I will send a copy of the bond in French and Chinese as soon as it can be
obtained.
[Inclosure.—Translation.]
“We, Prince Ch’ing, Grand Secretary Li Hung-chang, and the Ministers of
Finance, deliver the present bond, according to the clauses of Article
VI of the protocol signed September 7, 1901, by the Plenipotentiaries of
the eleven powers, viz: Germany, Austria-Hungary, Belgium, Spain, the
United States of America, France, Great Britain, Italy, Japan, Holland,
and Kussia, and by the Chinese plenipotentiaries, who stipulate the
following:
By an Imperial Edict dated May 29, 1901, His Majesty the Emperor of China
agreed to pay the Powers an indemnity of 450,000,000 haikwan taels,
calculated in
[Page 340]
gold at the rate
of the haikwan tael to the gold currency of each country, as indicated
below:
| Haikwan tael equals in— |
|
| Marks |
3.055 |
| Austro-Hungary crown |
3.595 |
| Gold dollar |
.742 |
| Francs |
3.750 |
| Pound sterling |
13
|
| Yen |
1.407 |
| Florin, Netherlands |
1.796 |
| Gold ruble (17.424 dolias fine) |
1.412 |
This sum in gold shall bear interest at 4 per cent per annum, and the
capital shall be reimbursed by China in thirty-nine years, under the
conditions indicated in the plan of amortization annexed to said
protocol.
The principal and interest shall be payable in gold or at the rates of
exchange corresponding to the dates at which the different payments fall
due.
The amortization shall be paid annually.
The interest shall be paid semiannually, and shall start from the 1st of
July, 1901, but the Chinese Government shall have the right to pay off,
within a term of three years, commencing January 1, 1902, the arrears of
the first six months, finishing December 31, 1901, on condition,
however, that it pays compound interest at the rate of 4 per cent per
annum on the sums the payments of which shall have thus been
deferred.
The present bond shall be converted into fractional bonds, signed by the
delegates of the Chinese Government designated for this purpose.
The resources assigned as security for the bonds are the following:
- 1.
- The balance of the revenues of the Imperial Maritime Customs,
after payment of the interest and amortization of previous loans
secured on these revenues, plus the proceeds of the raising to 5
per cent effective of the present tariff on maritime imports,
including articles until now on the free list, but exempting
rice, cereals, and flour from abroad, gold and silver bullion,
and coin.
- 2.
- The revenues of the native customs, administered in the open
ports by the Imperial Maritime Customs.
- 3.
- The total revenues of the salt gabelle, exclusive of the
fraction previously set aside for other foreign loans.
The product of the resources assigned to the payment of the bonds shall
be remitted monthly to the commission of bankers designated by the
various powers for the collection of the sums belonging to each of
thetn.
The present bond represents the sum of 450,000,000 haikwan taels,
calculated in gold at the rate corresponding to the gold currency of
each country as indicated above.
