The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-08-14
RUSSIANS ARE
SEEKING A LOAN.
New York Bankers 10 Visit the
Peace ENJOYS Now at j..
Portsmouth.
PROBABLY FOR INDEMNITY.

Way May Be Found to Pay Japan
and Still Save Russian Pride.
Messrs schln. straus and seliEman Ex'
pected At the Scene OF the Peace Con.
ference To-day ENJOYS Did Not Hold
Sunday session-Jsps wanted Time to
Consider wording Of tho Agreement
on Corea-Feellng in POrtsm outh More
Hopeful Than Ever That There VIII 10
Agreement at the Present Conference.
PORTSMOUTH, N. H.. Aug. ls-Never
since the ENJOYS Of Russia and Japan gath
cred at Portsmouth we're the prospects Of
peace as bright as they are now. This
statement is not a mere conjecture, based
upon the fact that the plenipotentiaries
have reached the stage Of discussion IN
itself most hopeful sign, but upon the
knowledge that Russia Ia engaged. through
her ENJOYS here in efforts to raise money
which II successful would enable her to pay
an indemnity to Japan.
Jacob H. Schin OF the New York banking
house Of Kuhn, Loeb q Co., and Messrs.
straus and seligman Of the banking house
of. 4 W. Seligman d Go. are expected here
tomorrow for the purpose Of consulting
Mr. Witte and Baron Rosen with respect
to eeotiating loan to the Russian Gov
eminent.
In the absence Of an authoritative state
ment on the subject there is unofficial evil
denoe that the Russians have been convinced
from the first that they might ultimately be
compelled to remunerate Japan for the
expenditures to which that nation has been
put to prosecute the war.
This seems rather bold assertion in the
face Of the repeated declarations that
Russia would never pay a penny Of indem-
nifty. But there are moro ways than one
Of adjusting monetary differences between
warning countries with satisfaction to the
pride Of tho payee, and there can be no
doubt that the ENJOYS who are here will be
able, II there Is an honest attempt at agree
mont, to arrange basis for the payment
by Russia OF part, at least. Of Japan's war
expenses in exchange for important conces-
sions by the Toxic Government.
The action OF the United States Govern
ment in paying to Spain the sum Of so ooo.-
900 to secure bill Of sale for Spanish Gov
eminent works and ordnance materials In
the Philippines set an example which may
prove the foundation for an amicable ad-
justment OF the differences between Russia
and Japan, although in this case the prin-
cple would be reversed and the victor
would return instead OF retain the territory
or property he had captured and receive q
monetary confederation for his abandon
ment Of what he had secured by right Of
conquest.
wrrrE THE NAN TO NEGOTIATE LOAN.
Reasons OF prudence and good faith
require that certain important facts show
ing that the negotiation Of a Russian loan
has been and is contemplated shall not be
disclosed. For the present all that may
properly be disclosed Is that the proposed
financial arrangement Is not the outcome
Of tho note presented by the Japanese
ENJOYS to Mr. witte and Baron Rosen on
Thursday, In which the terms Of the Toxic
Government were laid down. Russia had
evidently given consideration to the sub
jeot prior to the milling OF the Ports
mouth conference and had approached
great banking houses in Paris and Antwerp
with view to ascertaining whether loan
Of large size would be placed.
This knowledge brings up the question
whether the substitution Of Mr.. Witte for
Mr.. Muravieff a. tho chief plenipotentiary
Of Russia was not due to decision on the
part Of the St. Petersburg authorities that
the adjustment of the war with Japan
was not moro Q matter OF money than Of
diplomacy.
Mr.. MuravieH IL diplomatist and
junst. Mr.. WHITE Is primarily fnancier.
In the negotiations Of any great loan by
Russia be would naturally be tho man
selected to act for his Government In deal
ing with tho money lenders. Mr.. Muravieh
had been ofYicially selected and his appoint
ment announced, and the choice Of Mr..
witte In his place has never been salts
iactorily explained. 1t was all the more
mysterious and strange In view OF the fact
that Mr.. White and Mr.. Muravien belong
to opposite factions In Russia.
1t Is a common saying among the Euro
peans hero that most OF the members OF
the Cars peace mission arc Muravieh
mon. while only few are Witte men. This
does not mean that any member OF the mis-
sion Is not In accord with his distinguished
chief. but 1t merely emphasizes the fact
that In Russia Mr.. Witte and Mr. Muravieff
are the leaders OF different political In
fiuences. Mr.. White was opposed to the
policy which produced the present war
with Japan; and be 10 now. a. he recently