The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-05-08
FOREIGN DEBTS OF CHINA
4 Statement Issued in the Treas
ury's Monthly Summary

q
Be Between Two Hundred and
Fifty and Three Hundred Million
DoIIars-Thc War with Japan
The difficulties attendant upon the
amount of indemnity to be paid by China
/ to the Powers make a study of the ma
tiouaI debt of that empire Of universal
! interest. This subject Is discussed in the
Monthly summary Just issued by the
/ Statistical Bureau Of the Treasury De-
! partment.
Information regarding the debt Of
! China is extremely mcagTe." says the
Monthly summary especially as TO
/ details. since no general statement of rev
enues and expenditures or of national af-
} fairs are made public. and the estimates
/ which have been formed are founded on
/ financial reports Of provincial govern
ments. published in the 'Pekin Gazette
( and Information gathered by financial es-
/ Establishments in China controlled by per
! sons representing the great financial cen
| tres of the world
Prior to the war with Japan China was
! believed to have no considerable debt In
| 1897 a German loan of 5000,093 marks. gold,
! was contracted at 51z per cent. and in
/ 1894 a silver loan of 81, $500 was raised
! at per cent. and in February 1895. a
gold loan of 6. 001.O00 both of these loans
! having as security the customs revenues.
/ while advances amounting TO about g.
! eco were also obtained from local banks
/ and foreign syndicates Internal loans
! were also obtained amounting to about
| IS. 100000
/ The war indemnity to be paid Japau.
! amounting to 156O00.G0o to which was ad-
/ ded 30,G00000 taaIs for the retrocession of
| the LeaO-Toug peninsula for the payment
| of which foreign loans were raised in 1898
| amounting to &15.S20, 90 at , per cent. and
in 1886. &16,001 900 at > per cent, most of
this being placed in England, Belgium.
and Germany, and an additional loan of
900 to pay the remainder Of the war
! indemnity to Japan was made in 1895
which was obtained from European bank
ing corporations located in Hougkoug and
Shanghai and secured by pledging the Xix
! in taxes of certain provinces, the colIec-
ton Of which was placed in charge Of
/ the inspector general Of customs.
| The 'Statesman's Yearbook for 1900
puts the total outstanding foreign debt of
China at S262- $4,000 and the Annual Cy-
| CIOpedia, issued in $3.50. puts the total
debts Of the Chinese Government at be
| tween S250, O09e 600 and $500, G1J.041, for which
the revenue Of the maritime customs is
pledged, and for part of which the Iikin
/ taxes of seven provinces are also pledged
In addition to istlis, d loan of $50 090. 900 has
/ been made for the Lu Han Railroad. to
connect PekIn with Hankow. while Sill
100000 borrowed for the Nfuchwaug Road
are guaranteed by the Imperial Treasury
( The annual interest obligations are esti-
/ mated at about 81. 915, 001-
The various Chinese loans are classi-
fed III the SUMMARY. as follows Six per
! cent golden loan Of ISsj-IsStcd. 81 600. 600:
/ outstanding, ELG00,95l Prices in official
list in 1900: Lowest s.; highest.
/ los This lean is secured upon the
customs revenue, having priority
| over any future loans. but TO
I rank Immediately after a previous loan in
/ 1885 fer *. t73,jto It Is further secured BY
! a deposit Of sterling customs bonds equal
| to the amount Of the loan, principal and
! interest such bonds 10 be available for
the payment OF customs duties at any Of
the treaty ports Il was offered by the
! Chartered Bank o. India Australia and
! China at los per cent, and IS reIieemable at
/ par by fifteen annual dra wings of equal
/ amount, commencing in 1901 Principal
/ and interest are payable IN London IL
/ sterling. Bonds payable 10 bearer in sums
/ OF eI05-
Another per cent gold loan was also
| issued IN $50, the issue being Il ggJ.0g1- OF
which there Is OutSta nding G2SDy. gJ1.
! This loan is secured upon the imperial
l maritime customs revenues and subject
! 10 ! per cent silver loan and has pri-
! ority over all future loans. charges, or
| mortgages 1t Is further secured by de
post of sterling customs bonds equal to
| the total amount of the loan principal
! and interest, and such bonds to be avail
| able for payment OF customs duties AT
/ any OF the treaty ports The loan is re-
deemable at par by fifteen annual draw
/ principal and interest payable in London
IN sterling. and in Hamburg and Amster-
dam. Bonds payable to bearer in sums OF
&LUU each Prices in official list in 1850:
Lowest. q: highest. I05
-Four per cent gold loan, 1S9J-Tssu ID
Gl5,S20, 0f3; outstanding, &147I4 al. This
loan was authorized by imperial edict in
1885 and is secured upon the revenue OF
the maritime customs, with priority over
/ all future loans. and guaranteed both
as regards principal and interest by the
Russian Imperial Government. II. Is fOI
thirty years and redeernabIe at par
BY annual drawings at ST. PeIersbuTgh
/ through sinking fund.
Seven per cent silver loan Of 1Sg4-Ts-
sued, e ,633. 90. all Of which is Outstand-
ing. Prices in official list in 1900. Lowest
g2%4 highest, I0zlz- This loan was issued IL
1881 at IS per cent. and is secured By
! hypotheCati0n Of the customs revenue
| constituted by the deposit with the Hong
/ Kong and Shanghai Banking Corporation
| authorities of the province in which the
/ treaty ports are situated and by the for
! ! eigH commissioners of customs. TIL
/ bonds are held in trust by the bank anG
Il become available at maturity for pay