New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-23
POWERS FORCE RUSSIA
TO COMPLETE BACKDOWN
Chinese Loan Agreement Signed
and No Special Privi-
IegeS Accorded.
TRIUMPH DUE TO AMERICAN
Henry P. Dawson Secures Major
ity Control in Place of Right
of Veto of One of the
Signatories.
rBy Transatlantic wireless to The Tribune,l

rBy Transatlantic wireless to The Tribune.l
London, June 22.-The agreement for
the $500, 5000 loan to China which was
signed Yesterday by Great Britain
France, Germany, the United states
Russia and Japan in Paris represents a
complete backdown on the part OF Rus-
STA, who attempted to throw over her
ally, Japan, and negotiate a loan TO
China by herself, leaving out all the
other powers. The successful termina-
ton of the negotiations eliminating In
the signing Of the agreement placing
Russia and Japan on an equal footlhB
with the other powers, instead OF giving
them special privileges far beyond those
accorded to the other powers, is credited
to the combined firmness and tact OF
Henry p. Dawson, of the New York
banking house of J. p. Morgan Co..
who presided at the last session of the
conference and the one which pre-
coded il.
The final result of the negotiations is
that Russia and Japan have lost all they
fought for and the attempted bolt and
the threats Of Russia have proved as
abortive and as Intellectual as those Of
Theodore Roosevelt this week In Chi
cago. The powers have withdrawn the
concessions at one time offered by them
10 Russia and Japan, and those coun-
tries have been brought to the point Of
signing an agreement allowing them
much less than would gladly have been
given them two weeks ago in order 70
preserve harmony.
In the agreement as signed the new
Article VI. which was the peace Offering
TO Russia and Japan. has been cancelled.
BY that article any single power could
have vetoed the proposed use OF money
in any section or district OF China. That
article consequently gave 10 Russia and
Japan absolute control over Western
Mongolia and Manchuria. where their
special interests lie. but the agreement
has now returned 10 It's original form
and the majority rule obtains for all
parts Of China. Thus the four powers
can overrule the objections of Russia
and Japan TO any proposal for the de-
velopment Of Mongolia or Manchuria, in
stead Of Russia or Japan being able to
overrule the four powers
Russia and Japan have also been
obliged TO accept another provision 10
which they had raised objections This
is the section which required any power
to relnquish without reservation any
part Of its share if the loan which it
could not supply from it's own strong
pend upon their own resources. and can
not vicariOusly Increase their power and
prestige In China by making use OF other
powers
An object lesson was furnished by the
four powers when on Tuesday. after
learning that Russia had taken ad-
Vantage Of the interim in the negOtia-
lions to offer TO carry the entire loan
herself. they advanced S20p.OOO TO
China without guarantees and offered a
further three millions. This at once
brought recalcitrant Russia 20 terms
The European chancelleries. which a
few days ago were accusing America Of
being TO blame for the serious situation
reached in the negotiations, are now
freely expressing their admiration for
the American strength and ability which
brought about the successful termination
now reached.