893.515/1053: Telegram
The Consul General at Shanghai ( Gauss ) to the Secretary of State
Shanghai
, April 25,
1936—11 a.m.
[Received April 25—7:40 a.m.]
[Received April 25—7:40 a.m.]
231. Finance Minister Kung yesterday informed press that time limit for exchanging silver for legal tender notes which expires on May 3 would probably be extended several months. I am informed by reliable source that there is developing in China an increasing tendency to surrender silver and that since November 3 when managed currency was established 175,000,000 silver dollars exchanged for notes making the total of Government’s stocks of silver about 400,000,000 silver dollars.
Repeated to Peiping. Nanking by mail.
Gauss