893.51/2415: Telegram
The Minister in China (Reinsch) to the Secretary of State
[Received September 10, 7.38 a.m.]
I have persuaded Minister of Finance that action suggested is desirable in the interest of Chinese. He has today asked the old consortium whether or not they will make an administrative loan under their reorganization loan option. He expects a negative reply. If he can be persuaded to exchange notes he desires to do it by way of making the American group the exclusive financial agent for Government loans of all kinds. In my reply I should of course state that the American group will understand that it may invite other national groups to participate.