Appendix: The Speeches and Writings of Sir Charles Addis In the late 1880s and early 189Os, Addis contributed articles to the Chinese Times (Tientsin) and the North China Herald and North China Daily News (Shanghai) which were unsigned. In addition he wrote a column called 'Peking Notes' in the Chinese Times and 'Notes by Quidnunc' in the China Daily News. However since other individuals contributed to these columns as well, the authorship is not always certain. Listed below, in chronological order, are those articles where the evidence of Addis's authorship is certain. Many of these can be found in the Addis scrapbook, 1673 or elsewhere in the collection. Most are also listed in the Catalogue of the Papers of Sir Charles Addis. 'Genius', a speech at Bums Dinner, 22 April 1880. 'The Wedding Rice', Chinese Times, 4 June 1887. 'Exchange', ibid, 9 November 1889. 'New Railroads in China', ibid, 16 November 1889. 'Railways in Chinal, Contemporary Review, May 1889. 'Notes by Quidnunc', North China Daily News, March-December 1890. 'Education in China', China Review, January 1890. 'The Opium Question, A Rejoinder', Indian Evangelical Review, October 1891. 'Corea under the Russians: The Issacher of the East', United Services Magazine, 15 June 1897. Speech to students at St John's College, Shanghai, St John's Echo, March 1901. 'Individual Character as Political Force', SDCGK publication, August, September, October 1901. 'Memorandum on Chinese currency', prepared for the American Commis- sioners in Shanghai, 1902. 'The Relation of the Foreign Community to the Education of the Chinese', extracts published in the Journal of the American Asiatic Association, July 1902. 'The Daily Exchange Quotations', speech to Literary and Debating Society, Shanghai, 4 February 1903. Printed as a pamphlet by North China Herald. Addis reply to a speech by A. J. Barry on 'Railway Development in China' , Journal of the Royal Society of Artl', May 1909. 'Western Culture as a Means of Chinese Reform', speech to Stepney Readers' Union, 1911. 'Memorandum for Conference between the Right Hon. Walter Runciman and the Right Hon. Sir John Simon on British Wartime Trading with German Firms in China, 4 May 1915. 321 322 The speeches and writings of Sir Charles Addis 'A British Trade Bank', Economic Journal, 26 (December 1916). 'Vote of thanks' for President's address to the Institute of Bankers, Journal (December 1916). Introduction to Silver: Its History and Romance by Benjamin White (August 1917). 'Bank Reserves and Depreciation' Economic Journal, 27 (September 1917). 'Problems of British Banking', Edinburgh Review, 228 (July 1918). 'Policy and Finance in China', International Review (February 1919). 'The Economics of a War Indemnity', Journal of the Institute of Bankers (1919) and Nation, 108 (12 April 1919). 'What Should Germany Pay', International Review (May 1919). 'European Policy and Finance in China', Living Age, 350 (28 June 1919). 'The Victory Loan', Review of Reviews, 60 (July 1919). 'British Overseas Banking', International Review, July 1919. 'Finance of China', Edinburgh Review, 230 (October 1919). 'The China Consortium', Times, 14 October 1920. Review of Foreign Financial Control in China by T. W. Overiach, Economic Journal, XXX (1920) pp. 96-9. Memorandum on the bank rate and inflation, 1920. 'The Chinese Republic and the International Consortium', speech to Profes- sor Kemmerer's students at Princeton University, October 1920. 'Speech on post-war reconstruction' at Paish dinner, 1921. 'Two Fallacies and a Great Truth' , speech to the London Missionary Society, 11 May 1921. 'The China Consortium', speech at the Reform Club, 20 May 1921. 'Reconstruction - a problem in prices', Oxford Economic Society, 1921. 'Inaugural Address of the President', 8 November 1921, Journal of the Institute of Bankers. Speech at Hong Kong University on receiving an honorary degree, 1922. 'Changes in China in the past Twenty Year', Bankers Magazine, 104 (May 1922). Obituary of Murray Stewart, China Express, 1922. 'Memorandum of the Formation of a Reserve in Connexion with the British Debt to the United States', 11 May 1923. 'Back to the Gold Standard', Accountants' Magazine, 28 (January 1924). 'Discussion on Monetary Reform', Economic Journal, 34 (June 1924). Obituary of Stephen of the HSBC, Times, 1924. 'The Call of China', speech at St Katherine's Royal Chapel, 14 March 1926. 'Chinese Tariff Revision', Times, 26 November 1925. 'Comments on Hu Shih speech', Journal of the Royal Institute of International Affairs, 5 (9 November 1926). 'Toast to Sir Frederik Whyte', 23 February 1928. Speech at China Society Dinner, 24 May 1928. Speech at Dinner to Hu Han-min, 24 July 1928. 'Notes for [HSBC] Chairman's Speech, 1928-9. Speech at Cambridge on the Bank for International Settlements, 28 November 1929. 'How International Bank Can Aid in World Finance', 3 April 1930, Journal of the Institute of Bankers, 51 (May 1930). Appendix 323 'Free Trade and World Trade', speech to Edinburgh Chamber of Commerce, 27 October 1930, Bulletin Periodique of the Societe Beige d'Etudes at d' Expansion. 'The Outlook for International Cooperation in Finance', speech to the New York Academy of Political Science, 14 November 1930, Proceedings of the Academy of Political Science, 14 (January 1931). 'Free Trade' speech given to the British Empire Chamber of Commerce in New York and printed in their Monthly Journal (November 1930). Speech on current financial situation to the Bond Club, New York, Coupon, 1930. 'The Small Investor', Toast at National Savings Committee Dinner, 7 January 1931. 'The Young Plan and the World's Credit Structure', speech to League of Nations meeting, Journal of the Institute of Bankers (January 1931). 'Memorandum on Chinese Railways', 4 October 1932. Comment on Schacht speech on 'Freedom of International Payments', 6 December 1932, Chatham House. Introduction to Flandin Address on 'The Gold Standard', 7 June 1933, Chatham House. Speech at Canada Club Dinner, 23 October 1933. Obituary of Cecil Baring, Lord Revelstoke, Banker, 1934. Speech on 'Canada and its Banks', made in Oxford and at a dinner for the Lombard Association of Foreign Banks, London, 1934, Quarterly Review (July 1934). Introduction to Credit and International Trade by Barnard Ellinger (London; Macmillan, 1934). Speech to London Missionary Society Conference, Newcastle, on Robert Morrison, 1934. 'Service above Self', Speech at Tunbridge Wells Rotary Club, 1936. 'The New Monetary Technique', speech to the American Club in Paris, Quarterly Review, 269 (July 1937). 'The Future of Gold', January 1938, Daily Telegraph, Financial Supplement. 'A Liberal Economy', Spectator, 160 (4 Febuary 1938). Speech on Lord Stamp's elevation to the Peerage, Abbey Road Monthly Review, IX (August 1938). 'China and Japan - A Contrast', 31 October 1938, speech to the Rotarians, Tunbridge Wells and to the Lombard Association, 16 November 1938. Speech to the prizewinners, Technical Institute, 19 January 1939, Tunbridge Wells. Appeal on behalf of the British Fund for the Relief of Distress in China, 31 March 1939. Toast to 'The Immortal Memory' at Tunbridge Wells Burns night dinner, 1940 and again in 1941. Speech on 'Post-War Policies, Mercantile and Monetary' for the Tunbridge Wells Institute of Bankers, 11 March 1941. Notes Preface and Acknowledgements 1. 'Struggle for China: The Anglo-American Relationship, 1917-25', un- published Ph.D. dissertation at the State University of New York, Buffalo, 1972. 2. Professor Clarence Davis told me about the Addis papers 3. C. P. Addis, 'Thomas Addis (1813--1899)" 1974; 'William Addis (1844- 1917)', 1975; 'The Thorburns', 1978. 4. Priscilla Norman's In the Way of Understanding, describes her friendship with Miss Addis. 5. Margaret Harcourt Williams' Catalogue of the Papers of Sir Charles Addis, does not include a 1986 discovery of materials, mainly letters to Addis from Murray Stewart, Dudley Mills and Alexander Michie. See Rosemary Seton's Introduction to the Catalogue, p. xix. 6. 'The Young Charles S. Addis: Poet or Banker', in F. H. H. King (ed.) Eastern Banking: Essays in the History of the Hongkong and Shanghai Banking Corporation. Introduction 1. Bankers and Diplomats in China 1917-1925: The Anglo-American Relationship, was finished in 1976 but not published until 1981. 2. A. Salter et aI., The World's Economic Crisis. 3. 21 October 1921, DBFP, 1st series, XIV, p. 450. 4. B. J. C. McKercher, The Second Baldwin Government and the United States, 1924--1929. 5. Richard Sayers, The Bank of England, p. 597. 6. B. J. C. McKercher (ed.) Struggle for Supremacy. 7. See the pioneering work of Carl Parrini, Heir to Empire: United States Economic Diplomacy, 1916-1923 and the current writing of D. Cameron Watt, Succeeding John Bull. 8. For instance, Secretary of State Cordell Hull wrote that if the Anglo- American Trade Agreement of 1938 had been signed four years earlier, The Second World War might not have occurred. Cited in Watt, Succeeding John Bull, p. 65. 9. Alec Cairncross and Barry Eichengreen, Sterling in Decline, p. 23, define the 'sterling area' as made up of 'countries that endeavour to keep their currencies pegged to the pound, invoice the bulk of their trade in sterling, and maintain the largest portion of their foreign exchange reserves in the form of sterling balances held in London.' 10. For recent discussion of the relationship between investment bankers and their governments, see David McLean, 'International Banking and its Political Implications: The Hongkong and Shanghai Banking Corporation and the Imperial Bank of Persia, 1889--1914', in F. H. H. 324 Notes 325 King, Eastern Banking; Pat Thane, 'Financiers and the British State: The Case of Sir Ernest Cassel', Business History, XXVIII (1986) pp. 80- 99; R. C. Michie, 'Options, Concessions, Syndicates, and the Provision of Venture Capital, 1880-1913', Business History, XXIII (1981) pp. 147- 64. PART I THE DEVELOPMENT OF A MAN AND HIS CAREER 1 The young Charles Addis, 1861-95 1. C. P. Addis, 'William Addis, 1844--1917' (1975). 2. C. P. Addis, 'Thomas Addis, 1818-1899' (1974); 'William Addis' (1975). See also Annals of the Free Church of Scotland 1843-1900. Kindly supplied by Olive Checkland. 3. Charles's brothers were William, George, Thomas, David, Robert. His sisters were Anne, Susan, Henrietta, Jane and Robina (Croppie). One sister (an earlier Robina), died in childhood. 4. Addis to Aunt Mansfield, 7 May 1886, speaks of Uncle Robert and Uncle John coming to China in 1847, Addis papers. 5. Addis to Susan, 4 September 1886, Addis papers. Robina earned the nickname 'Croppie' when she cut her hair with a pair of nail scissors (Miss Addis to author, August 1984). 6. Diary, September 1887-September 1889, Addis papers. 7. Addis's oldest brother, William, studied theology at Oxford; his brother George was a banker. 8. Diary, 1887-1889. 9. Addis to Miss Turnbull, 30 May 1889, Addis papers. 10. 18 March 1932, Addis papers. 11. Sydney and Olive Checkland, Industry and Ethos: Scotland 1832-1914. 12. MiIIs to mother, 1889, Addis papers, 1200. 13. Addis to Susan, 18 July 1887, Addis papers. 14. C. P. Addis, 'William Addis'. 15. Diary, September 1887-September 1889, Addis papers. 16. 11 March 1880, Addis papers, /101. 17. Fleming to Addis, 17 November 1881, Addis papers, /130. 18. George Addis to Charles, 26 November 1880, Addis papers, 170; Addis to Manager, HSBC, January 1880, Addis papers. 19. Ronald Robinson and John Gallagher, 'The Imperialism of Free Trade', Economic History Review, 2nd series, VI (1953) pp. 1-15. 20. J. K. Fairbank and K. C. Liu (eds) CHC, II, Part II. 21. Maurice Collis, Foreign Mud: The Opium Imbroglio at Canton and the Anglo-Chinese War. 22. For the Chinese point of view, see Arthur Waley, The Opium War through Chinese Eyes. 23. Hsin-pao Chang, Commissioner Lin and the Opium War. 24. Michael Greenberg, British Trade and the Opening of China 1800-1842; 326 Notes John K. Fairbank, Trade and Diplomacy on the China Coast: The Opening of the Treaty Ports 1842-1854. 25. Britten Dean, China and Great Britain: The Diplomacy of Commercial Relations, 1860-1864. 26. A. Michie, The Englishman in China, vol. II, p. 157. 27. Masataka Banno, China and the West, 1858-1961: The Origins of the Tsung/i Yamen, chs. I and II. 28. Mary Wright, The Last Stand of Chinese Conservatism: The T'ung-Chih Restoration, 1862-1974. 29. K. C. Liu, 'Li Hung-chang in Chihli: The Emergence of a Policy, 1870-1875', in A. Feuerwerker, R. Murphey and Mary Wright (eds) Approaches to Modern Chinese History, pp. 68-104. For Hart, see S. F. Wright, Hart and the Chinese Customs. 30. Jonathan Spence, To Change China: Western Advisers in China, 1620- 1960, pp. 94-5. 31. J. K. Fairbank, K. F. Bruner, E. M. Matheson (eds) The IG in Peking: Letters of Robert Hart, Chinese Maritime Customs, 1868-1907,2 vols. 32. Michie, The Englishman in China, vol. II, p. 165. 33. D. McLean, 'Commerce, Finance and British Diplomatic Support in China, 1885-6', Economic History Review, 2nd series, XXVI (1973) pp.464-77. 34. F. H. H. King, 'Establishing the Hongkong Bank: The Role of the Directors and their Managers', in F. H. H. King (ed.) Eastern Banking: Essays in the History of the Hongkong and Shanghai Banking Corpor- ation, pp. 230-64. 35. Ibid, pp. 43-4. 36. Yen-P'ing Hao, The Comprador in Nineteenth Century China: Bridge Between East and West; C. T. Smith, 'Compradores of the Hongkong Bank', King (ed.) Eastern Banking, pp. 93--111. 37. Diary, 1887-1889, Addis papers. 38. Account of Miss Addis to author. 39. Diary, 24 January; 24 April; August-November 1881. 40. C. S. Addis, 'Peking in the Eighties, II', Addis papers. This was classical Chinese. Later the instruction would emphasise commercial Chinese. 41. Charles Davis to Addis, 3 October 1883, Addis papers, 1103. 42. H. M. Thomsett to Addis, 16 May 1883, Addis papers, /103. 43. Jackson, who was knighted in 1889, served as Chief Manager three different times. See King (ed.) Eastern' Banking. 44. Addis to father, 27 January 1886, Addis papers. 45. Addis to Grayburn, 8 November 1933, Addis papers. 46. Cameron was awarded the KCMG in 1900. 47. Addis to mother, 8 January 1886, Addis papers. 48. Quoted in Catherine King, 'The First Trip East - P&O via Suez', in King (ed.) Eastern Banking, pp. 225-6. 49. Addis to sister Annie, 23 January 1886. 50. Addis to mother, 22 November 1886, Addis papers. 51. Addis to sister Susan, 15 June 1886, Addis papers. 52. Addis to sister Etta, 1 March 1886, Addis papers. The pigtail or queue, had been imposed on the Chinese by the Manchus. Notes 327 53. The portrait remains in the Addis study at Woodside. 54. Addis to Annie, 23 January 1886, Addis papers. 55. F. Barry Smith, 'Sexuality in Britain, 1800-1900: Some Suggested Revisions', in Martha Vicinus (ed.) A Widening Sphere: Changing Roles of Victorian Women, pp. 182-99. 56. 14 June 1883, Addis papers, /103. 57. Charles Davis to Addis, 28 November 1884, Addis papers, /104. 58. Fleming to Addis, 11 June 1885, Addis papers, /130. 59. See views on prostitutes and concubinage below. 60. Mills's father had been a Member of Parliament, 1875-80. 61. Addis to Susan, 15 March 1886, Addis papers. 62. 'The Curse of China', Mills's speech in Newcastle, 14 March 1889 reported in the Chinese Times, 25 May 1889. 63. Addis to Mills, 9 March 1887, Addis papers. 64. Mills to Addis,S December 1923, Addis papers. 65. Recollections of Miss Addis as told to author. 66. Mills to Addis, 22 December 1927, Addis papers, 1216. 67. Addis could speak and understand some Chinese but it was Cantonese (used in Hong Kong), not the Mandarin dialect used in Peking. 68. Addis to father, 4 April 1886, Addis papers. 69. Addis to father, 11 May 1886, Addis papers. 70. Addis to Lockhart, 13 June 1886, Addis papers. Jordan served as Minister to Peking from 1906 to 1920. 71. K. C. Liu, 'Li Hung-chang in Chihli: The Emergence of a Policy, 1870- 1875', in A. Feuerwerker, R. Murphey and Mary Wright (eds). Approaches to Modern Chinese History, pp. 68-104. 72. George Woodcock, The British in the Far East. 73. Addis to brother Tom, 4 July 1886, Addis papers. 74. Addis to father, 4 April 1886, Addis papers. 75. Edward Le Fevour, Western Enterprise in Late Ch'ing China: A Selective Survey of Jardine, Matheson & Company's Operations, 1842-1895, pp.64-5. 76. Addis to Fleming, 22 May 1886, Addis papers. 77. Addis to Craig, 4 July 1886, Addis papers. 78. Addis to Leith, 31 May 1886, Addis papers. See also David King, 'China's First Public Loan: The Hongkong Bank and the Chinese Imperial Government "Foochow" Loan of 1874', in King (ed.) Eastern Banking, pp. 230-64. 79. Addis to Gershom Stewart, 23 June 1886, Addis papers. 80. Addis to Cameron, 16 June 1886. Nicholas R. O'Conor was the British Charge d'Affaires of the legation in Peking. The shroff, a term coming from India, was the Chinese official who determined the value of coins. The tael was a unit of account. See Frank H. H. King, Money and Monetary Policy in China, pp. 70-81. 81. Addis to Tom, 4 July 1886, Addis papers. 82. Addis to Mills, 3 January 1892, Addis papers, /153. The Marquis Tseng had been Minister to Britain, 1879-85. 83. Addis to Tom, 4 July 1886, Addis papers. 84. Michie to Addis, 4 December 1886, Addis papers, /132. 328 Notes 85. 'Peking Notes', Chinese Times, December 1886. 86. Le Fevour, Western Enterprise, passim. 87. Addis to mother, 27 October 1887, Addis papers. 88. 'Peking Notes', Chinese Times, January, February, May, June, 1887, and passim. 89. Michie to Addis, 2, 20, 31 May 1887, Addis papers, /133. 90. Michie to Addis, 5, 22 June 1887, Addis papers, /133. 91. Addis to Aunt Mansfield, 25 November 1886, Addis papers. 92. Sundius to Addis, 1889, Addis papers, /111. 93. Chinese Times, 12 February 1887, p. 225. 94. Addis to J. L. Chalmers, 17 April 1887, Addis papers; 'Peking Notes', Chinese Times, 16 April 1887. 95. Michie to Addis, 12,25,26 June 1887, Addis papers, /133. 96. Addis to Mills, 28 June 1887, Addis papers. 97. Chinese Times, 25 June, 16,30 July, 20 August 1887. 98. Addis to father, 4 October 1886, Addis papers. 99. Addis to George, 27 September 1886, Addis papers. 100. Addis to Etta, 20 September 1887, Addis papers. 101. Addis to Lockhart, 10 September 1887, Addis papers. 102. Lockhart to Addis, 27 December 1886, Addis papers, /131. 103. See three-page description of the fluctuations of the London Market quotations of the Mexican dollar which Addis wrote for Jordan, 15 December 1886, Addis papers. 104. Addis to sister-in-law, Elsie, 10 May 1887, Addis papers. 105. Charles Denby served as Minister to Peking for fourteen years. He wrote China and her People: Being the Observations, Reminiscences, and Conclusions of an American Diplomat. His two sons, Charles Jr., and Edwin, later held political appointments in the USA. 106. Addis to Etta, 24 December 1886. 107. Diary, 22 April 1888. 108. Miss Denby to Mr Addis, 9 September 1888, Addis papers, /l08. 109. Michie to Addis, 5 April 1888, Addis papers, /134. 110. Michie to Addis, 19 April 1888, Addis papers, /134. 111. Addis to Mills, 2, 3 December 1888, Addis papers. 112. Ralph W. Huenemann, The Dragon and the Iron Horse: The Economics of Railroads in China, 1876-1937, p. 40. 113. Ibid, p. 43. 114. 'Railways in China', Contemporary Review, LV (1889) pp. 742-51. 115. Addis to sister-in-law Carnie, 17 May 1889, Addis papers. 116. Aglen joined the Customs in 1888. 117. Diary, June, July, August 1889. Michie, The Englishman in China, II, p.154. 118. 'Exchange', The Chinese Times, 9 November 1889; 'New Railroads in China', The Chinese Times, 16 November 1889. 119. 'Exchange', The Chinese Times, 9 November 1889. 120. Ibid. 121. Michie to Addis, 3 March 1890, Addis papers, /136. 122. Michie to Addis, 17 February 1890, Addis papers, /136. 123. Addis to Tom, 26 September 1889, Addis papers. Notes 329 124. Addis to Croppie, 27 October 1889, Addis papers. 125. Addis to Mills, 14 January 1890, Addis papers. For the SDCGK see Murray Rubenstein, 'Propagating the Democratic Gospel'. 126. Michie to Addis, 7 February 1891, Addis papers, /137. 127. C. S. Addis, 'On Educating the Chinese', manuscript in Addis papers, reported in North China Daily News, 16 May 1890. 128. Addis to Mills, 15 June 1890, Addis papers. 129. Addis to Mills, 20 April 1890, Addis papers. 130. Mills to Addis, 16 May 1891, Addis papers. 131. Russell & Co. made Addis an offer through his Uncle John. The other offer came from Vincent Smith. See Addis to George, 15 February 1890; Addis to Crop, 22 February 1890, Addis papers. 132. Addis to George, 15 February 1890, Addis papers. 133. Ibid. 134. Addis to Susan, 23 August 1890, Addis papers. 135. Addis to Mills, 20 February 1891 indicates that originally he had been appointed to Saigon but that was changed at the last minute. Addis papers. 136. Diary, 31 March, April 1891. 137. 10 May 1891, Addis papers. 138. Addis to Mills, 14 April 1891, Addis papers. 139. Addis to Croppie, 11 June 1891. Addis papers. The quotation is from Robert Browning, 'Pippa Passes'. 140. Addis to Mills, 6 July 1892, Addis papers, and Diary, 10 June 1892. 141. Addis often recounted the experience to his children (Miss Addis to author, August, 1984). 142. Addis to Croppie, 14 July 1893, Addis papers, 1292. 143. Diary, 22 October to 3 November 1892. 144. Addis to Mills, 6 November 1892, Addis papers, 1153. 145. Diary, 14 December 1892. 146. 'Leaves from a Young Man's Journal in Rangoon', 12 September 1893, Addis papers, /154. 147. Addis to Croppie, 14 July 1892, Addis papers. 148. Addis to Mills, 29 June 1893, Addis papers, /159. 149. Addis to Wallop, 13 July 1887, Addis papers. 150. 10 May 1891, Addis papers. 151. Addis to Eba, 10 March 1894, Addis papers. 152. Lockhart to Addis, 4 March 1888, Addis papers, /131. 153. Leith to Addis, 19 February 1893, Addis papers, /116. 154. Diary, 24 November-27 December 1893. 155. The Provost was similar to the Mayor of a village. 156. Diary, 15 January 1894. Eba's real name was Elizabeth. 157. Diary, 16 January 1894. 158. Diary, 14 February 1894. 159. Diary, 24-27 February 1894. 160. Addis to Eba, 7 March 1894, Addis papers. 161. Diary, 7, 16 March 1894; Addis to Miss Eba, 17 March 1894, Addis papers. 162. Diary, 11 April 1894. 330 Notes 163. Diary, 28 April 1894. 164. Addis to Mills, 24 September 1894, Addis papers. 165. Diary, 1 January 1895. 166. Diary, 31 December 1895. 167. Timothy Richards to Charles Addis, 30 November 1894. Timothy Richards was born in Wales and served in the Baptist Missionary Society, London. See Forty-five Years in China: Reminiscences by Timothy Richard. 168. Diary, 3,10,11 January, 8 February 1895. 169. Diary, 2 October 1895, Eba writing. 170. Addis to wife, 4 October 1895, Addis papers. 171. Diary, 9 March 1896, Eba writing. 2 Widening Horizons 1895-1904 1. The explanation for the differing response of Japan and China is a subject much discussed and still debated by Asian specialists. 2. The Treaty of Shimonoseki is in John van Antwerp MacMurray (ed.) Treaties and Agreements with and concerning China, 1894-1919, I, pp. 18---24. 3. Hosea Ballou Morse, The International Relations of the Chinese Empire, vol. III. 4. William Langer, The Diplomacy of Imperialism, I, p. 167, indicates that England controlled 65 per cent of Chinese foreign trade and 85 per cent of all imports and exports were carried in British ships. See also C. F. Remer, Foreign Investments in China. 5. C. J. Lowe, The Reluctant Imperialists, pp. 230-2; J. A. S. Grenville, Lord Salisbury and Foreign Policy: The Close of the Nineteenth Century. 6. Addis to father, 4 March 1895, Addis papers. 7. Addis to Mills, 20 July 1895, Addis papers. O'Connor was Minister to Peking, 1892-5. 8. Addis to Mills, 20 July 1895, Addis papers. See also David McLean, 'The Foreign Office and the First Chinese Indemnity Loan, 1895', Historical Journal, XVI, (1973) pp. 303-21. 9. Addis to father, 4 March 1895, Addis papers, /292. 10. Ibid. 11. Addis to Townsend, 15 May 1898, Addis papers. 12. Addis to Mills, 28 July 1895, Addis papers. 13. For an insightful discussion of late Victorian expansion see Ronald Robinson, John Gallagher and Alice Denny, Africa and the Victorians: The Climax of Imperialism, ch. 1. 14. D. C. M. Platt, Finance, Trade and Politics in British Foreign Policy 1815-1914. 15. For the relations between the HSBC and Germany, see D. J. S. King, 'The Hamburg Branch: The German Period, 1889-1920', in King (ed.) Eastern Banking, pp. 517-44. 16. Inscribing the bonds added to the creditworthiness of the bonds which could be exchanged for Bank of England Stock 'free of all expense'.