The Chinese Indemnity

Ashburton Guardian, Volume XXI, Issue 5423, 19 July 1901, Page 1

The Chinese Indemnity

Thfl Dally Telegraph, stye ;—Lord Lansdowne hardly carea to eoneeal tha view held by every responsible representative of British interests ia the Far East that the amount of fonr ban* 'ired and fifty million Jiaelg demanded, or £70,000,000 sterling, it extortionate 'tnd impolitic. But we have failed to persuade the majority of the Power* to red ace it, and the question therefore is how the bill is to be met. We Are, of coarse, opposed inflexibly to an increase of the customs duties by tea p rr cent, which would lay upon British irade the balk of tbe charge for the indemnity, while returning to the British Treasury a mere traction of the proceeds. To the separate guarantee of the amount of its own claim by each power there is tbe insuperable objection that the default of China.:would uvite the seizure, of her assets—a cat* ; in which territory might be only too probably preferred. In a joint guar-' antee British credit, which stands higher than that of any other of the Allies, would be staked for the profit of the rest. One ninth only of the whole sum demanded represents the claim of this country., ihe resolution which Sir Ernest Satow has been authorised to nrge is that Obina shall give to each Power bonds at their face value to the demand; Two thirds of the total indemnity would be issued i now, and the remaining third five yean hence.' Certain sources of Ohineae revenue would be assigned to interest and sinking fond and placed under the control of a purely receiving board, with no aggressive functions. If interference became necessary at any future time to compel Ohina to fulfil ber obligations, the concert would again . have to act as a whole.