Mr. Hay to Mr. Wu.
Washington, July 18, 1901.
My Dear Mr. Wu: In view of your personal letter of the 13th, I have made inquiry respecting the disposition of the $375,000 in silver bullion taken by the American troops from the yamen of the salt-tax [Page 130] commissioner in Tientsin. I learn that the bullion was converted into bills of exchange which have been turned over to the United States Treasury for collection at maturity, the proceeds to be subject to official check upon the approval of the President.
While there is every disposition to give favorable consideration to the question of returning the sum to China, the time and manner of so doing remain to be determined by the President.
I am, etc.,