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“...orders makes it no doubt necessary
in certain cases to allow considerable more latitude than would be
granted to a private concern, but the results are rarely satisfactory.
"Waterworks, which are a crying need in Nanking, as repeated
epidemics have proved, have not yet been provided. Native funds are
not forthcoming for the purpose and foreign capital is unobtainable
without proper security, which has never yet been obtainable.
The numerous industrial undertakings, such as cotton and woollen
mills, cigarette factories, soap works, &c., which have been con-
templated hr Nanking ever since the opening of the port to foreign
trade in 1899, are still conspicuous by their absence. Even the local
arsenal, the only concern in Nanking turning out machine-made goods,
is about to be closed.
The Ta Ching Government Bank opened a branch at Nanking
during the year under review, not, it was announced, to do business,
but in connection with the introduction of the new national coinage.
Instructions...”
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