“BEARING” CHINESE STOCKS

New Zealand Times, Volume LXXI, Issue 4306, 15 March 1901, Page 4

“BEARING” CHINESE STOCKS

In their dealings with the Chinese problem, the allied Powers are '.manifestly jealous and suspicious of each other. We are told by cablegram that Russia and China have come to an understanding with respect to Manchuria: and, speaking in the House cf Commons, Lord Cranborne, Parliamentary Secretary for Foreign Affairs, has announced that the Russo-Chinese agreement regarding Manchuria is engaging the earnest attention of the Powers, including Great Britain. Evidently it is the desire of responsible Chinese to play off one Power against another. If there were unity of purpose and action among the allies, this could not be done. Wh en all were for the subjugation of the Boxer movement and the restoration cf the Court at Pekin, the Chinese were powerless. When all were for maintaining the integrity of the Celestial Empire, Li Hung Chang ■uid Prince Ching were as lawyers without a brief, and could only parley and watch the current cf events. Now we learn that, while the other Powers-have been standing still, Russia has been making rapid progress. Indeed, the policy of the Muscovite is the only stable element in the general flux. The Russian Minister, M. de Giers, is encouraging Li Hung Chang to sign a convention, which avowedly gives to Russia possession of Manchuria; and for this consideration Russia promises not to insist on the execution of half a score of provincial officials whose notorious iniquities warrant their decapitation. But the other Powers still vainly wrestle with Fate and Russian diplomacy. The American Government has again intimated to China that it desires the solidarity of the Empire, and will be no party to its apportionment either in ; “spheres” or protectorates. Germany is • not particular about the acquisition of • territory, but she has already sent in her . bill for an indemnity of £11,800,000 and j : hopes it may be paid. Wd may expect/.

to bear of similar and perhaps larger claims being made by other Powers ; and for the concessions already granted to Russia, Japan is now seeking an equivalent. Along with the statement that the Manchurian Convention had been signed came the intelligence that Great Britain had advised China to defer ratification of the proposed agreement with Russia, and consult the Powers. Su'< sequently wo were informed that China has delayed the ratification of the Convention for a fortnight, and in the meantime the Russian diplomatists are trying to induce the world to believe that they have no sinister intentions regarding Manchuria. The occupation of that territory, Count Lamsdorff asserts, is “neither virtual nor actual.” Russia is, however, restive under delay and piqued at China’s determination to consult the other Powers. The Czar’s Ministers have given it out that unless the Manchurian Convention is signed harsher terms will be substituted. Meantime the work of finesse goes merrily on. It is announced that China refrains from signing this precious document until she ascertains what support the other Powers will afford in the' event of her ultimately refusing to sign it . But the Powers are in the dark as to the text of the Convention, and China has blandly declined to make known its teirms.

The situation is interesting. What the final result of all this “backing and filling” will be, it would he hazardous to predict. There is manifestly a want of definite aim and a lack of unity on the part of the less demonstrative Powers now participating in thei Chinese embroglio. This “open door” has led to laxity, and already there are indications that some Powers will condone all re-1 cent offences for cgnsiderations. The Chinese authorities are first threatened and exhorted, then implored and pampered. Is it any wonder that the antiforeign element in the Celestial Empire becomes defiant of the Powers? The Allies profess to be desirous of setting up a stable Government, but they seek to restore to rule an Emperor who was a mere puppet and a Court that was unable | to keep in subjection the revolutionists within its dominions. Thcs task the Powers have set is not easy cf accomplishment, and it is impossible to say that any real progress has been made during the last six months. It is believed that in this Chinese trouble the ultimate advantage will fall to those who have the clearest view's and the firmest resolution in giving effect to them. The representatives of Great Britain, Germany and the United States are dubious and vacillating. While! these Powers oppose the partition of China, they are frittering away their political influence and opportunities to the amazement but satisfaction of the Chinese Court. Britain’s influence in the Yang-tse-Kiang Valley, a sphere that.was regarded as exclusively her own, is fading away before the machinations of her less scrupulous neighbours. The end of the Chinese trouble is not yet; but in the struggle of Bull versus Belar, . it must be confessed that the “hears” have in. the meantime the game in tHeir own hands.