The enterprise. [volume] (Harlem, Mont.) 1899-1926, 1911-12-14

AM W WHICH emma was ple0geQ 0y
treaties with the United States, Great
Britain. and Japan. Of which men
ZION was made In my last annual mes
sage.
knowing the interest of the United
states in the reform of Chinese cur
iency, the Chinese government, in
the autumn of 1910, sought the assist
ance of the American government to
procure funds with which to accom-.
pl1sh that all-important reform. In
the course of the subsequent negotia.
t'ons there was combined with the
proposed currency loan one for Ger.
TAIN Industrial developments in Man
cnur1a' the two loans aggregating the
sum of $50.000,O00. While this was
originally to be solely an American
ehter prise, the American government,
consistently with its desire to secure
sympathetic and practical co-opera-
ZION OF the great powers toward main
tanning the principle of equality of
opportunity and the administrative in
tegr1ty of China, urged the Chinese
government to admit to participation
III the currency loan the associates
Oh the American group in the HUI
huang loan. While of immense i'm
poftance In itself, the reform con-
templated in making this loan ia but
preliminary to other and more COM
prehensive fiscal reforms which will
W ol lncalculable 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, 1t was understood that a financial
aoVlser was to be employed BY China
III connection with the reform, and in
order that absolute equality in all
respects among the lending nations
nl'ght be scrupulously observed, the
american government proposed the
nomination of neutral adviser. which
was agreed to by China and the other
governments concerned. On septem.
Der 2S' 1911. Doctor Vissering, presi.
aent OF the Dutch Java bank and a
nnancler 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 is
shaken by civil war incidental to it's
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
ana 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
strict Interpretation of it's provisions
have terminated on July II, 1912. 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 new treaty with
the United States simultaneously with
Its negotiations with the other DOW
ers. There were a number of impor-
tant questions involved In the
treaty, including the immigration of
[aborers, revision of the customs tar
lit and the right OF Americans to hold
real estate in Japan. The United
States consented to waive all techni-
callt1es and to enter at once upon ne
sot1ations for new treaty on the I'M
Outstanding that there should be
throughout the life of the
.reaty of the same effective measures
'or the restriction of immigration of
aborers to American territory which
had been In operation with entire sat
sfaction to both governments since
1908. The Japanese government &C.
,epted this basis of negotiation, and
new treaty was quickly concluded.
'esulting in highly satisfactory set.
;lement of the other questions re-
erred to.
A satisfactory adjustment has also
zen 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
he past twelve-month, there has been
It times considerable political unrest.
The Moroccan question, which for
some months was the cause Of great
anxiety, happily appears to have
cached stage at which 1t need no
onger be regarded with concern. The
Ottoman empire was occupied for
period by strife in Albania and is now
It war with Italy In Greece and the
Balkan countries the disquieting DO
entialities of this situation have been
more or less felt Persia has been the
Gene Of long internal struggle.
These conditions have been the cause
# uneasiness in European diplomacy,
tut thus far without direct political
oncern to the United States
In the war which unhappily exists
'etween Italy and Turkey this gov