The Secretary of State to the Acting Secretary of State
[Received August 2.]
Dear Mr. Phillips: Dr. Soong of China sent the enclosure19 to me some days ago by the Chinese Ambassador to Russia, Dr. W. W. Yen, who is in the city. They propose some sort of economic cooperation presumably under the auspices of the League of Nations agencies which would somewhat parallel the cooperation recently referred to in the way of the selection of leading persons in several countries to act as advisers for the economic reconstruction of China.
I stated to Dr. Soong who came in this morning that I had sent the enclosures to the Department for such consideration as might be [Page 502] deemed advisable. I stated to him that the Japanese are reported to be closely observing these economic cooperation plans of China with the view of lodging objections to the course of other nations in that connection if any ground at all can be found.
With my best regards [etc.]