The Loan Redemption Committee

Mr. Tung Kang's Report on the Work: The Examination of Accounts Peking, Apr. 1.

Mr. Tung Kang, Acting Minister of Justice and Chairman of the Short-Term Foreign and Domestic Loan Redemption Committee, submitted a report on the work of the Committee to the President on Thursday.

Adverting to the work of the Loan Redemption Committee, Mr. Tung deprecates his own fitness for his post as its chairman, but undertakes to carry out his duties to the best of his ability. The difficulties of the present situation should not, he says, be overlooked, but the people's belief that the Government will meet its obligations should not be disappointed.

In accordance with the regulations of the Ministry of Finance, all the officials under the Committee have been instructed to proceed with the examination of accounts without delay. An investigation of all documents relating to short-term loans in the Ministry of Finance, the Sale Administration and the various banks is also proceeding, and the officials of these institutions have been requested to interview the Committee, though they have not all done so as yet.

Work Procer inc Steaprastiy.

The public being ignorant of the facts, rumours spread more widely day by day, the memorandum remarks, and there is much criticism of the Committee's work, but its members are none the less proceeding steadfastly with their task, knowing that the eyes of both foreigners and Chinese are upon them. They are gradually putting things in order and will report from time to time on the progress made.

Mr. Tung here acknowledges further instructions from the President to carry out his duties thoroughly, and states his intention of giving the Government and pcople no cause to regret having placed this work in the hands of the present committee. When the investigation has been completed, he says, a report will be made at an early date. The manner in which the funds obtained from loans aye used in future, however, rests with the Ministry of Finance.

Text read from the printed page and cleaned; old type leaves the occasional error.