CO129-507-1 Proposal to dispose of Boxer Indemnity funds- claim by Hong Kong university 21-12-1927 - 24-7-1928 — Page 125

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elaims such as those at Kanking. It is urged that

China would by this means benefit considerably in the

saving of interest on her debts, though of course the

Boxer Indemnity Fund would stand to lose if the loan were

not ultim toly either by a debt consolidation scheme or

otherwise - repaid in full.

10. To elucidate these proposals, a more detailed

consideration of the British Indemnity figures may be

useful. Then the decision to remit the British

share for mutually beneficial purposes was taken in

the autumn of 1922, there was still outstanding a summ

of 11,186,547, out of the original British share or

£16,573,810.

11. Since December 1922, the instalments, as they

fell due, have been paid into a special suspense account

at the Hongkong and Shanghai Banking Corporation in Shang-

hai, at the rate of £34, 247 a month, until they now amount

with interest as above stated to a sum of £2,227,500 at

end of 1927.

Instalments will continue to flow in

at the rate of £34,247 a month for the next few years

with an increase to £49,706 a month during the years from

*.. 1982