OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, January 02, 1912, Image 13

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1912-01-02/ed-1/seq-13/

What is OCR?


Thumbnail for

HOW J. P. MORGAN FREED CHINA
The Chinese Rebelled Rather than Let J. Pierp. Get a Grip on China
Like the One He Has on the Land of the Free and the Home
of the Brave.
Sad as may be the necessity of
'doing so, it is necessary to take
from Willie Randolph Hearst
the credit of freeing China, and
place that credit where it belongs
with J. Pierpont Morgan, and
his ally, the government of the
.United States of America.
The story of J. Pierpont Mor
gan's activities in this regard
brings to mind those legends
which tell how wolves suckled
babes, and which have roused in
suspicious persons the thought
that perhaps the wolves suckled
the babes with ever in mind the
thought of larger and choicer tit
bits in time to come.
Doubtless Mr. Morgan did not
know he was freeing China, and
doubtless he is going to be ex
tremely pained to discover he has
done so. Also, he is going to lose
some money by it, which is one
of the consolations of the situa
tion. Consider the facts:
A few years ago, the Manchu
government "arranged" a loan of
$30,000,000 with French, British
and German financiers, the osten
sible purpose of the loan being
"the development of China by the
building of railroads."
This is using the language of
diplomacy. What really happen
ed was that the French, British
and German governments told
the Manchu government to bor
row the money or prepare for
trouble. And the Manchu gov
ernment preferred to sell out
rather than face "trouble."
The $30,000,000 loan was se
cret, but where money is con
cerned the nose of J. Pierpont
Morgan is long.
Morgan smelled the loan, and
immediately raised a howl! Had
not Minis.ter Conger, accredited
envoy of the United States of
America, in 1904 wrung from the
Manchu government a written
promise that American financiers
would be in on any "railroad
loans" made to China.
Minister Conger had, and here
were other countries splitting up
a fine loan of $30,000,000 and
American financiers not in on it.
Morgan requested the State De
partment to get busy, and the
State Department-did.
Secretary of State Knox took
the- matter up with the 'represen
tatives of the Manchu govern
ment. Willard Straight, former
ly American consul general at
Mukden, and at this time head of
the Division of Far Eastern Af
fairs in the State Department,
was released from his duties
there, and sent to China as the ac
credited representative of Mor
gan. The people of China were al
ready peeved about the way in
which foreign countries were
"developing China." The Man
chu officials were in a hole. They

xml | txt