Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1916-08-03

comes matter for national diplomacy
as much as for individual enterprise.
1t is for this reason that new treat
les relating to the status of strong
powers In the weak countries in the
orient have a direct bearing on the
interest of Americans. For nowadays
1t Is well recognized fact that the
prosperity Of business man who
lives thousand miles inland from the
national boundaries, and who never
does business outside his own county,
is nevertheless dependent on the pros
perity OF the nation as whole, and
that prosperity is in turn dependent
on the state Of foreign trade.
The diplomacy which looks after
business interests has come to be call
ed in the last few years dollar diplo-
macy'-a catch-word that has about
1t hint Of opprobrium. None the
less, dollar diplomacy seems In fair
way to be universally recognized as
the leading form Of modern diplomacy.
Religious wars, wars Of conquest, wars
growing out of personal ambition or
over boundary disputes have disap-
peared among flrst-class powers; even
wars over national honor do not seem
to be much in evidence, for hero arbi-
tration has it's perfect opportunity.
Modern wars are trade wars In the
last analysis. which means they are
the bitterest kind of wars-battles for
existence. They are dollar wars. ana
for the same reason We have dollar
diplomacy.
1t was the scorn for dollar diplo-
macy that led to the withdrawal OF
American capital from participation In
a recent large foreign loan to China.
While no Official statement to this Of
feet has yet been made. the report
is current and accepted that the Unit
ed States will favor American loans
to China. so long as these do not imply
any preferential concessions to the
lenders. This is basically sound
policy for the nation to adopt. In.
dividually, we are all dollar diplomats
in the game Of life by force of neces:
sity, and the same force operates on
nations. .H
Certain parties in China profess to
regard the new American attitude as
coming too late in some respects,
since Russia has recently loaned
$18,0 100000 on account Of northern
Chinese railways and her concessions
cover somewhat the same ground
whose opening was contemplated IN
the American Chinchow-Aigun railway
scheme which fell through on account
of foreign opposition and lack OF
enthusiasm in domestic support. But
there are plenty Of opportunities for
investment, left in China. .'.s.r'-
It is this latter connection that the
possible effects of the Russia-Japan
agreement are giving rise to endless
speculation. What will be the effect
on American chances? Will these two
powers divide the Far East between
them-as Senator Lewis put It, dc
they contemplate the division of the
world into three parts. Europe con
trolled by France and England, an
Asia controlled by Russia and Japan,
and An America controlled by the
United States for business purposes,
liz we can control It? +
1t is certainly to be hoped that these
powers do not contemplate the restric.
ton Of American commerce In the
Orient. We need it too badly. The
world in actual practice will not divide
neatly into three parts. England and
Germany will continue to do an i'm.
mense South American business after
the war, and we cannot afford to limit
our foreign trade to the South Amer
lean market. ... -. .ss
The Japanese prime minister, Count
Okuma, recently assured an American
correspondent that Japan would main.
tain the open door in China. and also
that she would welcome American
capital in the problem of Chinese de-
, velopment. In fact, Japan has always
been ready to welcome American cap
ital in this task; what American mer-
. chants in China have desired is that
the economic law that trade follows
the loan" should be permitted to
operate freely The prime minister
also stated that Japan would heartily
welcome American commercial and in
dustrial activity in China 1t Is to
be hoped that the new treaty and the
course of events will prove that he