The times. [volume] (Richmond, Va.) 1890-1903, 1900-07-11
WEDNESDAY. JULY II, 1900.
RAILROADS IN CHINA,

The Financiers in New York and London,
St. Petersburg and Berlin. who are inward
Nv cursing the Chinese for their lack of
rrosress;reness in not approaching the
privilege of being allowed to ride on
railroad in preference TO being borne in
sedan chair. are meeting with the same
state of mind on the part OF people to
grasp new idea suddenly that confronted
George Stephenson when he tried to get
the British Parliament TO allow him TO
build that parent of all railroads that ran
between Liverpool and Manchester Peo
pie do not easily lay aside the acquired
habits of generations. and least of NIL in
country. where religion consists in following
the customs of ones fathers and ones
Gathers fathers back for some four thou
sand years
In a most interesting article by his Ex-
cellency. Minister WI Ting Fang. from
China to the United States, TO which we
have referred above. it is pointed out that
the railroads that have SO far been con-
Sfrlctcd in China, though at first meeting
with A great deal of opposition, have
Gently grown TO be extraordinarily produce
tive fields for investment. That it should
be so IS not at all remarkable when we
consider first the excessive cheapness of
construction, and second the enormous
amount of local traffic There are thou
Sands of miles of railroad that can yet be
penstructed in China which will run
throughout districts as populous those
surrounding Philadelphia or Boston, nnd
with all the prospect for dividends that
ouch large local traffic will give here The
first railroad built in China ran between
the Kaiping coal mines and the port of
Taku. This line was built simply to carry
COIL. and has proved so successful that
st now pays a dividend of Il per cent on
the whole capital invested, which dividend
II is expected will be increased TO 50 per
cent. when the new branch is opened to
the treaty port of Newchwang
China has an area of about as many
square miles as the Stntes east of the
Mississippi These States have a popula-
ton OF 6o,00oooo, and have 100000 miles of
railroads. China has a population of 800
10000. and at present has 400 miles of rail-
road. The extra ordinary opportunity Of
sered for railroad construction was seen
long ago by the late Senator Calvin S.
Brice, who sent a party of engineers to
China for the purpose of constructing
railroad, and we feel sure that when this
trouble with the Chinese people is settled
the opportunities that will be offered for
investment IN the foreign field will tend
to attract u great deal of capital that is
now lying idle in the large money centers
Russia has obtained an enormous adj
vantage over the other European nations
IN her dealings with China. from the fact
that she has undertaken and successfully
built up Russo-Chtnese bank. through
which all the Russian loans and finan-
c!ering for the Manchurian Railway have
been made. We do not doubt but that
England. seeing the advantage which Rus
e:a has gained from coming into close
financial transactions with the Chinese,
will seek TO do the same thing. and not
only will England attempt. in our opinion
TO build railroads there but she will at
tempt also to start new banks for the eX-
press purpose of financing the roads to be
built.
The benefits TO the nations of the world
who desire TO trade will be not only from
the fact tina, they will have increased
facilities for reaching new communities.
but ALSO because. with the diffusion OF occi.
dental IDEAS and goods. there will come in
eyitRbay. as therefore,. an increased demand
which will prove OF the greatest benea, 10
the exporting nations OF the world.
An increased demand for foreign goods
viii inevitably come fran. the disu.!aa Q:
oee:esata. Ideas and methods.
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IN THE PUBLIC EYE.
David Bennett Hill has undoubtedly
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