The Secretary of State to Mr. Thomas W. Lamont, of New York

My Dear Mr. Lamont: This Department has given further consideration to your letter of November 19, 1945 and the Memorandum on International Consortium of Bankers for the Assistance of China, attached thereto. You request the opinion of the Department with regard to the usefulness of maintaining the existence of the China Consortium, at least so far as concerns the American Group members.

This Department is in agreement with your view that no useful purpose would be served in existing circumstances by continuing the Consortium, either with or without the American Group members.

Sincerely yours,

For the Secretary of State:
Emilio G. Collado

Deputy on Financial Affairs to the Assistant Secretary for Economic Affairs