Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1913-03-20
WILSON CHANGES
j. s. DIPLOMACY
Rejects Dollar" Brand of Pre-
vious Administration in Note
on Chinese Loan.
WILL NOT BACK BANKERS
Implications of Responsibility Are
Declared Obnoxious to the
Principles of American
Government.
WILL NOT BACK BANKERS

announced that his administration had
declined to request the group Of American
bankers to continue their negotiations
for participation in the sl25, 900 loan
desired by the Chinese government The
statement follows:
I'VE are Informed that at the request
of the last administration n certain group
of bankers undertook to participate in
the loan desired by the government of
China approximately s125 ooo). Our
government wished American bankers to
participate along with the bankers of
other nations, because It desired that the
good will of the United States towards
China should be exhibited in this practical
way, that American capital should have
access to that great country and that the
United States should be in a position to
share with the other po~crs any political
responsibilities that might be associated
with the development of the foreign rela
tons of China in connection with her
industrial and commercial enterprises.
The present administration has been
asked by this group of bankers whether
it would also request them to participate
in the loan. The representatives of the
ba mixers, through whom the administra-
ton was approached. declared that they
would continue to seek their share of the
loan under the proposed agreements only
If expressly requested to do so by the
government. The administration has
declined to make such reaues. because it
did not approve the conditions Of the
loan or the implications of responsibility
on its own part which 1t was plainly told
would be involved in the request.
MIGHT INVOLVE AMERICA
: 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 it ought,
) even by implication TO he party to
those conditions The responsibility on
, it's part, which would be implied in re-
ouesting the bankers to undertake the
loan, might conceivably go the length in
some unhappy contingency of forcible in
} reference in the financial and even the
political affairs of that great oriental
: state, Just now awakening to conscious
ness of its power and of its obligations to
its people.
| THE conditions include not only the
pledglnG of particular taxes, some OF
them antiquated and burdensome, to Sc
} cure the loan, but also the administra-
tion of those taxes by foreign agents. The
|
ment implied in the announcement OF a
loan thus secured and administered is
plain enough and is obnoxious to the prin-
, | Ciples upon which the government OF OUT
people rests.
/ "rhe government OF the United States
is not only willing. but earnestly DESTROYS
of aiding the great Chinese people in
every way that is consistent with their
I rntrammelled development and its own
immemorial principles. The awakening
of the people of China to consciousness
of their possibilities under free govern
ment is the most significant if not the
-, most momentous event. of our generation
. With this movement and asprati ton the
American people are in profound sym
| pathy. They certainly wish to participate
, ! and participate very generously in open
9 ing TO the Chinese and 10 the use OF the
. world the almost untouched and perhaps
unrivalled resources of China.
ONLY WANT THE OPEN DOOR.
# the government Of the United States
e is earnestly DESTROYS of promoting the
Il most extended and intimate trade relation
= ships between this country ana the
1t Chinese republic. Tho present adn'inistra
/ ton will urge and support the legislative
e measures necessary to give american
merchants, manufactures, contractors and
engineers the banking and other imam
d cia facilities which they now lack and
= without which they are at serious dis
y advantage as compared with their indus
" trial and commercial rivals. This is It's
d duty. This is the main material interest
~ of It's citizens in the development OF
= China. our interests are those OF the open
S door, door If friendship and mutual ad-
vantage. This is the only door we care t.
enter"
IS The statement came as consequence
" of the visit to Washington last week OF
Is representatives, Of New York banking
ID firms headed by willard ID. Straight. They
= had a conference with Secretary Of State
/ Bryan, who took up tho situation Will
IS the president. Officials of the Chinese EN-
n basSy also discussed the subject with Sec
rotary Bryan and the President MIR.
Bryan was not present at to-day's cabinet
lie meeting but was consulted about the
10 statement before his departure for the
O. West
III While the Presidents pronOuncemcnt eN'
- planned the attitude of the United States
T. towards the Chinese loan IT was authorize
u tativcly stated tonight that the same
- pOllcy WOdld apply throughout tlc WI
son administration to parallel situation:
in Central America and elsewhere in
y which the United States was concerned.
% The policy Of protecting through thu
% influence Of the government loan en-
. terprises Of American banking firm
u aboard was a part of what was otter
a referred to az dollar diplomacy
70 during the Taft administration.
81 The withdrawal to-day of the aid o.
l. this government to what has beef
popularity known as the "six-powe
loan" brings to an end the diplomatic
i activity of the United States in tina
& connection. The negotiations for tn
&c floating of the loan have been IL
,e progress for more than two years dur
m ing which time the amount OF the LOAF
j. rose from $4,000 900 to s350,000,00
s. subsequently suggested. Finally up
re on the request Of the Chinese govern
In ment. it was reduced to $12b,000,000,
rs The loan originally was desired b.
- China when in the throes Of recon
'e struction after the fall OF the Manch
IN dynasty. Belgian syndicate was a
] first approached. but later ENGLAND