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is at the moment no satisfactory alternative to the policy of financial co-operation (with America, Japan and France) in China such as might justify our withdrawing from the Consor tium Agreement.
That these considerations make it insdvisable for us
to insist on an absolute monopoly for Great Britain of all
orders placed from the Indemnity funda.
4. That, spart from this, we should do our very best to get orders from these funds for British firms, but that this
can better be done through personal relations on the spot than
by paper agreements, such as the Chinese are very adept at
@vading »
5. That, as regards the Reiss, Massey contract, the
Governor of Hongkong's recommendation was based on inadequate
knowledge, and that no encouragemont can be given to it, since
it appears to be contrary to existing obligations.
6 That if the Chinese do succeed in evading the Con-
sortium, we must ourselves be in a position to prove to our
Consortium partners that this is due to no encouragement en
our part and that we have derived no exclusive profits there-
from.
FOREIGN OFFICE.
July 1st, 1929.
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