New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-19

had been so delicately and assiduously
fostered by Secretaries Hay and Root.
Later. however. Mr.. Knox. by going TO
the assistance of the Chinese Republic
and arranging that American bankers
should participate in the loan SO greatly
needed by the new administration,
sought to undo the previous misstep.
Repudiates Knox Policy.
President Wilson. acting, presuma bly,,
on the advice of Mr.. Bryan, repudiates
the steps taken by Secretary Knox
with regard 10 tho loan. and announces
that he has Informed the American
bankers who were preparing TO ad-
vance to China share of the desired
funds that he must decline 10 request
their participation in the loan, as the
administration does mot approve the
conditions of the loan or the implica-
tons of responsibility on it's own part
which IL was told would be involved IN
the request.
The bankers who, on the request OF
the former administration, had been
prepared to advance share OF the loan
told President Wilson they would not
care to carry ont the plan unless re-
oucstod so 10 do by this administration,
and II is this request which the Presi-
dent declines 10 make, explaining that
the responsibility such request would
imply might conceivably go the length
in some unhappy contingency Of fore
ible interference in the financial and
even the political affairs of that great
state. Just now awakening to a con
seriousness Of its power and obiga lions
10 its people
President Wilson's statement in fun
is as follows:
We arc informed that al the request OF
The last administration a certain group OF
American bankers undertook 10 partici-
pate IN the loan now desired bv the gov
eminent OF China Approximately $40
600 010l Our government wished Amer
J lean bankers TO participate along with N"
bankers Of other nations. because ~ d"-
sired that the COOL will Of the mted
States toward China snOuid be eNilDlt"d
in this practical way. that American cap.
ital should have access TO that great
country and that the 'nited states
should be IN position to share WIN me
other powers any political Responsibilities
that might Dc associated with the develop
ment of The foreign relations ~ emma IN
connection with her industrial ana COM
rnercial enterprises.
The present administration has been
asked by this group Of bankers whether "
would also request them 20 participate IN
the loan.
The representatives Of. the bankers
through whom the administration was ap-
preached declared that they would con-
tinue TO seek their share Of the loan under
TIE proposed agreements only II express
Iy requested 70 GO so by the government
The administration has declined to make
such request because II did not approve
tire conditions Of the loan or the implica-
tons Of responsibility on it's own part
which It was plainly told would be in
volved In tire request
Touches China's independence.
The conditions Of tho loan seem to MS
10 touch very nearly the administrative
Independence Of China itself; and this adj
ministration docs not feel that II Ought,
even by implication, 10 be party 10 those
conditions. The responsibility on It's part
which would be implied in requesting the
bankers 20 undertake the loan might COM
ceivabv 20 the length in some unhappy
Contingenvy Of forcibic Interference IN the
of that great Oriental state, inst now
awakening 10 a consciousncss Of It's power
and 81 it's Obligations 10 its people. The
conditions include not only the pi"dSlng "l
particular taxes. some Of them ahtIquatcd
ana hurdensome. 10 secure the loan. but
also the administration OF those taxes 10y
foreign agents.
Tire responsibility on TIE part Of our
government implied in the encouragement
OF a loan thus secured and administered
is plain enough and is obnoxious to the
PRINCIPLES upon which the government OF
our people rests.
The government OF the United state
is not only willing but earnestly DESTROYS
Of aiding the great Chinese people IN
every way that is consistent witt their
unirammelled Development and its own
immomorial PRINCIPLES The awakening 0f
the people Of China To u consciousness OF
their possibilities undor free government
ic the most significant. If not the most
uomentous. event Of our generation.
with this movement ard aspiration the
American ncoplc are in profound SYM
patty They certainly Wish 10 participate,
and participate very generously. IN OPEN
ing % the Chinese and to the use OF tho
world tho almost untouched ami perhaps
unrivallcd resources Of China.
The government OF the United States is
earnestly DESTROYS OF promoting the most
extended and intimate trade relationships
between this country and the Chinese re-
public.
Tho present administration will urge
and support the legislative measures nee
eSsary Ia give American merchants
manufacturers contractors and engineers
~" banking ana other financial facilities
which they now lack. ana without which
they are AT serious disadvantage as
compared with their industrial and COM
mcrciol rivs)~ This - a. A...- Tids u