Powers.  At this moment it is of paramount importance for Japan to come to a special understanding with Russia to define our respective spheres in Manchuria and Mongolia so that the two countries may co-operate with each other in the future.  This means that Japan after the acquisition of sovereign rights in South Manchuria and Inner Mongolia will work together with Russia after her acquisition of sovereign rights in North Manchuria and Outer Mongolia to maintain the status quo, and endeavour by every effort to protect the peace of the Far East.  Russia, since the outbreak of the European War, has not only laid aside all ill-feelings against Japan, but has adopted the same attitude as her Allies and shown warm friendship for us.  No matter how we regard the Manchurian and Mongolian Questions in the future she is anxious that we find some way of settlement.  Therefore we need not doubt but that Russia, in her attitude towards this Chinese Question, will be able to come to an understanding with us for mutual co-operation.

The British sphere of influence and interest in China is centred in Tibet and the Yangtsze Valley.  Therefore if Japan can come to some satisfactory arrangement with China in regard to Tibet and also give certain privileges to Great Britain in the Yangtsze Valley, with an assurance to protect those privileges, no matter how powerful Great Britain might be, she will surely not oppose Japan’s policy in regard to this Chinese Question.  While this present European War is going on Great Britain has never asked Japan to render her assistance.  That her strength will certainly not enable her to oppose us in the future need not be doubted in the least.

Since Great Britain and Russia will not oppose Japan’s policy towards China, it can readily be seen what attitude France will adopt in regard to the subject.  What Japan must now somewhat reckon with is America.  But America in her attitude towards us regarding our policy towards China has already declared the principle of maintaining China’s territorial integrity and equal opportunity and will be satisfied, if we, do not impair America’s already acquired rights and privileges.  We think America will also have no cause for complaint.  Nevertheless America has in the East a naval force which can be fairly relied upon, though not sufficiently strong to be feared.  Therefore in Japan’s attitude towards America there is nothing really for us to be afraid of.

Since China’s condition is such on the one hand and the Powers’ relation towards China is such on the other hand, Japan should avail herself in the meantime of the European War to definitely decide upon a policy towards China, the most important move being the transformation of the Chinese Government to be followed up by preparing for the conclusion of the Defensive Alliance.  The precipitate action on the part of our present Cabinet in acceding to the request of Great Britain