Minister Rockhill
to the Secretary of State.
American Legation,
Peking, December 27,
1905.
No. 181.]
Sir: In further reference to the proposal made
by the Waiwu Pu for the settlement of the question of the conversion
into gold at the rate of exchange of June 30, 1905, of the amounts paid
in silver during the first six months of the current year by the Chinese
Government on account of the indemnity, and of an adjustment of the
rates of exchange fixed by the bankers’ commission at Shanghai and the
taot’ai who makes the payments on account of the indemnity (see my No.
134 of October 27, 1905), I have now the honor to inclose copy of an
identic note handed me and to the other diplomatic representatives of
the powers which signed the final protocol of September 7, 1901, by the
Prince of Ch’ing on the 23d instant, together with copy of the
collective note we handed him accepting the proposals made by his
board.
[Page 159]
With this matter disposed of, the negotiations concerning the mode of
payment of the indemnity of 1900 are now, it would seem, terminated, and
China has fairly successfully defended her interests.
I have, etc.,
[Inclosure
1.—Translation.]
Prince of Ch’ing to
Baron von Mumm.
Peking, December 23,
1905.
As to the matter of the payment of the indemnity, notes were
exchanged between the various ministers in Peking representative of
the powers and the Chinese Government on the 30th of the fifth moon
of the present year (July 2, 1905), by which a satisfactory
arrangement was agreed to, as the records will show. But the matter
of the amounts of the payments made during the first half of the
present year, as reduced to gold at the rate of June 30, 1905, and
that of the nonagreement of the rate of exchange into gold, used by
the bankers’ commission, and the rate of the Hongkong and Shanghai
Banking Corporation, it was by general agreement decided to leave
for settlement later. That is to say, according to the rate of
exchange into gold for the 30th of June, 1905, as fixed by the
bankers’ commission 1 tael Shanghai Sycee was equal to 2 shillings
7.125 pence, but according to the rate of the Hongkong and Shanghai
Banking Corporation 1 tael was equal to 2 shillings 7.75 pence.
According to the difference between these two rates the error in
reckoning the total amount paid the powers is equal to 186,792.95
protocol haikwan taels. As the Chinese Government desires to settle
the matter justly, if the powers concerned will agree to forego
one-half of this sum, China on her part will agree to bear the loss
of the other half.
According to the arrangement entered into on the 2d of July this
year, China is required to divide into twelve parts the total amount
due each year for amortization and interest and pay one part each
month, but this arrangement will go into effect only at the
beginning of next year. For the present year, according to Article
VI of the protocol of 1901, China has to pay interest only in the
first half of the year, and the payments on the principal due for
the year have to be paid only in the latter half of the year.
Therefore, if on reckoning the amounts paid during the first half of
the year, it appears that China has paid in excess of the amount
due, according to the new arrangement with regard to payments made
in advance, she should be allowed a discount equal to interest at 4
per cent on such excess for the six months from June 30 to December
31, and I have to request each of the ministers residing in Peking
representative of the powers concerned to inform me of the amount in
the gold currency of his own country received on June 30 by his
country in excess of the amount due it, so that I may notify the
Shanghai taot’ai to take action accordingly. This is the proposition
of my board, and, as in duty bound, I send this dispatch to request
the various ministers concerned to give it their consideration, and
I beg that they will inform me at an early date of the willingness
or otherwise of their governments to accept this proposition.
A necessary dispatch.
Kuanghsü XXXI year, 11th moon, 27th
day.
[Inclosure
2.—Translation.]
Baron von Mumm
et al. to the Prince of
Ch’ing.
Peking, December 23,
1905.
Your Highness: We have the honor to
acknowledge the receipt of the letter which your imperial highness
was pleased to send us under date of Deceember 23, 1905, and in
which it was stated:
“As to the matter of the payment of the indemnity * * * to accept
this proposition.” (See inclosure 1.)
We have submitted this proposal to our respective governments which,
having examined it in a conciliatory spirit, have given it their
approval.
Consequently we have the honor to inform your imperial highness that
we accept the proposal made in your note above cited and we
acknowledge a balance due China at the date of June 30, 1905, of
268,484.86 protocol taels, being made up of 175,088.39 protocol
taels overpaid by China during the first six months of the present
year, according to calculation made by the bankers, plus 837.65
protocol taels, which amount the Chinese Government still owed
[Page 160]
the United States of
America on the 30th of June, according to the same calculation, and
of one-half of the above-mentioned difference, that is to say,
92,558.82 protocol taels. To this sum of 268,484.86 protocol taels
should be added interest at the rate of 4 per cent a year from June
30 to December 31. The total of this balance plus the interest, to
wit, 273,854.53 protocol taels, may be substracted by the taot’ai of
Shanghai from the payment of December 31, and instructions in
accordance will be given by me to the commission of bankers at
Shanghai.
Your highness will find annexed hereto a list of the balances of the
various powers on the 30th of last June, which have been fixed on
the basis of the proposal accepted by our governments.
- A. v. Mumm.
- A. Rosthorn.
- E. de Prelle,
- E. de Carcer.
- W. W. Rockhill.
- M. Dubail.
- Ernest Satow.
- C. Baroll.
- Y. Uchida.
- A. J. Citters.
- D. Pokotilow.
[Subinclosure.]
List of balances.
|
Balance on June 30 in foreign currencies. |
Interest. |
Amount to be credited to China on December 31, in foreign
currencies. |
The same amounts in
protocol taels. |
| Germany |
marks |
152,234.06 |
3,044.68 |
155,278.74 |
50,827.73 |
| Austria-Hungary |
crowns |
7,190.90 |
143.82 |
7,334.72 |
2,040.25 |
| Belgium |
francs |
18,270.84 |
365.41 |
18,636.25 |
4,969.66 |
| Spain |
do |
291.39 |
5.82 |
297.21 |
79.25 |
| France |
do |
152,635.13 |
3,052.70 |
155,687.83 |
41,516.75 |
| United States |
dollars, gold |
3,618.86 |
72.37 |
3,691.23 |
4,974.71 |
| Great Britain |
|
£3,639.17s. |
£72,15s.11d. |
£3,71212s.11d. |
24,750.97 |
| Portugal |
|
£6,12s.6d. |
2s.8d. |
£6,15s.2d. |
45.05 |
| Italy |
francs |
57,319,26 |
1,146,38 |
58,465,64 |
15,590,33 |
| Japan |
yen |
70,302,15 |
1,406,04 |
71,708,19 |
50,965,31 |
| Netherlands |
florins |
908,05 |
18,16 |
926,21 |
515,71 |
| International claims |
|
£10,15s.3d. |
4s.4d. |
£10,19s.7d. |
73,19 |
| Russia |
roubles |
107,248.84 |
2,144.98 |
109,393.82 |
77,474.38 |
| Sweden and Norway |
|
£4,10s.4d. |
1s.10d. |
£4,12s.2d. |
30.72 |
| Grand total |
|
|
|
|
273,854.53
[sic] |
