The concession by the Chinese govern: ment to an American syndicate for the building of a railroad from Hankow to Canton has not aroused mud beyond financial circles, the men who are associated in the project give guarantee of their ability to carry it through. They number some of the most prominent business men of the country. At their head is Calvin Brice, several times millionaire, an expert in railway build' finance, and management, a shrewd, capal through its representatives in Paris, pro-man, though one who does not carry with Dably add something to the amount to he him such confidence on the partof the public id' to compensate Spain for what she assume others. He has been identified with the Democratic party in politics and sat in the United States' Senate as representative of the State of Ohio. openly, there is reason to believe that some Ho told a fow days ago something of his assurances have been received by the plans.
American Commissioners that Spain will MR, BRICE EXPLAINs, be satisfied to accept a cash payment for In the broad valley of the Yanutze at the Philippines. This information has Hankow, Mr. Brice's Company. caused a hopeful feeling that everything the constriction of the railway before the Joint Commission will be ad. almost directly south to Canton, and thence justed satisfactorily and that the work of to the sea coast opposite Hongkong. the commission is likely to be shortened There will be 900 miles of road, with considerably. such tributary branches as are needed to It is realised that in conducting the bring to it a country having a population of gotiations the American representatives 200,000,000. Toro of the provinces through must not lose sight of the fact that the which it rans contain 80,000,000 people,—Spanish Cortes will pass upon the treaty more than the United States contain. "We have spent 100,000 dollars in-sions of that agreement must not be so hen it is eigned, and therefore the provi. vestigating the conditions in China," said radically opposed to Spain's interests as to Mr. Brice, ''and deposited with the Imcause it to be rejected and thus bring on a perial Government a forfeit of $100,000. renewal of hostilities or another long Our agreement with the Chinese Government is that we shall construct 900 miles atween Spain and America will remain of negotiation, during which affairs of road at a cost which is estimated at unsettled. With this in view the American $30,000,000 ta $40,000,000, the Govern-Commissioners will not push Spain to the ment to issue bonds which cover the cust wall, even if this Government were dis-of building and equipping the road. posed to do so, and demand the cession of These bonds we have to place. When the Philippines without compensation. the road is completed, we will operate it in The insertion in the Treaty of Peace of a connection with the Government of China, Iequse requiring the payment of money ta that is, according to the just and reason: able requirements of the, Government, which is no more than is required of a company building railroad, in this coun-
Mr. Brice said he could not say how uch of the capital to be expended in the construction of thorood would come to'this country for supplies. He said that the fact that English interesta were combined with American in the enterprise made that uncertain. The labour, he said, would be Chinese; first, because the Chinese labour was the cheapest to be had and second, dis; the Chinese people favourable; because the bee of notices would towards the road.
"As to its patronage," he said, "that is not amatterof doubt. Where railroads have been constracted in China, they have found that_the demands on both freight and passenger equipments have been greater than they could meet, "The Government of China wants railroads," said Mr. Brice, "It want both railroads and telegraphs because it knows that by their aid revolution cane prevented orsubdued. President Dinz has maintained himself as President of Mexico all these years hecwuse the country is covered with railroads and telegraph lines, "Tt used to be that if a revolution started in a remote part of the country it was two or three week perhaps before the Government heard of it, and as much longer before troops could be sent to put down the uprising. Now if " revolution is planned the Government knows it within an hour, and in a day it can have troops on hand to suppress it, "The Chinese have frequent uprisings in different parts of the great empire. They realise that by the aid of the railroad andthe telegraph they cum uphold' their authority. The proposed railroad from Canton to Hankow, combined with the railway which the Belgians are to build from Hankow to Peking, will give the Government a means of inland communication, bringing the principal points in the empire in close touch with each other, but remote from the soa as to be protected from attack by any of China's enemies, ""Hankow, which will be one terminus of the road, is 700 miles from the coast, on the Yangtze river, 'That strom is navigable practically all the year round for vessels drawing 40 fect' of ware. The finest steam vessels ply on it no Beyond it smaller steam vessels navigat upper waters and the branch streams and reach a vast territory. The valley is populous, but fertile, and it will in immense business for the new Pho bonds," Mr. Brice said, "are as ference to anyone who owns consols French Consuls, It makes
whether France is a monarchy or a public. 'The national debt is always sumed by the now Government when there change. China has now borrowed money Russia, Belgium, Hollund, Franco, Eng-Innd, Germany, and the United States, 'The commerce and' wealth of the world stand together for mutual protection. No which owns Chinero bonds is going to stand by and see a new Government in China repudiate the debt of the old."
Mr. Brice said the cost of building the railroad had been Sgured as. nearly as possible but no exact figures could be had, Steel rails might go up 50 per cent because of the great demand for them caused by this and other enterprises and sp increase the cost of the road by $2,000,000; or the price of labour might advance.
As to the amount of the $30,000,000 or $40,000,000 which would be spent in thi country he could not say; but he was propa ed to assert that not less than $30,000,000 of trade with this country would be developed during the construction of the road.
"The way to build up trade is to create a desire for things you have to sell. How many years has it boon since no man in
Text read from the printed page and cleaned; old type leaves the occasional error.