893.51/2285
The Acting Secretary of State to the Chinese Chargé (Yung Kwai)
Memorandum
The Memorandum of the Chargé d’Affaires ad interim of China, dated June 30 [20], 1919,34 and relating to the proposal of the Government [Page 463] of China to negotiate immediately with the new International Consortium a loan of about $50,000,000, was promptly referred to the American Group of bankers, members of the proposed new consortium, for their consideration.
A reply has now been received from the American Group to the effect that a necessary condition precedent to any such loan negotiation would be the completion of the new consortium, which as yet has not been formally accomplished.
Another necessary condition, in the view of the Department of State, would be a substantial agreement between the contending political parties in China.