File No. 893.51/2078
The Minister in China (Reinsch) to the Secretary of State
[Extract]
No. 2317
Peking,
November 8, 1918.
Sir: In connection with my telegram of
even date herewith concerning the currency loan option, I have the
honor to state that yesterday Mr. E. G. Hillier, the representative
of the British group, and Mr. R. Saint-Pierre, the representative of
the French group, called on me to inform me that the Minister of
Finance had extended the option. They urged that as the extension
had been granted on condition that negotiations for the currency
loan should now be taken up, it is of the utmost importance that the
United States should, without delay, have a financial representative
here. As it had been practically decided that America would
participate, they said that it would be very embarrassing to them to
continue to ask for delay on account of the absence of an American
representative. On the other hand, they felt that it would not be
right for them to proceed with the negotiations, as the first
conferences on this matter will be most important since in them the
basic principles of the loan and of the reform will be discussed.
…
I have [etc.]
[Enclosure]
The Chinese Acting Minister of Finance
(Ts’ao
Ju-lin) to the British, French, Russian, and Japanese groups’
representatives
Ministry of Finance,
Peking,
November 5,
1918.
Gentlemen: I have the honor to
acknowledge receipt of your letter enclosing your observations
on the currency memorandum which had been handed to you by this
Ministry.
Your observations are noted and will be given careful
consideration by this Ministry.
Your statement that in view of the importance of currency reform
time is necessary for discussion of the memorandum and your
request for extension of the currency reform and industrial
development loan agreement of 1911 in order that due time may be
allowed for full discussion are clearly well founded. I have
therefore the honor hereby to authorize the further extension of
the agreement for six months, commencing from the 14th of
October of this year and terminating on the 14th of April next
year.
I have to add that the discussions should take place as soon as
possible during this period; if protracted beyond due date, no
further extension will be allowed.
I have [etc.]
