Peking, Dec, 8.
The Finance Minister has secured the funds necessary to tide over the New Year.
It is stated officially that public opinion regarding the terms put forward by the Consortium is full of grave doubt, and opposed to foreign borrowing. The Chinese banks at various places have, therefore, form. ed their own group by an arrangement effected at Shanghaj on the 5th instant. It is asserted that a large sum is available for investment in industrial enterprises,, with the stipulations that the money is to be used as specified, and that the security shall be solid.
The Government has agreed that the banks shall supervise the dis position of the funds, and to publish full detaile of all enterprises thus financed. The Government also declares that Provincial self-government will be enforced during 1921. after which the central and provincial financial administrations will be kept separate.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.