Mr. Rockhill to Mr. Hay.
Peking, China, June 8, 1901.
Sir: I have the honor to inclose herewith copy of a note which I sent to-day to the dean of the diplomatic corps asking him to communicate to the represenatives of the powers the formal suggestion of the United States to submit the question of the indemnity to be asked of China to the Arbitral Tribunal of The Hague.
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Since my telegram to you of the 6th instant no other powers save those therein indicated have informed the conference that they agree to limit their claims-to July 1 and will accept 4 per cent interest. I am informed by the French minister that his Government accepts the limitation of the indemnity to 450,000,000 taels, but he has not stated that it accepts the interest specified. France’s acceptance is,’ furthermore, conditional on the agreement of the powers to a jointly guaranteed loan. Russia, I have reasons to believe, entertains exactly the same views.
The Japanese minister tells me that his Government can not agree to 4 per cent interest, as it can only borrow at 5 per cent.
The moment is the best, I think, I could have chosen for the formal submission of your proposal.
I am, etc.,