[This Document is the Property of His Britannic Majesty's Government.]
CO 1168
AFFAIRS OF CHINA.
Qre 13 JAN 11
[October 30.]
SECTION 1,
CONFIDENTIAL.
[39444]
No. 1.
Mr. Max Müller to Sir Edward Grey.~(Received October 30.)
Peking, October 30, 1910.
(No. 180.) (Telegraphic.) P.
I AM informed that preliminary agreement for loan by American group of 50,000,000 dollars gold was sanctioned by edict yesterday. 10,000,000 dollars of this is said to be destined for industrial enterprises in Manchuria, the balance to be employed chiefly for the reform of the currency. The terms are given as, duration 45 years, price 95, and interest 5 per cent. The security is not yet agreed upon.
As far as I have been able to find out, the loan would seem to be offered without any conditions as to the control of the security or of the proceeds, and if that is the case, I do not consider that under the conditions at present obtaining in China it is to her best interests to conclude a purely financial loan agreement for so large
an amount.
[2958 gg-1]
171
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