Show FRANCE PLAYS GAME Realizes That Friendship of Japan Is First Essential in Protecting IndoChina LOANS ON PARIS BOURSE BOTH NATIONS REGARD UNDER UNDERSTANDING UNDERSTANDiNG UNDERSTANDING STANDING AS TRIUMPH Paris June 16 While political consider considerations consid of a high order contributed to the new entente there is no longer any doubt that the substantial quid pro quo given by France was th promise of access to the French market markt t for future Japanese loans Japan did not need a French guarantee for or Korea and Formosa but a Japanese guarantee for or IndoChina was worth a a great deal to tJ France and she was willing to pay tiit th price demanded Japan according to the confidential statements made by some of her representatives in Europe will wi need some something something thing like five billion francs 0 within the next few tew years to convert her present high h rate loans and to furnish uri il I the capital necessary for industrial and commercial development in Manchuria i i and Korea While the money mony markets marks rI f j I the world word are at present unfavorable unfavorable to t Japan Japa has succeeded in in insuring Insuring suring the assent of the French Fencl goven I ment to the th placing of her loans wh i ithe I the opportunity arrives Good Ail Au Al Around Bargain It I is regarded as a a big for fo O Japan but the French government is s equally convinced that it is a good bar bur bargain bargain burgain gain for or France France M I Pichon the preset it minister for foreign affairs had a Ion long experience in the far cast east as minister at Pekin and ad no one appreciated more than he how impossible it would be b for or Franco France to el fend IndoChina against such an au adversary as Japan Besides B s as a matter of ot fact act the dread of o Japanese ag aggression aggression in IndoChina has haunted the dOrsay for years Franco France Franc has ha given glen Japan provocation in inthe Inthe inthe the past pat She Sho was a party part with wih Russia and Germany to the tripartite agreement which forced Japan to relinquish r the tho tl fruits rits of ot her victory over China obtained in the treaty of oC and there has always existed a fear rear that Japan would some day take her revenge In Indeed Indeed Indeed deed there are ac In the archives s of the tue Quai dOrsay dOrsa proofs that at one time tim tm a aplan aplan aplan plan of ot campaign against the French col colony colony colony ony of ot IndoChina had been prepared prepare at Tokio Subsequent events however df th e j I Japan to strike Russia instead le ef i France Fran Ce I When There Was Crisis i There was as a moment during th tho thoI I Fashoda incident when France and ng land seemed on the verge of war Franc was then greatly alarmed lest Japan would seize the opportunity and strike and and hurried preparations pr were made to defend the Chinese colony colon There hero was aM another crisis In the relations between France and Japan during the I anese anee war when France stretched lur hr I neutrality to the he limit In favor of ot her ally aly by b allowing s fleet feet to I shelter sheler for weeks In Cameron bay ba baSo So keenly did the French government at that time tm feel that It I may have given gen just cause for reprisal that after peace was made by the treaty of ot Portsmouth and Japan entered the market for or a loan M 1 then min minister minIster ister later of ot finance deliberately braved the dissatisfaction of Russia by insisting n upon the admission of part of ot the loan lon to the Paris bourse Defending IndoChina To those who complained that it i would woud constitute an affront to Frances Frnces ally aly all he replied substantially Wo We mu mut t think of ot France first It is cheap insurance Insurance insurance ance for or IndoChina M 1 Pichon was possessed of ot the sam same Idea when M 2 1 Kurino the Japanese am ambassador ambassador ambassador approached him last winter rel relative relative to the latest Japanese franc Issue He wanted to know if It Ja Japan Japan I pan was wa prepared to give a written pron Ise guaranteeing IndoChina ge M Kurino Kurine replied that Japan had absolutely absolute no ag aJ aggressive aggressive intentions and offered of to consult his government That conversation wis the germ of the thc negotiations which have resulted mated In the convention Just consummated consummated consummated I |