Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-12-07

The FAR EAST.
The chirese L.oana.

fbtiAiAai ldiNlth4
The FAR EAST.
The Chinese Loans.
The past year has been marked In
our relations with CHINA By the con-
clusion Of two important International
loans. one Tor the construction OF the
tiuhuang railways, the other Tor the
carrying ont OF tine currency reform
10 which China was pledged by treat.
les with the United states. Great 8rit-
ain. and Japan. OF which mention was
made In my last annual message.
II viii be remembered that early
In 1903 an agreement was consum-
mated among British. French and Ger.
man financial groups whereby they
proposed TO lend Tue Chinese govern
intnt funds Tor The construction OF
railways IA the provinces of Human
ana hnpch, rcser,i ing for their nation.
ais the privilege 81 engineering the
construction o. the lines and OF FUR
nishing the materials required for the
work After negotiations with the GOV.
ernments and groups concerned an
agreement was reached whereby Am
eriean, British. French and German
nationals should participate upon
equal terms ia this important and
useful undertaking. Thereupon the
fhhncial groups, supported By their
respective governments. began nego.
tiaiions with the Chinese government
which terminated IN loan 10 China
Of 100000, 900, with the privilege OF
Increasing the amount 10 $50. 900 GOO.
The cooperative construction OF these
TRUNK lines should he OF immense ad.
vantage. maternity ana otherwise. TO
China and should greatly facilitate
he development, of the bountltul re-
sources OF the empire. On the other
hand. large portion OF these funds
Is To he expended ior materials. Amer.
lean products having equal prefer
ence with those of the other three
lending nations aud ns the contract
provides for branches and extensions
subsequently 10 be built on the same
terms the opportunities for American
materials will reach considerable pro.
portions
bhpWiug tho .ni rcsl 81 The Cnlted
States In the reform OF Chinese cur.
fency, the Chinese government. In the
autumn OF 1910, sought the assistance
OF the American government TO pro.
cure fund.- with which to accomplish
that ail-important reform. In the
course OF the subsequent negotiations
there was combined with the proposed
currency loan one for certain indus
trial Developments Ia Manchuria. the
Two loans aggregaling the sum OF
saO.O00,e0o While This was originally
Va be solely an american enterprise
the American government, consistent.
~ With lis desire 10 secure a symna.
'hetic and practical Cooperation OF Inc
great powers toward maintaining the
principle OF equality OF Opportunity
and the administrative Integrity of
China, urged the Chinese government
10 admit 10 participation IN the cur
tency loan the associates OF the Am.
st,can group In the Hukuang loan.
while OF Immense Importance IN It,
sen, the reform contemplated IN max.
Jug this loan is but preliminary 10
other ana more Comprehensive 6scal
reforms which will be OF incalculabla
benefit 10 China and ioFefgn intereete
alike. since they viii strengthen the
chinese empire and promote the ranid
development Of International trade.
Neutral Financial adviser.
Wheh these negotiAtions were be.
ava. II Was UNDERSTOOD that a financial
adviser WAS To be employed hy China
IN connection with The reform, ana I'M
order that absolute equality IN all re.
"peegs among the lending nations
might BE scrupulously observed, the
american goyernment proposed the
nomination OF neutral adviser.
which was agreed 10 BY China and
me other gOvernmentB concerned, on
september 2S, 1911, Dr.. visaerinR.
president OF the Dutch Java Hank ana
= nnancler Of wide experience IN The
orient was recommended to the chi.
nese government for the posi- Of non.
IVlafy adviser
ESPECIALLY important a. the present.
when the ancient Chinese empire A