WARNING TO CHINA.

Dominion, Volume 6, Issue 1556, 27 September 1912, Page 7

WARNING TO CHINA.

POWERS AND THE LONDON LOAN. Bt Telegraph—Press Aesociation-Oopyright Peking, September 25. The British Minister to Peking, Sir John Jordan, has presented to Yuait-Shih-Kai, President of the Republic, a statement of China's liabilities. The sum of ten millions will require to he paid Within a few months out of the forthcoming London loan for that amount. He has warned Yuan-Shili-Kai that 110 must carefully consider the situation before adopting a course which the six Powers have not approved. CHINA'S NEED OF MONEY. Tho "Berliner Tageblatt"-, recently published an interesting interview with a member of the Chinese Legation in Berlin, in tho course of which tile diplomatist made the following observations: "Tho road which was suggested to China by the Six-Power Syndicate for obtaining a loan of ,£60,000,000 has becomo itiipas* sable. Tho banks, supported by their respective Governments, refuse to grant any moneys without a financial control which would become virtuallv political control. The lalest plan, that China should herself appoint and pav European financial controllers alter the manner of tho officials in the Marine Customs administration, would sufficiently safeguard tho control over the 'application and the repayment of the' loau, but as the Powers want to have the political control it ,is doubtful whether European officials appointed' by the Republic to exercise a purely financial control would meet their intentions. It is not to be expected that China could meet her needs by an internal loan, Since, the population has no confidence in the Government. All that remains to China is to break down the monopoly of the syndicated banks and to seek to raise a loan througli outside banks. "MOney, however, is not the sole ob.lect of concern with tho Government. The administration lias no officials, and the discipline has everywhere become frightfully loose. In former times 110 one dared to raise his voico against a decree by tho Emperor or by one of his Ministers. At present, no one wV!ds any authority, not even Yuan-Shih-Kai. This Mate of affairs also increases the foreign dnngor—above all that which proceeds from the aspirations of Russia and Japan, Manchuria and Mongolia are constantly threatened by gravo complications, though Russia will scarcely dare to have recourse to an open art of violence for fear that she mnv have as unwelcome partners England. France, and Japan. Some of her plans could be realised in a miasiconstitulionnl manner by means of the money-loving Mongolian princes, should China fail lo restore\her former unity and strength/*