893.51/2292
The Acting Secretary of State to the Japanese Chargé (Debuchi)35
Sir: Referring to previous correspondence regarding the organization of a new International Consortium for financial business in China I have the honor to inform you that I have instructed the American Embassies at Paris and London to inform the French and British Governments that the Department will accept as an interpretation of the bankers’ agreement of May 12th the following slightly modified form of the formula submitted by the French Government:
“The Governments of each of the four participating groups undertake to give their complete support to their respective national groups members of the consortium in all operations undertaken pursuant to the resolutions and agreements of the 11th and 12th of May, 1919, respectively, entered into by the bankers at Paris. In the event of competition in the obtaining of any specific loan contract the collective support of the diplomatic representatives in Peking of the four Governments will be assured to the consortium for the purpose of obtaining such contract.”
You will note that the principal change is in pledging each Government to the support of its respective national group rather than to the consortium collectively. This proposed change makes the formula more in accord with the actual facts and with the established practice of this Government.
The American Ambassador at Tokyo is being instructed to communicate the above to the Japanese Foreign Office.
Accept [etc.]
- Essentially the same, on the same date, to the British and French Chargés.↩