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Carnegie Student loan

Note.—On June 10, 1913, the Director of Chinese Students in the United States, Doctor T. T. Wong, informed the Department that Mr. John W. Foster had requested Mr. Andrew Carnegie to lend the Chinese Government $200,000 for the support of the Chinese indemnity students, and that Mr. Carnegie had consented to do so. On June 12 Doctor Wong sent to the Department a memorandum, prepared by Senator Root, of the basis for arranging advances by Mr. Carnegie, one feature of winch—the only one of interest to the Department—was that “Whenever the funds of the Republic of China become available to resume the payment of indemnity, the amount advanced under this arrangement is to be reimbursed from the first installments.” (File No. 893.51/1452.)

On July 4, 1913, the Chinese Government authorized the loan and gave notice thereof to the American Legation. (File No. 893.51/1456.)

This loan is not related to those made by the American group of bankers set forth in the correspondence above.