Peking, Feb. 5.
The Minister and Vice-Minister of Finance attended the House of, Representatives this afternoon and explained the terms of the eight! per cent. loan. The issue price will be 82 with a commission of six per cent. $3,500,000 will be expended on redemption of the recent Special Treasury Debentures and the remainder for administrative ex-! penses to overtide the New Year.
In reply to questions by members, Mr. Liu En-yuan promised to give suse details as to the expenditure later.
The House went into committee to discuss the proposals but did not vote on them.
The loan will be termed the! Twelfth Year Eight Per Cent. Loan (not te Short Term Emergency; an).
Feb. 6.
The House of Representatives sat in committee this afternoon to consider the details of the Twelfth Year Emergency Loan.—Reuter. ly till February 25 and they fear) that the loan will not be passed be-; fore the lunar new year.
The House of Representatives today decided to send a Note to Mr. Liu En-yuan, the Minister of Finance, saying that, as he failed yesterday to keep his promise to give details of the expenditure of the loan, the committee of the House could not carry on the investigation,- nor vote on it. The Note warns the Government that it cannot issue any loan without the approval of Parliament during the recess.—Reuter.
Peking, Feb. 8.
The financial situation is rousing great interest among the Chinese and foreigners.
It is very unlikely that Parliament will sanction the prop loan before the New Year recess, but the Government hope to find sufficient funds from the Salt Surplus and the issue of debentures to the amount of $2,000,000 to the banks. These debentures, unlike bonds, do; not require the consent of Parliament.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.