Seang, the prime minister of China, who was a Manchu, and that if I were to put my scheme in writing, he would forward it to Peking, and ask Wen Seang to use his influence to memorialize the government for its adoption. Such an unexpected piece of information came like a clap of thunder and fairly lifted me off my feet. I immediately left Suchau for Shanghai. With the help of my Nanking friend, who had helped me in the work of translating “Parsons on Contracts,” I drew up four proposals to be presented to Governor Ting, to be forwarded by him to Minister Wen Seang, at Peking. They were as follows:
FIRST PROPOSAL
The first proposal contemplated the organization
of a Steamship Company on a joint stock
basis. No foreigner was to be allowed to be a
stockholder in the company. It was to be a
purely Chinese company, managed and worked
by Chinese exclusively.
To insure its stability and success, an annual government subsidy was to be made in the shape of a certain percentage of the tribute rice carried to Peking from Shanghai and Chinkiang,
