The following is a translation of the memorial in reference to foreign provincial loans, which was submitted to the Throne by the Natiooal Assembly and was handed over to the Ministry of Foreign Affairs and the Ministry of Finance for consideration and report Since the opening of the session we have received much correspondence from provincial assemblies appealing to us for decision mostly on matters relatiog to public loans and taxes which have not been referred to them for dis cussion and decision by the Viceroys and Governors.
Among these complaints was one from the Kiangsa Assembly, which is of the greatest consequence; more important than all the rest. It accuses Chang Jen-chia, the Viceroy of the two Kiang of somtechont on ite rights and inf t of the law, by contracting foreign leone several times without referring them to it for discussion, The first occasion was in Joly thia year, when three banks, Chen Yoan and two others, failed, owing enormous sums of money to Chinese and toga merchants. The Viceroy temorialied the Throne, aad obtained Imperial sanction for " foreign loan of three and a half million Tale (Tls. 3,500,000) for repayment to foreign firms of the debts for and on behalf of the bankrupt merchants. Soon after, the Viceroy was questioned by the Provincial Assembly, but he only shifted his fault to subordinate officials.
And, moreover, he neglected to devise methods of precaution and safeguards We find that the existing Treaties between China and the Powers all contain words stipulating that if Chinese fail, owing money to foreigners, the officials can only press them for, bat cannot guarantee, its repayment. As the Viceroy is the Commissioner of Southern Trade, he should not be so ignorant of the treaties as to address a|demands made upon them. We fear
Text read from the printed page and cleaned; old type leaves the occasional error.