The problem of the Kamchatka fisheries has been much discussed since the year before last. Many Japanese subjects are engaged in cooperation with Russians, and many others are employed by Russians, their total number amounting to severa thousands. The Japanese settlers in Chishima are also contemplating a steamer service to Petropaulovsky and will petition the Diet for aid, so that these fisheries will become still more important. Between April and November of 1900, the number of steamers and sailing vessels entering Petropaulovsky was 69.
Seoul, 19th April.
A political authority here states that the Customs reventie will not be appropriated for the French loan so long as Mr. McLeavy Brown remains in the Corean service. The following items will be given as security; 1.—Import_ of arms (principally quick-firing guns) from France.
2.—Working of various mines by the French.
3.—Supervision of the Northwestern railw:
Lease of Chinkniwan.—Mainichi.
20th Apri It is understood that the foreign Ministers to Seoul with the exception of the French and Russians will lodge a protest. against the loan affair with the Corean Gorernment. The contract with regard to the loan is reported to hear the signature of Min Hei-saki, Financial Minister, alone. The signature of Hok Sai-jun, Foreign Minister, is not attached to it The former was induced to sign it by Yi Yo-yok.
Many foreigners here are of opinion that the contract for the loan should not be allowed to stand, as it was only arranged by a few officers, and the whole Govern-
chi ment has not given ite consent.—'Saink-
21st April.
With respect to the French loan it is now known that a Cabinet meeting was called to consider the subject on the 18th inst. Twelve Ministers of State and other high officials were present. The proposal to effect the loan was carried by a majority of those present and the Ministers for Finance and Foreign Affairs signed the contract the same night. The contract was immediately delivered to the French Minister to Seoul and copies were exchanged with the representative of the Yunnan Syndicate, one party to the cor tract. The contract provides for the pa} ment of three million yen in gold bullion and two million yen in silver bullion. The bullion is to be delivered at Chemulpo. The interest is 5.5 per cent per annum and yen 475,000 (principal and interest) is tobe paid yearly, the total amount being repayable in 25 years. Should the Finance Department fail to pay the annual amount it is to be paid from the Customs revenue. The loan is to be used in developing the collieries in Pingyang and for new coinage.
Mr. Pavloff, Russian Minister to Seoul, has left for Japan to undergo medical treatment.—* Mainichi."
Tokio, 22nd April.
From official accounts regarding the French loan to Coren it is gathered that the first report of the affair was received by the Government from Mr. Hayashi on the 19th inst. Two or three reports have come to hand since. These reports go to show that the contract for the Loan was secretly drawn up by the French Minister, and Cho Pyen-jik, Premier, Mr. McLeavy Brown, Superintendent. of the Customs, and the foreign Ministers were entirely ignorant of what was going on, and had no knowledge of the negotiations until the contract was signed. The Corean Government proposes to establish a bank with a portion of the loan and to set aside the remainder for the reorganisation of the coinage system, the working of mines and the construction of railways. The Customs revenue was offered as security for the loan. The rate of interest is 5.5 per cent per annum and the principal is repayable in 25 years. On paper the loan is from a French Syndicate in Yunnan; but it is understood that the Russo-Chinese Bank will supply the funds. The total amount will not be paid in hard cash; a portion only is to be paid in gold and silver bullion., It is an established fact that Russia instigated France to open the negotiations. Russia is credited with a scheme to establish her influence in Corea. in concert with France. Great Britain and are not likely to pass the matter and it is understood that measures be taken to modify the contract, but possibly not at present.—Mainichi." Seoul, 22nd April.
The security given for the French loan is reported to include 44 mines under the control of the Imperial Household Depart ment, beside the Customs revenue as previously reported.—* Mainichi."
Tokio, 23rd Apei Mr. Kato, Minister of Foreign Affairs, has sent two dispatches to Mr. Hayashi, Minister to Seoul, giving him instructions regarding the loan affair. The true purpose of the loan affair is understood to be that Russia and France intend to take joint action to bring about the dismissal of Mr. McLeavy Brown, so that a French man may be appointed in his stead. A candidate is said to have been already selected. The Japanese Government will not interfere with any arrangement arrived at by Corea and France; but will operate with Great Britain in securing the position of Mr. McLeavy Brown. The loan contract has not been ratified by the Corean Emperor as yet and the instructions given Mr. Hayashi are understood to be that he is to recommend that the Imperial sanction be withheld or that the contract be modified. The Russo-Japanese convention about Corea clearly stipulates that each of the two Powers is to confer with the other prior to any attempt to interfere with Corean finance; but it has no bearing upon a Franco-Corean contract. If the Japanese Government proposed to Russia to protest against the contract no good would come of it, as Ruscia, is cooperating with France.—" Mainichi."
Text read from the printed page and cleaned; old type leaves the occasional error.