We reproduce to-day the main portions of a striking article by Gen, Tsen Chen-hsuan, of Canton, on Peking's loans from and concessions to Japan. In so far as the article is largely an attack on Gen. Tuan Chi-jui the responsibility is the writer's, and in this terrible age of political diatribe, of endless proclamations, denunciations and self-explanations, the article would certainly have gained in strength by appearing less personal in intention. On the other hand, the details that Gen. Tsen gives are of amazing interest, while for the first time that we. remember, he supplies a definite estimate of the amount borrowed, namely Y.240,- 000,000. This is a large sum for the actual state of China's finances, yet not great considering her resources. More to the point. than denunciation, however soul refreshing to the writer, would it be that China's leading men should combine to contrive the repayment of these loans. At present rates of exchange. with the surpluses yielded by Customs and Salt and" with the solid gains resulting from China's entering the war, in the way of suspended Boxer indemnity, cancelled German loans, ete., that. should be no very difficult task.
Text read from the printed page and cleaned; old type leaves the occasional error.