File No. 893.51/1873
The French Ambassador ( Jusserand ) to the Secretary of State
Mr. Secretary of State: My Government informs me that the British Government has proposed to the Government of the United States an arrangement intended to secure the English group’s participation in the loan that is to be made to China. The said participation would be nominal but made effective by repaying to the [Page 143] American group such advance as it may have made for the account of the English group.
Referring to my communications of December 31, 1917,1 and January 11 last,1 I have the honor, by direction of the Minister of Foreign Affairs of the Republic, to apprise your excellency that the French group is disposed, for its part, to accept that arrangement with the reservation, however, that the American group will not be reimbursed until circumstances will permit of the notation of Chinese loans in the European markets.
In this connection I am instructed to remind your excellency of the favorable view taken by my Government of the organization of an American group interested in Chinese affairs and participating in the loans of that country. The Government of the Republic deems it altogether desirable that such a group be organized as quickly as possible and take part on its own account as well as on that of French and English groups in financial transactions. …
Be pleased [etc.]