893.51/6371: Telegram

The Ambassador in China ( Johnson ) to the Secretary of State

195. Department’s 107, May 4, noon, from Export-Import Bank for Pierson.

Pierson informs that clearance required of me relates to question of political expediency rather than question of credit status. From a political point of view I see no reason why Bank should not be allowed undertake this business. I understand Pierson has recommended participation by Export-Import Bank on basis of securing a satisfactory bank guarantee or its [equivalent?].
Sent to the Department, by courier to Peiping and Shanghai.