Discussing the question of the support given by the Ministry of Foreign Affairs to the Banque Industrielle, M. Philippe Berthe-Jot says the bank was established the French Minister at Peking, who ® initialled the contract, and of the Minister for Foreign Affairs, M Pichon, who had a personal knowledge of Chinese questions. They both realized the great value, ta French interests, of the foundation of an industrial bank associated by contract with the Chinese Government. The reason why the Ministry did not have to intervene in favour of the bank was that the latter did not want official support, which would have excited the suspicions of the Chinese. It was, on the contrary, the department that applied ta the bank in at least two matters of political importance—the creation of the costly agency at Vladivostok at the time of the Koltchak expedition to Siberia, and the southern China railway concessions coveted by the Germans. Not until it was feared that the bank would fail did the French Government come forward to help it, at the end of 1920 and in 1921. Opinions may differ as to the manner in which this help was given, but there can be no question that, in principle, it was the right thing to do. All expert opinion recognized the importance of upholding such a powerful instrument of French expansion. M. Berthelot concludes by declaring that his official action in support: of the Banque Industrielle was dictated. purely by patriotic motives, and that he intervened much more frequently in favour of the Banque de Indo-Chine than the Banque Industrielle de Chine.
Text read from the printed page and cleaned; old type leaves the occasional error.