Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1910-12-06
TAFT'S MESSAGE
To- CONGRESS
CONTINUED from page u

heHeHlel v, EmpeIOT VI Inc Olto-
mans, and the desire of the United
States to contribute to the largec
economic and commercial develop
ment due to the new regime in Tur-
key.
The rapid development now be-
ginning in that ancient empire and
the marked progress and increased
commercial Importance of Bulgaria,
Roumania and Servia make it par
ticularly opportune that the posi-
bilities of American commerce in
the near east should receive due at
tention.
Montenegro
The president expresses pleasure
in having accorded recognition of
the United States to the new king
dom of Montenegro.
The Far East
The center of interest in far east
ern affairs during the past year has
1t is gratifying to note that the
negotiations for a loan to the Chi
nese government for the construc-
tion of the trunk railway lines from
Hankow southwark to Canton and
westward through the Yangtse val
ley, known as the Hukuang loan,
were concluded by the representa-
tives of the various financial groups
in May last and the results APP
proved by their respective govern
ments. The agreement, alrcaGy in
itialed by the Chinese government,
is now awaiting ratification The
basis of the settlement of the terms
of this lean was one of exact e1dal-
ity between America. Great Britain
France and Germany. in respect to
financing the loan and supplying
materials for the proposed railways
and their future branches.
The application of the principle
underlying the policy of the United
States in regard to the Hukuane
loan, viz: That of the information
alization of the foreign interest il
such of the railways of China al
may be financed by foreign coun
tries, was suggested on broade
scale by the secretary of state in
proposal for internationalization AM
commercial naturalization of all tn
railways of Manchuria. While tn
Of this government was general
admitted by the powers to- whom
was addressed, the governments {
Russia and Japan apprehende
practical difficulties in the excel
ton of the larger plan which pre-
vented their ready adherence. Tn
question of constructing the CHR
chow-Aigun railway by means of a
international loan to China, is, how
ever. still the subject of friendl
discussion by the interested parties
The policy of this government
these matters has been directed b
a desire to make use of America
capital in the development of Chm
China's welfare and material pro-
perity without prejudice to he
legitimate rights as an independer
political power
This policy has recently foun
further exemplification in the ASST
lance given by this government
the negotiations between China an
a group of American bankers for
loan of $50,00O,000, to be employe
chiefly in currency reform. T.
confusion which has from anciei
times existed in the monetary usag
of the Chinese has been one of u
principal obstacles to commercial i
tercourse with that people. II
with China obtained a pledge fro
the latter to introduce a unifoT
national coinage, and the followil
year, at the request of China, tn
government sent to Pekin mel
Der of the international exchan
commission, to discuss with the Cl
nese government the best metho
of introducing the reform. Ii "a
China sent a commissioner to t
United States to consult with AM
lean financiers as to the possibili
of securing a large loan with VIII
to inaugurate a new currency S.
TEN, but the death of Their Maj
ties, the Unprecedented and
Emperor of China, interrupted
negotiations, which were not
sumed until few months a;
when this government was asked
communicate to the bankers &C
cerned the request of China for
loan of s5O.0O0.O00 for the purpo