CHAOS IN CHINA
GOVERNMENT BANKRUPT. VERY SERIOUS STATE REVEALED (Per Press Association, Copyright.) (Received October 31, 9.40 a.m.) ("Times.") PEKIN, October 29. The Government has reached financial bedrock. It is besieged by foreign and Chinese creditors on all sides. Fifty millions of Mexican dollars, short loans contracted 3 at 20 to 30 per cent, interest are due to native banks and. the salaries of Ministers are many months m arrears. No funds are available to pay the expenses of the delegation to Washington. The Government's chequeson local banks were dishonoured. Troops are continually and fruitlessly demanding payment and it is more than hinted that the Government may cease to function, and some Ministers disappear to escape the storm. The position of the I native banks m Pekin, Tientsin, and Shanghai are precarious owing to the Government's inability to meet its obligations. A crisis seems imminent. Frantic endeavours are being made to raise fresh local and foreign -loans at .usurious interest. The financial difficulties combined with political chaos are so serious that a fundamental collapse is inevitable, unless unexpected aid is forthcoming.
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Ashburton Guardian, Volume XLII, Issue 9373, 31 October 1921, Page 5
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181CHAOS IN CHINA Ashburton Guardian, Volume XLII, Issue 9373, 31 October 1921, Page 5
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