893.515/497: Telegram
The Secretary of State to the Minister in China (Johnson)
99. On March 28 Atherton called by request on Sir Warren Fisher of the British Treasury. Fisher stated that the British Government contemplated sending a central bank economic technician to China to be attached to the British Legation; that the British hoped that the American, Japanese and possibly French Governments would do likewise, the idea being that these technicians could in consultation with the Central Bank of China and each other study China’s economic and monetary ailments and advise their respective Ministers. He added that political questions would continue to fall solely within the province of the Ministers. The evident undercurrent of Fisher’s thought, admitted to Atherton, was that under present circumstances the only way to reduce tension in the Far East is by direct negotiations between China and Japan and that the contribution of the western powers would be something in the nature of a forum to assist in the successful outcome of such negotiations. Fisher said that on March 30 the British Government would send forward an instruction to the British Minister to China to inform the Chinese Government of the British policy in attaching a technical expert to the Legation.
The Department telegraphed London that the question of the American Government likewise sending a bank economic technician [Page 568] to be attached to the Legation at Peiping will be given consideration; that we would appreciate being informed of the Japanese and French replies, when available; and Department inquired, in connection with the question of direct negotiations between China and Japan, what Fisher’s conception was of the nature and functions of a suitable forum. In reply London reports that Fisher believes that if these technical conversations, arising out of China’s request last year for a stabilization loan, could be carried out harmoniously under the diplomatic missions, the western powers would have contributed a foundation to what might later prove to be an approach in a less tense atmosphere to outstanding Sino-Japanese questions.