Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1901-06-07
CHINESE KDENNITIES
Now Receiving the Earnest Atten'
ton Of the Powers.
THE AMOUNT DEFINITELY FIXED.

All the Powers Agree That Chinese
Must Pay sa8zoooooo, and the Ne.
gotiatiOns Now Pending Are As to !
How This Vast Sum Shall Be Paid.
Washington, June 5.-The plan of a
modus vivendi on the subject of the |
Chinese indemnities is now receiving |
the earnest attention of those interest
ed in the Chinese negotiations, the
purpose being to prevent this indem-
nifty question from causing any inter-
ruption in the concert of the powers
and at the same time to remove the in
demnity issue itself so that progress
can be made on the remaining subjects
of negotiation, chief of which is the
conclusion of permanent treaties be-
tween China and the several powers.
The question over the indemnity arose
during the presidents western trip,
but since the return of the president
and Secretary Hay it has been taken
up anew and thoroughly gone over
with the foreign representatives chief
|
Russian and French ambassadors and
the Japanese minister. It is because
| of the Importance attached to these
negotiations that several of the ambas-
sailors who had intended to leave for
Europe have now deferred their de-
parture for a month.
AS a result of the exchanges of the
last few days the question has resolved
itself to about the following basis:
There is no further issue as to the
total of indemnity, that being agreed
upon by all the powers at 1897 900, 900.
But there remains the question of how
this amount shall be paid. The Rus
sian suggestion, which appears to have
the approval of a majority of the pow
ers, is that China issue bonds for the
full amount, and that all the powers
then unite in giving a joint endorse
ment, or guaranty, of the payment Of
them. The desire has been not only
to secure the assent of a majority Of
the powers to this scheme, but the
unanimous approval of all of them
This, however, has not been accom-
plished up to the present time, and it Ii
for this reason that the modus vivend
? is now being considered as a possible
). means of bringing about united action
f The British government is not favor
e able to the Russian proposition, ant
the British view has taken form in
= plan to have China issue her owl
}, bonds to the several governments
each government thereafter adopting
S its own course as to an individual
s guarantee. The policy of the Unite
h States concerning the Russian propC
sition was made known in part durin
the presidents western trip, althoug
the final course of this government i
!. still considered open and is the caus
for the extended conferences betwee
the ambassadors and Secretary Hay.
Il The chief difficulty which the I'm
r ted States finds as to a joint guarantees
10 is that the constitution does not al
,F thorize the executive to guarante
:, bonds in the absence of the approval {
- congress. AS to the attitude of col
gress it has been stated during the n
gotiations that it is very doubtfr
- whether the legislative branch woul
"a approve a joint guarantee of such
:. vast total of bonds. Moreover IL
American view has been that pr
70 cent bonds, as contemplated by Russi
q would not be a prudent investment fl
"a the United States, since the Unite
States readily sells bonds at 21a p
q cent, whereas Russian 4 per cent S
curities sell at SO cents on the dollar
~ When this indemnity issue is settl'
~ it is believed that fully 80 per cent
the Chinese negotiations will be d
posed of. The next question will
RI. permanent treaties with China, and
n this point it is expected that each
il the powers will suggest certain bas
ed of a treaty and that these ultimate
IS will take form in a common form
RS treaty action.