Union of China have forwarded us 'a copy of a telegram addressed to the Diplomatic Body in Peking, protesting against the proposed loan of £5,000,000. "The North and South Governments," it says, "are aggregates of corrupt traitorous officials and militarists whose actions are entirely contrary to the people's will.... This loan (if true) is the same as giving robbers weapons to kill the people and rob their property. A loan without the consent of the legal parliament can never be recognized by the people" The Union appear yo have overlooked the conditions under which the loan is offered, nantiely, foreign supervision of its spending and a part of the money to be used for disbandment of troops, also under foreign supervision. But the loan, as we pointed out on Saturday, is' a very half-hearted kind of measure: there would nor be nearly enough money to disband on_a really large scale or (what. is still more important) to provide work afterwards to prevent the disbanded from re-enlisting. and one cannot be surprised if student organizations object to it.
Feb. 11.
Text read from the printed page and cleaned; old type leaves the occasional error.