CO129-382 - Public Offices - 1911 — Page 353

[This Document is the Property of His Britannic Majesty's Government.]

(

AFFAIRS OF CHINA,

CONFIDENTIAL.

[January 19.]

SECTION 2.

5712

2351

[1368]

(No. 17.) Sir,

No. 1.

Sir Edward Grey to Six J. Jordan.

Foreign Office, January 19, 1911. I HAVE received your despatch No. 461 of the 22nd ultimo, reporting the signature of an agreement for a loan of 3,000,000 taels to relieve financial stringency at Nanking on the 11th ultimo by the Financial Commissioner on behalf of the Viceroy of the Liang Kiang and representatives of the three European banks partici- pating in the loan, viz., the Hong Kong and Shanghai Bank, the Deutsch-Asiatische Bank, and the Banque de l'Indo-Chine.

I entirely concur in your view as to the undesirability, in the present condition of China, of this system of desultory provincial loans, and I approve your action in suggesting to the Hong Kong and Shanghai Bank that future loans of the kind should be consolidated into one Imperial loan.

[1850 -~2]

I am, &c.

E. GREY.