Legation specifically denies stage of the position adopted by the. Chinese Government to. the effect that consolidated domestic loans enjoy preferential right to use the Customs surplus funds after etvice of pre-Boxer leans, "the Boxer intemmitiey and the Root amination Loan have been' met.
"This Legation, therefore, insists that the Chinese' authorities "con cerned have no right to utilize as fecuri: y for new domestic finsneing the amount of approximately $11,000,000 annually to become Available upon the extinction the Ninth Year Domestic Loan and could only regard any such action taken by the Chinese authorities as far'hor failure to observe good faith towards the American eveditors of Chins.
"The American Legation, thersfore, emphatically protests against the issuance of the reported 525,000,000 Domestic Loan Bonds. cater,
Text read from the printed page and cleaned; old type leaves the occasional error.