893.51/3507: Telegram

The Secretary of State to the Minister in China (Schurman)


257. Your telegram no. 322, September 10. It would be of advantage to financial interests in the United States, in the opinion of the Department, if such control of the administration of the wine and tobacco taxes as was intended when the Bank made its original contract should be made effective.

Whether or not Abbott should negotiate a new loan is naturally a matter for him to decide.

The assumption of the Department is that in his negotiations Abbott intends for the present to make a new loan only to refund that made by the Chicago Bank which comes due within a few weeks.