Chungking, Mar. 9.
"Granting by the United States of a loan of U.S.$20,000,000 to China, on the eve of the establishment of a new regime under Wang Ching-wei, is as important as if one million United States' soldiers were fighting in China on China's side," declared the "Central Daily News," official organ of the Chinese Government, in a leading article this morning.
The significance of the loan, the newspaper stated, was far beyond that of ordinary international loans.
The Import-Export Bank, it said, already extended a loan of U.S$25,- 000,000 to China, Regulations prevented further loans, therefore the United States' Government took the trouble io pass new legislation to make the new loan possible.
After the expiry of the American-Japanese Treaty of Commerce and Navigation, the "Central Daily News" continued, the United States not only did not renew the pact, but took no steps to negotiate a new treaty.
Text read from the printed page and cleaned; old type leaves the occasional error.