893.51/3569: Telegram

The Minister in China (Schurman) to the Secretary of State

391. My 388, November 10, 1 p.m.28 Proposed loan for administrative purposes would merely postpone public acknowledgment governmental insolvency. Signs of collapse forecast, my 367, Oct. 22, 4 p.m., increase. Chinese newspapers anxiously discussing financial situation and bankers manifesting uneasiness. Peking judges threaten strike, also clerks in Government departments if salaries in arrears some months not paid. Ministers War, Navy, Justice, handed in resignations; Premier desires to quit. Desperate efforts will be made to stave off climax till after close of Washington Conference.

Schurman
  1. Not printed.