The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-12-06

OAN0AAAe~AA - $1,000
value attached by the government Of
the United States to increased and
more important relations between the
countries and the desire Of the United
States to contribute to the larger eco
nomic and commercial Development
due to the new regime in Turkey.
The rapid development now begin |
ming in that ancient empire and the |
marked progress and increased COM |
merciaI Importance of Bulgaria, Rou- |
mania and Servia make 1t particularly |
opportune that the possibilities Of |
American commerce in the near east |
should receive due attention.
Montenegro.
The national skoupchtina having ex-
pressed its will that the principally of
Montenegro be raised to the rank of
kingdom, the Prince Of Montenegro on |
Aug. is last assumed the title Of king |
of Montenegro. It gave me pleasure |
to accord to the new kingdom the rec
ignition Of the United States.
The Far East.
The center of interest in far eastern
affairs during the past year has again
been China.
1t is gratifying to note that the ne
gotiations for a loan to the Chinese
government for the construction of
the trunk railway lines from Hankow
southwark to Canton and westward
through the Yangtse valley, known as
the Hukuang loan, were concluded by
the representatives of the various
financial groups in May last and the
results approved by their respective
governments. The agreement, already
initiated by the Chinese government, is
now awaiting formal ratification. The
basis of the settlement of the terms of
this loan was one of exact equality be-
tween 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 I'M
DERIVING the policy of the United States
in regard to the Hukuang loan-viz,
that of the Decentralization Of the
foreign interest in such of the railways
of China as may be financed by for
| eign cOuntries-was suggested on a
broader scale by the secretary of state
in proposal for internationalizatio
and commercial naturalization of all
the railways of Manchuria. While the
principle which led to the proposal of
this government was generally admit
| ted by the powers to whom it was ad-
dressed, the governments of Russia and
japan apprehended practical difficult
ties in the execution of the larger plan
which prevented their ready adher-
ence. The question of constructing the
Chinchow-Aigun railway by means of
an international loan to China is, how
ever, still the subject of friendly dis
cussion by the interested parties.
The policy of this government in
these 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 China's
welfare and material prosperity with
out prejudice to her legitimate rights
as an independent political 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 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
n been one of the principal obstacles to
commercial intercourse with that peo
pie.
The United States in its treaty OF
1908 with China obtained a pledge
! from the latter to introduce uniform
national coinage, and the following
year, at the request of China, this gov
a eminent sent to Picking a member Of
. the International exchange commission
: 4 to discuss with the Chinese govern
r ment the best methods of introducing
: the reform. In 1908 China sent a com
! missioner to the United States to con
: suit with American f1nanciers as to tn,
/ possibility of securing a large loaI
{ with which to inaugurate the new cur
rency system, but the death of thei
majesties the empress dowager and th'
emperor Of China interrupted the ne
| gotiations, which were not resumed un
til a few months ago, when this gov
eminent was asked to communicate t.
l the bankers concerned the request o
China for a loan of $5O,0OO,OOO for tn
:, purpose under review. A preliminar.
agreement between the American groul
- and China has been made covering tn
y loan.
For the success of this loan and tn
:. contemplated reforms which are of tn
, greatest Importance to the commercia
: interests of the United States and tn
civilized world at large it is realize
= that an expert will be necessary. an
this government has received assul
ances from China that such an advis
err, who shall be an American, will b
engaged.
It is a matter Of interest to Amer
- cans to note the success which is a
&c tending the efforts of China to estai