The Birmingham age-herald., 1913-03-19
Will Not Ask American
Bankers to Participate in
S125,000,000 Loan
CABINET APPROVES
WILSON'S STATEMENT
United States Maintains Friendly
Feeling Toward Oriental Nation,
But Would Avoid Complica-
tions Loan May Produce

| Washin gton, March 1S.-President
| Wilson tonight in statement approved
| by his cabinet after two hours of dis
cussion announced that his administra-
tion had declined to request the group
| of American bankers to continue their
$125, 100000 loan desired by the Chi
nese government.
| The statement follows:
1--WE are Informed that at the re-
quest Of the last administration a GER
| tain group of American bankers under
took to participate in the loan now de-
sired by the government of China Cap
proximat tely 25,000,000). Our govern
ment wished American bankers to par
| ticipate along with the bankers of 9TH
| er nations because it desired that the
good will of the United States toward
China should be exhibited in this prac-
! tical 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 powers
lany political responsibilities that
might be associated with the develop
ment of the foreign relations of China
| in connection with her industrial and
commercial enterprises.
| Will Not Request Loan
| ",rhe present administration has been
asked nv this group Of bankers whetn-
or If would also request them to par
| ticinate in the loan. The representa-
tives 0, the bankers through whom the
| administration was approached de-
clared that they would continue to
seek their share of the loan under
Ithe proposed agreements only If ex-
inresslv requested to do so by the gov
ernment. The administration has de-
cIined to make such request because
IL aid not approve the conditions of
| tho loan or the implications of respon-
sibility on its own part which it was
mainly told would be involved in the
lrequest
ms TO touch very nearly the admin
listrative Independence of China itself,
and this administration does not feel
that il ought even by Implication to
Inc a marty to those conditions. The re-
| snonsibility on its part which would
| he implied in requesting the bankers
to undertake the loan might conceiv-
| ablv 90 the length in some unhappy
contingency of forcible interference in
/
fairs of that great Oriental state just
nov awakening to consciousness of
Its mower and of its obligations to its
people. fH
| "The conditions include not only the
hedging of the particular taxes, Some
| Of them antiquated and burdensome to
secure the loan, but also the admin
istration of those taxes by foreign
agents. The responsibility on the part
of our government implied in the en-
couragement of loan thus secured and
administered is plain enough and Is OBJ
| noxIous to the princles upon which the
government of our people rests.
DESTROYS of Aiding China
'sThe government of the United
states is not only willing, but earnest
llv desirous of aiding the great Chindee
lpeople in every way that is consistent
with their untrammeled development
land its own immemorial principles, The
awakening of the people of China to q
consciousness of their possibilities un-
jder free government is the most Sig
lnificant. il not the most momentous,
Ievent of our generation with this
movement and aspiration the American
people are in profound sympathy. They
certainly wish to participate. and par
lticipate very generously, in opening to
lConunueu On Paga Eighth