New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-08

with the approval and cooperation Of
the Chinese government and people,
with safety Of investment for the peo-
pie of the United States, Great Britain,
France and Japan, to whom Chinese
securities will be offered; with an ex-
cellent interest return to such invest
ors; with fair profit to the bankers
and with the hope on the part Of the
consortium that with a few years it
will have been able to assist China to
reach such point in the development
and management of her enterprises
that, as a consortium, it will be able to
withdraw and leave the entire field to
Chinese handling, and to such private
foreign enterprise as may continue to
be attracted by the opportunities of
China.
do not mean to indicate that the
consortium is an eleemosynary insti-
tuition. 1t cannot possibly function un-
less it has fair margin of profit to
work upon, but certainly if the prin-
ciple laid down for it's organization is
carried out we shall see no more
spheres of influence" set up in China
Even though the way be long and
difficult we ought to be able, through
the consortium, to attain a greater
degree of sympathy and partnership
among the nations involved, and thus
contribute as unit and with one
mind toward the assistance of China
Americas Pre-eminence
The handling of the whole situation
for the long future depends upon the
personal element. The banking group
representatives at Picking must be of
the highest capacity and character
and the spirit of give and take among
the groups at home and among the
individual members of each group
must be broad and sympathetic.
Owing to the war the British and
French markets may he unable for
some few years to come to purchase
any large amount Of foreign securities
either of China or of any other nation
The American group, therefore. has
by force of circumstances jumped
from an inconspicuous position in the
old consortium to one of prime i'm
portance in the new.
In this, America, as represented
through the group, should be equipped
to play very active part. If sc
equipped she will be able to cnvisage
! the situation so as to lay out, with hen
experienced partners Great Britain
France and Japan, a sound and com
prehensive plan for the economic ano
financial development of China She
will be able to bring to American in.
vestors the true story Of China, the
story of the safety and soundness OF
those Chinese securities which the
American group finds itself able tc
recommend. Through her representa-
tives at Picking she will be able sym
pathetically to WELD influence upor
the present confused elements - tc
make a real contribution to the i'm
proving political conditions there.
The success Of the whole plan rests
in the last analysis, not upon the gov
ernments involved. but upon our pri-
vate citizens, upon the peoples of the
respective nations, upon their good
will, interest and active participation
Finally, in cooperation with the other
groups and nations, America will be
powerful in bringing about for the flu
ture that unity in spirit and attitude
toward China that has been so lacking
in the past, and that in the time to
come we must count upon to make
secure the peace of the Far East