Page:The Truth about China and Japan - Weale - 1919.djvu/248



1.

On account of the payment of the Boxer indemnities being postponed, and the low rate of exchange of gold, the expenditure under this head for 1918 was less than usual, only amounting to $112,750,000. Out of this sum, $68,820,000 were paid for foreign loans and $43,930,000 for domestic loans. Judging from previous records, it is felt that the annual provision for this purpose will have to be increased, as the price of sterling at present is extraordinarily low, and its probable rise must be guarded against. The annual amount that will be required for meeting national indebtedness will therefore have to be increased to $120,000,000. The following tables give the list of domestic and foreign loans, including the payment of principal and interest and also the long-term foreign loans.