The Cairo bulletin., 1910-12-07
MANY RECOMMENDATIONS PRO-
GREsslvE ALONG coNSER-
VATiVE LINES.
FAVORs SHIP SUBSIDY
Would Try Parcels rost on Rural
Routes---Wants Currency Legis-
lstcn--WcuId Lease Coal
Gas and Oil Lands.

OF President Taft was read to col
gross today. 1t was Unexpectedly
long, bnt male a good impression by
its conservatiyely progressive cha
actef. following are the important
portions of the message:
The Far East.
The center elf interest in far east
ern affairs during the paE ysSr has
again been China.
1t is gratifying to note that the me-
gotiations fo4 a loan to the Chinese
government for the construction OF
tie trunk railway lines from Hankow
southwafl to Canton and westward
through the Yangtse Valley, known as
the Hukuang loan, We're concluded by
the representatives Of the various
financial groups in May last and the
results approved by their respective
governments. The agreement, al
ready initiated by the Chinese gov
etnment. Is now awaiting formal rati
iication. Tie ble's of the set eDeai
Of the terms of this Joan was one ol
exact equality between America
Great Britain, France and Germany
in respeco to financing the loan and
supplying materials for the proposed
railways and their future branches.
b The application OF the principle un
derlying the policy of the Unl,ed
States in regard to the Hukuang loan
viz, that Of the internationa zltio1
of the foreign interest in such q 1 e
railways OF China as may he E'1an aet
by foreign countries has suggested on
a broader scale by the sec etary o
state in d proposal for interhaQoEafi
zation and commercial neutTa ikatoi
of all the railways cf Man4iuia
While the prFncip'a which led to the
proposal OF this government was gen
orally adn tied by the powers to
whom i; was addressed, the govern
ments of Russia and Jafal appre
henled practical difficulties, in the
execution~of tie larger plan which
preyentefAheir ready adherence. Tho
question OF constructing tie Chin
chcw-Aigun railway by reans Of an
international loan to China is, how
ever, still the srbjeci e. friendly dis
cussion by the interested parties.
The policy of tlis government in
these matters mas Tern Alrsetel ty q
desire to make the use of American
capital In the development of China
an instrument IN tire promotion 0
Chinas welfare aui material prosper
ity without prejudice 10 her leglli
mate rights as an Independent polit!
cal power.
This policy has re emily found fur
tner eXemplifieation In the assistance
given by the government to the nego
tians between ChinN. and a group o.
American bankers for loan OF So,
100000 to be employed chiefly In cul
rency reform The confusion whicl
mas froniancient tines existed in tht
monetary usaees Of the Chinese ha!
been one Of r ncipal a 4 acles t
commercial intercourse with that rec
pie The United Statts ia rs treaty
of 1903 with China obtained a pledg<
from the latter TO Introduce uni
form national coinage, a1d the fol
loving year, at tie request Of China
this government sent to Peking ;
member Ct the International Ex
change Commission, to discuss witt
the Chinese government the best me
thods OF introducing the reform. i
1908 China sent a commissioner t
the United States to consrlt witt
American fipanciers as 10 the posi-
bility OF securing large loan will
which to inaugurate the row crr er
cy system, but the death OF their ma
Jesties, the empress Lewager ana tH'
emperor Of CAina Interrupted tn
negotiations. which were not n
sumed until few months ago, whe
this government was asked to com
mnnicate to tho bankers concernel
the request Of China for a loan b
$50,000,0O0 for tie purI ose ur Ter r.
view. A preliminary agreement b.
tween the American group and Chin
mas been made covering tie oal.
For the success of this loan an
the contemplated reforms which ar
of the greatest Importance to TIL
commercial interests cf the Unite
States and the civilized world a
large, It is realized that an exnef
will be necessary, and tlis govern
ment has received assurances fror
Cnina that such an aaRise~, WHO sha
be an American, will be engaged
II is matter of interest to Amer
cans to note the success which is a
tending the efforts of China to. e.
establish gradually system Of rel
resentative government. The provil
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