The Archive · 1920

The Five Million Pound Folly

Feb. 13.

Peking, Feb. 6.—The following memorandum was sent to the Wai; chiaopu yesterday In order to meet the urgent quirements of the Chinese Government the representatives of Great Britain, France, America and Japan would be prepared to cause the issue by the group banks of their four countries of a loan of about £5,000,000.

Peking, Feb. 10.—At a meeting of the "British, American, French and Japanese Ministers this morning it was decided to ask the Chinese Government to adhere more closely to the phraseology of the Consortium loan conditions, as the Chinese reply accepted supervision of expenditure but did not definitely accept supervision of disband= ment of unnecessary troops. As the Ministers have asked the banks to take the advance of $7,000,000 which China asks for, it is Believed that this point is being conceded.—Reuter.

"The North and South Governments are aggregates of corrupt, traitorous officials and militarists whose actions are entirely contrary to the people's will... Zhis loan Gf true) is the same as giving robbers weapons to kill the people land rob their property.—NATIONAL Orcanizations Union or Cutna.

"The Powers are making this loan because they fear mutiny of the Northern troops. Against. who ni will the troops mutiny? If they will mutiny against the Tuchuns and Generals who have robbed our country, let these militarists be "deprived of their stolen property and pay the troops.

"We have boycotted Japan not only because of Shantung but because Japan has destroyed our integrity, has bribed our officials, has made loans to the militarists has been in constant turmoil. of the North, so that the country earnestly seek the friendship United States, Great Britain, and France, and therefore we warn these nations, do not follow in the footsteps of Japan. We want your friendship. But we love our country more, and we demand that this Joan shall not be made.—SwancHar

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

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