Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-03-19
American Bankers Indicate
Desire to Furnish Slice Of
S125,000,000 Required by
New Oriental Republic,
REQUEST WOULD MEAN
SPECIAL PROTECTION
President Finds Terms SUI
gested Might Work Harn to
AsiaticS and Impose 0rbsa-
ton On United StaIeS,
NV Morular JournaI specloI Lsa.cd wlrel

(ny Morning. journal special Leased wlrei
Washington. March rs, - President
Wilson tonight, in a statement ap.
proved by his cabinet. after two hours
of discussion. announced that his adj
minlstratien had declined TO reques,
the group Of American bankers -
continue their negotiations for part
oipation in the sl25,0OO,0o0 loan de-
sired by the Chinese government The
statement follows. I'VE are informed
that az the request of the last admin
istration certain group of American
bankers undertook To participate In
the loan now desired by the govern
mont of China Approximately, tl2b,-
oO0. .000l. our government wished
American bankers TO participate along
with the bankers of other nations, be-
cause II desired that the good viii OF
the United states towards China
should have access to that great cOun-
trN ana that the United States should
be- in position to share with the
other powers any political responsi-
hility that might be associated with
the devclopment of the foreign rela-
tious of china in connection with her
Industrial and commercial enterprises.
The present administration has been
asked by this group of bankers
whether it would request them 90 par
ticipate la the loan. The reprcsch
tatlNes of the bankers through whom
q. Gttfa4
declared that they would continue to
seek their shares Of the loan under
the proposed agreements only II eE-
pressly requested 10 do so by the
government.
The administration has declined to
make such request because II did not
approve the conditions of the loan or
the implications Of responsibility on
us own part. which It was plainly told
would be Involved ia the request. The
conditions of the loan seem to us TO
touch very nearly the administrative
independence OF china Itself and this
administration does not feel that il
ought even by implication 90 be a
party 10 those conditions The re-
sponsibility on its part which would
be implied in requesting the bankers
TO undertake the loan might conceiv-
ably go 90 the length. IN some un-
happy contingency, of f0reible inter-
ference in the financial, and even the
political affairs of that great oriental
stute just now awakening to con
sciousness of its power and Of It's OBJ
legations to It's people. The conditions
include not only the pledging Of par
ticular taxes some of them antiquat-
ed and burdensome, to secure the
loan but also the administration Of
those taxes by foreign agents. The
responsibility on the part of our gov
ernment implied in the encourage
meut OF a loan thus secured ana adj
ministered, is plain enough and Is on
noxious 10 the principles upon which
the government of our people rests
'7fhc government ol the United
states is not only willing but earnestly
desirous Of aiding the great Chinese
people in every way that is consistent
with their untrammelled development
and its own inmemorial principles
The awakening of the people OF
china to consciousness Of their pos
sibilities under free government is the
most significant. If not the most mo-
mentous, event Of our generation.
With this movement ana aspiration
the American people are in profound
sympathy They certainly wish to
participate very generously Ia open
ing to The Chinese and 10 the use of
the world the almost untouched and
perhaps unrivalled resources ofI
China
"lhe government Of the United
States is earnestly doslrous Of pro-
noting the most extended and inti-
mate trade relationships between this
country and the Chinese republic. The
present administration VIII urge and
support the legislative measures nee
essary to give American merchants.
manufacturers, contractors and engi
neers the banking and other financia
facilities which they now lack and
without which they are at serious
as compared with their
Industrial and commercial rivals
This is It's duty This is the main
interest Of its citizens in the
OF China. Our Interests
are those Of the open door--a door Of
friendship and mutual advantage.
This is the only door we care to
cnterH
The statement came as a conse-
quence Of the visit 10 Washington last
week OF representatives of New York |
banking firms. headed by willard D. I
Straight Thsy conferred with Secfe- |
tarv Bryan. Of the state department |
who took the situation up with the /
president Officials Of the Chinese /
emlassy also discussed the subject /
with Secretary Bryan and the presi-
dent Mr. Bryan WAS consulted about /
the statement before his departure
FOR the west
fEonfffstQI an Pn~q VxNo