Treasury Notes Now Worthless Writing on May 20, our Peking For some time the local Chinese press has assumed that Mr. One's presence in Peking had to do with finding better security for some of the big Jananese loans of 1918 and 1919 and that the Tuchuns, in hint-jing about the Japanese money which they were going to get, were convinced. they would be able to hold Mr. One up for a vere respect. able loan in exchange for adequate security for the old loans. Such a Dbarmain would undoubtedly be very good business for the Japanese and very poor business for the Chinese, brt that Pekine's hopes of money are founded upon some such bargain has become a fixed idea in the minds of many persons who are in a position to know.
Tt will he remembered that when the Nishihara loans and others of a similar character were made, no authorization from Parliament, president or cabinet was sought in some cases and no security was asked for other than issues of "Trensnrv notes. printed and delivered to the Japanese on no other attested authority than that of the Minister of Finance.
Text read from the printed page and cleaned; old type leaves the occasional error.