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approved revenues as its security.
It is to be further secured by deposit with Her
Majesty's Consul-General et Harkow of sterling 11-kin
yearly bonds equal in value to the total amount of
the loan, principal and interest.
The primary object of the loan was the payment
of the Viceroy's troops, who, it was represented,
would obey the orders of the provincial authorities
only so long as they were paid, and it was feared
thet, without their support, the Yang-tsze Viceroys
could not continue to be a check on the Peking Gov-
ernment, and a general rising would ensue,
The Viceroy of Hankow stated that he would re-
quire a further loan of £75,000 in about three months
from the end of August, likewise for the payment of
his troops.
The security offered is the same as that of-
fered for the first loan, and is considered adequate
by the Hong Kong and Shanghae Bank.
A German firm has offered to lend the sum. The
security is stated probably to be the Viceroy's gen-
general guarantee, with valuable mining and industrial
Concessions attached, which might be made use of for
political purposes.
A further offer of a similar amount has been
made by the Belgians on the same terns as regards in-
terest as the British loan on security of a mortgage
in
on the river frontage of Hankow, an artificial embank-
ment of more than 20 miles in length, which would,
case of default on the loan, give the Belgians a prac-
tical monopoly of the wharfage and transhipment ac-
commodation where the railway termini are to be.
Her Majesty's Consul-General at Hankow has also
reported that a French Syndicate are ready to lend
2,000,000 francs to the Viceroy at 3 per cent on the
same security as the British Loan, and ranking after
it.
Foreign Office,
November 9th, 1900.
eral
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