MINUTE SHEET.
ReferencelJSET:!
UU 7
I have spoken to Mr. Warren Pierson
again and he tells me that the Export Import Bank
credit of $20 million to China has now been arranged,
The Chinese are going to try to amortize the loan
if they can in seven years by deliveries of tin.
No arrangements have been made for the delivery of
any other commodities, such as wolfram, for the
purposes of this new loan.
Perhaps you would take some opportunity of
enquiring in the State Department if there is any
truth in the report that the Chinese are negotiating
for the purchase of war material.    The terms of the
new act preclude the Export import Bank from giving
them any further credit beyond the new #20 million,
and that can only be used for the purchase in the
United States of goods other than war material.
The Chinese must thus find other resources if they
wish to purchase war material here.
April 29th, 1940
Chancery
Mr. Ashton-Gwatkin
C. C.
GHSP:DH
(112) W87tf50
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