493.11/952: Telegram
The Minister in China (Schurman) to the Secretary of State
[Received January 7—10:03 a.m.]
8. My 1, January 1, 1 p.m. Inspector general of customs wrote the dean on January 4 in part as follows:
The 1895, 1896, 1898 and 1913 (reorganization) sterling loans interest and amortization and also monthly indemnity installments due America, Great Britain, Holland, Japan, Portugal, Spain and Sweden were fully paid from customs in 1923. Spanish payments received under protest. Indemnity due Belgium, France and Italy, under instructions from the Chinese Government, were tendered at telegraphic transfer rates for French franc, but the receiving banks, under instructions from the respective Governments, refused acceptance. Sufficient silver has been retained in the loan service accounts at Shanghai to cover these payments not only at telegraphic transfer rates but also at gold parity.