Statement Refuted
CHINA NOT USING .LOAN TO PURCHASE ARMS United Press Association —By Electric Telegraph.—Copyright. SHANGHAI, Sept. 16. An emphatic denial, backed by a statement giving an accounting of expenditure up to date, was made to-day by Mr. H. 11, 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. Twelve million dollars already had beeii used on rehabilitation work in territories recaptured from the Communists and in famine and flood relief.
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Bibliographic details
Manawatu Times, Volume 59, Issue 218, 18 September 1934, Page 7
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118Statement Refuted Manawatu Times, Volume 59, Issue 218, 18 September 1934, Page 7
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