Office of the Historian

893.51/3–447

Memorandum by the Secretary of State to the Director of the Office of Far Eastern Affairs (Vincent)

[Washington,] March 4, 1947.

Re: Chinese Loans

I have gone over your memorandum of February 28 on the above subject, and also Mr. Bennett’s memorandum to you of February 20.

I am in general agreement with your analysis of the requirements.

What I would like you to do is to press in my name Mr. Martin and the Export-Import Bank Directors for favorable consideration of the loans for the Hankow–Canton–Kowloon Railroad, for the new Tangku Harbor, and for an initial loan for the reconstruction of the coal industry. The other items are important but as a beginning I would like to have you press for the three items listed above.

I think the time has come when we must take some prompt action towards the rehabilitation of certain specific industries.

Please explain to Mr. Martin that I do not find the time to speak to him personally about the above but I am hopeful for favorable consideration.

G. C. Marshall