STATEMENT REFUTED
CHINA USING LOAN
TO PURCHASE ARMS
(Received Sopteinber 17, 1 p.m.)
SHANGHAI, September 16. An emphatic denial, backed by a statement giving an accounting of expenditure up to date, was made today by Mr. 11. H. Kung, Finance Minister, in refutation of statements made at the Washington Arms (Inquiry that China had used a large proportion of the proceeds of the huge cotton and wheat loan of -20,000,000 dollars from America, for the purchase of arms and ammunition.
He stated that the proceeds had been and ; would be devoted to reconstruction work. Twelvo million dollars already had been- used on rehabilitation work in territories recaptured' from the Communists and in famine and flood relief.
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Bibliographic details
Evening Post, Issue 67, 17 September 1934, Page 9
Word Count
116STATEMENT REFUTED Evening Post, Issue 67, 17 September 1934, Page 9
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