The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-12-12
PEARL HARBORI
ANQ SHIP SUBSIDY
CONTINUED from Page One.I

ready adherence. The question -of
constructing the Chinchow-Aigun rail
way by means of an international loan
to China is, however, still the subject
of friendly discussion by the interest
ed parties.
The policy of this government in
those matters has been directed by a
desire to make the use of American
capital in the development of China
an instrument in the promotion of
Chinas welfare and material pros
perity without prejudice to her legi-
innate rights as an Independent poll
tical power.
This policy has recently found fur
Their exemplification in the assistance
given by this government to the nego-
tiations between China and a group
of American bankers for a loan of $780,
100000 to be employed chiefly in cur
rency reform. The confusion which
has from ancient times existed in the
monetary usages of the Chinese has
been one of the principal obstacles to
commercial intercourse with that PEG
pie The United States in it's treaty
of 1903 with China obtained pledge
from the latter to introduce a uniform
national coinage, and the following
year, at the request of China, this
government sent to Picking a member
| IF tho Intarna tionoI Ev6bongo Ho,,,
mission to discuss with the Chinese
government the best methods of intro
ducing the reform. In 1908 China
sent a commissioner to the United
States to consult with American finan-
ciers as to the possibility of securing
large loan with which to inaugurate
the new currency system, but the
death of Their Majesties, the Empress
Dowager and the Emperor of China,
interrupted the negotiations, which
were not resumed until few months
ago, when this government was asked
to communicate to the bankers con.
cerned the request of China for loan
of $50,000,00O for the purpose under
review. A preliminary agreement be.
tween the American group and China
has been made covering the loan.
For the success of this loan and the
contemplated reforms which are OF
the greatest Importance to the com.
mercial interests of the United States
and the civilized world at large, it
is realized that an expert will be ne.
cessary, and this government has re-
ceived assurances from China that
such an adviser, who shall be an Am.
erican, will be engaged .
1t is a matter of interest to Ameri.
cans to note the success which is at
tending the efforts of China to estab-
fish gradually a system of representa-.
tive government The provincial as
semblies were opened in October, 1909,
and in October of the present year a
consultative body, the nucleus of the
future national parliament, held it's
first session at Picking.
The year has further been marked
by two important international agree
ments relating to far eastern affairs.
In the Russo-Japanese agreement re-
lating to Manchuria, signed July 4,
/ 1910, this government was gratified to
note an assurance of continued peace
full conditions in that region and the
reaffirmation of the policies with res
pect to China to which the United
States together with all other inter-
ested powers are alike solemnly com
mitted.
The treaty annexing Korea to the
empire of Japan, promulgated August
29, 1910, marks the final step in a
process of control of the ancient en-
pire by her powerful neighbor that
has been in progress for several years
past. In communicating the fact of
annexation the Japanese government
gave to the government of the United
States assurances of the fun protec-
ton of the rights of American citizens
in Korea under the changed condi-
lions.
Friendly visits of many distinguish
ed persons from the far east have been
made during the year. Chief among
these were Their Imperial Highnesses
Princes Tsai-Tao and Tsai-Hsun of
China; and His Imperial Highness
Prince Tigashi Rushimi, and Prince
Tokugawa, president of the house of
peers Of Japan. The secretary of
war has recently visited Japan and
China in connection with his tour to
the Philippines, and large delega-
uon Ur American business men are at
present travelling in China This
I exchange of friendly visits has had
the happy effect of even further
strengthening our friendly interna-
tional relations