CO129-451 - Public Offices - 1918 — Page 193

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[This Document is the Property of His Britannic Majesty's Government.

CHINESE LOANS AND CONCESSIONS,

CONFIDENTIAL.

[December 11.]

SECTION 5.

[234703]

No. 1.

Sir J. Jordan to Mr. Balfour. (Received December 11.)

(No. 323.) Sir,

Peking, October 15, 1917. IN his despatch No. 131 of the 19th April last, Mr. Alston reported the extension until the 14th October, 1917, of the Currency Reform and Industrial Development Agreement of 1911.

I have now received from the manager of the Hong Kong and Shanghai Bank the correspondence of which I have the honour to enclose copies, showing that the agreement. has been extended for a further six months until the 14th April, 1918.

At the same time the Board of Finance formally gave notice that if by that date the proposed second Reorganisation Loan for Currency Reform, the particulars of which have already been sent to you in Mr. Aleton's despatch No. 297, has not materialised no further extension of the 1911 agreement will be granted.

The gist of the Board's communication was forwarded to the Foreign Office in my telegram No. 468 of the 12th instant for communication to the Hong Kong and Shangbui Bank.

I have, &c.

Enclosure 1 in No. 1.

J. N. JORDAN.

Sir,

Groups Representatives to Chinese Minister of Finance.

Peking, October 9, 1917. ON the 13th April last the British and French groups' representatives had the honour to receive a letter from your Ministry agreeing to the extension of the Currency Reform and Industrial Development Loan Agreement of 1911 for a further period of six months, namely, until the 14th October, 1917.

As negotiations for a Second Reorganisation Loan to include the reform of currency caunot now he concluded before that date, we have the honour to request that the Chinese Government will grant an extension of the above agreement for a further period of six months, namely, until the 14th April, 1918.

Awaiting the favour of a reply, we have, &c.

E. G. HILLIER, Representative of the British Group. R. SAINT-PIERRE, Representative of the French Group.

Enclosure 2 in No. 1.

Chinese Minister of Finance to Groups' Representatives.

Gentlemen,

Ministry of Finance, Peking, October 11, 1917. WE beg to acknowledge the receipt of your letter of the 9th instant asking us to grant an extension of the Currency Reform and Industrial Development Loan Agreement of 1911 for a further period of six months, namely, until the 14th April, 1918, as negotiations for a Second Reorganisation Loan to include monetary reform cannot be concluded before the 14th instant. Our Ministry do now agree to a further extension of the Currency Reform and Industrial Development Loan Agreement of 1911 for six months, namely, until the 14th April, year VII of the Republic (1918). But it is also formally declared that, in the event of the Second Reorganisation Loan for monetary reform being still not concluded before the end of the present extension, namely, the 14th April, 1918, our Ministry do not desire to grant any further extension of the Currency Reform and Industrial Development Loan Agreement of 1911.

We have, &c.

LIANG CHI-CHAO.

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