503
Formerly when I was in office in Hupei, I had long proposed to raise a loan for the construction of the line in that province, and had definitely discussed it with the British Consul-General and informed the Board of Foreign Affairs. The only result was that it was pigeon-holed by the Board, and the matter was shelved for the time being.
I now hear that the Board of Communications say they have received a telegraphic reply from His Excellency Ch'ên to the effect that he wishes the financial management to be left to the Board. His Excellency is constrained to this by absolute lack of funds. Assuredly he is not trying to saddle the Board with the task. I have now arranged satisfactorily with the Wai Wu Pu to sanction such a loan on the unalterable understanding that it will rest with Hupei province to make the necessary arrangements.
The Railway to be constructed in Hupei on the north side of the River Yangtze is to start from Hanyang and proceed by way of Shasi through to Ching Mên; from Ching Mên the line is to split up into two branches, one proceeding west to Ichang to join the Szechuan-Fankow, and the other going north from Ching Mên through Hsiang-Yang to Hsiang-Shui to join the Peking-Hankow, the approximate length of the two lines would be 1600 li, and the estimated cost of construction would average twenty thousand taels per li, necessitating an expenditure of about three million, two hundred thousand taels.
When I was formerly in Hupei, I made proposals to British financiers for a loan of two million pounds, which, reckoned at the present sterling rate of exchange, comes to sixteen million taels. For raising the balance, the rent-rate system which it is now proposed to introduce in Hunan should, I suggest, be employed; this would yield one million taels per annum, or a total of 5,000,000 taels in five years. All such additional levy should entitle to issue of share certificates representing...
10,0002,000,0006,000,000 ,000,000 ... ,200,000Page 504
becomes503
10,000 2,000,000 6,000,000 000 1,000,000Formerly when I was in office in Hupei, I had long proposed to raise a loan for the construction of the line in that province, and had definitely discussed it with the British Consul-General and informed the Board of Foreign Affairs. The only result was that it was pigeon-holed by the Board, and the matter was shelved for the time being.
I now hear that the Board of Communications say they have received a telegraphic reply from His Excellency Ch'ên to the effect that he wishes the financial management to be left to the Board. His Excellency is constrained to this by absolute lack of funds. Assuredly he is not trying to saddle the Board with the task. I have now arranged satisfactorily with the Wai Wu Pu to sanction such a loan on the unalterable understanding that it will rest with Hupei province to make the necessary arrangements.
The Railway to be constructed in Hupei on the north side of the River Yangtze is to start from Hanyang and proceed by way of Shasi through to Ching Mên; from Ching Mên the line is to split up into two branches, one proceeding west to Ichang to join the Szechuan-Fankow, and the other going north from Ching Mên through Hsiang-Yang to Hsiang-Shui to join the Peking-Hankow, the approximate length of the two lines would be 1600 li, and the estimated cost of construction would average twenty thousand taels per li, necessitating an expenditure of about three million, two hundred thousand taels.
When I was formerly in Hupei, I made proposals to British financiers for a loan of two million pounds, which, reckoned at the present sterling rate of exchange, comes to sixteen million taels. For raising the balance, the rent-rate system which it is now proposed to introduce in Hunan should, I suggest, be employed; this would yield one million taels per annum, or a total of 5,000,000 taels in five years. All such additional levy should entitle to issue of share certificates representing...
1,200,000 destače a og da I niPage 504