Agreement was only signed three days ago. The delay was cotised by the representa ives of the foreign nations concerned ging in at the last moment several new demands, which compelled the Chinese officials to halt and ask the one strong wil for further instructions.
The best-informed foreigners regard this as one of the most favourable bargains made by the Chinese; excepting the clause which contains'the Government guarantee to repay the principal and interest, This commits the Government to a heavy responsibility, but on the other hand, the fact that China has entered into this engagement is calculated to induce the interested nations to exert their influence toward the maintennuce of the present dynasty and the integrity of the empire. Whether this is likely to be for the best interests of the Chinese people is another question, and probably it is one which will not weigh very heavily on the minds of the foreigners chiefly concerned in the transaction, In any case, the construction of this important line will be another step forward, anda material aid to the development of China and the-civilisation of her people.
Text read from the printed page and cleaned; old type leaves the occasional error.