Papers Relating to the Foreign Relations of the United States, With the Annual Message of the President Transmitted to Congress December 3, 1912

File No. 893.00/1347.

The American Minister to the Secretary of State.

[Telegram.—Extract.]

American Legation,
Peking, June 24, 1912—10 p.m.

Bankers to-day submitted plan sent from London for supervision and control of loan expenditures, including foreign administration of salt gabelle, to the Minister of Finance. The plan was emphatically rejected. It is not anticipated that any adequate control can be secured. Apparently groups will have to break off negotiations for a while at least.

Calhoun.