893.51/3–846: Telegram
The Counselor of Embassy in China (Smyth) to the Secretary of State
[Received 9:28 p.m.]
453. From General Marshall. New proposal made by T. V. Soong as follows. (ReDeptel No. 371 of February 28). Exchange of letters [Page 963] between China and Eximbank not to be published butChina unilaterally to release following statement in announcing loan.
“The Chinese Govt announces that the cotton purchased under the credit will be made available to privately owned textile mills of sound standing and engaged in legitimate business for process and manufacture on the same terms and credit as will be given to Government-operated mills”.
Soong said he preferred to use phrase “on same terms and credit” rather than “without discrimination”, as former puts issue positively. I hope this proposal will be acceptable to Eximbank. (See Deptel No. 371 of February 28). [Marshall.]