There is now a marked lull in the £5,000,000 loan advance and the whole loan question has taken on a new aspect which puts the Legations that have been working so hard to secure permission from their Home Governments to make the advance, in a rather ridiculous light. By asking for this permi: sion, by getting it, and by announcing to the Chinese that they were ready to lend the money, they have effectually broken the Joan embargo, and now who should oppose the loan, but the Japanese, working among their Chinese political allies auf advaneing arguments for the reject tion of the Consortium offer and for the assumption of an independent Japanese loan! Something of this sort might have been expected. The Legations which suggested the Joan and arms embargo have at last been inveigled into offering to break it, and now the Japanese financiers, without giving them a chance to advance their paltry five million. have set themselves to work to mako the deal impossible and to advance money of their own on terms much more acceptable to the Chinese militarists. This is the thanks which the negations get for trying to play one Chinese militarist against the other, for trying against Chin, and Chin against to meddle in the little came of Hsu
Text read from the printed page and cleaned; old type leaves the occasional error.