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likin, it is not). If Chinese can break their treaty pledges they can just as easily break their present promises in which personally I have no belief whatever.
I still hold that a vital question of principle is at stake and have little in that sense to add to my previous views (see my telegram 1109 in particular).
It is not only tariff but whole fabric of treaties that is in jeopardy.
In response to your request I venture the following
comments on your proposals:-
(1) They go a great deal further than declaration
of December 18th.
There is still no recognised Government of China; still no national tariff. I cannot but regard them as
premature. Present proposals are likely to be even more distasteful to other Powers, especially Japan, than was our original declaration and that is saying much.
(2) Once you yield on the matter of principle you are in very deep water. There is no limit to exactions that will be placed upon trade and that not only by Nanking Government, provided they last, but by every regional authority throughout China. What Nanking gets will form permanent precedent for all.
(3) What can be arbitarily done regarding tariff can be equally done with other remaining treaty rights and probably will be done more quickly even than we anticipate.
(4) British firms are already on the verge of
collapse....
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