Papers relating to the foreign relations of the United States, 1929, Volume II

893.51/5176: Telegram

The Consul at Nanking (Adams) to the Secretary of State

Nanking, September 9, 1929—9 p.m.
[Received 10:18 p.m.]

Legation has instructed me to telegraph the Department regarding activities of Chinese Government committee for readjustment of foreign and domestic loans.

Representatives of both Ministry of Foreign Affairs and Finance assure me that the work of the committee is just beginning and that there is no foundation for press reports that foreign creditors will soon be invited to Nanking.

I am told that, while no decision has been reached, it is probable that Government obligations for materials supplied will be given same status as loans which have already fallen due and against which substantial securities were offered. I understand that Kemmerer Commission⁹¹ is doing some work upon classification of the Government’s financial obligations.

Despatch to the Legation, with copies to the Department, follows.⁹²

Adams

91. Commission headed by Prof. E. W. Kemmerer of Princeton, attached to the Chinese Ministry of Finance.
92. Not printed.