The following Committee wore: appointed to study the various pro-Posals and submit their recommenda tions therefor:
Committes on Financial Administration:—To devise means of central izing the control of finance accord. ing to the plan of demarcation of national and local taxation and disbursement, to differentiate. between national and. provincial finance organs, and to draft regula tions governing reward, punishment, fand protection of the Government's finance officials, Committee on Taxation:—To- improve or re-organize existing taxes and to institute suitable new taxco to replace injurious on Committee on National Exdpemditure:—To arrange for the quartering and employment of the disbanded soldiers, to demarcate national and rovineal taxation and dibursements, on mine the "It will be: our task during this Conference (1) to decide once for fall how to divide national and provincial receipts and: expenditure and (2) to arrive at a careful unate of the receipts of the entire country so that we may in the next few days submit the results to the Nationalist Government, which will then be able to authorise expenditure in a practical way, "This simple and yet very difficult task is the basis of future reforms Ju the financial administration of the country. With the framework [for the Budget established, number-lasa reforms which are' on. the agenda could be carried out. Without coming to a definite understanding with the military authorities to Jet taxation alone, withvat arranging with the provincial authorities to give a free hand to the Ministry of Finance in the control of nation! revenue, and finally without knowing what our actual total income all talk of unifying China is idle.
"Let us, therefore, in the first few days of our Conference, settle these basic problems first; and if we succeed we can then go on to discuss the reform of the tax system, measures to: improve cur-will have behind him the support of the bankers to. the extent that, their programme for fiscal rearm is rejected, they will have no funds for any militarists, Recently when General Chiang" Kai-shek leave to Shanghai to borrow money from the Chinese bankers for largesse to the militarists in Peking, [he was flatly tured down, which did stil more more to eng end Jeonfidence in the sincerity of the bankers,
Text read from the printed page and cleaned; old type leaves the occasional error.