CHINA
671
Imperial authority, and secured by the Customs revenue. Up to 1894 the total foreign debt of China was inconsiderable, but subsequently extensive borrowings had to be made to meet the expenses of the war with Japan and the indemnity, which was Taels 200,000,000 (at exchange of 3s. 31d.), with a further Tls. 20,000,000, for the retrocession of the Liaotung Peninsula. The last instalment was paid in 1898, and the total indebtedness of the country up to 1900 was £55,755,000, the principal loans being the Russian of 1895, the Anglo-German of 1896, and the Anglo-German of 1898, each of £16,000,000. The country's obligations in 1901 were increased by a sum of Tls. 450,000,000, the amount of the indemnity paid to the Powers to meet (1) the expenses of the Expeditionary Forces, and (2) claims for compensation for losses to missions, corporations, individuals, etc. Several Loans were subsequently obtained, chiefly for railway construction, and, as a result of the Revolution, China's indebtedness was increased by an international loan of £25,000,000. It is estimated that China's foreign debts outstanding amount to £200,000,000.
The foreign debt secured on Imperial revenue outstanding December 31, 1914, įs shown in the following table:-
Principal
No.
Nature of Loan,
Rate of Interest.
Amount
Original Outstanding
Dec. 1, 1914.
1
2
CC
3
"Russian Loan" of 1895 (French Group)
"Cassell Loan" of Apr. 1895 (Chartered Bank)...
Arnhold, Karberg Nanking Loan," 1895 (Three German Banks)
6% £1,000,000 £ 70,702
1,000,000
4 %
15,820,000
70,702 10,588,252
4 Gold Loan of 1896 (H'kong., S'hai. & German Banks) 5 Gold Loan of 1898 (H'kong., S'hai. & German Banks) 6 Imperial Railways of N. China Loan, 1899 (Hong-
kong & Shanghai Bank)
5%
16,000,000
11,685,925
44%
16,000,000
13,382,000
5 %
2,300,000
1,725,000
7 Shansi Railway Loan, 1902 (Russo-Chinese Bank)... sa Kaifeng-Honan (Pien-Lo) K3ly. Loan, 1903 (Belgian) 8a 2nd issue of same, 1907 (Belgian)
9 Shanghai-Nanking Railway Loan, 1903 (H. & S. Bank) 10 Gold Loan, 1905 (H'kong., S'hai. & German Banks) 11 Hankow Canton Railway Redemption Loan, 1905
(Hongkong Government)
12 Honan Railway (Pekin Syndicate) Loan of 1905 13 Canton-Kowloon Railway Loan, 1907 (H. & S. Bank) 14 Tientsin-Pukow Railway Loan, 1908 (Hongkong,
& Shanghai and German Banks)
15 Shanghai-Hangchow-Ningpo Railway Loan, 1908
(Hongkong & Shanghai Bank)...
16 Gold Loan of 1908(Peking-Hankow Railway Redemp- tion) (Hongkong & Shanghai and French Banks). 17 Kirin-Changchun Railway Loan, 1909 (Y. 2,150,000) 18 Hsinmintun-Mukden Railway Loan, 1909 (Y.320,000) 19 "Birchal" Peking-Hankow Railway Redemption Loan, 1910 (London City & Midland Bank for Dunn, Fischer & Co.)..
19a 2nd issue of same, 1914
1,600,000
1,600,000
"}
1,000,000
""
1,000,000
€ 40,000
37
"
3,250,000
640,000 2,900,000
1,000,000
50,000
**
40%
1,000,000
440,000
5 %
700,000
700,000
""
1,500,000
1,500,000
5,00,000
*
5,000,000
1,500,0 0
1,500,000
"
5,000,000
5,000,000
220,599
220,594
32,834
29,185
"
7%
450,000
450,000
A
216,000
216,000
20 Tientsin-Pukow Railway Supplement Loan, 1910
(Hongkong & Shanghai Bank)......
5 %
3,000,000
3,000,000
21 Yokohama Specie Bank, Railway Supplementary
Loan, 1910 (Y. 10,000,000)
1,026,000
1,026,000
22 Hukuang Railways Loan, 1911 (German, British,
French and American)
""
23 "Crisp" Loan, British, 1912 (prior charge on Salt
Revenue)
6,000,000
6,000,000
""
5,000, con
5,000,000
"
24 Belgian Loan, 1913 (French-Belgian, for construc-
tion of Haichow-Lanchow Railway)
"
4,000,00
4,000,000
25 Austro-German Gunboat Loan, 1913... 26 Quintuple Reorganisation Loan, 1913 (later charge on Salt Revenue), English, French, German Japanese and Russian
6%
3,200,000
3,200,000
5%
25,000,000
55,000,000
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