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Updated: June 15, 2025
It was followed in 1895 by a 3,000,000 pounds Gold 6 per cent Loan, then by two more 6 per cent loans for a million each in the same year, making a total of 6,635,000 pounds sterling for the bare war-expenses. The Japanese war indemnity raised in three successive issues from 1895 to 1898 of 16,000,000 pounds each, added 48,000,000 pounds.
Silver loan of 1894 for Shanghai Taels 10,000,000 negotiated by the Hongkong & Shanghai Bank. It was followed in 1895 by a £3,000,000 Gold 6 per cent. Loan, then by two more 6 per cent. loans for a million each in the same year, making a total of £6,635,000 sterling for the bare war-expenses.
In default of important legislative tasks, the parliament which expired in 1806 devoted much attention to various features of the military system, as well as to proposed reforms in the public accounts. It sanctioned the principle of raising a great part of the war-expenses by special taxes rather than by loan.
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