File No. 893.51/1835
The Secretary of State to Ambassador Sharp 22
Washington, November 22, 1917, 3 p.m.
2838 Department has received today from American Legation at Peking telegram saying that the French Group there, as well as the [Page 157] British, offers no objection to the proposed advance by Japan of 2,000,000 pounds on the contemplated currency reform loan to China. The Minister adds that neither the British nor the French Group will be able to participate. The Minister states that it is feared advantage may be taken by the Japanese of existing disorganization of China to make such advance upon terms which might hereafter restrict the financial independence of China. You are instructed to inform the French Foreign Office that the American Government earnestly recommends that the French Group participate in the proposed immediate advance of 2,000,000 pounds.
The United States Government is considering the formation of an American Group to participate in the proposed currency loan to China. Should the French Group decide to participate in the initial advance as suggested the American Group when organized might consider a proposition to carry temporarily the future participation of the French Group in the loan.
Department considers it very important that the French Group should participate in the initial advance of 2,000,000 pounds and you are instructed to urge upon the Government of the French Republic that this be arranged. We are telegraphing similarly to London with respect to the participation of the British Group.
- Mutatis mutandis to the American Embassy at London (No. 5876).↩