The formal announcement of the "'leasing" of Kiaochou to Germany has been made this week. It has created no very strong feeling in this country. Germany's action scarcely squares with the devotion to justice between nation and nation which she professes; but we recognise perfectly that so long as Brit interests are not threatened it is not a question in which Britain has any cause to intervene. There is, however, a stronger feeling than over that the com interests of England must be safeguarded; and in this connection there is disposition to view favourably the suggestion of a new Chinese loan guaranteed by the British Govern-mont. I believe if the Marquis of Salisbury saw his way to accede to this suggestion for a guarantee by the British Government he would have the support of practically all political parties. Lord Beaconsfield's great coup in the purchase of the Suez Canal shares was, of course, ridiculed and condemned by the Liberal Party at the time; but it is generally acknowledged now to have been an excellent move; and this commercial system of securing an ascendency in international questions has much to be said for it. The rumours of a coming French annexation of Hainan have been revived by this positive announcement in regard to Kiaochou; but there is no proposal in any substantial quarter that England should join in the raiding exploits undertaken by or attributed to the other Great Powers.
Text read from the printed page and cleaned; old type leaves the occasional error.