Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1901-06-08
CHINESE KDEMNITIES
Now Receiving the Earnest Atten
ton of the Powers.
THE AMOUNT DEFINITELY FIXED

All .he Powers Agree That Chinese
Must Pay sss7. 100000, and the Ne.
gotiations Now Pending Are As to
How This Vast Sum Shall BE Paid.
Washington, June 5.-The ELAN OF a
/ moaus viyendi 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
rupuon in the concert Of the powers
and at the same time to remove the in
oemnity 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
~ concerned, including the British.
Russian and French ambassadors and
the Japanese minister. II is because
Oh the Importance attached to these
negotiations that several of the ambas-
sadors who had intended to leave for
Europe have now deferred their de-
parture for month.
AS 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 sS37, 600. 600
But there remains the question of how
this amount shall be paid, The Rus
sian suggestion, which appears to have
the approval Of majority OF the pow.
ers, is that China issue bonds for the
fulI amount, and that all the oowars
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-.
pnshed up to the present time. and II is
Tor this reason that the modus yivendi
is now being considered as a possible
means of bringing about united action.
The British government is not favor.
able to the Russian proposition. and
the British view has taken form in a |
plan to have China issue her own
bonds to the several governments.
each government thereafter adopting
Its own course as to an individual
guarantee. The policy OF the United
states concerning the Russian promo |
sition was made known in part during |
the presidents western trip, although |
the final course of this government Is |
still considered open and is the cause |
Tor the extended conferences between
the ambassadors and Secretary Hay.
The chief difficulty which the Uni.
ted States finds as TO joint guarantee.
is that the constitution does not au.
thorize the executive to guarantees
bonds in the absence OF the approval of
congress. AS to the attitude of con.
gress 1t has been stated during the ne
gotiations that 1t is very doubtful
whether the Legislative branch wo,ld
approve joint guarantee of such a
vast total of bonds Moreover. the
American view has been that per
cent bonds, as contemplated by Russia.
would not be prudent investment for
the United States, since the United
States readily sells bonds at 2Ib per
cent, whereas Russian per cent Sc
curities sell at SO cents on the dollar.
When tais indemnity issue is settled
I is believed that fully so per cent of
he Chinese negotiations will be dis.
posed OF. The next question will be
permanent treaties with China, and on
his point 1t is expected that each of
he powers will suggest certain bases
81 a treaty and that these ultimately
Will take form in a common form of
reaty action