Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-10-05
EDITOR

now that Russia and Japan demanded exorbt-
ant privileges in Mongolia and Manchuria in
return for their financial help, and the powers
as whole declined to recognize the Chinese re-
public until the government would submit TO
the terms Of the loan.
kwangtung province has firmly declined to
enter into any such arrangement, believing that
as a province 1t can borrow wheresoever it sees
tiations with America The Chinese in the
south believe that Uncle Sam will not demand
political and Industrial privileges such as Rus
STA and Japan have demanded, ,and already there
is feeling growing up that all of China should
turn to Uncle Sam for advice and assistance.
Chinese throughout the south are opposed to
the regulations for the supervision of expend
lures of the advances made by the bankers to
China According to the regulations, the min
istry of finance will organize an auditing de-
apartment. There will be one auditor employed
partment will be separate from the ministry of
finance. Chinese in the south declare this first
provision would give the foreign auditor equal
power with the Chinese According to the esti,
mated income and expenditures for 1912, issued
by the minister of finance, China will have an
income of 297,OOO,OOO taels and an expenditure
of 576,OO0,0OO taels giving deficit of 279,OOO,-
900 taels This shows that China will have TO
borrow several hundred millions for ordinary
expenses alone. .....
1t also is provided that all orders on the
banks for funds from the advances placed at the
governments disposal must he signed by the au.
ditors. From the reading of this the Chinese be-
lieye that the auditors have the right to refuse
to sign any order they do not approve. 1t will
then be the auditors and not the national council
and the president who have the final right over
an appropriation. Not one auditor, but the two
auditors must sign an order, and the final au,
thority will be in the hands of the representa-
tive of the bankers, as the Chinese auditor is
supposed-to look after the interests of the Chi.
nese government more or less. If this is not an
attempt of the foreign governments to regulate
the affairs of China to their own interests
through the supervision of its finances, the Chi
nese would like to know what it is
The ministry of finance engages to furnish
the bankers from time to time, for their approx
AL, specific statements of the objects for which
funds obtained from the advances will be ex,
pended. The statements must first have the ap
prevail of the national council and must be pub
lished in the Official Gazette. The ministry of
finance also will furnish the auditors with de-
tailed paysheets and statements to support the
governments acquisitions for funds. The audi
tors will examine these and if satisfied that all
is in good order, will sign the acquisitions.
To make China ever dependent on foreign
loans, necessary to purchase only from coun.
tries interested in the loan, unable to make war
on the powers represented in the syndicate now
composed of six nations by adding Russia and
Japan to the United States, Germany, England
and France, are all what the Chinese in general
suspect the foreign governments would attempt
Now that the Floral Parade plans are under
way, let's hear from the public as to the hour for
the parade itself Last year, after the hour was