Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-17
CLIMPSING THE FAR EAST
GIDEON A.
Carnegie Endowment TOR International Peace.

private banking and industrial inter-
eStS-government loans are regarded as
quite out of the queStion-China should
be able to quadruple its present meager
mileage Of railways, rehabilitate its
canals, improve its harbors and estab-
liSh active trading lines throughout the
vast hinterland Of the inner provinces.
Suppose foreign-oWned industries were
to establish branches of their works
back in the interior, giving employment
to large numbers of Chinese. Suppose,
in short, all, or reasonably large per-
centage, Of that billion were spent in
wages to the Chinese people hired to
do the necessary improvement works
and annually perhaps hundred million
dollars were spent in wages to the Chi
nese in the branch works built up and
maintained throughout the country.
Double in 10 Years.
It Is one of the surest things that
can be figured out of the human eQua-
ton that the buying power and the
buying desire of these four hundred
million people would be doubled in ten
years, in such circumstances. The loans
thus made might be reckoned then as
capital investment, upon which divi-
new profits that today await the stroke
Of the rod of financial Moses to
spring from this now barren rock.
The other evening a speaker at one
Of the banquets given in honor Of our
party, discussing the question of extra
territoriality, referred to the classic
definition Of civilization as "enlight-
ened Selfishness." That phrase pre-
cisely covers the present case Of
China's financial needs and the oppor-
tunity that awaits the money powers
here in this awakening land.
Business is gamble in the best OF
circumstances, say some Of those who
thus urge the aiding of China upon the
enlightened selfishness" basis. A
glance through the annual reports of
the financial survey firms in our coun-
try will show to what a large extent
business is today conducted upon the
take a chance" principle. A great fire,
a widespread flood, a war. a peStilence,
a general strike in a basic industry, a
sudden panic through a swift psyche
these factors, beyond the control Of the
wiseSt and most powerful business and
financial leaders, may sweep fortunes
away beyond recovery, may cripple in
dustr1es permanently, may destroy BIZ
lions Of values.
Americans Urge Policy.
mere Is q
gambling chance" to make money and,
incidentally, to help a great mass Of
people to q better state of life. Here is
a chance, say Americans keenly alert
for the advancement of the interests of
their own country, for our own leaders
of finance and industry to give America
a market of untold value, a market
worth even In the first stages more
than any for which at present strenu-
Gus efforts are being made by our Gov
eminent and our commercial agents In
other quarters.
There is something Of alarm in the
urgency with which these Americans
plead for a more aggressive, less con-
Sentative, more businesSlike policy on
the part of American capital. For they
declare that other national interests
are keen to take advantage Of this OPP
portunity. The greatest rewards Of en-
terprise and chance-taking will go to
the pioneers in the work Of financing
the new China. ~.
This Is not altogether sordid view,
thus expressed in terms OF dollars TO be
spent in order that more dollars may
be made. For those who are urging a
brisker policy on the part Of American
financiers see also the tremendous good
that will flow from the industrial
ouickening of China. They see the MIL
lions Of homes brought bit nearer to
our standard of decency, millions OF
children given a better chance for hap
piness and health, millions OF women
relieved In some degree, perhaps only
small, Of the wretclledness that Is now
their lot; millions Of strong men brougnt
into the sunlight Of security against
starvation and pestilence.
Our country has sent over here thou-
sands of missionaries who have Ia
bored faithfully in barren and otten
dangerous and even q deadly neio.
They have set up their missions TOT
preaching the Gospel of Christ, their
little hospitals for the care OF the SICK,
children. Enormous sums have been
spent on these worthy works. The cry
now is for a missionary work by Amer
ican business, selfish work. yet a work
for the salvation of nation: