July 19.
It is possible to be more hopeful of a peaceful local settlement of the latest Sino-Japanese clash. Ominous signs which might well be marshalled to justify the worst fears have been set off by the steadiness of the markets. Volubility once again has been reassure ing despite its dangerous tendency to exacerbate feeling. There has} been much argument on both sides, fo prove or disprove premeditation. Tu truth the issue is academic.
Whether the Japanese forces were Sent on manoeuvres near Marco Polo Bridge to create an incident is unimportant, The moment the incident arose the fundamental significance of Japan's ability to} dictate terms became the really vital factor in the situation. China kas officially cited the Nine-Power Pact in evidence of her wrongs. The move is technically. justified but it can be met by: technical objections to support the same inaction as marked the attitude of the signatories toward' the virtual annexation of Manchuria, Including Jehol, and the inroad of Japanese armed force into East Hopei and North China generally. So long as the terms of the Ho-Umetsu agreement are secret it is. impossible for the other Power? to resist the contention that by. her own action, under the pressure of force majeure no doubt, Chis has acquiesced in a substanti: breach of the Pact, leaving Mar churia out of account. Senator Pittman has jumped in at once to defend his country from any' responsibility by alleging that in 1931 Great Britain failed to cooperate effectively with the United' States of, America in stopping Jai anese aggression in Manchuria. Hi allegations receive some colour' from the uncertainty of- Sir John Simon's attitude at that time, but, on the whole, Colonel Stimson's authoritative " disclosures have! shown that the United States was then prepared only to join in "moral pressure" and nothing more. In any case the real issue is what is happening in 1937, not what might have happened ju 1931. China has not at present invoked the Nine-Power Pact any more than she did
Text read from the printed page and cleaned; old type leaves the occasional error.