The Acting Secretary of State to the Minister in China (Reinsch)
Your December 27, 6 p.m.
The American Group in October last stated their willingness to assist in carrying the shares of the British and French Groups in connection with loans to be made to China by the new International Consortium while circumstances were such as to prevent their more active participation. Any financial assistance to China must of [Page 422]course be through the American Group acting in conjunction with the British, French and Japanese Groups as already fully set forth in previous instructions.
Mr. John Jay Abbott has been chosen by the American Group to represent it and he will leave for China in the near future. This is for your confidential information until formal announcement is made by the bankers.
Please cable fully all information available concerning terms under which Baron Sakatani has assumed office of Financial Adviser.67 Japanese have said nothing to this government on the subject.
Also advise what reply has been received from Minister of Finance to Legation’s communication of September 27, 1918,68 concerning foreign loans based on the security of the wine and tobacco revenue.