The Archive · 1901

The Chinese Indemnity

AN AMERICAN BANKER NEEDED 1S SHANGHAI

W. W. Rockhill, Special Commissioner of the United States to China, had a conference with Assistant Secretary Taylor of the Treasury to-day in regard to the arrangements for looking after the collection of the indemnity of $25,000,000 due the United States from China. It was agreed by the Powers, under the terms of she protocol, that each Power should appoint a banker in Shanghai to attend to she collection and disbursement of the indemnity, the bankers to compose a special committee. There is no American bank in Shanghai, and: Minister Conger recommended recently that the British member of the commission be appointed to repre: sent the United States. Mr. Rockhill and She Treasury officials would be glad, however, if the business could be placed in the hands of an American. It is suggested, therefore, that if a responsible American citizen should start a banking house in Shanghai, he would probably be able to secure appointment to care for this Go ernment's share in the indemnity and receive a commission thereon. He would, of course, be required to give a bond for the honest performance of his duties.

There seems to be a considerable sentiment in official circles in favor of a modification of the Chinese exclusion law. "The "Sun " say:

The reason, however, which seems to be controlling in the mind of Secretary Gage and those higher officers of the Government at Washington who have devoted attention to the matter, is that our new-found interests in China and the Orient, which have had a new birth since the war with Spain, make it necessary that we treat the Chinese more liberally in the future than we have done in the past. The Government of the United States and the merchants of this country now clearly have the preference in China because of the stand we took in the recent troubles there. It is held that if this preference is increased by a removal of the barrier against Chinese immigration to America, our trade and commerce with the country will be tremend ously increased. It is a fact that immediately after the enactment of the Chinese Exclusion law in 1880, our trade with China fell off to the amount of a million of dollars. The American exclusion laws form the greatest grievance which China has ever had against this country, or, in fact, against any civilised nation.

It is admitted that the great, mercantile and shipping interests of the Pacific coast are whally im favour of letting the Geary Law die a natural death, and that the demand for its reénactment proceeds chiefly from the labour organisations of California and the other Pacific States, whose influence in that region, at least, is very great. To a considerable extent, of course, the Pacific coast coast labour organisations are supported in their stand on the Chinese question by other labour unions throughout the country and, unquestionably, a considerable public sentiment. Most people have forgotten that the Geary Law lasts only for ten years.

Text read from the printed page and cleaned; old type leaves the occasional error.

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