sir
Robert Hart. as director general OF
Chinese customs. In other words,
Great Britain expects to resume her
old prestige and paramount influence
at Pekin. as a judgment creditor.
1t is impossible To conceive in any
way that Russia viii allow this
The Car has supplanted the British
influence in China. He has not done
so without due deliberation. or with
out preparing to maintain the position
gained by diplomacy, and in the last
resort, by arms. Russia's interests
now are interior as to China Her
trans -Manchurian railway system viii
extend from Siberia to the end of the
Korean peninsula. She cannot afford
TO allow another power to dispIace her
ia Korea, or in northern China.
There is significance in the state
ment, contained in yesterdays dis
patches from St Petersburg, that
Russia would be able TO lend China
what the latter needs, on much better
terms than could be obtained In Paris
or London. The Russian government
has the money necessary in its strong
box. In case of necessity it win come
out, rather than allow another mort
gage on the premises. But il is as
serted in the British press that the
government of Lord Salisbury will
make Its financial control over China
an ultimatum. The papers do not eX-
actly say that. but it is what they
mean. We think they are mistaken.
Possibly. Great Britain is ready to go
to war. In that event the question will
be settled in the way in which, ulti-
mately, it must be. Otherwise. there
Will have to be a baclx-down, and Rus
sia will continue to dictate Chinese
policy at Pel1in, and remain. what it is
today, the chief power of the world in
Asia.