Gnd London, The \Centary Cot Chinese American Pate The policies are those of Japan, Great Britain, and the United States, in other words, the Imperial istic and the Democratic. These three Powers are still great, in spite of the Great War, and the earth-Jquake, but the greatest of the three the United States, and its policy and its institutions " must prevail Asia, especially in China, provided the people of that country will, show & measure of common-sense. America was preserved from the aggressions of imperialistic powers by the Monroe doctrine. China is to be saved by the Hay doctrine. Of the two, the latter is the most important to-day: and if a choice to be made the Monroe document may be destroyed and all emphasis placed on its eastern partner, the Hay paper. 'The Monroe is no longer needed as the dangers have passed with the temptation. A nation like an individual can' only be tempted when there is a chance of setting anything. Imperialism is wiser than it used to be and has learnt discretion especially since the United States is strong and the Imperial' Powers weak from wars. and the payment of heavy debts or the failure to do s0.
But it is dif-|1 ferent with China and the Asiatic continent. It is weak, corrupt and offers an insidious temptation Jothers by reason of its wealth and resources. It therefore attracts the! greedy eyes of imperialism. The Hay doctrine must be enforced and the integrity of the East preserved. The essence of this doctrine is the integrity of China and the Open Door. The question of integrity may be left, but it is impossible to avoid the question whether China will allow itself to be the subject for an international agreement Hay Doctrine not has imperialism? Tu to. relinquish the Monroe and to enforce the Hay, Doctrine the autho vision is not Tong.
Whether China shows great re cuperative powers or no she must be preserved by the Hay method Jand be permeated with American institutions and the American ideals Jof democracy. This apparently will not be easy. The Powers are deeply involved in Chinese affairs and the country is heavily mortgaged. Tt would be vain to hope that the country could have a chance of! Jadopting the glorious ideals of the Republic unless the present burdens of China contracted with Great Powers, from necessity or folly, were removed. There is a way out lof the difficulty. The United States jean intervene, and by a wave of the golden wand, remove the whole! Jburden from the shoulders of this burdened country of China, Ameri. Jca is the overwhelming creditor Jcountry of the world. Every other is heavily in debt to it. The method then is easy. Let the Chinese debt. be charged to ease the debt of the Jother powers to America. The Jereditor countries of China have bu: te, write against all loans and advances the word paid,' and trans-for the amount to lessen their debts to the United States. "It is a book transfer, in a way, and really the total amount owing to the States would not be materially altered, since the one is an enormous sum land the other a comparatively small amount. Further the United States lby reason of its tremendous credits jean have great coercive powers. jus! The reluctant and the unwilling can be compelled, and the States need have no fear about exercising this compulsive force, since it would Jarrest the aggressive tendencies of imperialism, give China a chance of revival and keep the word quiet.
This is Mr. Millard's ided, if we
Text read from the printed page and cleaned; old type leaves the occasional error.