Russian Threat To Foreclose On China.

New York Times 100 years ago today, January 1, 1913:
Part of Manchuria May Be Seized Because of Non-Payment of Indemnity Installment.
FRANCE SUPPORTS HER ALLY
Other Powers Seem Indifferent — Collapse of New Government Likely if Threat Is Carried Out.
By Marconi Transatlantic Wireless Telegraph to The New York Times.
    LONDON. Wednesday, Jan. 3.— The Peking correspondent of The Times wires under yesterday's date:
    "China begins the new year by defaulting as the powers have not replied to her request for an extension of time in the matter of the arrears in the indemnity installments. The opportunity to arrange for advances from the Crisp group has been allowed to slip, while the negotiations with the six-power group still drag on, and, in any case, the six-power group does not contemplate the provision of money for this purpose.
    "Funds, therefore, are not forthcoming, and the indemnity payment due to-morrow cannot be made.
    "Russia is opposed to granting further grace and, it is understood, threatens to foreclose some source of revenue, say, in Manchuria, from, which the debt may be realized. France supports Russia in this policy of making China bankrupt, and the rest of the powers apparently do not actively oppose such a course.
    "A loan by the six-power group would relieve the situation, but failure to come to an agreement with the banks means the tumbling in of liability after liability upon China and the creation of financial chaos, compelling foreign intervention and entailing political consequences bewildering to contemplate.
    "It is true that the prospect of foreign intervention is looming ever larger in the distance, but until the schemes now being promoted to meet the requirements of the six-power group and generally to organize the finances of the country have a fair trial the need for intervention will not be urgent and the powers are certainly totally unprepared for concerted measures dealing with the unsatisfactory and unfortunate situation now existing. "In these circumstances, to precipitate events by standing aside while an associated power forecloses for a comparatively trifling sum is subversive of their own policy on the part of the other powers. It is time for the powers with commercial interests in China to take the lead and either dissuade Russia from taking action or advance to China the £1,500,000 ($7,500,000) necessary to enable her to meet the Russian and French claims.
    "If Russia carries out at this moment her professed intention of recouping herself in Manchuria the present Government, already dangerously invertebrate, may collapse altogether."