The Secretary of State to the American Group
Gentlemen: The Department acknowledges the receipt of your letter of June 23, 1921, in which you suggest that at an early meeting of the Consortium Council, following its formation, a resolution may be proposed to the effect that the Consortium neither seeks control over, nor is interested in, the Chinese Land Tax as security for a loan.
The Department perceives no objection to the adoption of a resolution such as is described in the letter under acknowledgment, especially in view of the misapprehension in certain quarters in Peking regarding the attitude of the Consortium towards the Land Tax.
I am [etc.]
Second Assistant Secretary