5. Captain FABERasked whether the surplus revenues from the Salt Gabelle, assigned as security for the Crisp Loan of £10,000,000, are the identical revenues required by the six-Power group as the security under European supervision for a loan up to £60,000,000?
§ Sir E. GREYFor the reasons stated in reply to the hon. Member for Glasgow on the 14th instant, His Majesty's Govern- 1390 ment are not at present in a position to disclose details of the conditions put forward by the six-Power group.
§ 7. Sir FREDERICK CAWLEYasked whether the Hong Kong and Shanghai Banking Corporation was one of the British representatives of the six-Power group; and whether he is satisfied that this corporation is a purely British one representing British capital and British interest?
§ Sir E. GREYThe answer to the first part of the question is in the affirmative. The head office of the bank is at Hong Kong. The management and staff are purely British throughout—but I am aware that there is a minority of foreign directors who are resident in the Colony, representing firms the greater portion of whose capital is engaged in British trade. We understand that the capital is British with the exception of a very small number of shares which are held abroad.
§ 9. Mr. GINNELLasked the Secretary of State for Foreign Affairs if he will place in the Library, or make available to Members in some way, the English text of the terms sought to be imposed upon China by the six-Power group of financiers; and whether there is anything in those terms, or in the relations between the constituents of that group, calculated to restrict China in the development of any part or parts of Chinese territory?
§ Sir. E. GREYThe reasons which preclude His Majesty's Government from disclosing at present the terms put forward by the six-Power group were explained in reply to the hon. Member for Glasgow College on the 14th instant. The answer to the second part of the question is in the negative.
§ Mr. GINNELLCan the right hon. Gentleman account for the fact that, notwithstanding the very special support given to the six-Power group by the British Foreign Office, that group is still unable to make progress?
§ Sir E. GREYI can only refer to the answers I have previously given as to the reason why support was given to the six-Power group. The reason why no loan was concluded was that no agreement was come to in regard to certain conditions with the Chinese Government.
§ Sir E. GREYWell, I have stated that in reply to questions on the 14th inst. If the hon. Member will refer to that answer—to which I have already referred this afternoon—I think he will see that it covers his supplementary question. If it does not, if he will put down a question, I will give what further information I can.
§ 11. Mr. HARMOOD-BANNERasked whether the conditions originally laid down by the financial group monopolising the support of the six Powers in the Chinese loan negotiations were considered essential to make any loan sound and really advantageous to China; and, if so, why the Powers are now prepared to give fair consideration to amendments put forward by China?
§ Sir E. GREYThe six-Power Group has always been prepared to give fair consideration to any counter-proposals put forward by China. No change has taken place in the attitude of the group in this respect. It was the general lines, not all the details, that were essential.