Announcing the agreement, Mr. Butler said: His Majesty's Government welcome conclusion of this agreement, in confidence that it will facilitate removal of at least some of the disabilities under which British and other Third Power nationals and their trading and shipping interests have been suffering in China, and that it will also be a manifestation of the possibility of solving mutual difficulties between our country and Japar. by patient negotiation."
As a result of the agreement, barricades around the British and French Concessions at Tientsin are being removed.
About one-tenth of the total amount of silver deposited in Chinese banks shall be used for the humanitarian purpose of relieving distress among the famine-stricken population of North China, while the balance shall remain under seal in the banks until its ultimate disposal is decided later.
"This settlement of the problem," Mr. Butler stated, "has received the assent of the Chinese Government, "Circulation of Chinese national currency will continue within the British municipal area, Federal Reserve Bank notes have, however, for some time past, circulated side by side with the national currency. This existing state of affairs has been recognized in the agreement.
Text read from the printed page and cleaned; old type leaves the occasional error.