Norwich bulletin., 1910-12-07

The Near East-Turkey.
 To return the visit of the special en- bassy sent to announce the accession of his majesty Mehemet V., emperor or the Ottomans, I sent to Constanti- nople a special ambassador, who, in addition to this mission of ceremony, was charged with the duty of express ing to the Ottoman government the 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 homie and commercial development due to the new regime in Turkey.
 The rapid development now begin hing in that ancient empire and the marked progress and increased com mercial importance of Bulgaria, Rou- mania and Servia make it 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 principality of Montenegro be raised to the rank of kingdom, the Prince of Montenegro on Aug. 15 last assumed the title of king of Montenegro. It gave me pleasure to accord to the new kingdom the rec ognition of the United States.
 The Far East.
 The center of interest in far eastern affairs during the past year has again been China.
 It 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 southward to Canton and westward through the Yangtse valley, known as the Hukuang loan, were concluded by the representa- tiFes 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 r 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 1oan-viz. that of the internationalization 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 internationalizat ton 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 ther exemplifcation in the assistance given by this government to the nego- tiattOns between China and a group of American bankers for a loan of S5O.- 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 peo- pie.
 The United States in it's treaty of 1903 with China obtained a pledge from the latter to introduce a uniform coinage, and the following year, at the request of China. this gov ernment 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 fnanciers as to the possibility of securing a large loan with which to inaugurate tine new cur rency system, but the death of their msjesties the empress dowager and the emperor of China interrupted the ne gotiations, which were not resumed un- til few months ago. when this gov was asked to communicate to the bankers concerned the request of China for R loan of s5O,0OO,O00 for the purpose under review. 4 preliminary agreement between the American group and China has been made covering the loan.
 For the success of this loan and the reforms which are of the greatest importance to the commercial interests of the United States and the civilized world at large it is realized that an expert will be necessary, and this government has received assur- ances from China that such an advis- er, who shall be an American, will be engaged.
 It is matter of interest to eAmerf- cans to note the success which is at tending the efforts of China to estab-