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re-iterated assurances of the Japanese Government
to respect and protect legitimate forsign interests
in that part of China in Japanese occupation, I feel
confident that, in pursuance of these assurances,
Your Excellency will be good enough to take the
necessary measures with the Japanese and Chinese
authorities in occupied China to restrain them from
proceeding with their plans for the establishment
of this new bank of isme. I need hardly point out
that this new bank could only operate with any
semblance of success if accompanied in the areas in
which it is to operate, by trade må exchange con-
trol prejudicial to all established non-Japanese
interests.
This is, as you are aware, the situation
which has already arisen in North China as a result
of the attempts to establish as the sole currency of
that area the inconvertible note issue of the Federal
Reserve Bank.
Believe me,
dear Minister,
Yours very sincerely,
(S) R. L. CRAIGIE
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