question, and stating that it is their desire to
deal with the money mor or lese on the lines
of the recommendations of the Buxton Advisory
Committee, and especially to proceed with the
expenditure on railways of moneys already in
hend and due for payment in the near future with
a view to the creation of an endowment fund eventual.
eventually to be applied to educational purposes;
that it is intended in the first instance to
use the funds for the rehabilitation of
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existing lines as being more immediately
advantageous to China than new construction;
that preference will be given to those railways
in which there is a 3ritish financial interest, en
and that all orders for bridges, locomotives,
rolling-stock, rail and all other railway
equipment, purchased out of British indemnity
funds shall be placed in the United Kingãos.
The note should go on to say that the money thus
advanced by the trustees of the Indemnity Fund
will be regarded as losne to the railways in
question, bearing a fixed rate of interest which
will form the educational endowment envisaged
by/