The basic British policies toward China were tald down in 1920. They are contained in the memorandum of Decembey 18 of that year submitted by the British Minister to China tothe Diplomatic Corps in Peking. Tt has been called the Christmas Memorandum, as it was Dublished on December 26 and was referred to by the late Sir Austin Chamberlain who was then Foreign Secretary and therefore responsible for the memorandum as a Christmas Wwas_a most important document in Sino-British relations in declaring. the fundamental principle that the solution of Chinese problems is the sole right of the Chinese. tt re. cognized the aspirations of "young Market for Trade Interest in Ching as a market for trade. Is probably the chet interest Gfiany other countries besides Great Beitin Te has. therefore been the intention of many that China should
development of possibilities of inter-pari ttentin "to the fnstional trade. for both import and Export as well as for investments, Tite is specially so. in atime like fine' present. when China needs, much capital as possible for her feconomie' development and we know hat Mer national capital J imited.
Hence, although government mono-Feith. the "times, action along this Isa policy which Is in keeping
fine must be based. on careful planing 50 that no adverse effect should had on international trade, Hence ise." encouragement. of domestic captai while justified 95 2 general policy. should not be proceeded. with f'such a way as to discourage for-feign capital flowing into the country. Then the matier of credit is such a delicate index fo a nation's stability find. prosperity.
Text read from the printed page and cleaned; old type leaves the occasional error.