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And His Majesty the Emperor of Japan, Hioki Eki, Jushii, Second Class of the Imperial Order of the Sacred Treasure, Minister Plenipotentiary, and Envoy Extraordinary: Who, after having communicated to each other their full powers and found them to be in good and due form, have agreed upon and concluded the following Articles: Article 1.

His Excellency, Hioki Eki, Japanese Minister. Reply Peking, the 25th day of the 5th month of the 4th year of Taisho. Excellency,

Hioki blandly told the late President Yuan Shih-kai in his famous interview of the 18th January, 1915, being a source of constant irritation to the Japanese people, and the greatest stumbling-block to a permanent understanding in the Far East.

When a suitable opportunity arises in future, the Chinese Government will send military officers to Japan to negotiate with Japanese military authorities the matter of purchasing arms or that of establishing a joint arsenal. Mr. Hioki, the Japanese Minister, stated as follows:

Hioki, the Japanese Minister, at a Conference held at Wai Chiao Pu, May 1, 1915.

As regards the disposal to be made of the buildings and properties of Germany and the conditions and procedure relating thereto, the Japanese Government and the Chinese Government shall arrange the matter by mutual agreement before the restoration." In reply, I beg to state that I have taken note of this declaration. I avail, etc., His Excellency, Hioki Eki, Japanese Minister.

Hioki, personally served on Yuan Shih-kai the now famous Twenty-one Demands, a list designed to satisfy every present and future need of Japanese policy and to reduce China to a state of vassalage.

I avail, etc., His Excellency, Hioki Eki, Japanese Minister. Reply Peking, the 25th day of the 5th month of the 4th year of Taisho. Excellency,

The Chinese Government further agrees not to confiscate the said Company, nor, without the consent of the Japanese capitalists to convert it into a state enterprise, nor cause it to borrow and use foreign capital other than Japanese. I avail, etc., His Excellency, Hioki Eki, Japanese Minister. Reply Peking, the 25th day of the 5th month of the 4th year of Taisho. Excellency,

Hioki, personally served on Yuan Shih-kai the now famous Twenty-one Demands, a list designed to satisfy every present and future need of Japanese policy and to reduce China to a state of vassalage.