CHINA

Nelson Evening Mail, Volume LIV, 31 October 1921, Page 5

CHINA

A CfIUAPSE IHEVi FABLE WITHOUT*FINANCIAL AID

(Published in the Times.)

PEKIN, Oct. 29. i Tim Government has reached financial bedrock, it- is besieged by foreign amt Chinese, creditors on all sifles. Fitly millions of Mexican dollars short Joans contracted a.t. twenty to thirty per cent, interest. are due to native hanks, and the salaries of minisTers are many mouths in arrears. No funds are available to pay the expenses of the delegation to Aasiiington. The Government's cheques on local banks are dishonoured and the, jrnops continually fruitlessly to demand payment.

.it is more than hinted that the Go-1 verninenl. may cease to function, andj sonq. ministers disappear lo escape the j storm. |

Tim posiiiou of ilie. native hanks m j Pekin, Tientsin, and Shanghai is pre- j carious roving to the Government.‘s in-j ahilitx to meet of,ligations, and a. crisis| seems imminent. Frantic, endeavours arc being made in raise tresii local and foreign loans at usurious interest. The financial diftieultiew, combined with the political chaos, are so serious iliaf a fundamental collapse is inevitable unless unexpected aid is forthcoming. .