!
F
- 6
459
24
and that it should be distributed between four main heads of expenditure, viz.
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(a) Agriculture 30 per cent,
(b) Scientific research and medicine 40 per cent,
(c) other educational purposes and administration
30 per cent.
The Deputation further suggests that the necessary financial arrangements should be made to raise a sum- not exceeding £5,200,000 and not less than £3,500,000 during the years 1927-31 for investment in some con- structive work in China beneficial to the people. Proceeds from such investments are to be devoted to the purposes of carrying on in perpetuity, after the complete amortisation of the China Indemnity in 1945, the educational and other work which is to be subsidised, supported or encouraged.
7.
These recommendations suggest that what the Deputation had in view was that the Chinese Government, in being invited to constitute the proposed Board of Trustees, to which body the China Indemnity is to be made over, should at least be requested, if not instructed, by His Majesty's Goverment to impose upon such Board the obligation to proceed in the spending of the money in accordance with principles determined by the Advisory Committee, these principles being in effect put forward as conditions on which His Majesty's Government might agree to hand over to the Chinese Government the Inden- nity Fund. But this was apparently not the intention of the Deputation. For referring to the percentages in accordance with which it was suggested that the annual income should be spent, the Deputation states explicitly
that
1
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