893.515/1307: Telegram

The Ambassador in China (Johnson) to the Secretary of State

225. Tokyo’s 281, April 28, 6 p.m.23 I have an idea that one of the matters which is disturbing the British on the currency situation in North China is the reported purchase of the currency of the new bank by the British-American Tobacco Company (see Tsingtao’s April 20, 9 a.m.23). I understand that the Chinese protested to the British Embassy in regard to this matter (see my 210, April 21, 3 p.m.23) but doubt whether it would be wise for us to become conspicuously interested in the question of this exchange, and with the Department’s approval I shall instruct the Consulates at Tientsin, Tsingtao and Shanghai and the Embassy at Peiping to keep me currently informed in regard to economic conditions in North China and the effects thereon of the new Federal Reserve Bank currency.

Repeated to Shanghai, Shanghai please repeat to Tokyo.

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