An order issued on August 31 by the Ministry of Communications, addressed to the various railway directors, for the purpose of developing interest in the accounting departments of the railways and verifying their receipts and expenditures. It was to the following effect "Most of the railways of China have been constructed by foreign loans and the expenditures and receipts are naturally enoruious. In order to establish " confidence along this branch of development, it is necessary that the accounts be strictly watched. During the eight years of the Republic of China, the investment in railways is estimated at approximately 420,000,000, up to the end of the 8th year; the receipts are estimated at approximately $83,000,000, and the expenditures at appro mately $38,000,000. Considering that the amount of expenditure is so enornious, any discrepancy or any error in the accounting departments would reflect on the bookkeeping system, "In view of the importance of this line of work, the present Minister. who was Director of the Bureau of Railways in the 2nd year of the Republic of China, organized a railway commission, and Chinese and foreign accountants and experts were employed in that commission, with the. object of adopting systems as were then existing in Europe and America. for the purpose of unifying the accounting in all the railways in the country. In June of the 4th year of the Republic the first report was issued and published for the information of both the Chinese and foreign public. The re sults at that time were highly satisfactory to both Chinese and foreigners. Many years have since passed and it is felt that the accounting systems installed at that time may not be kept up to date.
"Tt is hereby ordered that all railway directors, chiefs of departments and other employees observe the rules and regulations with respect to economy in the administration of the accounts, and that all receipts and expenditures be accounted for strictly so as to preserve China's credit both at home and abroad."
Text read from the printed page and cleaned; old type leaves the occasional error.