The Birmingham age-herald., 1909-06-29

From the Boston Globe.
 TT HAS been prophesied for many
 years that there would be an awak- X ening of China, that is, that she would discard most of her Oriental ideas ana adopt the customs of western ciVilza- fion. She has made a little progress m this direction, but now she Is building extensive railways she may be reaiiy said to be awake. There Is not any thing else which will develop country 30 much as railways. ' Where railways abound there is increase of population. wealth, manufacturing and trade gener- ally.
 China is now expressing much atten- tion in the financial world because of her keen interest in railways. Information by late cables is to the effect that China has effected an agreement with German, British and French banks for the loan of $27, 600 for the construction Of the Hankow- Canton Chengtu or Yueh-Han railroad. It is said the American charge d affaires has lodged protest at Pekn with the object of reminding that gov ernment of American rights, which may be accorded. It appears that an Ameri- can company had some rights to the concession for this road. This American company may have been bought off by the Chinese At any rate. the fact that the railway is to be built Is the main thing.
 There are other interesting happen ings in China. The United States con cluded a treaty of arbitration with China in accordance with the provisions or article 19 of the convention for the pacihc settlement of international disputes con cluded at The Hague by which the sigma tory powers reserved the right of conclud- inp agreements with view to referring to arbitration all questions they should consider possible to submit to aroitra- lion. The United States thus recognizes the equality of China.
 MT. Scudder of the Intrnationa Bank ing association in an address to the con yention of National Association of Manu- lecturers, alluding to the "open door op- poptunity," said:
 '~rhe time has arrived for you Amer ican manufacturers to cast your eyes be- yond the horizon of your native land You have passed that first stage which all new efforts must experience. Hence forth your serious attention must be fixed on the world as your field of distribution. You gentlemen will need to become Tor ! eign merchants and not to be local man. ,lfacturers only. You will have to make up your minds to become sellers of goods abroad as well as to be makers at home 1T have thought 1t strange that while every leading nation of the world has branch banks or banking in China not one | of our financial institutions was repre- scented abroad. The International Bank | ing corporation, which I have the honor to represent here, is today the only or ganzied home effort looking to the up- building of American trade and acting as A direct aid to American commerce abroad"
 In the annual report of the British as- sociation for 1908 1t is said that "Chlna has finances, but no finance In illus tration is set up that Chinas foreign debt contracted almost entirely within the last IS years now amounts to e125.0oo0O0, for the services of which an annual sum of between 1000, 900 and S,000000 sterling is re- ouired. Government Is reduced to expedi- ents to meet these burdens by resort to lotteries, sales of offices issues of de- based coinage and unsecured paper l money. Such expedients can end only in i disaster, and the report expresses the hope that China will take in hand the reform of her financial chaos.
 The Washington Star calls attention to the fact that in June, 1908. Sir Wal- ter I1ilier was appointed foreign adviser ] to the Chiense government. This ap- pointment, 1t says, was doubtless excel lent and made after due consideration and perhaps at the suggestion of the British | government. Such matters of apparently small importance are liable at any mo- ment to become of vital significance. The eovarnnaAnt at WaAhip ston has never maid