Chapter XXXIX: Appendix: III

DEPARTMENT OF COMMERCE
Office of the Secretary
Washington

May 12, 1919.

Hon. Sun Yat Sen, 29 Rue Molière, Shanghai, China.

YOUR EXCELLENCY:

I have read with the greatest interest the project for the International Development of China enclosed in your letter of March 17th, and agree with you that the economic development of China would be of the greatest advantage, not only to China, but to the whole of mankind.

The plans you propose, however, are so complex and extensive that it will take many years to work them out in detail. You doubtless are fully aware that it would take billions of dollars to carry out even a small portion of your proposals and that most of them would not be able to pay interest charges and expenses of operation for some years. The first question to be decided, therefore, is how the interest charges on the necessary loans could be met. The revenues of the Chinese Republic are already too heavily burdened with the interest charges on existing Government loans to warrant further charges, and hence it would seem necessary for the present to limit the projects for development to those which seem sufficiently remunerative to attract private capital. The government of the United States has consistently endeavored to manifest its disinterested friendship for the people of China and will undoubtedly coöperate in every proper way in proposals to advance their best interests.

Please accept my thanks for your kindness in submitting your proposals.

Respectfully,
(Signed)
WILLIAM C. REDFIELD,
_Secretary_.

APPENDIX IV

Il Ministro Delia Guerra

Rome, 17 Maggio, 1919.

Most Honorable Sun Yat Sen, 29 Rue Molière, Shanghai, China.

HONORABLE SIR:

I thank you for having so kindly communicated to me the interesting project regarding how to employ through an International Organization the exuberant industrial activities created by the war, in order to exploit the great hidden riches of China.

Though aware of the practical difficulties which present themselves in the accomplishment of this project, it meets with my utmost appreciation, I assure you, for the modern spirit by which it is animated and for the depth of its conception.

Accept my best wishes for complete success, in the advantage of your noble country and for the interest of humanity.

Believe Me,
Faithfully yours,
(Signed)
GENERAL CAVIGLIA.