‘Separating the Roots of the Chrysanthemum’: Nishihara Kamezō and the Abortive China Loans, 1917-18

In the period between 1917 and 1918, a series of mysterious loans negotiated between Japanese middleman Nishihara Kamezō 西原亀三 and the government of warlord Duan Qirui 段祺瑞 amounted to the fabulous amount of ¥145,000,000. Although reporting about these loans at the time was confused to say the least,