The New York herald., 1921-10-10
CHINA'S BANKERS FIX
CONFERENCE POLICY
Stand on Shantung Is Upheld,
Alien Interests Opposed
in Manifesto.
FOR CURRENCY REFORM
COnsortiums Generally APP
proved if Under Local Con-
troll and Not Baneful.
FOR CURRENCY REFORM
By the Associated Press.


PEKIN, Oct. delayed The Chi
rese Bankers Association. the strongest
banking group in China, has issued
manifesto "for the guidance Of the Chi
rese policy at the Washington confer
cnce." 1t supports the Chinese stand on
Shantung.
The manifesto says the conference
must aim to get permanent Far Eastern
peace on the basis OF mutual interna-
t!onal help. and adds:
First--That the principle of the preser-
.ation of territorial integrity with re-
spect to Chinas sovereignty must re-
ceive first consideration. and that the
principle must not be infringed by grant
ing concessions or comforting preferen-
tial or exceptional rights to foreign in
Gividuals.
This upholds the Chinese stand on
the Shantung question:
Second-That any agreement between
two nations affecting a third shall be
considered null and void unless it shall
be accepted by the third this to be the
cardinal rule in all international deal
ings.
[This pertains to the Anglo-Japanese
alliance.1
Third-That, provided the first and
second suggestions are accepted by the
conference. China agree to the open door
olicy. subject to lasting renunciation by
other nations OF their spheres Of influ-
ence and special interests.
1.-THE Chinese people and Government
always have regarded consortiums and
the recognition Of certain Japanese
rights in South Manchuria and Eastern
nd Inner Mongolia as violating China $
sovereignty
Fourth--That Chinese bankers are IA
vorably disposed toward international
financial cooperation, provided the CO.
operation in nowise interferes with Chi
nese financial and economic develop
ment.
tChinese bankers always have main
tained that China's interests are best
served by nsortiums, working through
them whenever foreign loans are neces-
sary.1
F1fth-That diplomatic instruments
hampering improvement in the Chinese
Governments financial and economic
administration should be cancelled at the
conference.
This refers to the Chino Japanese
loan agreement of 1851
Slxth-That the division OF China into
North and South is purely an internal
political condition and does not exist as
concerns international or Chinese indus
trial and commercial affairs.
In a memorandum dealing with con-
sortiums and railway and currency re-
form the bankers say they are ready TO
cooperate in a consortium whenever ii Is
proper and favorable to China and ad-
wise that China should not recognize
spheres of influence and special inter
ests. 1t suggests that the Government
should devise q unified railway plan, bu,
not yield to the proposal for internation-
alization of the railways The Chinese
Government should be entitled to deter
mine and order railway construction and
foreigners. except technical experts
should not be employed and discrimina-
tion should not be shown If they are
qualified experts.
THE latter suggestion refers to ia
pans twenty-one demands on China BY
which Japan obtained the privilege of
appointment Of Japanese nationals to
adviserships In South Manchuria.
China, the bankers believe. is entitled
to fix freight tariffs without consulting
foreign powers and should use police
and not soldiers to guard the railways.
Foreign and domestic creditors should
rot be allowed to interfere with forests.
mines and other enterprises along rail-
ways.
This refers especially to Japanese
acts along the Shantung Railway.1
Adoption of gold standard. abolishing
the tael and a proper definition OF the
legal standard of finances. enabling the
silver dollar to serve as the sole medium
of Chinese exchange. are advocated by
the bankers. Paper currency should not
be standardized, they say. and foreign
bank note issues ultimately stopped, es-
pecially issues of foreign currency vio-
ating China's sovereignty. against
which the bankers urge prompt Govern
ment action.
This refers TO the gold and silver yen
issues at Dairen and Tsing-tao. which
Chinese bankers and merchants always
have opposed as illegaLl