File No. 893.51/1715

The Secretary of State to Minister Reinsch


Your telegram of December 2. You may say to the Chinese Government that in the opinion of this Government there is nothing in the terms of the Chicago loan which conflicts with any agreements between China and foreign bankers. Opposition would seem to imply a claim on the part of some to greater privileges in China than enjoyed by Americans.

This Department last summer gave every encouragement to participation by group banks to loan to China and met with nothing but rebuffs.