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Russia and Japan, who had hitherto not been parties to the official consortium, perceiving that participation had become a political necessity, now demanded a place which was grudgingly accorded them; and it was in this way that the celebrated six-power Group arose. It was round this group and the proposed issue of a £60,000,000 loan to reorganize Chinese finance that the central battle raged.
The new Government, as yet unrecognized, needed money, and the United States secured a share in a six-power syndicate which was organized to float a national loan. The conditions upon which this syndicate insisted, however, were as much political as they were pecuniary, and the new Government refused to accept them.
We could make out the game as little, light-coloured dots and speckles, thousands upon thousands of them, thicker than cattle ever grazed on the open range, and as far as the eye could make them out, and then a glance through our glasses picked them up again for mile after mile. Even the six-power could go no farther.
Russia and Japan, who had hitherto not been parties to the official consortium, perceiving that participation had become a political necessity, now demanded a place which was grudgingly accorded them; and it was in this way that the celebrated six-power Group arose.
The financial interests agreed to the loan, but insisted on having a hand in the administration of Chinese finance, so as to ensure repayment. At this point President Wilson's administration began. The bankers at once asked him whether he would request them to participate in the "six-power" loan, as President Taft had done.
America drops out of the Six-Power group American press agents treaty opening Korea America's Chinese policy Anglo-Japanese treaty Annuity of Manchu Imperial Family Antung-Mukden railway Ariga, Dr. Army Reorganization Council "Articles of Favourable Treatment for the Manchus" text of
The three bearers squatted on their heels behind us, their fierce eyes staring straight ahead, seeing with the naked eye what we were finding with six-power glasses. We turned to descend the hill. In the very centre of the deep shade of a clump of trees, I saw the gleam of a waterbuck's horns.
Wilson declined to make the request, fearing that at some future time the United States might be compelled to interfere in Chinese financial and political affairs, whereupon the American bankers withdrew and the six-power group subsequently disintegrated. Relations with Japan have been a cause for negotiation on several occasions.
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