China's Plight.

Stratford Evening Post, Volume XXXVIII, Issue 8, 9 January 1914, Page 5

China's Plight.

HUGE INDEBTEDNESS.

PRESIDENTIAL PESSIMISM. [By Electuio Telegraph—Copyright] limes'—Sydney Sun Special Cables. (Received 8 a.m.) Pekin, January 8.

China ended the year 1913 owing ,eventy-two millions. The country was 'cononiically weakened by revolution iiid heavy permanent interest on the lUtional debt. Confidence in the Government is slender.

President Yuan Sliih Kai, addressing the insultative body, whom he chose to supplant the Republican Parliament, said: "During the two years' existence >f the Republic the laws have been .1 ragged down to the dust and. motility, sell-restraint and righteousness .iave been swept into oblivion. ".Men talked glibly of patriotism. If ive entrust the Government to a man simply on the score of patriotic zeal, without, inquiring into his capacity, the ilmost inevitable consequence will he national ruin. It is hopeless to anticipate the success of any enterprise unless your money is available for your aeeds. For this reason 1 regard the present situation with profound pessimism. Only a very brief interval divides us from- bankruptcy. When oui finances are under alien supervision and our territories apportioned spheres, under the influence of Fat?, Annam and Korea will be upon us, and it will then be too late for repentance."