2o8 A NATURALIST IN WESTERN CHINA 



on the Government and to disband the soldiery. This diffi- 

 culty involves the vexed question of foreign loans, which has 

 significance far beyond that current in Occidental newspapers. 

 It is the reef on which the young republic may wreck its 

 ship of State. To the narrow view-point of the local gentry 

 and their following these loans will doubtless continue to 

 appear unessential, and if their interests, real or supposed, are 

 affected by the security demanded, their antagonism will be 

 as bitter as formerly. Another difficult class, which if more 

 evident under the old regime has not yet had time to disappear 

 completely, consists of officials who desire to handle loans for 

 the benefits they personally can derive from them. The 

 competent body of officials who know and appreciate the 

 absolute necessity of maintaining the country's credit by 

 meeting all obligations, and also the importance of developing 

 the resources of the empire, will most certainly have a difficulty 

 in disposing of the opposition of one party and the mercenary 

 desires of the other. 



That there are financiers willing to lend money on question- 

 able security and a gullible public willing to subscribe to such 

 loans is everyday history. Money is absolutely necessary 

 to carry on this new republic of China, but it is trite to say 

 that she must bewarelhow and in what manner it is obtained. 

 The integrity of China is the one thing above all others which 

 the Government must maintain, and promiscuous borrowing, 

 even if it tides over present difficulties, may lead to even 

 greater danger in the near future. The one foreign-supervised 

 service which the late Dynasty grudgingly became reconciled 

 to, namely, the Imperial Maritime Customs, has proved the 

 strongest security possessed by the Central Government. 

 Further, the international character of its personnel has been 

 a tremendous factor in maintaining the integrity of the empire. 

 The present Government will surely be well advised to ponder 

 this thoughtfully. Until China has evolved a thoroughly com- 

 petent civil service the example of her plucky and illustrious 

 neighbour, Japan, is worthy of deep consideration. However 

 galling it may be to the pride of the Chinese, it would appear 

 absolutely essential in the best interests of China herself and the 

 integrity of the empire that all foreign loans should be obtained 



