1912年中国政府5%克利斯浦借款公债20英镑券9枚,VF;The Chinese Government 5% Crisp Gold Loan, group of 9 bonds for 20 pounds, The Chinese Government Gold Loan of 1912 was originally forthe sum of £10,000,000, but only £5,000,000 was issued. The loanwas: “…authorised on the 14th day of July, 1912, by the Premierand the Minister of Finance of the Government of the Republic ofChina and by special order dated 2nd day of September,1912 of thePresident of the Republic of China duly notified on the 4th day ofSeptember, 1912, by the representative of the Chinese Governmentin London to His Majesty’s Secretary of State for Foreign Affairs andon the 14th day of September, 1912, by the President of the Republicof China to the British Minister in Pekin.”The loan was also known as the 1912 Crisp Gold Loan as it wasfloated by C. Burch, Crisp & Co. in London at 95% on behalf of theBritish & International Investment Trust, Limited. Other financialinstitutions acting as agents for this loan were the British Bank ofForeign Trade, Lloyds Bank and the Chartered Bank of India,Australia and China. Bearer bonds were issued in the denominationsas shown in the table above.The loan was constituted as a direct liability and obligation of theChinese Government and was secured upon a first charge on thesurplus of Salt Gabelle (Salt Tax) revenues. The annual revenuesof the Salt Gabelle were estimated as being 47,510,000 Kuping1Taels of which 24,000,000 Taels per annum had already beenpledged by law to be spent in a particular way.Coupons were payable on 30th March and 30th September eachyear. This loan has been in default since March 1939.very fine (9)