The Bridgeport evening farmer., 1910-12-06
I affairs during the past year has again

gotta tiOnS for loan to the Chinese govtrnment for the construction of the trunk railway lines from Hankow southward to Canton and westward through the Yangtse valley. known as the Hukuana 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 initialed 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 un- deriving the policy of the United States in regard to the Hukuang loan-viz. that of the internatiOnaiiZation 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 ton and commercial neutraliZa ton 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 exerution 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 end material prosperity with out prejudice 10 her legitimate rights as an independent political power
 This policy has recently found fur ther exemplification in the assistance given by this government to the nego- tiations between China and a group of American bankers for a loan of $5O.- OUO.O00 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 peo. pie.
 The United States in it's treaty of 1903 with China obtained a pledge from the latter to introduce a uniform national coinage. and the following year. at the request of China. this gov ernmpnt sent to Picking a member of the international exchange commission to discuss with the Chinese govern ment the best methods of introducing the reform. In 1908 China sent com missioner to the United States to con- suit with American inanciers as to the possibility of securing large loan with which to inaugurate the new cur rency system. but the death of their majeSties the empress dowager and the emperor of China interrupted the ne gotiations. which were not resumed un- til few months ago. when this gov ernment was asked to communicate to the bankers concerned the request of China for a loan of $50.OOO.OOO for the purpose under review A preliminary agreement bet ween the American group and China has been made covering the loan,
 For the success of this loan and the greatest importance to the commercial interests of the United States and the civilized world at large 1t is realized that an expert will be necessary. and this government tas received assur- ances from China that such an advis- CT. who shall be an American, will be engaged.
 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 consultative body. the nucleus of the future national parliament. held its first session at Peking.
 The year has further been marked by two important international agree ments aplating 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 peaceful conditions in that region and the reafflrmation of the policies with respect 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 Aug, %. 1910. mai ks the final step in a process of control of the ancient em- pire by her powerful neighbOr that has been in progress for several years past. In communicating the fact of annexa tiOn the Japanese government gave to the government of the United States assurances of the full protection of the rights of American citizens in Ko req under the changed conditions.
 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 Higashi FuShimi and Prince Tokugawa. president of the house of