Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1910-12-06

uople 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 10 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
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 viii that the principality of
Montenegro be raised TO the rank OF
kingdom. the Prince of Montenegro on
Aug. Is last assumed the title of king
of Montenegro. 1t 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.
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 10 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 HuEuang lOan-viZ.
that of the internatioEaIizatio ton of the
foreign interest in such of the railways
of China as may be financed by for
eign COuntrieS-waS suggested on q
broader scale by the secretary of state
in n proposal for intCrnatiOnali2at ton
and commercial naturalization of all
the railways of Mancburia. While the
principle which led TO the proposal Of
this government was generally admit
ted by the powers to whom it was adj
dressed. the governments Of Russia and
Japan appTehended 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 exemplifcatiOn in the assistance
given by this government to the nego-
tiations between China and group %
American bankers for a 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
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
eminent 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 1905 China sent COM
missioner to the United States to con-
suit with American financiers as to the
possibility of securing a 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 IN
til a few months ago. when this gov
eminent was asked to communicate to
the bankers concerned the request of
China for a loan of $JO,OO0.OOO 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
contemplated reforms which are Of the
crreateSt inheritance 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 a matter of interest to Ameri-
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