893.51/3021: Telegram
The Minister in China (Crane) to the Secretary of State
[Received October 25—6:34 p.m.]
344. My telegram number 323, October 15, 10 p.m. This morning four new consortium group representatives informed Chinese Ministry [of] Finance they neither collectively nor individually would consider loans for any purpose unless authorized by new consortium. It appears Chinese as yet refuse to recognize or appeal to the consortium although people starving and governmental needs desperate.
Inspired Chinese press articles against consortium create belief here present government will utilize alleged stringent terms consortium to secure submission to the government of militarists as only alternative to foreign control and other evils.
The [Minister] of Finance today recalled memorandum referred to in my number 265, September 23, noon. Legation does not consider his personal attitude [toward] consortium changed but suspects influence of Liang Shih-yi who opposes it.