The Archive · 1914

CHINA'S FINANCES

CLOSING QUARTER'S INCOME

Peking, Dec. 14.

According to the official report of the Ministry of Finance to-the President, the total receipts of the Central Treasury from October 1 to December 1 amounted to 87,843,316, chiefly from salt revenue, title deed tax, stamp tax and customs' receipts. Hence the Central Government has been in @ position to meet its foreign obligations in addition to its administrative and military expenditure during the last two months. The shrinkage of the receipts of the Maritime Customs on account of the war is now felt and President Yuan has ordered the Ministry of Finance to lose no time in devising means to meet, the shortage as the customs revenues have. been pledged to foreign Powers.

Loan for Silk Filatures, The Government has sanctioned the loan of Tls. 600,000 jointly by the Bank of China and the Bank of Communications, each of which will pay to the Chinese silk filature association at Shanghai Tls. 100,000 per month. The loan is for an indefinite periud at 6 per cent interest to be refunded to the two banks by a special duty of Tls. 30 per picul of filatured silk at the Maritime Customs of Shanghai until the

Text read from the printed page and cleaned; old type leaves the occasional error.

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