The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1909-07-29
ASSURES OPEN
DOOR IN CHINA
United States To Participate in
Railroad Loan.
SECRETARY KNoxs FIRM STAND.
What II Means To This Country To
Participate In The Big Loan-A
Decided Advance In The Policy
Instituted by The Late Secretary
OF State Hay-Opens The Market
For American Manufacturers And
Secures A Prestige.

Washington. ID. c. Especially -
American participation in the loan
of $27,500, 900, about to be negotiat-
ed by the Chinese government on
the Hankow SEE Chuen Railroad and
other enterprises will be arranged to
the entire satisfaction of this gov
ernment, thus assuring the main
tenance of the open door" in China.
| Assurances to this effect came to
the State Department from Peking
and gave great satisfaction to the
oihcials who have been patiently
| watching developments both in the
flnancial centers of Europe and at
Peklng, and who have Deen insisting
TO the Chinese government that the
| United States was fully entitled to
share with foreign bankers in the
allotment of the loan, American
bankers are expected to be given a
quarter part of the loan.
To Secretary Knox, to whose firm
stand in the matter success Is large
ly due, the news was particularly
agreeable. The issue has been re-
garded as an important question with
the American government on account
of the principles involved. 1t means
much to the United States that
American bankers should be allowed
to participate in this loan as a prin-
cipal, and not in a subordinate ca
pacity as would have been the case
had the United States consented to
take a portion of the loan from one
of the Europeans financial groups
American Minister Conger was given
the promise in 1904 that American
and English money should be pre-
| ferred in any future loans made by
China to foreign countries on the
Hankow Railroad.
1t has been in conformity with
/ this promise that the United States
has been so insistent in its demands
that she be allowed to come in with
the European financiers as an origi-
nal party to the loan. The question
has been pending now for more than
a month and Secretary Knox has
stood firm for equal recognition.
Pressure has been brought to bear
on China to withstand our demands,
on the ground that to yield to the
United States would be to open the
| door to other claimants for partici-
, patton in the loan, and she was
urged to give the privilege exclusive
ly to the French, German and Eng
lish bankers, in accordance with the
agreement made in Peking on June
last.
Undoubtedly this pressure will be
continued. but it is believed that
China will stand by her present de-
clared purpose.
More or less American material
undoubtedly will be used in the con-
struction of the railroad, and in all
probability the building of a por-
tion of it will be under the super
vision of American engineers. Origi-
nal American participation opens the
market for American manufacturers,
and the United States secures a po-
litical prestige which is paramount.
A satisfactory adjustment of the
! loan means the application of the
open door, to China in its fullest
aspect-a decided advance in the
policy inaugurated by the late Secre-
tary of State Hay, and vigorously
pushed by former Secretary Root and
by Secretary Knox.