893.50A/53

The Chinese Ambassador in the Soviet Union (Ten), Temporarily in London, to the Secretary of State7

Dr. Soong, now in Rome, has asked me to convey to Your Excellency in his name the following communication:—

“In the course of conversations which I have been privileged to have with the President and Your Excellency I explained the desire of the Chinese Government to make immediate progress with plans of economic reconstruction in China and their desire that this reconstruction should be based upon collaboration between China and other countries which have been associated with Chinese economic development in the past.

“I have come to the conclusion that the first step to take with a view to this end is to constitute a Consultative Committee including both Chinese and foreign members to advise the Chinese Government as to the best methods and programme to adopt. The nature and purpose of this Committee are described in the enclosed draft letter of invitation.

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“I intend to invite certain of the prominent citizens of your country to act as members of the Committee, as well as of France, Great Britain, Germany and Italy.

“I trust that your Government will be sympathetic towards the effort that the Chinese Government is making towards its reconstruction and will do what it can to facilitate this effort.

“I have been discussing generally the above matter with Mr. T. W. Lamont,8 who as you know has been interested in Chinese affairs for a long time.

“I intend to come to London in the near future to talk over the matter more fully with you.”

[Enclosure]

Draft Letter of Invitation by the Chinese Minister of Finance (Soong)

The Chinese Government has for some time been considering the most effective means for securing the co-operation of both Chinese and foreign interests for the practical realization of a programme of economic development in China along the lines envisaged by the late Dr. Sun Yat Sen.

The Government considers that the present moment is favorable for initiating a programme, and believes that it should be based upon the development of economic enterprises (including particularly the improvement of the means of communication), starting immediately where existing conditions make development most promising and systematically extending.

The Government also desires to review the situation of China’s existing obligations with a view to re-establishing her credit on a basis commensurate with her position and resources.

The Government is convinced that the undertaking of economic reconstruction of this character within practicable and extending limits would be of advantage both to China and to foreign countries, by increasing the general standard of living of China, and at the same time as a consequence increasing her purchasing power and facilitating a better arrangement with regard to her existing obligations than would otherwise be practicable.

For the above purposes the Government desires to have the benefit of the advice and counsel of persons both Chinese and foreign of the necessary standing and experience; and is inviting those whose names are given in the enclosed list9 to form a committee for such consultative [Page 497]purposes. This Committee will I hope in due course study various concrete proposals, looking towards the inception of prudent and progressive economic development in various directions.

I am writing to invite you to join this Committee, and sincerely hope that you will be in a position to give the Chinese Government your good counsel in this way.

Monsieur Jean Monnet10 has accepted my invitation to act as Chairman of this Committee and will shortly come to China. Every facility will be afforded to him so as to render the work of the Committee expeditious and fruitful.

  1. Copy transmitted to the Department by the Secretary of State, from London on July 20; received August 2.
  2. Partner, J. P. Morgan & Co., New York; representative, American Group, China Consortium.
  3. List not attached to file copy of this document.
  4. French banker.