893.515/1064
Memorandum by the Under Secretary of State (Phillips)
Mr. Wayne Taylor called me on the telephone today to say that the Treasury had acted on the State Department’s suggestion and had intimated to the Chinese financial representatives that it might be wise for their Government to inform the British and Japanese of the arrangements just made with the American Treasury before making any official announcement; the Treasury had emphasized that this was entirely up to the Chinese Government to do or not to do as they saw fit, but that, nevertheless, in the opinion of the United States Treasury, it might be a helpful step to take.
According to Mr. Taylor, the Chinese representatives received the suggestion very favorably. Furthermore, Mr. Taylor advised me that the exchange of “notes” between the Treasury and the Chinese would probably take place on Monday next, but there was a possibility of the exchange on Saturday next.