:
(This Document is the Property of His Britannic Majesty's Government.]
472
10697
AFFAIRS OF CHINA.
REC?
Real 16 JUN 11
CONFIDENTIAL.
[May 11.]
SECTION 3.
[17854]
No. 1.
Mr. Addis to Foreign Office.--(Received May 11.)
Hong Kong and Shanghai Banking Corporation,
Dear Sir Francis,
31, Lombard Street, London, May 10, 1911. THE Board of Finance has now applied to the groups for 400,0001, as a first instalment of the advance of 1,000,000% on account of Manchuria, stipulated for in article 8, paragraph 4, of the Currency Reform Loan Agreement,
The application is accompanied, in accordance with the provisions of the agree- ment, by a statement, signed by the Viceroy Chao Erh Sun, of the industrial enterprises for which the funds are required. The main headings of the expenditure have been telegraphed to us as follows:-
1. Repayment advance from official and other sources for plague prevention,
300,000/
2. Initial expenses agricultural enterprises, 30,000%.
3. Establishment industrial experimental stations, 35,0001,
4. Iron modelling works, 30,0601,
5. Cattle ranges, 5,000.
The objects of the proposed expenditure appear to be a little vague, but our representatives at Peking assure us that satisfactory details will be found in the statement itself. They recommend us to approve, and, as the expenditure appears to be unexceptionable so far as the Japanese and Russians are concerned, we are disposed, if His Majesty's Government has no objection, to give our assent. Yours truly,
C. S. ADDIS.
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