893.51/4251
The British Ambassador ( Geddes ) to the Secretary of State
Sir: Under instructions from His Majesty’s Principal Secretary of State for Foreign Affairs, I have the honour to inform you that the Japanese and French Governments have now agreed with His Majesty’s Government that the four Consortium groups should proceed immediately to examine the question of consolidating China’s unsecured debts. Inasmuch as the necessary data for the consideration of this question are solely available at Peking, His Majesty’s Government consider that the examination could be conducted most satisfactorily by the group representatives at Peking in consultation with the Ministers of the four Powers. His Majesty’s Government propose that the four Ministers should first table the loans in default in which their respective nationals are interested and that after a preliminary examination by the Consortium groups the Chinese Government should then be asked to furnish the necessary data with a view to the elaboration of a definite funding scheme. The British Consortium Group have been approached by His Majesty’s Government in this sense and have been requested to send the necessary instructions to their representative at Peking.
[Page 533]In conversation between a member of His Majesty’s Embassy and Mr. MacMurray42 on the 27th ultimo it was understood that the American Government was disposed to concur in the examination of this question by the Consortium.
I have the honour to enquire whether the United States Government concur in the proposals outlined above and, if so, to ask that they will be so good as to send similar instructions without delay to the American Group. I have the honour to request the favour of an early reply.
I have [etc.]
- John V. A. MacMurray, chief of the Division of Far Eastern Affairs, Department of State.↩