New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-01
CHINA TRYING TO RAISE
A BIC INTERNAL LOAN
Remains Firm in Decision to AC-
oept No Foreign Supervision
Entire Country Aroused,
REPUBLICS LIFE AT STAKE
Generalissimo at Marking Likens
Acceptance of Supervision to
Drinking Poison to
Quench Thirst.
Isy Gable to The Ir,bun, J


Quench Thirst.
{ BY Gable to The Tribune.
Pekirg, June 3o-The financial situa-
ton, involving as it does the whole
question of the success or failure Of the
new form of government, has reached
another important stage and another
crisis. The entire country is rapidly be-
ing aroused 10 what may become violent
opposition TO any foreign loan whatso-
ever. 1t is a situation fun of possibili-
ties, as all situations here are. one of
which, IL is no exaggeration to state, is
anti-foreignism of serious sort.
From all over the country come re
ports Of indignant opposition TO the Plan
for the supervision by foreigners of the
money 10 be advanced by the interna
tlonal syndicate of bankers. This en-
harnesses the government 10 a degree,
for It is impossible quickly tC raise
money internally, and the only way If
getting the funds urgently needed for
the payment Of troops and other admin
tstrative measures is to borrow II from
the foreign bankers And the bankers
are firm in their stand not TO lend with
out certain extent of supervision.
Situation Is Dangerous.
That the situation is dangerous. both
20 tho government, which will fall soon
II money IS not obtained and the troops
paid, and TO the foreigners, is evidenced
by dispatch which has been received
by the government from Huang Hsng,
generalissimo at Marking, a man who
controls tens of thousands of troops and
one who was largely instrumental in the
success Of the recent revolution. He is
a powerful man and his virulent opposi-
ton to any foreign supervision means
something. Huang Hsing declares thar
the republic, for which brave men
fought and died for two decades, is being
sold to the foreigner. He swears that
n the foreigners are allowed to interfere
with the military Of the natlon--whlch
she foreigners would he doing 70 d small
extent under any kind Of supervision
plan-it would leave China with her
hands tied, waiting for death.
The people of the South he says are
ready to die for the nation, and he gives
Voice 70 threats as TO the attitude Of
himself and his soldiers. Nothing could
be moro earnest than his opposition,
hut why he opposes, whether il is from
patriotic or from selfish motives IS an
ether matter. This he declares,
speaking Of the supervision, would he
drinking poison to quench thirst"
Foreign Aggression Feared,
The existence of sentiment Of this sort,
which reports show is pretty general, is
dangerous China, as has been pointed
cut in previous dispatches 10 The Trib-
une has little for which to thank the
foreigners, and the whole nation fears
foreign aggression. But unfortunately,
things have come 10 such pass that It
seems wholly impossible for the govern
nleat 10 avoid making o foreign lean
And as the bankers stipulate that there
must be, for their own protection as Well
ss that of their clients, and also fer the
good Of China. A certain supervision Of
expenditures so 80 10 insure honest dis
tribution Of funds. the government is
face 70 face with dangerous difficult
crisis
4 great campaign has been started for
the raising Of a huge internal loan. Ar
peals are being made everywhere, and it
IS very much TO be feared that govern
ment people are utilizing the bugaboo Of
foreign supervision in order 10 induce
the people 10 give ur money to the cen
trail government.
All now depends on whether this pro
POSED issue Of internal bonds and what
they call 'irrsdeemabls notes" is sue
cessfuL but there are grave fears that
the scheme will never be success. Tbs
rich people OF the country. from whom
the money must come, know their coun-
trynen TOO well and they are fully aware
that the chances are that their money
will be squandered and Squeezed 4"
That is what would have happened un-
der the old regime and the new powers
that-be have shown nothing to indicate
that they have already brought about a
moral regeneration Of the nation. Incl
dentally, China's last successful internal
loan was in A D. $50.
Government Almost Helpless.
Let us see then, where this situation
leads Ne. Supposing, as will probably
he the case, the government is unable
TO procure the requisite funds internally
Even If the money is obtained II will be
at such a far distant date on account
of the slowness OF communication and
the length OF time it will take TO argue
the gentry into liberal response TO the
appeal for cash, that great trouble would
probably come IN the mean time The
government, having refused 10 grant the
measure Of supervision which the for
eign bankers require before advancing
money, is unable 20 carry on its affairs
and thus everything is Oh the verge Of
A. smash some one must be respop-
sible. and Of course, il is the foreigner
who is being blamed for the whole
thing. This brings us face 10 face with
nasty situation, az the least manifesto
ton OF violent anti-foreignism will be
used az a preteXt Tor foreign interven-
ton