The most significant bit of recent news is that which comes from China touching the commercial and ical intentions and expectations of two important bodies of capitalists—American and British—in that country. It is apparent that the two railroad corporations which these bodies have formed, and in behalf of which they expect recognition from Chiva and support from Great Britain and the United States, ate likely to force the hands of the two governments. They represent enormous power, financial and political, and is perhaps especially true of the Ameri combination, which is practically the whole financial interest of New York.
Our readers will recall, perhaps, the Weekly's prediction that the establishment and retention by our Government of political interest in the Philippines would necessarily involve us in China. Our prediction is likely to come true sooner than we anticipated, but at the same time it will be well if its approach shall be through the natural channels of commercial and industrial enterprise. The Government announces that it will defend, and perhaps assert, the rights of American Fitizens in China. This ought to go without saying, so far as the legitimate rights of American citizens are concerned, and we fancy that Russia would have understood the significance of the announcements of che combination "£ the interests of the American and British companies without any such statement.
The fact ix that American and British interests have apparently joined forces in China, and that the American Government will maintain in the East a force of ships and troops to meet any emergencies that may arise. If the present probabilities of the new situation are realised, we are very likely to enter at an early date that alliance, express or implied, the 1 spect of which hws appealed strongly to both peoples.
We have never believed that such an alliance would make for war, and there is much to he hoped for ina departure from our historic commercial policy. Tf the expectations of the railroad. syndicates are realised the Chinese puzzle is likely to be worked out peacefully and satisfnetoriiy. Tt is trac that a false notion as to the possible requirements of modern commerce has led to enormous modern armaments for the protection of commerce; but it is also true that the mutual international interests and friendships fostered by commerce have prevented actual conflict. The building of railroads in China will be to the advantage of the civilised world. lishmen, including Lord Salisbury, have held that even the building of Ru-sian railroads would benefit British interests on the Yangtze and in the south of China. The additions that may be made to the wealth of the world from the opening of China, the ameliorations of the hardships of life that will be the consequence, are blessings to be welcomed; and, other things being equal, the wise American will he glad of the share of them which his countrymen are likely to enjoy.
Moreover, it is probable that the frm establishment of American and British railroad rights will prevent the farther advance of Russia, Americans have not shared the antagonism of Grext Britain on this account, and very few of us have believed that the Russian would he more difficult to trade with than the Chinaman has been. But the whole civilised world will rejoice in any happening which will dissipate the war cloud that has so lon; been hovering over these two masterful nations. We have become a powerful unit in the armed concourse of Powers in the East, and we welcome the spread of our commercial interests, and any tendency toward breaking down the barbaric barriers which have produced our economic and costly trade isolation. We believe that extended commerce makes for peace. The conviction that the United States and England can stand successfully against a world in arms is but the superficial view of the moment. The event that leads the United States out of her false economic position will do more than anything dao can possibly do to make the peoples of the world so mutually dependent that war will become as absurd as it is now barbarous,—Harper's Weekly.
Text read from the printed page and cleaned; old type leaves the occasional error.