Foreign Financial Control in China

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. . . They are also de- termined to preserve the common interest of all powers in China by supporting by all pacific means at their dis- posal the independence and integrity of China and the principle of equal opportunity for commerce and indus- try of all nations in that Empire. " The year 1908 saw also an unofficial reaffirmation of the same policy, when Mr. William Howard Taft addressed the Chamber of Commerce at Shanghai. Since the foreign policy of the United States was subsequently to be ...directed by Mr. Taft, the respective passage of his speech requires quo- tation : " The United States and others who sincerely favor the open door policy will, if they are wise, not only, welcome, but will encourage this great Chinese Em- pire to take long steps in administrative and govern- mental reform, in the development of her natural resources and the improvement of the welfare of her people. In this way she will add great strength to her position as a self-respecting Government, may resist all " See Malloy, " Treaties, " Vol.

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