$15,000,000 Debentures for New Year: Nearly all Revenues Already Mortgaged Peking, Jan. 29.
It is reported on good authority that the Minister and Vice-Minister of Finance contemplate the issue of short-term debentures amounting to $15,000,000, to tide over the New Year, to be secured by the Salt Surplus. The project is being referred to the Cabinet to-morrow.
The Financial Research Commission is discussing plans for the readjustment of foreign and domestic loans.
Mr. Liu En-yuan, on his assumption of the Ministry, has sent a telegram to the Provinces, explaining the financial situation and pointing out that nearly all of the Government's revenues are mortgaged, while officials, soldiers and police are on the brink of starvation. The first measure, he says, should be re-adjustment of domestic loans and consolidation of funds, but contributions must be fortheoming to meet ordinary expenditure Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.