Amore grievous. financial state of affairs than that now existing. in the Chinese Government Salt Administration is difficult, if not impapaible, to conceive, To realize the vast.sums of money now being illegally appropriated by militarists and politicians, it is necessary to go back some years and truce the Administration's progress since the-date of the Reorganization Loan Agreement The Reorganization Loan Agreement was signed and came into effect in May 1918, and the subse quent administration was under the advisership of Sir Richard Dane. In that year over $11,000,000 was paid into the Salt revenue accounts in the-Group banks who had advanced the chinese Government £25,000,000 om-the: security of the Salt revenue
Text read from the printed page and cleaned; old type leaves the occasional error.