2
Shao-yi, as he had promised to do, and he made the excuse that he had arranged an interview with him when Tang's mourning for his wife had compelled him to go on leave, and he ended with the usual request to exercise still further patience till Tang took up his duties again.
I have, &c.
W. G. MAX MÜLLER,
[This Document is the Property of His Britannic Majesty's Government.]
146
621
CHINA RAILWAYS,
Re: 7 JAN ||
[December 14.]
CONFIDENTIAL.
SECTION 1.
[45233]
No. 1.
Memorandum communicated to Mr. Kato.
IN the memorandum communicated by the Japanese Ambassador on the 30th ultimo, summarising the agreement signed in London on the 10th ultimo by the representatives of the British, French, German, and American groups, it is stated that each of the four groups has agreed to bring into the common pool certain railway concessions appertaining to each of them in China.
This is not strictly the case, though it is true that the Hukuang Loan Agreement of 1909 between the British, French, and German groups, of which the present arrangement may be said to be a development, was the result of a compromise of the kind indicated in the Japanese memorandum, each of the three groups concerned surrendering its exclusive right to a specific railway concession in return for particpa- tion in those concessions acquired by the remaining groups.
The statements with regard to the scope, conditions, and period of the agreement as given in the memorandum are substantially accurate.
In regard to the points raised in the last paragraph of the memorandum, there is perhaps a tendency to ignore the fact that the currency loan for 10,000,0001. was in course of negotiation between the American group and the Chinese Government before the signature of the November agreement, and the matter was and still is one which primarily concerns the United States Government and American group, though the former have undertaken to use their best endeavours to persuade the Chinese Government to permit joint signature of the loan by all four groups at Peking.
As regards the object of the loan, it is understood that 6,000,0001. are to be devoted to the reform of the Chinese currency, and the remaining 4,000,000l. are "for Manchuria," which presumably implies industrial and commercial undertakings as yet undefined.
His Majesty's Government are not fully acquainted with the views of the French Government, but Sir E. Grey anderstands that they will reserve to themselves the right to examine all business proposed to the groups from the point of view of national interests.
Foreign Office, December 14, 1910.
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