[This Document is the Property of His Britannic Majesty's Government.]
[March 9.]
561
C. 0.
AFFAIRS OF CHINA.
CONFIDENTIAL.
[7667]
No. 1.
TZ533
SECTION 5.
02
MEGE 10 APR 07)
(No. 30.) Sir,
Sir J. Jordan to Sir Edward Grey.--(Received March 9.)
Peking, January 19, 1907.
I HAVE the honour to transmit to you herewith copy of a despatch which I have received from Mr. Fraser, His Majesty's Consul-General at Hankow, forwarding a summary of an essay on the effects of the influx of foreign capital on China, which has appeared in several issues of the "Kung-lun Pao," the semi-official organ.
The essay is interesting as a specimen of a particular line of Chinese thought.
I have, &c. (Signed)
J. N. JORDAN.
(No. 5.) Bir,
Inclosure 1 in No. 1.
Consul-General Fraser to Sir J. Jordan.
Hankow, January 11, 1907.
I HAVE the honour to forward text, with a condensed translation, of an essay on the effects of the influx of foreign capital on China which has appeared in the "Kung- lun Pao," the semi-official organ, of the 27th and 28th December, 1906, and the 1st, 2nd, 9th, and 10th January, 1907.
The pseudonym of "the recluse who cultivates stupidity" indicates a Mr. Hu Meng-yen, of Hsien-ming district, who has a local reputation for ability and learning. The reference probably is to the famous Hsiao-ying Shih's lines, "I hope by cultivating my stupidity to protect myself, and dispel dangers yet unborn."
The essay, with its show of historical knowledge, its reform proposals, and its anti-foreign bias, represents, there is little doubt, the attitude of most of the local officials and gentry.
I have, &c. (Signed) E. H. FRASER.
Inclosure 2 in No. 1.
Summary of an Essay on the Advantages and Disadvantages of the Influx of Foreign
(Condensed Translation.)
Capital on China.
REFORMERS all demand promotion of education, extension of trade, improve- ment of army, opening of mines, building of railways, increase of steam-ships, purchase and manufacture of men-of-war, rifles, and cannon, cultivation of arts and manufactures ; only there are no funds available for these needs. foreign capital as a last resource has arisen, and foreign capitalists take the opportunity Under pressure, the proposal to get to offer means for all these reforms, making agreements, either by Governments or traders, to get hold of our resources. The influence of their bloated power on our people's subsistence is the greatest topic of the day.
China, for her wide area and teeming numbers, her fine mines and abundant natural wealth, has long been known as the first State in the world; but the war of 1894 left her weak and poor. In 1895, 1896, and 1898 she made large foreign loans, to which was added the Boxer indemnity, but such temporary loans do not represent the acme of influx of foreign capital. These transactions, however, opened the way for foreign Syndicates to engage vast sums in industries in the interior, to open ports, establish Companies, station gun-boats, add Consuls, build rows of big foreign buildings --which do seriously affect our people's livelihood and our Government's future productive power. The writer therefore begs to attempt to estimate the balance of profit and loss, and to sketch the way to meet this movement.
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