(4 of 5)
Wang Snaps. As the most Communistic of Saint Sun's disciples. Mr. Wang led an exciting life after the Sun-begotten Nanking Government put aside Communism and began beheading Communists (TIME, April 25, 1927).
Every few years Generalissimo Chiang used to get so furious at silver-tongued, influential Mr. Wang that he would send him on a lavish "sick leave" to Europe with his expenses paid. Today the Premier has a fancy for Germany and his son is singing student songs at Heidelberg.* As recently as 1932 the Generalissimo became so vexed that Whalebone Wang had to double into hiding in Shanghai's French concession. For weeks Mrs. Wang dickered for her husband's future with the Chinese Government. Fugitive Wang at this time was supposed to feel that with reference to pure, indigenous Chinese Communism the Generalissimo was a reactionary mossback, while with reference to Japanese Imperialism he was a yellow-bellied coward. Then one sunshiny morning Whalebone Wang snapped back into the job he has held ever since, Premier of the Chinese Government.
"Impossible to Subjugate!" Current Japanese pressure on Generalissimo Chiang and Premier Wang began with feelers from Tokyo as to whether President Roosevelt's silver-kiting policy has not so nearly bankrupt the Chinese Treasury that, to keep going, Finance Minister Dr. H. H. Kung, owl-eyed descendant of Confucius, will simply have to raise a $100,000,000 loan. Japan, seeing China pinched to the wall, offered the easement of a loan, but on the security that China should submit to a virtual Japanese protectorate.
Chinese statecraft, whenever Japan tries this old gouge, is to squeal to the other Great Powers that unless they come to her rescue she will cave in to Japan, and then where will their $200,000,000 annual export sales to China be? This traditional Chinese squeal always gets some kind of action, and in Washington the British Embassy was soon in touch with the State Department which "as a matter of courtesy" kept the Japanese Embassy informed. Consequently last week Tokyo papers were spilling over their front pages apparently accurate reports of what King George's diplomats had said in confidence to President Roosevelt's. Scarcely exciting, these disclosures added up to a revelation that the Great Powers think matters will drift for four or five months, thus giving Japan that much time to make her deal with China; that the Great Powers are disposed to loan money themselves, possibly in conjunction with Japan, only if there is real danger that Nanking will cave in to Tokyo.
In Nanking, Premier Wang did not cave in but he said he was yielding to Japan in important respects, the quid pro quo not being evident last week, unless "Shanghai Lily" General Doihara had spread important slush around in Nanking and Shanghai.
The same Mr. Wang who in 1932 said, "Japan may send millions of troops but shall find it impossible to subjugate China! . . There shall not be and there cannot be direct negotiations between China and Japan!" has now been himself negotiating with Japanese emissaries and his words in 1935 are, "We shall do our best with Japan to ease economic tension in the Far East."
The proposed terms of easement, obtained in Shanghai from a high Chinese source: