!
Among the ambassadors and minis
ters of foreign powers there is much
interest in Secretary Knox's new Dol
lar Diplomacy as applied to the Far
East. Discussion is frequent as to its
motives, its extent and its financial
backing.
From the diplomats themselves The
World has gathered interesting com
ments and speculative predictions, cov
ering diverging points of view, all
agreeing, however, that the financial
power of J. P. Morgan must now be
considered in affairs of nations as well
as of corporations. The World gives
herewith an epitome of the diplomatic
discussion.
The new diplomacy of Secretary
Knox is said to have established a field
of truce for financial interests in Wall
street that were previously hostile.
The relatively short time set by the
State Department for consummation of
its plans in the Far East rendered it
impossible for Mr. Morgan to carry
them out alone. Hence it has been
decided to lay aside the competitive
war which opposing financial syndicates
have been waging.
This does not mean that strictly
American competition will cease at
home, but regardless of it these syndi
cates will unite and together storm the
more promising field. As they are
willing and the government desirous
that they do so, there is a community
of national and individual interest in
this American coup that threatens to
displace European prestige in the Far
East.
For some time England, especially,
has felt that Chinese loans would only
be commercially valuable so long as
the central government was in power,
a contingency not at all assured. But
the United States, in planning to take
over, through her citizens and corpora
tions, whatever options, concessions or
outright purchases deemed politically
worthy of ownership or other similar
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AIL Hours Wednesdays and Saturdays
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control, will not be content with mort
gages on certain customs houses or
other Chinese revenue channels. On ]
the contrarv, they will seek to obtain j
concessions of territory, franchises for j
indeterminate periods, with express
understanding that in the event of de
fault both territory and franchises will
revert to the bondholders. That this
is not contrary to the open-door policy
has been hinted by the State Depart
ment.
China, moreover, is glad to have the
United States assume this policy. For
years she has strenuously opposed the
politics of Europe. Now that Japan
has shown herself in concert with Rus
sia, China has become not only suspi
cious, but entirely detached from the
island empire. Minister Chang Yin
Tang, the new Chinese envoy, is await
ing a memorial from Pekin which will
set forth to the State department his
government’s complaints against the
ixiwers.
Much of the success of American su
premacy as China’s adviser will depend
upon the possible visit of Mr. Roosevelt
to that country next year. The invita
tion has been extended to him by Tang
Shao Yi, special ambassador, who vis
ited the United States last year, and at
a previous date by the late dowager
empress, Tsze Hsi An, and conveyed to
him informally by Alice Roosevelt
Long worth, his daughter. There is a
likelihood that President Taft may ask
Colonel Roosevelt to visit China osten
sibly as an American citizen, but par
ticularly as an advocate of the new
diplomacy.
Much lies behind the joint rejection
of the Manchurian neutralization pro
posal by Russia and Japan. Yet by
this very rejection, it is said by offi
cially disinterested diplomats, both
Russia and Japan have deprived them
selves of the only opportunity to cut
short the American financial conquest
of the Far East, for Russia has tied
France's hands while Japan has tied
England's. Germany, for years ilesir
j ous of dislodging first England and then
| Russia, is perhaps the happiest nation
today because of this situation.
Protests of powers cannot prevent
American citizens and corporations
from going into China and purchasing
or securing options on whatever they
want, provided it i#a bona-fide purchase
or concession. There is no doubt that
the United Ftites as a nation or group
of capitalists has money enough to pay
for whatever she wants. The right of
this country to protect these properties ■
in any way necessary, by diplomatic or ;
consular agents, by policing, or in a :
military way, as a precaution or neces- ■
sitv, is a part of the new policy.
This is the very fact that leads Ger-!
many to believe that the American j
government is backing the Morgan j
syndicates in these transactions. Pri- j
vute financial transactions extending j
perhaps into $2,000,000,000 in less than |
twenty years are counted on if the'
government pledges itself to back j
them in every legitimate manner.
The Far Eastern field is overshadow-;
ing the South American. Diplomatic!
intercourse with Brazil, now pending, !
will practically delegate to the latter j
country the power to act and enforce j
the Monroe Doctrine. Wall street is
well entrenched in South America, and ■
future loans to be required by those,
countries, aggregating about $100,000,
000 as now estimated, will be devoid of
diplomatic hitch as confronts the loan
questions in the Far East. This will:
give the United States the freedom to
devoto her whole attention to the
Orient.
The spirit of the Chinese is one of
gamble, and this is considered a point
in favor of a Pekinese Wall street. Mr.
Morgan, with his syndicates, one diplo
mat said, could reorganize the Chinese
treasury, bond it, back it, dominate it,
and make it subsidiary to as well as
the directing influence of a stock mar
ket that China will find necessary to
install as soon as she actually starts
with her railways, waterways and other
bu ilding operations.
Such an arrangement he believed to
be the goal of the United States. It
would enable the Chinese to back their
own loans and projects with American
money, r.ot entirely taken away from
American banks, because returned
through purchases and without opposi
tion from foreign capitalists.
The Henkow Sze Cliuen railway loan,
which has puzzled the American peo
ple in general, because of the paltry
$7,500,000 concerned, is not a financial
deal. It is strictly diplomatic. To give
eventually the American government
the right to oversee, politically, the
future operations in China, President
Taft demanded the right of participa
tion of American capital in the loan,
to be taken up, as generally believed,
by Morgan syndicates. The further
diplomatic discussion about it is sup
posed to be a State Department ruse to
see how, and where, the powers truly
stand. It is possible that Germany’s
opposition will now be no more, be
cause of the elimination of Russia and
Japan as political factors in the Far
East. At least that the elimination
has begun is the accepted fact.
There is said to be an understanding
among European powers, instigated by
Germany, that any loans made to Japan
would be equivalent to financing that
country for her eventual supremacy
over themselves in the Far East. This
is the reason why today Japan is expe
riencing difficulty in borrowing money.
Japan’s rejection of the Knox Manchu
rian plan has tow closed to herself the
American money market.
So far as the Hankow loan goes, only
interests with unlimited money can
take it up. Its soundness, as an invest
ment, is not questioned, but it is a deal
whose profits may be de'ayed years,
and then the inducements might not
be as great as some of those offered by
loans already offered on the market.
But the new plan is not a mortgage
over the railroad physically.so much
as the franchise and the right to pro
tect, oversee, and even direct tlie terri
tory over which the road passes. This
is the thorn in Japan and Russian sides.
—New York World.
AUNTY HIGHPRICE'S JINGLE
Hi diddle-diddle.
The steak’s off I lie griddle;
We're eating our food with a spoon.
The little dog's blue, as there’s no bone
to cliew
Since beef has jumped over the moon.
Jack Sprat could eat no fat,
His wife could eat no iean—
They joined the anti-meat reserves
And praised the juicy bean.
Old Mother Hubbard she went to the
cupboard
To get poor doggie a bone.
There was one on the shelf, but she
gnawed it herself
And so the poor doggie got none.
Mary had a little lamb;
j Its fleece was white as snow—
! She traded it for an automobile
And a pleasure yacht with a golden
keel,
And a peck and a half of U. S. bonds
And became the queen of the dizzy
blondes.
Tom, Tom. the piper's son,
Stole a pig and away he run.
Bright lad! He knew he had a chancr
To become a king of high finance.
—Wilbur D. Nesbit, in Chicago Post'
Administration Grilled
Washington, March 29 —Repre
sentative A. Mitchell Palmer, ol
Pennsylvania, waxed very caustic
this afternoon at the expense of the
administration and accused it of
most of the sins of the calendar.
He also went after President Talt,
charging that he was nothing but
the pliant tool in the hands of the
moneyed interests. The tariff he
tore to pieces and claimed that it
was a delusion and a slam, and
that the country had been put to a
vast expense in its framing and
had gained nothing thereby.
Everything Was Hairless
A boarder complained to the pro
prietor of a hotel that lie had found
hair in die ice cream, hair in the
honey and hair in the apple sauce.
“That is queer," said the proprie
tor. “The hair in the ice cream
must have come from shaving the
ice, the hair in tlie honey must j
have come from the comb: but I j
can’t understand how the hair got j
in the apple sauce, for I picked the i
apples myself and they were a'.l
Baldwins.”—Ex.
The person who hollers loudest
about something in the paper that j
does not agree with his ideas is |
usually the one who contributes;
the least toward the support of that j
publication.—Cotdova Ala-kan. 1
Notice of Forfeiture
To T. J. Wilson. Ro.v R. Henderson,
Alfred Place, .T. C. Junkin, Chris H.
Hillstead. O. A. Laviaon and C. H.
Hull: v •
1 You and each of you are hereby no-'
titied that I have expended the sura of
one hundred (100) dollars in labor and
improvement, for each year, for the
year 1908 and the year 1909, upon the
following placer mining claim, to wit:
The First Chance Association Placer
claim, sit tutted and b*-ing on Holden
creek, a tributary of Illinois creek, in
tlie Fort Gibbon Mining and Recording
Precinct, Territory of Alaska.
Said work and improvement was done
under the provisions of section 2324 of
i the Revised Statutes of the United
■States, being the amount required by
| said section 2324 to bold said claim for
| the years 19 >8 and 1909; also that proof
of the annual assessment work was
tiled under chapter 2559, entitled ‘‘An
act to amend the laws governing labor
or improvements upon mining claims
in Alaska,” approved March 2. 1907;
and that if within ninety days after
tlie last publication of this notice you
fail or refuse to contribute your pro
portion of such expenditure, for said
years, as co-owner in said placer min
ing claim, your interest in said claim
will become the property of the under
signed under said section 2321.
Dated at Tanana, Fort Gibbon Pre
cinct, Alaska, Marcii 10, 1910.
S. F. McDILL..
i Date of 1st publication, March 10. 1910.
I Date of last publication, June 10, 1910.
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