Where Young China has cast off the ethical restraints and patriotic morality of Confucianism, it has failed to assimilate, or even to understand, the moral foundations of Europe’s civilisation.  It has exchanged its old lamp for a new, but it has not found the oil, which the new vessel needs, to lighten the darkness withal.

In the opinion of so highly qualified an authority as Prince Ito, “the sentiments of foreign educated Young China are hopelessly out of touch with the masses.”  But while there has been alienation from the ideals of the East, there has been no real approach to the ideals of the West.

Education at Harvard or Oxford may imbue the Chinese student with ideas and social tendencies, apparently antagonistic to those of the patriarchal system of his native land; but they do not, and cannot, create in him (as some would have us believe) the Anglo-Saxon outlook on life, the standards of conduct and the beliefs which are the results of centuries of our process of civilisation and structural character.  Under his top dressing of Western learning, the Chinese remains true to type, instinctively detached from the practical and scientific attitude, contemplatively philosophical, with the fatalistic philosophy of the prophet Job, concerned rather with the causes than the results of things.  Your barrister at Lincoln’s Inn, after ten years of cosmopolitan experience in London or Washington, will revert in six months to the ancestral type of morals and manners; the spectacle is so common, even in the case of exceptionally assimilative men like Wu Ting-fang, or the late Marquis Tseng, that it evokes little or no comment amongst Europeans in China.

Notably from the point of view of financial honesty, which, as I have already mentioned, is of cardinal importance if the regeneration of the country is to be undertaken by other means than by mock constitutions, the results of Western education are most disappointing.

The opinion [Mr. Bland says] is widely held amongst European residents and traders that the section of Young China which has received its education in Foreign Mission schools displays no more honesty than the rest.

What is the conclusion to be drawn from these facts?  It is that not only in order to obtain adequate security for the bond-holders—­in whom I am not in any way personally interested, for I shall certainly not be one of them—­but also in the interests of the Chinese people, it is essential, before any loan is contracted, to insist on a strict supervision of the expenditure of the loan funds.  That Young China, partly on genuine patriotic grounds and also possibly in some cases on grounds which are less worthy of respect and sympathy, should resent the exercise of this supervision, is natural enough, but it can scarcely be doubted that unless it be exercised a large portion of the money advanced by European capitalists will be wasted, and that no really effective step