Enclosure 1 in Mr Fraser's General Series No 12 of 37
March, 1906.
22nd
18892 LUN (JUN 2 1906)
Extract from the Universal Gazette of 15th March, 1906.
Memorial by Viceroy of Hukuang Provinces on his action in recovering the Canton-Hankow Railway.
tracts.
After being honoured with Your Majesty's instructions to devise measures as to the Canton-Hankow Railway question, I sent several telegrams to the officials of Hunan and Kuangtung to concert a method of actually providing funds. Later I received from the Liang Kuang Viceroy on 16th January 1906 a telegram stating the discussion of this matter was possible only on the funds to redeem the line being got ready, but the Kuangtung gentry were without cohesion; the advocates of the redemption having no money and the moneyed men not caring, so that the gentry's resources could not be leaned on, while the official resources being absolutely bankrupt could even less bear such a mighty burden.
He added that as in case the contract was cancelled, vast sums would be required at once to be paid over; even if there were any other scheme of finding the money, the need was too pressing for them to avail.
He suggested the propriety of the three provinces making a joint foreign loan of so many myriads repayable in equal instalments over a series of years; if the loan went through and concession was cancelled, the proceeds would redeem the line; if the concession was not annulled, the money could be repaid at once, so that the interest wasted...