The searchlight., 1911-12-15


treaties with the United States. Great
Britain. and Japan. Of which men
ton was made In my last annual mes
sage. .-z-ss-a --.-.
knowing the interest Of the United
States in the reform Of Chinese cur
rency. the Chinese government in
the autumn ofls10. sought the assist
ance of the American government to
procure funds with which to accom-
plish that allimportant reform. ) In
the course Of the subsequent negutia-
tons there was combined with the
proposed currency loan one for GER
tain Industrial developments In Man.
churia. the two loans aggregating the
sum Of $50. .o00, 900. While this was
originally to be solely an American
enterprise. the American government.
consistently with Its desire to secure
a sympathetic and practical co-opera-
ton Of the greatl powers toward main
tanning the principle Of equality Of
opportunity and the administrative In
tesrity Of China. urged the Chinese
government TO admit to participation
In the currency loan the associates
OF the American group In tho Hu-
kuang loan. While Of immense i'm
portance In itself. the reform con.
templated In making this loan Is but
preliminary to other and more COM
prehensive fiscal reforms which will
be OF incalculable benefit to China and
foreign interests alike, since they will
strengthen the Chinese empire and
promote the rapid development Of in
ternational trade.
When these negotiations were be-
gun. II was understood that a financial
adviser was to be employed by China
In connection with the 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 q neutral adviser, which
was agreed to by China and the other
governments concerned. On Septem.
Der 2s. 1911. Doctor Visserine. presi-
dent Of the Dutch Java bank and
fnancier Of wide experience in the
Orient. was recommended to the Chi
nese government for the post of none
tary adviser.
Especially important at the present.
when the ancient Chinese empire IL
shaken by civil war incidental to its
awakening to the many influences and
activity Of modernization. are the CO.
operative policy Of good understanding
which has been fostered by the inter
national projects referred to above
and the general sympathy OF view
among all the powers interested In the
far east
New japanese Treaty.
The treaty of commerce and naviga-
ton between the United States and
Japan. signed In 1894. would by q
strict Interpretation OF its provisions
have terminated on July II. 1919. Jap
ans general treaties with the other
powers. however. terminated In 1911.
and the japanese government ex-
pressed an earnest desire to conduct
the negotiations for q new treaty with
the United States simultaneously with
its negotiations with the other pow
ers. There were number of impor-
tant questions involved in the
treaty. including the immigration Of
laborers. revision Of the customs tar
iff and the right Of Americans to hold
real estate In Japan. The United
States consented to waive all techni-
calities and to enter at once upon ne
gotiations for new treaty on the un-
derstanding that there should be =
continuance throughout the life OF the
treaty Of the same effective measures
for the restriction OF immigration Of
laborers to American territory which
had been In operation with entire sat.
isfaction to both governments since
1908. The Japanese government ac-
cepted this basis of negotiation. and
. new treaty was quickly concluded.
resulting In highly satisfactory set.
tlement Of the other questions re-
ferred to.
A satisfactory adjustment has also
ben effected Of the question growing
out Of the annexation of Korea By
japan.
Europe and the Near East.
In Europe and the near east. during
the past twelvemonth. 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 q stage at which II need no
longer be regarded with concern. The
Ottoman empire was occupied for q
period by strife in Albania and Is now
at war with Italy. In Greece and the
Balkan countries the disquieting po-
tentialities Of this situation have been
more or less felt. Persia has been the
scene of a long internal struggle.
These conditions have been the cause
of uneasiness in European diplomacy.
but thus far without direct political
concern to the United States.
In the war which unhappily exists
between Italy and Turkey this gov.
ernment has no direct political inter-
est. and I took occasion at the suita-
hp~ 49, A. t,cnA Aeon1~-~sf-- -