800.515/624: Telegram

The Chargé in China ( Vincent ) to the Secretary of State

588. I learn from a reliable source that the following views concerning the forthcoming monetary discussions have been telegraphed from Washington to the Chinese Government.

While British and American plans fundamentally similar technically, they differ politically, the former tending to strengthen the political position of the British Empire and the latter that of America.
Both plans would make it impossible for countries remaining outside contemplated international monetary arrangement to obtain external financial assistance and would at the same time involve encroachment on sovereignty of countries joining arrangement with respect to monetary and economic affairs.
Both United States and United Kingdom anxious that Russia should join arrangement and willing to give her greater role in scheme than her economic and financial strength alone would justify. Dr. Soong39 therefore recommends that China should use her political bargaining power to get same advantageous treatment as Russia. He advises Chinese Government to treat forthcoming discussions as essentially diplomatic and political and not technical in character and to take this factor into consideration in appointing head of delegation.

With regard to 3 above, high Chinese official has informed me of his understanding that America is making strong bid for Russian [Page 1071] adherence to the American plan and that British are making similar bid for support of their plan. Official thought that British had greater chance of success but this may derive from the fact that he himself prefers British plan.

  1. T. V. Soong, Chinese Minister for Foreign Affairs, temporarily in Washington.