We have seen what England and France gained by the Chinese declaration of war. What Japan gained was somewhat different.
The Northern military faction, which controlled the Peking Government, was completely dependent upon Japan, and could do nothing to resist Japanese aggression. All the other Powers were fully occupied with the war, and had sold China to Japan in return for Japanese neutrality—for Japan can hardly be counted as a belligerent after the capture of Tsingtau in November 1914. The Southern Government and all the liberal elements in the North were against the clique which had seized the Central Government. In March 1918, military and naval agreements were concluded between China and Japan, of which the text, never officially published, is given by Millard.[1] By these agreements the Japanese were enabled, under pretence of military needs in Manchuria and Mongolia, to send troops into Chinese territory, to acquire control of the Chinese Eastern Railway and consequently of Northern Manchuria, and generally to keep all Northern China at their mercy. In all this, the excuse of operations against the Bolsheviks was very convenient.
After this the Japanese went ahead gaily. During the year 1918, they placed loans in China to the extent of Yen 246,000,000,[2] i.e., about £25,000,000. China was engaged in civil war, and both sides were as willing as the European belligerents to sell freedom for the sake of victory. Unfortunately for Japan,
