Strong*Protest by Bankers Association against Failure to Meet Obligations Peking, Mar. 6.
Representatives of the Peking Bankers' Association called on the Ministry of Finance yesterday afternoon to discuss the situation and handed in a memorandum state ing that internal loans exceed 600,000,000 but there are always delays and shortages in the pay ment of interest and in the reception of capital. Recently the loans have been consolidated and the interest reduced and redemption. postponed. The people have up to the present not lodged 2 protest.
According to the $96,000,000 Loan agreement, the memorandum states, the surplus from the railways and the Salt Surplus were assigned 10 the foundation funds but these have been continually appropriated for other uses. -Thus the service of the loan cannot be met when due.
It was hoped that additional funds from the Customs surplus could be used this year but the Government has decided to appropriate these also for administrative purposes. There is no money to redeem the first instalment of the principal or the second instalment of the interest on this loan. Treasury Notes have also remained unpaid, 2 As regards foreign unsecure] loans, the memorandum continues, these total $200,000,000, and no interest or part of the principal can be paid. The Four Power Note of December 93 is. still unanswered.
The Government is thus not protecting the property of the people and is destroying China's credit abroad. Therefore, the memoraadum declares in conclusion, the people thereafter will not give the Government their support.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.