:ཀ ཿ:
W
+
P
7.
550
T
to achieve a lasting settlement, the new system we set up must be elastic and not rigid,
It
must be capable of adepting itself automatically
to suit cheng ng conditions. An elaborate scheme of debt consolidation embodied in the treaty, even supposing it were accepted by the Chinese today, may be the rallying point of a nationalist outery tomorrow, is not therefore the wiser policy to encourage the Chinese to shoulder their own responsibilities and pay their debts in their own way? Instead of increasing our commitments and extending international interference in Chinese affairs, it is necessary to examine how much of the past can be preserved and by giving way on what is less essential endeavour to save what is essential. From the point of view of British interests a fair and honest administration of the customs is vital: it seems to me that this has already been imperilled by the policy of the powers in the past and will be still more so if larger revenues are brought under extended international control. Our position is extremely difficult because being the most vulnerable of the powers we stand to suffer most if a breakdown of the Conference occurs even if such a breakdown is really due to the covetousness of the powers and not to any fault of ours.
10.
*