The times., 1898-10-02

men from twenty to forty years old.
They are the ones who get up meetings
and attend the primaries and bring out
the votes at an election. They have their
fortunes TO make. They feel that the op-
portunities In this country are limited
But afar of they see a strange land of
tabled wealth, and they see there the
chances of the future. The Peace Com
missioners are not coming back from
Paris without establishing some sort of
foothold for us in the Philippines And
when We are once established there. 1t
will be the gateway to our trade with
China. said to Senator Gray the Dem
ocratic member of the Peace Commits
sion, before he started for Paris that If he
gave up one square foot of the Philip
pines / wanted never TO see him again
"A few years ago China was slow to
tawe up with propositions for improve
ment. Today she sees which way things
are going, and she is anxious to get
Americans interested in the development
OF the country. We are in thorough touch
with Chinese officials, and We are salts
ned that every feature of our agreement
with the government will be carried out
so great is China's desire to promote
trade that / understand the government
is going to abolish the likin or tax col
lected on goods passing from one province
10 another, and arrange some other meth
cd of raising revenue. What method?
I'm sure l don't know. I am not pre-
pared 10 finance the Chinese empire yet
But the tax on trade between the pro-
yinces will have 10 go. Already It is dis
regarded in certain parts of the country
and the Hkin houses stand idle on the
border. 1t is probable China will study
the system of Russia and form her tax
system on that. The situation is much
the same in the two countries, and Rus
sia raises revenue without placing any
restriction on trade
asked Mr.. Brice if there was any dan
ger of competition.
'-The enormous cost of the road puts
that out of the question, I think he
said. 1--WE shall reach all the important
points between Han Kow and Hong
Kong. We are planning branch roads Ii
our main line does not run through a
large city. we will build branch TO it.
We shall probably cover the territory
completely If there is enough business
to warrant competition, though. perhaps
I'll build the competitive road"-and Mr.
Brice's eyes twinkled pereeptbly.
American Power and Equipment.
The chief engineer of the new company
will be an American. 1t is probable most
nished by Americans and that American
locomotives will haul American cars over
American rails through the heart of
China in the near future. The road viii
be operated by the American syndicate
in conjunction with the imperial depart
ment OF railroads for four or five years.
Its future is then uncertain. II may pass
wholly into the hands of the Chinese
-
erty of a foreign company. Whatever
the ownership or control, it will serve TO
open up trade in American food pro-
ducts and manufactured goods among
go, ,000, 600 people
The terms of the American loan have
not been made public 1t is probably sim
liar to the Belgian loan for the compile
ton of the railroad between Pekin and
Han Kow Cor Han Kau. as ii is called
in the concession). This road was con-
sidered by an American syndicate. but
owing to the financial disturbance caused
by the war the contract with the Chinese
government was not closed. and the Bel
gian syndicate then took the matter up.
The Belgian loan is S21, ,712. 500 at 3 per
cent. China cannot retire the bonds until
1907. but they may all be called in after
that time The net income of the rail-
way is pledged to the redemption of the
loan; and the railway line is mortgaged
TO the bondholders. All the bonds and
coupons and the movement of funds are
exempt from taxation. The Belg- AN
syndicate is to take s752I, 600 of the loan
at once at a discount of 10 per cent, and
the remainder previous to the year 1892.
Excepting the material furnished by the
Hanyang Iron Works. all material for
construction is to be supplied by the syn
dicate. (which engages to render itself
worthy OF confidence by respecting the
clauses of the present contract and IN
furnishing materials of good quality al
the lowest prices" This material is &c
be exempt from all tax or ikin- The
contract is nullified by war or the dim
mutton in value of the French debt be
low par If the syndicate cannot carry
out its obligations, the contract becomes
void. the Belgian engineer in chief may
be dismissed, and negotiations may be
| undertaken with other nationalities. ANY
disputes are to be settled by the TsunS-
li-Yamen or the Belgian minister, or an
arbitrator chosen by them.
The whole matter is placed under the
general direction of Sheng-ta-yen, the di-
rector general of railways. who also has