SECRET
CABINET 20( 28
a
138
Extract from Conclusions of a Meeting held on Wednesday April 4th 1928, at 10.45.a.m.
THE BOXER INDEMNITY
(Previous
Reference: Cabinet 9 (28) Con- clusion 11.)
9. The Chancellor of the Exchequer asked the
Cabinet, as a matter of urgency, to reconsider their
previous decision in regard to the Boxer Indemnity,
which was to the effect that the Indemnity, including
the funds accumulated and not yet spent should not be
confiscated but should be used on condition that the
money was made available as soon as it could usefully
be devoted to its original purpose.
In the course of the discussion it transpired
that this decision was satisfactory neither to the
Chancellor of the Exchequer nor to the Secretary of
State for Foreign Affairs. From a political point of
view it was open to almost all the objections of
complete confiscation, while from the point of view of
the Exchequer the possibility of a future demand for
this money would be highly unsatisfactory
The Chancellor of the Exchequer gave some
indications of the adjustments he would have to make
in his next Budget if this sum was not forthcoming.
The Secretary of State for Foreign Affairs
pointed out that his previous objections were
strengthened by recent events. If a settlement were
reached