CO129-416 - Public Offices - 1914 — Page 141

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principals were not disclosed, and Mr. 14 informed

me that, unless they were, and he was satisfied as

to their standing, he would, although authorised

by the Ministry of Finance to sign, break off

I told him that frankly I did not

consider that Mr. Milkie would be able to raise

negotiations,

money on the terms, and that I could not, in any

case, endorse an agreement of the kind without re-

ference to you. I then discussed with him, as an

alternative, the scheme of Sir henry May and myself,

pointing out the absolute necessity of foreign

supervision, but also calling attention to the fact

that it would be for the lenders 1.8. Chinese to

own

say to what extent they wished it to be exercised.

The imposition thereof would not be the same as a

demand made by foreign bondholders, it would be a

quite intelligible demand by Chinese, in their on

interests, previous domestic loans having notorious –

ly not commanded the confidence of the public. I

added that for purposes of face, however, they

would

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