The British Embassy to the Department of State

No. 221


His Majesty’s Government have been informed by the Belgian Government that a Belgian financial group is being formed with the object of participating in the new international consortium for Chinese loans. The Belgian Government add that the group is [Page 429]most anxious to be invited to the group meetings that will be held shortly to organize the scheme.

His Majesty’s Government hold that, although the admission at the early stage of the proceedings of a fifth group may tend to complicate the negotiations, they are bound to admit the Belgian group in accordance with the promise made in 1917.

His Majesty’s Government would be grateful for an expression of the views of the United States Government in the matter before replying to the Belgian Government.