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shipping. Even if the President ultimately vetoes it, its present position shows that at least two-thirds of the House of Representatives share Bethmann-Hollweg's view of treaty obligations. And as for trade with Russia, England led the way, while American hostility to the Bolsheviks remained implacable, and to this day Gompers, in the name of American labour, thunders against "shaking hands with murder." It cannot therefore be said that America is always honourable or humanitarian or liberal. The evidence is that America adopts these virtues when they suit national or rather financial interests, but fails to perceive their applicability in other cases.
I could of course have given many other instances, but I content myself with one, because it especially concerns China. I quote from an American weekly, The Freeman (November 23, 1921, p. 244):—
On November 1st, the Chinese Government failed to meet an obligation of $5,500,000, due and payable to a large banking-house in Chicago. The State Department had facilitated the negotiation of this loan in the first instance; and now, in fulfilment of the promise of Governmental support in an emergency, an official cablegram was launched upon Peking, with intimations that continued defalcation might have a most serious effect upon the financial and political rating of the Chinese Republic. In the meantime, the American bankers of the new international consortium had offered to advance to the Chinese Government an amount which would cover the loan in default, together with other obligations already in arrears, and still others which will fall due on December 1st; and this proposal had also received the full and energetic support of the Department of State. That is to say, American financiers and politicians were at one and the same time the heroes and villains of the piece; having co-operated in the creation of a dangerous situation, they came forward handsomely in the hour of trial with an
