THE CHINESE LOAN.

Dominion, Volume 5, Issue 1412, 12 April 1912, Page 5

THE CHINESE LOAN.

* JAPANESE PARTICIPATION. By Telegraph—Press Association-Copyright Tokio, April 10. The Japanese Government has decided on participation in the international loan to China, conditionally on the recognition of Japan's special interests in Manchuria and the exclusion of Manchuria from the loan syndicate's operations. CHINA'S FINANCIAL NEEDS. In an article in the London "Daily Telegraph" on China's financial needs Sir Robert Jkedon, late Acting-lnspector-Geii-eral of the Chinese Customs, said recently that, taking things at what might be assumed to' be their worst, it may be interred that China will want during the next two years i about BOfl.ooo,oootaels, or, in round numbers, 100,000,000 pounds sterling. He continued: Admitting that she can collect in taxes during that time, say, 250,000.000 lacls a year, that would leave a maximum deficit to be provided for (if 300,000,000 taels, or, say, 40,000,000 pounds sterling, in two years. During the last few days the writer heard that precise figure named by a Chinese authority as the amount considered necessary. 11 is, of course, much more than foreigners cult be expected to lend the Government, but much less than it is hoped foreigners will have an opportunity of profitably investing in China during the next decade. That China would be able to pay the interest on .1:40,000,000 is tolerably certain, as interest and sinking fund would probably represent J;:i,U0ll,0U0 a .war, but foreign financiers could not bo expected to provide any such sum, or any sum more than is actually wanted and is certain to lie judiciously expended. China has so far not produced for the public view any financiers, even any bank governors or railway directors, who should have other people's money to play with.