Won't Try To Stop The Loan To China.

New York Times 100 years ago today, September 19, 1912:
Our State Department Believes Present Situation Is One for England to Deal With.
LITTLE KNOWN OF JACKSON
Once in Washington on the Trail of the Viceroy of Manchuria-Loan Discussion Here.
Special to The New York Times.
    WASHINGTON, Sept. 18.— The State Department continues to express complete indifference to the repeated reports that China is succeeding in her efforts to float a loan for $50,000,000 without the indorsement of the six power group to which the United States is a party. It is explained that the new negociations which are reported as taking place in London are entirely the affair of Great Britain. This Government assumes that Great Britain is acting in good faith and discouraging her bankers from the loan, but it is admitted that none of the six powers has authority to prevent its people from lending the money if financiers can be found who are willing to take the risk of a large loan to China without a National guarantee.
    The belief is still expressed, however, that the loan will not be floated, and complete ignorance is expressed in the department of the backing of A. Wendell Jackson, who is featured as the moving spirit in the proposed loan. While Mr. Jackson has been known by a few persons here for about three years, the special cable to The New York Times this morning from London was the nearest approach to a sketch of the man that had been seen or heard.
    When the Viceroy of Manchuria visited this country three years ago, Mr. Jackson followed in his wake trying to interest American capitalists in the exploitation of Manchuria. He was entertained here at a well-known club, but his temporary club fellows knew little of him, and never ascertained what interests he represented. At the State Department to-day it was not thought that any American banks were behind him.
    For a man who can command $50,000,000 at will, the amount of information regarding A. Wendell Jackson which the financial district in New York has collected is surprisingly small. He is said to have been associated with Calvin Stewart Brice in the development of valuable concessions in China, and to have been concerned at one time in a plan to start a steamship line to compete with Lamport & Holt. But no one in Wall Street could be found who was able to outline Mr. Jackson's American banking connections, if he has any. He seems to be more firmly established in London, however. Charles Birch Crisp, whom he is reported to have enlisted in his project, is a Director in both the Russo-Asiatic Bank and the Russian Commercial Bank. It was said by a man who had placed a number of important contracts in China that Mr. Jackson's position in trying to negotiate a loan in the face of opposition from the six-nation group was not as hopeless as appeared.
    "This loan situation has become so involved with international politics that we are apt to think that China has no right to borrow money from any one without the consent of the powers," said this man. "The Chinese are proud, and I can understand their unwillingness to accept a loan which provides for a foreigner to supervise the expenditure of all the proceeds, and which would prohibit their borrowing from any other source. Government bonds are the best security there is, and China is good for a loan of $500,000,000, if she could arrange it. Besides the high interest rate there is a big commission to be made on a $50,000,000 loan, and I know that several London banks would jump at an opportunity to participate in Jackson's scheme."