893.515/801
Memorandum by the Under Secretary of State (Phillips)
The Chinese Ambassador told me that he had called last evening upon Secretary Morgenthau to inform him confidentially that the Chinese Government desired to sell 100,000,000 ounces of silver in two 50,000,000 lots. Mr. Morgenthau replied that he would give the matter consideration, would speak to the President, and would give him an answer later.
The Ambassador was particularly anxious that the State Department should know of the step which he had taken in the conference with Mr. Morgenthau.
Mr. Morgenthau has asked the Ambassador to secure for him information with regard to China’s financial program.