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$'&'ARGO AMEONEK
1s Hajesty's Government were therefore opposed to making the consolidation of the unsecured debt one of the purposes to be attained by the Tariff Jonference although their own nationals were directly interested in the funding of some of these debts.
13. A further objection to the inclusion of the unse- cured debt among the subjects to be dealt with at the Tariff Conference was brought into relief by the grant in principle of Hariff autonomy. That raised at once in acute form the question of control over Customs revenues. His Majesty's Goverment viewed with grave misgiving the proposal that foreign control should be extended over additional revenues which might be enormously increased by tariff autonomy. In 1921 it was natural that the Powers should demand guarentees for the due fulfilment of the benevolent purposes which the Washington Conference aimed at achieving. But what might have been practicable in 1921 was no longer possible in 1925. It was obvious that China would not now submit to any ex- tention of foreign control either for debt consolidation or for the abolition of likin, and it seemed to His Majesty's Government that for the Powers to unite in an attempt to impose control upon an unwilling China would be entirely opposed to the spirit of the Washington treaties, and to the policy which His Majesty's Government had consistently advo- cated. At the same time His Majesty's Government felt that it was essential that the Washington promises, so long over- due, should be implemented. Accordingly on the 28th May last, in reply to an enquiry from the United States government as to the attitude of His Majesty's Government towards the Tariff Conference, they proposed in a memorandum, copy of which is annexed hereto, that the Fowers should abstain from any attempt to exact guarantees or conditions, but should forthwith euthorise the levy of the surtaxos.
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