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Show w New Policy in Regard To Loans to China I WASHINGTON, July 29 The new policy of approving loans by American Ameri-can bankers to China so that nation may be better ablo to defend itself against enemy forces 'approaching its borders, was announced today by tho state department. No specific amount of the loan was announced but it Is understood that $50,000,000 will be advanced. ad-vanced. By the terms of the agreement the bankers will represent different parts of the country. They will co-operate with the government and will submit for approval the names of tho banks composing the group to make foans and also the terms and conditions of any loans. For its part the department gives assurance Unit if the terms and conditions con-ditions of tho loan arc accepted by tho United States and China "the government govern-ment will take every possible stop to Insure the execution of equitablo contracts con-tracts made in good faith by citizens In foreign languages." Tho department also announced that it is hoped that the American bankers will bo associated with bankers of Great Britain, Japan and Franco nnd negotiations looking to such co-opora-lion are now In progress. nn |