London, 10th August.
It is stated in a Blue Book that the Turkish Ambassador in London communicated ina despatch to the British Government in July, that it was the threats of the French and Russian Governments which had prevented the ratification of the Convention, Lord Salisbury says that England will occupy Egypt until she is satisfied that Ezypt can' protect herself, Our letters from Tientsin, and the communications which have been made to us, give we believe a fair idea of the new American-Chinese Bank project as it now stands. From other sources we have corroboration of the statement that the capital is to be 10 millions of taels, to start with, and the discrepancy between this sum and the amount stated by another informant—25 millions—is probably explainable by the the intention of the promoters being to commence with the sinaller amount and increase to the larger or further as soon as possible. There are rounds for believing that at the last the Viceroy Li withdrew or modified some of the terms of the arrangentent, and it is even said that the coinage which the Bank may undertake is copper cash only, and that but in a limited part of the Empire; also, that the arrangement under which the telegraphs and telephones will be handed over to the Bank has been greatly modified, and that the operations of the Bank will be confined in China to the places open to foreign trade, The foreigners connected with the Bank protest that their object is to benefit China and that there is no intention tu keep contracts for public works in the hands of Americans; protestations which have not met with general credit. While there is much that is highly objectionable in the arrangement come to in Tientsin, as fants terms have been ascertained, and that could not fail to injure China, there is 20
Text read from the printed page and cleaned; old type leaves the occasional error.