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sion justified me in asking for any of your Excellency's time. I have, however, to-day received a telegram from our London office, and certain assurances from my Chinese friends, the result of which is that I am led to think a large business may be done in the near future.
The Chinese Government wish to float their loans on better terms than they have obtained hitherto, and more particularly they wish to test whether it is possible to raise money without pledging their revenues. In this connection I have been able, through arrangements made in London in December 1907, to make the Government a proposal which they appear to be inclined to regard with favour.
The nature of the proposal is that the Chinese Government should issue Treasury bills redeemable after three years for convenient amounts, and during the course of these three years they should watch the European money markets closely for a chance of floating a long period loan on good terms.
The head of the Syndicate in London is Sir Westby Perceval, K.C.M.G., permanent Chairman of Directors of the Union Bank of Australia and Managing Director of the Anglo-Japanese Bank, and he has formed a Syndicate of capitalists who are prepared to take up at once 4,000,000l. of Chinese Imperial Government Treasury bills bearing interest at the rate of 5 per cent. per annum.
If your Excellency should desire further particulars, I shall be glad to be at your service at any time which may be convenient to you.
I have, &c.
(Signed) J. K. TWEED.
[October 3.]
SECTION 2.
Race
27 OCT 08
AFFAIRS OF CHINA.
CONFIDENTIAL.
[34148]
No. 1.
Sir J. Jordan to Sir Edward Grey.—(Received October 3.)
(No. 372.) Sir,
Peking, August 19, 1908. IN my despatch No. 320 of the 20th ultimo I reported that the Diplomatic Body had approved the Regulations drawn up by the Chinese authorities to govern the procedure at Tien-tsin of the Shen Pan Ting, the Chinese District Court for the decision of civil cases in which foreigners are plaintiffs.
This decision was not, however, communicated to the dean of the Consular Body at Tien-tsin by the dean of the Diplomatic Body here, as M. van Citters heard that objections to the proceedings of this Court were on the point of being formulated. It was therefore held back, and I now have the honour to transmit to you copy of a despatch from His Majesty's Consul-General at Tien-tsin recording the opinion of the Consular Body that the procedure of the Shen Pan Ting is not such as to inspire confidence, and that until a better state of affairs prevails a formal approval of its Regulations by the foreign Representatives should be deferred.
The matter will no doubt come up again for discussion at a meeting of the Diplomatic Body, and I shall not fail to report any decision which may be arrived at.
I have, &c. (Signed) J. N. JORDAN,
(No. 42.) Sir,
Inclosure 1 in No. 1.
Acting Consul-General Ker to Sir J. Jordan.
Tien-tsin, August 13, 1908. IN accordance with standing instructions and with reference to my despatch No. 32 of the 25th June last on the subject of the Shen Pan Ting, or local Court, I have the honour to forward herewith copy of a despatch which has been addressed by the American Consul-General as senior Consul to the doyen of the Diplomatic Body, communicating the opinion of the Consular Body that the formal recognition of the Regulations of this Court should be deferred for the present, and inclosing copy of a Memorandum by the Consul for France, at whose suggestion this action was taken.
I have, &c. (Signed)
W. P. KER.
Sir,
Inclosure 2 in No. 1.
Mr. Williams to M. van Citters.
Tien-tsin, August 11, 1908.
I HAVE the honour to inform you that at a meeting of the Consular Body of this port held on the 10th instant I was directed to communicate to your Excellency the opinion of that body in regard to the Shen Pan Ting or District Court of Tien-tsin as follows:-
1. Complaints having been made to some of the Consuls by their nationals that foreign plaintiffs have been treated discourteously in the said Court, and the character of the Court in other respects not being such as to inspire confidence, it is the opinion of the Consular Body that no formal approval should be given at this time to the proposed jurisdiction of this Court in mixed cases.
2. That, if the Diplomatic Corps should approve of the Regulations of the Shen Pan Ting regarding procedure in mixed cases, with the amendments proposed by the Consular Body, the Consular Body will not at once communicate to the Taotai the approval...
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sion justified me in asking for any of your Excellency's time. I have, however, to-day received a telegram from our London office, and certain assurances from my Chinese friends, the result of which is that I am led to think a large business may be done in the near future.
The Chinese Government wish to float their loans on better terms than they have obtained hitherto, and more particularly they wish to test whether it is possible to raise money without pledging their revenues. In this connection I have been able, through arrangements made in London in December 1907, to make the Government a proposal which they appear to be inclined to regard with favour.
The nature of the proposal is that the Chinese Government should issue Treasury bills redeemable after three years for convenient amounts, and during the course of these three years they should watch the European money markets closely for a chance of floating a long period loan on good terms.
The head of the Syndicate in London is Sir Westby Perceval, K.C.M.G., permanent Chairman of Directors of the Union Bank of Australia and Managing Director of the Anglo-Japanese Bank, and he has formed a Syndicate of capitalists who are prepared to take up at once 4,000,0007, of Chinesc Imperial Government Treasury bills bearing interest at the rate of 5 per cent. per annum.
If your Excelleney should desire further particulars, I shall be glad to be at your service at any time which may be convenient to you.
I have, &c.
(Signed) J. K. TWEED.
[October 3.]
SECTION 2.
Race
27 OCT 08
AFFAIRS OF CHINA.
CONFIDENTIAL.
[34148]
No. 1.
Sir J. Jordan to Sir Edward Grey.—(Received October 3.)
(No. 372.) Sir,
Peking, August 19, 1908. IN my despatch No. 320 of the 20th ultimo I reported that the Diplomatic Body had approved the Regulatious drawn up by the Chinese authorities to govern the procedure at Tien-tsin of the Shen Pan Ting, the Chinese District Court for the decision of civil cases in which foreigners are plaintiffs.
This decision was not, however, communicated to the dean of the Consular Body at Tien-tsin by the dean of the Diplomatic Body here, as M, van Citters heard that objections to the proceedings of this Court were on the point of being formulated. It was therefore held back, and I now have the honour to transmit to you copy of a despatch from His Majesty's Consul-General at Tien-tsin recording the opinion of the Consular Body that the procedure of the Shen Pan Ting is not such as to inspire confidence, and that until a better state of affairs prevails a formal approval of its Regulations by the foreign Representatives should be deferred.
The matter will no doubt come up again for discussion at a meeting of the Diplomatic Body, and I shall not fail to report any decision which may be arrived at.
I have, &c. (Signed) J. N. JORDAN,
(No. 42.) Sir,
Inclosure 1 in No. 1.
Acting Consul-General Ker to Sir J. Jordan.
Tien-tsin, August 13, 1908. IN accordance with standing instructions and with reference to my despatch No. 32 of the 25th June last on the subject of the Shen Pan Ting, or local Court, I have the honour to forward herewith copy of a despatch which has been addressed by the Americm Consul-General as senior Consul to the doyen of the Diplomatic Body, communicating the opinion of the Consular Body that the formal recognition of the Regulations of this Court should be deferred for the present, and inclosing copy of a Memorandum by the Consul for France, at whose suggestion this action was taken.
I have, &e. (Signed)
W. P. KER.
Sir,
Inclosure 2 in No. 1.
Mr. Williams to M. van Citters.
Tien-tsin, August 11, 1908.
I HAVE the honour to inform you that at a meeting of the Consular Body of this port held on the 10th instant I was directed to communicate to your Excellency the opinion of that body in regard to the Shen Pau Ting or District Court of Tien-tsin as follows:-
1. Complaints having been made to some of the Consuls by their nationals that foreign plaintiffs have been treated discourteously in the said Court, and the character of the Court in other respects not being such as to inspire confidence, it is the opinion of the Consular Body that no formal approval should be given at this time to the proposed jurisdiction of this Court in mixed cases.
2. That, if the Diplomatic Corps should approve of the Regulations of the Shen Pan Ting regarding procedure in mixed cases, with the amendments proposed by the Consular Body, the Consular Body will not at once communicate to the Taotai the
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