The service of the foreign loans and the Boxer Indemnity—obligations ecuted on the Customs reventie was met in full during the year in spite. of the fact that again no quota was made available to the Chinese Government from the Manchurian ports or from Dairen. 'The cost of this service amounted to G.U. 28,516,040 plus $13,259,584; or, if calculated entirely' on. a silver basis, $60,400,988, as ayainst $75,414,347 for 1994. Tt will noted that the continued depiceia~ tion of sterling and. United Slates dollars as compared with their former wold parities, together with the abnormally high price of silver which ruled throughout the year, enabled the Chinese Government to effect a fur thor saving of $9,013,359 over 1034 in the purchase of pounds sterling and US, dollars, in which currencies these obligations are duc.
The service of the domestic loans secured on the surplus of the Customs Fevenue vas also met in full: during the year, by the provision of (1) the monthly quota of $8,600,000 for the service of the Internal loans under the reorganization scheme of February 1032; (2) approximately $948,750 a month required for amortization and Interest payments of the 2nd Year (1933), Customs Revenue Treasury Note Issue of $100,000,000; (3) approximately $1,003,125 a month required for amortization and interest payments on the 23rd Year (2934) Customs Revenue Treasury Note Tesue of $100,000,000 (now reduced to $50,000,000, vide infra); and (4) approximately $415,410 a month required for amortization and Interest payments on the 23rd Year Customs Revenue Loan of §100,000,000, issued in June 1035.
As regards this last 23rd Year Customs Revenue Loan, sinking fund payments are obtained front the funds released consequent upon the Uirement and destruction of half of the notes of the 2rd Year Customs Revenue Treasury Note Issue Sie, from one-half of the funds originally allocated for the service of that issue; and, a to any additional amounts required, from the Customs revenue surplus after meeting all prior charges. In addition, /were provided from Customs reventie using the year st a total coe of fon the flood relief surtax—viz,, the American Wheat and Flour Loan of 1931 and the American Cotton and 'Wheat Loan of 1933—were met in full during the year from the proceeds of the flood relief surtax collection. Payments made on account of these loans amounted, in the case of the former, US. "$3,316,796, costing Chinese $8,968,631, "and, in' the case of "the 10° US. $1,341,782, costing Chinese '$3,700,363.
Text read from the printed page and cleaned; old type leaves the occasional error.