New-York tribune., 1910-12-07

still the subject of friendly discussion by
the interested parties
American Capital in China.
The policy of this government in these
matters has been directed by desire TO
make the use of American capital in the
development of China instrument in the
promotion of China's welfare and material
prosperity without prejudice to her legiti-
mate rights as an independent political
power.
This policy has recently found further
exempliffcs ton in the assistance given by
this government TO the negotiations be-
tween China and group of American
bankers for a loan of s50,000000 to be
employed chiefly in currency reform. The
confusion which has from ancient times
existed in the monetary usages of the Chi
rese has been one OF the principal obstacles
70 commercial intercourse with that people.
The United States IN its treaty of 1903
with China obtained pledge from the lat
ter to introduce a uniform national coinage,
and the following year, at the request of
China, this government sent to Peking a
member of The International Exchange
Commission. to discuss with the Chinese
government the best methods of introducing
missioner to the United States to consult
with American financiers aS TO the pOssi-
bility of securing a large loan with which
to inaugurate the new currency system. but
the death of their maiesties the Empress
Dowager and the Emperor of China inter-
r1Ipted the negotiations which We're not re-
suned until a few months ago, when this
government was asked to communicate to
+1,a cd Ha of
for a loan of s5O,O0000O for the purpose
under review. A preliminary agreement
between the American group and China has
been made covering the loan
For the success of this loan and the con-
templated reforms, which are of the great
est 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 re-
ceived assurances from China that such an
adviser. who shall be an American, will be
engaged
1t is a matter of interest to Americans to
note the success which is attending the
efforts of China to establish gradually a
system of representative government The
provincial assemblies were opened in Oc-
tober, 1903. and in October Of the present
year a consultative body. the nucleus Of
the future national parliament, held its first
session at Peking.
Russia, Japan and Corea.
The year has further been marked by two
important International agreements relating
to Far Eastern affairs. In the Russo-Jap-
anese agreement relating to Manchuria,
signed July 4, 1910, this government was
gratifed to note an assurance of continued
peaceful conditions in that region and the
reaffiruation Of the policies with respect to
China to which the United States, together
with all other interested powers, are alike
soIemnly committed.
The treaty annexing Corea 10 the Empire
Of Japan, promulgated August %, 1870
marks the final step in a process of control
of the ancient empire by her powerful
neighbor that has been in progress for sew
eraI years past In communicating the fact
of annexation the japanese government
gave to the government of the United
States assurances of the full protection of
the rights of American citizens in Corea
under the changed conditions.
Friendly visits of many distinguished
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 I'M
perial highness Prince Higashi Fushimi 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 a large delegation of American busi-
ness men are at present travelling IN China.
This exchange of friendly visits has had
IF f1Irt Il
ening our friendly international relations.