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[This Doenmant is the Property of His Britannic Majesty's Government.]
19607
471
AFFAIRS OF CHINA.
CONFIDENTIAL.
RECO REG 16 JUN 11
[17856]
No. 1.
لد
[May 11.]
SECTION 2.
1 r
Dear Sir Francis,
11
25%
Mr. Addis to Foreign Office.~(Received May 11.)
Hong Kong and Shanghai Banking Corporation,
31, Lombard Street, London, May 10, 1911.
I ENCLOSÉ a copy of the agreement for the Chinese Currency Reform and Industrial Development Loan for 10,000,0007.,* which was signed at Peking on the 15th April, by representatives of the Board of Finace on the one hand and of the American group, the Hong Kong and Shanghai Banking Corporation, the Deutsch- Asiatische Bank, and the Banque de l'Indo-Chine on the other."
I also enclose a copy of the programme of currency reform: referred to in article 8 of the agreement, the acceptance of which by the banks is a condition precedent to the issue of the loan.
The banks are allowed a period of six months in which t examine the programme, and it is intended to convene a conference of British, American, German, and Frenchi delegates for this purpose as soon as possible.
In view of the far-reaching effects on British commerce involved in any change in the currency of China, I cannot but feel: that the British delegate incurs a heavy responsibility for his share in this international attempt to make operative the undertaking given by the Chinese Government to Great Britain in article 2 of the Mackay Treaty of 1902.
Under these circumstances, I should be glad to know if His Majesty's Govern. ment would be prepared to assist in the examination of the Chinese proposals for the reform of the currency, referred to above.
* Printed with [17264].
[2023 1-2]
Yours truly,
C. S. ADDIS.
Not printed.