The sun., 1916-09-13

A recent Pekin despatch was served
to the American public under the
heading: "Pekin Authorities Unwill-
ingly Respond to O%vertures from
Toxic"
1t was on the rumored loan TO China.
II said that Japan was about to force
q $50. 0O0. 900 loan upon unwilling
China" There Is nothing new or sur
prising about it: such Is the gentle
habit the Pekin despatch has acquired
Of late In dealing with japan. There
Is absolutely nothing wrong with the
despatch. except just one thing: 1t
isn't true.
Japan did not. has not and Is not
likely to force a oan upon anybody.
And there IL no such thing as "un-
willing China when It comes to bor-
rowing money In these needful days OF
the young republic.
As "a matter of historic fact IL was
China who got down on her knees to
Japan n the other members of the
Five Power Group of ~financiers for
the loan of 10000, 900 yen. That was
Immediately upon the death Of Yuan
Shih-k'ai. Japan declined the fiatter-
NY u ltitloIl. AIN IoI INV si"' Wv
good reason: LANG Shih-yi was the
man through whom nina approached
Japan for the loan. Lang was one
of the pillars of the Yuan regime. lie
was the cad of the monarchicai
movements: all China knew 1t. South
China looked upon him with a deal or
suspicion and not II little enmity.
Japan could not aid Liang without at
the same time mourning the grave dis
favor of South China. And to Japan
the good will OF South China Is more
to he desired than the labor votes To "a
Presidential aspirant in November.
Besides. Japan had about f~orty-nine
places for every yen she had AZ the
time. II Japan Is TO put her money In
China at all she would like To use IL
for he exploitation OF the iron mines
Of Human and along the Yangtsc. The
China-Japan Industrial Company mas
the concession for il already. n II a
enterprise alone calls for sa5.OOO.OOo
There are no iron mines Of importance
in Japan she has to import her iron
ore from China. At present, on the
crest OF her war boom. she feels the
need of ore supply more keenly than
ever. She can use every cent she can
spare and more for the development
of the mining concessions given her III
south Manchuria. And then there is a
tempting field for the railway con
struction for three times the amount
Of her idle capital.
All this is not saying anything ahout
another new loan to Russia, in when
she could use say $50, 600 900 to slo"'-
100000 to the eternal gratitude of her
new ally and TO the enormous proht
OF her munition and war supply iac-
tories. Under the circumstances why
should Japan be ~overanxious to force
"a loan TO be spent at Pekin for the
sole purpose of running the Chinese
Government and paying the soldiers
She can get fair rate of interest," on
her money. Of course. But the old
time concessions which made a loan
to China so profitable are out OF the
question now.
Naturally. Japan was much graft
fed when she heard Of a loan nesoti'
alton W China and an Amcrican
banking group Japan is glad to wei
come the American bankers back TO the
original Six Power Group. Tina wouio
clear her Of the charge that she Is
irving 10 ~monopolize the work OF De
yeloping and financing China. Inc
charge is ridiculous on the face oil
II. II would take a hundrcd 'im''
tho available capital Of Japan To uh'
dertake such "A work. N"vertheies'
il seems to enjoy quite an EXTENSIVE