Tokyo, Dec. 23.
h and American loans to the Gen. Chiang Kai-shek regime will have no effect on the final outcome of the hostilities, according to the daily "Hochi Shimbun," which recalled that loans of the two Powers to the Allies during the World War failed to being Germany to terms.
The journal pointed out that the United States lent $11,300,000,000 to the allied Powers and that Britain gave them £1,900,000,000, but the Allies won the war only when the United States entered on their side.
The American and British loans fo China were not new ones, the Gaily stated, but on the contrary were old transactions "which only came to the surface recently."
Loans granted by Britain and America will only add to their bad debts, the "Hochi" said, "especially since a unified central government of China to be organized about April of next year wil be formally recognized by Japan, Germany, Italy, and other countries."—Domei.
Text read from the printed page and cleaned; old type leaves the occasional error.