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the execution of the regular agreement on the 6th would depend on the payment of this instalment.

Any further change would render recovery impossible and so he prayed that remittance be telegraphed. Now the idea of the Company was that China being in their opinion very poor could never within ten days suddenly find the vast sum of several millions.

So their head shareholders after signing the draft agreement contrived to spin out three months without confirming it, keeping the completion of the matter uncertain so as to prevent arrangements for providing the money or borrowing it. And then 7 days before due date they telegraphed to China to confirm, execute and pay the instalment.

If money could not be got together then this agreement was utterly upset and they could trust us with having no money and making fools of ourselves.

This plot was the most cunning and deadly conceivable.

At the time the English consul had already gone to Ju-shan to avoid the heat. I foresaw that negotiating in straits I should be sure to meet with extreme demands.

Besides the drawing of the agreement itself would need over 20 days and if the sum payable to the Development Company was too late by a single day the whole situation would be wrecked.

At this moment I was unable to ask for time and equally unable to ally for aid abroad to other provinces.

Here was a great undertaking affecting the position of the whole of south China, an important measure ordered by special Rescript which for two years had been discussed until

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