It is hoped that a2 a result of the present negotiations an agreement will be reached that satisfactory to all concerned, The agreement reached regarding ithe remission of the Chinese In-
by Parliament, China is now in a Position to make rapid strides in the rehabilitation of her Railways which have suffered serious damage uring the past years of Civil warfare. The agreement provides that the funds that have already accumulated and one half of future instalments shall be transferred to the Purchasing "Committtee London for the purchase of such plant, machinery, material and Jother articles manufactured in the United Kingdom which may be re-Jquired and ordered by the Chinese JGovernment and that the funds [spent in tie United Kingdom shall be regarded as interest bearing loans from the Board of Trustees Th to the Chinese Government Railways Jor other productive enterprises and that the interest derived from such loans shall be paid to the Board of Trustees and shall ko devoted to educational purposes in. China While speaking on the subject of railways one cannot refrain from mentioning the unpaid railway debts which have been outstanding for many years and the payment of which Seems as far off as ever. In-Jasmuch as the railways of China fare Government property and much fof the material for which payment is in default is still in regular use by the railways, there would seem to be a primary duty on the part Jof the government to meet its just obligations for. material supplied before allocating sums to other nonproductive services.
The settlement of these and other debts would do much to re-est China's credit in world markets would undoubtedly assis securing such financial as she may ced for productive serices,
Text read from the printed page and cleaned; old type leaves the occasional error.