Lord Salisbury met this indictment of his policy, for such,
in fact, it was, with one of the most statesmanlike and sagacious speeches ever delivered by him on a foreign question. The Government, he said at once, would neither build nor guarantee railways in China. But it would be said that at least they ought to help British subjects who wanted to make railways. The answer was that there were no British subjects to help. Of course, if British subjects did come forward they would have every assistance. He was speaking, of course, of the Yangtse Valley. Allegations had been made that the Chinese had been coerced • into unfavourable treatment of British subjects. In order to meet such a state of things, though Lord Salisbury would not admit that it existed, the following intimation had been sent to Sir Claude Macdonald : —" You are authorised to inform the Chinese Government that her Majesty's Government will support them in resisting any Power which commits an act of aggression on China on account of China having granted permission to make or sup- port any railway or public work to a British subject." His belief was that we should gain our full share of profitable railways, but our capitalists were very good men of busi- ness, and were not the least inclined to risk their money in unprofitable enterprises. Our nerves must prepare them- selves for witnessing the bestowal of unprofitable con- cessions upon our rivals and neighbours. There was a morbid tendency to think that no bargain could go in China which was not a concealed bargain for Russia. As to the railway from Burmah to the Yangtse, it was of exceedingly doubtful value, for it passed over a most impracticable country. Lord Salisbury ended with a quite admirable pro- test against a dog-in-the-manger policy in regard to Chinese railways. Of course, if we were prejudicially treated we must fall back on our rights under the Treaty of Tientsin. His final words were: "If our capitalists are able and willing to make railways in the Yangtse Valley or anywhere else we will give them the utmost possible support, but if they cannot we will not try to deprive the Chinese people of the benefits of railway construction."
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