The Washington times., 1913-09-23

cal systems of the modernized China,
10 conclusive testimony that the United
States action in the matter of the loan
was highly appreciated by China Inc
Washington administration believed
that. after a fashion, that loan was
being forced on China, on terms highly
satisfactory To the interested powers,
but not at all conducive to the independ-
dence and self-respect of China. Thus
ittturns out that while the other powers
will gain-the privilege of furnishing the
money, the United States. will supply
China with its immediate financial
counsel in organizing the business de-
partments of the new government.
Another Alexander Hamilton.
DR.. Adams is. in effect, commissioned
to become the Alexander Hamilton Of
problems are TO striking extent
parallel TO those which Hamilton
grappled when he attempted to make
the weakness and poverty OF the indi-
vidual States wait upon the power and
wealth OF the Union. But what Hamil-
ton did for a new nation of Iour
millions. is to be done in China for a
nation of four hundred millions
In the colonies as Hamilton found
them. the revenue power was chiefly in
the States: the old Confederation had
very limited means of supplying its
z,
always had fiscal resources more sure
and adequate than those of the empire
Even a national army has been but a
very recent experiment, though the
powerful viceroys of the great provinces
had their large and efficient bodies Of
provincial troops.
As il was. in our Union, so in China.
the consolidation of real national
power, the creation of a national rev.
enue and money system. the upbuilding
a fPdnrQl q IL
perior to any other in the land, is abso-
1utely necessary to insure the ,perman
ence Of the new system.
O. Result of Two Influences.
DIR. Adams selection for this post. in
preference to some European economist
Is unquestionably the result of two
things. First. the American educated
Chinese have largely led the revolution
that made China republic. They are
imbued with American ideas and meth
DDS.
. second, DIR. Adams is the author of
book on which the present fiscal and
revenue system Of Japan Is based. and
which has been accepted in the East as
weil-nigA the last word in the scien-
tific organization of government nsCal
systems The book, inded. is known
almost everywhere better than in AMIR
fca. II was published in 1883 under the
title. The Science of Finance. Inc
y
problems much like those which now
face China, seized upon this work as a
guide. 1t was translated and popular
lied in Japanese, and has been widely
taught in their higher schools.
Long before their war with Russia,
when the Japanese were girdng UP their
loins and putting their house in order for
that supreme struggle, their revenue sys-
tenn was adjusted to the program of get
ting the money with the least possible
disturbance 10 general business ana
financial corcerns The Adams theory
of a proper organization Of government
finances was adopted. Though poor
nation, with a small area. very con-
pested population and 40 great credit.
Japan carried that struggle To victory,
and her financial strength and resIl-
Iiency. as indicated by the recovery
after the war. became one of the won
ders of modern governmental expert
.ence.
To Literahze China.
Jaranese leaders. however, recognized
and acknowledged their Indebtedness to
the American philosopher of finance
Indeed, not a few of them have gone
so far as to say that the Adams work
on finance was as important TO Japan
as the work of Its wonderful war
council.
i. That DR.. Adams is to undertake this
great work in China is construed as
meaning far more than appears on the
Zeurface The administration at Peking
plainly intends truly to liberalize and
modernize China, else II would not have
picked this American democrat Ii in
tends to- hold fast to the American
ideals and models that have much
impressed its students and scholars.
Plainly, American influence is to be
frankly and freely admitted TO the
highest places in the administration.
The advantages likely to accrue to
American commerce and enterprise, in
cident to the modernization Of China,
are obvious.