File No. 893.51/1826
The Secretary of State to Minister Reinsch
Washington, November 14, 1917, 5 p.m.
Your November 2, 10 p.m., and November 10, 2 p.m. The Department has received from London a telegram stating that the Japanese Government was earnestly desirous of having the requested advance of 2,000,000 pounds made in order to rehabilitate the Bank of China, which was considered to be a very urgent matter owing to the depreciation of its notes and depression in trade due thereto and losses to native and foreign merchants. His Britannic Majesty’s Government, desiring to meet the wishes of Japan, so informed the British Group which instructed its representatives in Peking to consent to the proposed advance.
For your information and guidance. The Department is arranging a conference with bankers in an endeavor to have an American Group participate in the proposed loan.