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practical solution of the question he would welcome, and would not hesitate to put it in force; but there were his limitations. A $50,000, 000 issue to be redeemed, with about a half forgeries: and some $25,000,000 in cash and notes from Peking to work with: and further forgeries of the present issue easy and probable and all possible local Revenue required for current expenditure for some time to come. And he would not undertake anything which had not a fair chance of success.
He has left for Canton again today for a few days; and we have arranged to meet again on his return. He expects to be in the South for something under a month.
9th. January, 1913.
(Sd.) E. R. Hallifax,
R.G.
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