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THE NEW CHINESE LOAN.
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THE HONGKONG WEEKLY PRESS AND
LEKIN AND THE NEW CHINESE.
LOAN.
K
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[June 20, 1895.
Britain would be sweeter to her than the obtaining of any advantage for trade in general, in which her own share would be the Chinese Government to propose a so small. In three years it will be open to revision of the existing tariff and in view of the financial straits to which China has been reduced it is not improbable that she may proposal may receive the support of Russia propose to increase her duties and that her
have been privately agreed upon already as and France; indeed some such increase may a condition precedent to the issue of the loan. The £15,000,000, the amount of the issue now announced, is understood to be ouly a first instalment, to be followed by others to twice that amount. ment of interest on the present and the And as it is, the pay- preceding loans will absorb fully one fourth of the Customs revenue,
and temptation to the Chinese to make the milch the cow of foreign trade pay increased dues to make up what has to be paid out as interest will be very great. means principally British trade. The Pe- Aud foreign trade king Government, it is understood, is rather anxious to get hold of the revenue of the internal lekin pose to do
stations and may pro able at the
so by making lekin pay. British merchants would perhaps not object same time as import duty. to that if they entertained any confidence in the abolition of the squeeze stations in the interior, but that is which they would desire very substantial a point on guraantees; and if China in making her proposals should be acting under the tutelage of Russia and France the proposals would require to be scanned very narrowly.
IN SZECHUEN.
The disfavour with which the loan arranged by Russia on behalf of China has been the Opium Commission's 1eport a despatch There is published as an appendix to received in London is not surprising, and from the Secretary of State for India to the that the disfavour should be shared at Berlin Government of India, dated 22nd January, is almost equally natural, notwithstanding 1885, in relation to the additional articles Germany's participation with Russia and time in course of negotiation. In the course to the Chefoo Convention, which were at that rance in depriving Japan of some of the of that despatch Lord KIMBERLEY said :-- its of victory. The alliance was not very "It will be seen from the Marquis TSENG's cordially regarded in Germany at the out- "memorandum of March 12th, 1883, that set and as events develop the mistake made "the Chinese Government consider the com- by the German Foreign Office in this matter "mutation of opium lekin a necessary preli- will become
more apparent. Germany minary to the abolition, which they have bas nothing to gain by her interference" in contemplation, of lekin on goods other but loss. Russia and France were both" than opium. It is true that no engagement working for a well defined self interest; "is made that this measure will be immediately Germany for a visionary collateral advan-" carried out. But the argument makes it tage never likely to assume tangible “difficult to refuse to accede to arrangements form. Russia opposed Japan's possession "which are represented as indispensable to of the occupied territory in Manchuria" the contemplated reform, That reformn because she wants Manchuria for herself, "is a measure which has always been urged France joined with her partly in her eager upon China by the other Treaty Powers, ness to cultivate the Russian alliance on especially by Germany and France, and it general grounds and partly because she would be unfortunate that Her Majesty's thought she would secure as her own parti- Government should appear to be standing cular share advantages in South-western" in its way. It would also be beneficial to China. Had the interference taken place at the trade of the United Kingdom with an earlier period than it did we might have". China, and it is not desirable that Her been inclined to think that the omission of "Majesty's Government should be re- the opening of the West River from Japan's presented 8 preventing it for the amended terms was due to Freuch in-sake of the Indian opium revenue." fluence, for it is a point on which the French We believe that despatch has not before are very sore. The river if opened would seen the light, and it is interesting at the be as free to thein as any other nation; but present time as showing that the vexed that is not what they want; they want trade question of lekin had been under discussion, to adopt the Tonkin route, and any opening and that the reform had been urged upon of a possibly competing route they regard as China by the other Treaty Powers, especially inimical to French interests. There is no by Germany and France, the two Powers present reason, however, to suppose that which have lent their assistance to Russia THE ANTI-FOREIGN DISTURBANCES France was in the confidence of Japan when in the recent crisis. Russia now arranges the provision for the opening of the West a loan for China, giving her guarantee River, included in the original terms of therefore, and French banks have under. peace, was omitted from the amended terms. taken to provide the money. Before the loan But the commercial policies of France and was arranged the French Government con- Russia are identical; where Russia goes vened a meeting of bankers to consider the there is no room for any 0112 else, matter, and at that meeting the question of and where France goes her principal taxation in China would naturally receive energy is directed, not to developing her attention. What Russia's ideas may have territory herself, but to keeping other been in giving Clina a helping hand people out. Under the British flag trade is at the present juncture is at present free to all, but the idea of establishing or merely a matter of surmise, but no one permitting any similar state of affairs in will give her credit for having acted in a French or Russian possessions is quite foreign spirit of pure benevolence. Russia and China to the minds of Freuch or Russian statesmen.will now stand in the relation of creditor Germany's interest in China is the same and debtor, and very often a calculating as England's interest, namely, to see the creditor will be indulgent for a time in order country opened up to trade, and that she that he may ultimately increase his claim should throw in her lot with those who and swallow up the debtor's whole estate. So would obstruct | rather than facilitate it may be in the present case, the loan being such opening up was siugular, though ex-intended as a stepping stone to aggrandise-can be put in the assurances of the Chi- planations have been suggested, such ex-ments by Russia at China's expense. It is a planations, however, having nothing to do political, not a purely commercial arrange with China or the China trade, but depending ment, and the recompense Russia will seek on reciprocal advantages to be obtained else will be of a territorial and political character" where. Russia has now exposed her hand, rather than an extension of tradal privileges. or part of it, and Berlin does not like its France is in the same boat; her trade with appearance any more than Eugland does. China is not of such volume that she could So far as Russian designs ou Manchuria are be expected to take a very lively interest in concerned, England might be content to questions of taxation merely for the sake of stand by as a spectator of the game,trade. She clings tenaciously to the pro- or perhaps merely stipulate that New-tectorate of Roman Catholic missions, in chwang should continué an open portChina, not because she cares a fig for the for except at Newchwang we have no missions themselves, but because the pro- direct interests in Manchuria, and we have tectorate enables her to exercise political in- certainly no interest in provoking a conflict fluence. So it will be in regard to any ques-four months, may be expected with cer- with Russia that can be avoided without tion of trade. It seems that prior to 1885 injury to ourselves. But according to she had for some reason urged the abolition Reuter the terms on which Russia is accom-of lekin, but whatever may have been her modating China in the matter of the present motive at that time it is not difficult to loan places China in complete subservience imagine what her present policy may be, in to her, and it is reported that private tele-view of her pronounced hostility to British grams have been received representing the interests. France lends China money, and, ternis as almost equivalent to the establish-f France can so arrange it, the repayment ment of a Russian protectorate. The situa- of capital and interest will fall principally tion is evidently a dangerous one.
on British trade, for to do an injury to Great
1 he outbreak of anti-foreign disturbances in Szechuen will, it is to be hoped, open the eyes of the Treaty Powers to the uselessness of relying on the empty assurances of the Peking Government as a guarantee for the safety of their subjects. When the disturb. ances of 1891 were in progress a protocol was signed by the various Foreign Ministers at Peking in which, having set out the cir cumstances under which the riots had oc- curred, the failure of the Chinese Govern- ment to put a stop to the source of the evil, namely, publication of inflammatory and in- sulting pamphlets and placards, to provide against outrages, or to punish ringleaders, rioters, and guilty officials, the signatories said, "Under these circumstances the under- signed cannot but declare that no faith
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nese Government;" and the protocol concluded with the following paragraph:
The undersigned can only state once more their conviction that the situation is an exceedingly serious, if not actually for the "moment a critical one; and that unless it it be possible to impress upon the Chinese Government and the people that the for- eign Powers are fully prepared to see their 'subjects and citizens protected and the "stipulations of the Treaties carried out, "further outrages and attacks, of much greater importance even than those which "bave already taken place during the last
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tainty, and will in that case probably lead "to graver complications than if a deter- "mined stand were now made by all the Treaty Powers conjointly, as a formal warn "ing to China that she will not be allowed to set at naught her solemn engagements." No determined stand was made and what the Foreign Ministers foretold has come to pass. The locality has been changed, but the pre- sent outrages, it may with safety be affirmed,
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