The Birmingham age-herald., 1911-12-08


 l treaties with the United States. Great
 Britain, and Japan, of which mention was made in my last annual message.
 It will be remembered that early in 1909 ! an agreement was consummated among l British, French and German financial
 groups whereby they proposed to lend the 1 Chinese government funds for the con-
 struction of railways in the provinces of
 Human and Hupeh, reserving for their nationals the privilege of engineering the fconstruction of the lines and of furnish
 ing the materials required for the work.
 After negotiations with the governments
 and groups concerned an agreement was
 reached whereby American. British,
 French and German nationals should par ticipate sf<n equal terms in this im-
 portant and useful undertaking. Thereup-
 on the financial groups, supported by their respective governments, began negotia- | tions with the Chinese government which | terminated in loan to China of $30,OO0-
 900, with the privilage of increasing the
 amount to S50,000OO0. The cooperative
 construction of these trunk lines should
 be of immense advantage, materially and otherwise, to China and should greatly | facilitate the development of the bounti-
 full resources of the empire. On the other
 hand, a large portion of these funds is 1 to be expended for materials, American products having equal preference With those of the other three lending nations,
 and as the contract provides for branches and extensions subsequently, to be built on
 the same terms the opportunities for American materials will reach consider
 able proportions. | Knowing the interest of the United States in the reform of Chinese currency,
 the Chinese government, in the autumn Of | 1910, sought the assistance of the Ameri- can government to procure funds with
 which to accomplish that all-important | reform. In the cose of the subsequent
 negotiations there was combined with the proposed currency loan one for certain l industrial development in Manchuria, the ! two loans aggregating the sum Of $5o- 1 000o 600. While this was originally to be
 solely an American enterprise, the Ameri- can government, consistently with it's de- | sire to secure a sympathetic and prac- 1 tical cooperation of the great powers | toward maintaining the principle of equal
 ity of opportunity and the administrative
 integrity of China, urged the Chinese
 government to admit to participation in | the currency loan the associates or the | American group in the Hukuang loan While of immense importance in itself,
 the reform contemplated in making thls | loan is but preliminary to other and more | comprehensive fiscal reforms which Will
 he of inealculable benefit to China and
 foreign interests alike, since they will strengthen the Chinese empire and pro- mote the rapid development of interna-
 tional trade.
 Neutral Financial Adviser | When these negotiations were begun 1 it was understood that a financial ad- | wiser was to be employed by China Tn connection with ths reform, and in order that absolute equality in all
 respects among the lending nations
 might be scrupulously observed, the
 American government proposed the nomination of neutral adviser, which was agreed to by China and the other governments concerned. On September | | 2S. 1911. pr. Vissering, president of i the Dutch Java bank and f1nanc'er l of wide experience in the Orient, was | recommended to the Chinese goVern- | ment for the post of monetary adVlser Especially important at the present | when the ancient Chinese empire isl shaken by civil war incidental to it's | awakening to the many influences and | activities of moderniZation, are the CO., operative policy of good understanding which has been fostered by the inter- national projects referred to above and l the general sympathy of view among all the powers interested in the far east While safeguarding the interests II of our nationals this government IS using it's best efforts in continuance of it's traditional policy of sympathy and friendship toward the Chinese empire and its people, with the confident hope | development, and with the constant dis
 position to contribute to their welfare In all proper ways consistent with an attitude of strict impartiality as be- tween contending factions. |
 For the first time in the history of the two countries, a Chinese cruiser, the Haich under the command of Ad
 miral Ching, recently visited New York, where the officers and men were given 9 cordial welcome.
 New Japanese Treaty
 The treaty of commerce and naviga- tion between the United States and Ja- pan, signed in 1894, would be a strict terminated on July r. 1912 Japan's general treaties with the other pow CTS, however, terminated in 1911, aud the Japanese government expressed an earnest desire to conduct the negotia- | Cons for new treaty with the UnitedI states simultaneously with it's negotia-1 tions with the other powers. There were a number of important questions involved in the treaty, including the immigration of 1aborers, revision of the customs tariff, and the right of Amer jeans to hold real estate in Japan. The United States consented to waive all | technicalities and to enter at once upon negotiations for a new treaty on the l understanding that there should be a 1 continuance throughout the life of the | treaty of the same effective measures | for the restriction of immigration Of l laborers to American territory which | had been in operation with entire sat | isfaction to both governments since | 1908. The Japanese government ac- l cepted this basis of negotiation and a l new treaty was quickly concluded, re- sulting in highly satisfactory settle | ment of the other quesaons referred to. |
 A satisfactory adjustment has also | been effected of the questions grow | ing out of the annexation of Corea by Japan. A recent visit of Admiral Count Togo to the United States as the nations to demonstrate the friendly feeling so happily existing between the two coun- tries. There has been a change of sovereigns in Siam and the American minister at Bangkok was accredited in special ca- pacity to represent the United States at the coronation ceremony of the new King.
 Europe and the Near East
 In Europe and the near east, during
 the past 12 month, there has been at times considerable political unrest. The Moroccan question, which for some months was the cause of great anxiety | happily appears to have reached stage
 at which it need no longer be regarded | with concern. The Ottoman empire was | occupied for period by strife in AL 1 bania and is now at war with Italy. In | Greece and the Balkan countries the
 disquietinE potentialties of this situation | have been more or less felt. Persia has | been the scene of a long internal strug-