The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1911-12-07
The Chinese Loans.

ClusiOn of two important international
loans, one for the construction of the
Hukuang railways, the other for the
carrying out of the currency reform
to which China was pledged by treat
les with the United States, Great
Britain and Japan, of which mention
vas made in my last annual mes
sage.
1T will be remembered that early
in 1909 an agreement was consum-
mated among British, French and
German financial groups whereby they
proposed to lend the Chinese govern.
ment funds for the construction of
railways in the Provinces of Human
and Hupeh, reseryng for their nat
ionals the privilege of engineering the
construction of the lines and of fur.
nishitg the materials required for the
work. After negotiations with the
Governments and groups concerned ali
agreement was reached whereby
American, British, French and German
nationals should participate upon
equal terms in this important and use
ful undertaking. ThereupOn the finan
cial groups, supported by their respec-
tive governments, began negotiations
with the Chinese government which
terminated in a lean to China of $780,
100000 with the privilege of increas-
ing the amount to s50000,000 The CO.
operative construction of these trunk
lines should be of immense advantage,
materially and otherwise, to China
and should greatly facilitate the de
velopment of the bountiful resources
of the Empire. On the other hand,
large portion of these funds is to
be expended for materials, American
products having equal preference with
those of the other three lending na-
tions, and as the contract provides for
branches and extensions subsequently
TO be built on the same terms the Op-
portunities for American materials will
reach considerable proportions.
Foreign Trade Relations Of the
United States.
In my last annual message | re-
ferred TO the tariff negotiations OF
the Department of State with foreign
q, mi. IN, al :
plicatiOn by a series of proclamations
of the minimum tariff of the United
States to importations from the sev.
eral countries, and | stated that, in
its general operation, section > of the
new tariff law had proved a guaranty
of continued commercial peace, al
though there were, unfortunately, in
stances where foreign governments
dealt arbitrarily with American inter
ests within their jurisdiction in
manner injurious and inequitable.
During the past year some instances
of discriminatory treatment have been
removed, but regret to say that there
remain a few cases of differential
treatment adverse to the commerce
OF the United States. While none of
these instances now appears 10
amount to undue discrimination in the
sense OF section of the tariff law
OF August ., 1903, they are all eXcep-
tions to that complete degree OF equal.
ity OF tariff treatment that the Depart
mnt of State has consis, emily sought
to obtain tor American commerce
abroad"
Crying Need for American Merchant
Marine.
Il need hardly reiterate the conylc-
ton that there should speedily be
bull, up an American merchant ma
rine. This is necessary to assure fay-
orable transportation facilities to our
great ocean-b -borna commerce as well
as to supplement the Navy with an
adequate reserve of ships and men.
1t would have the economic advan-
tage of keeping at home part of the
vast sums now paid forign shipping
for carrying American goods. All the
great commercial nations pay heavy
subsidies TO their merchant marine, so
that it is obvious that without some
wise aid from the congress the Unit
ed States must lag behind in the
matter of merchant marine in its
prestn anmoalous position"
Extension Of American Banking to
Foreign Countries.
Legislation to facilitate the eXten-
sion of American banks to foreign
countries is another matter in which
our foreign trade needs assistance"
Improvement Of the Foreign Service
The entire foreign-seryice organiZa-