3
see Sis G. Crindle, Though.
minute of C 12714, which
1 had not read when this was written
+ 15 on 62782
(also in 77 on 62708)
feeder lines etc., at a cost of 4 million
dollars.
(4) Construction of loop-line to join
Canton-Hankow and Kowloon-Canton
Railways.
These schemes may be considered separately even if they form "one integral whole".
(1) Completion of Canton-Hankow Railway.
It is unnecessary to emphasize the interest of Hong Kong in this scheme.
We
know too that the Nanking Government regard it as of great importance for internal, political, economic and military reasons. Mr. Choy, in a conversation on the 14th July,* gave Mr. Aveling to understand that they were determined if possible to use British Boxer funds for the purpose. We have no objection to
this, so long as existing agreements are not ignored, and there is therefore, fortunately,
no reason to suggest that the line should be
"completed by means of British funds lent to
China".
As regards the estimated cost of the scheme, Mr. Choy's figures may be compared with those supplied by the Chairman of the British and Chinese Corporation Limited in his memorandum of 2nd September (17 on 62782). The latter
includes provision for financial as well as physical rehabilitation and also for payment of interest at 7% and for a sinking fund on
the assumption (for which I have not discovered justification) that the Boxer Funds would not
be actually spent but would be used as security for an international loan.
(2)
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