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The Chinese Embassy to the Department of State 64

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Translation of a Telegraphic Message From His Excellency Dr. H. H. Kung, Dated Chungking, July 18, 1939

The question of foreign exchange has become very serious. There is not much Stabilization Fund left.

The foreign exchange sold recently was largely purchased by foreign merchants. According to reports received, a great part was acquired by the American Express Co., the National City Bank of New York and other American concerns. This is by no means a friendly act. So please do your best at your end to have such things stopped.

We are requesting the British to make an increase in the Stabilization Fund so as to enable its maintenance. But, as usual, the British will only follow the leadership of the United States.

In two years of our armed resistance, the strength of our enemy has been considerably spent. In a true sense we have been fighting the fight of the civilized world for peace, and we are confident that this objective is understood by the American leaders. As we are now facing a critical moment, we earnestly hope that the friendly nations will render us assistance.

At such a critical moment, fresh and substantial economic assistance from the American Government will do wonders to encourage our fighting forces and buttress our morale. I fully understand the conditions in the United States. If there should be unsurmountable difficulties, I hope the American Government would at least render us the assistance of finding some way to suggest to the British Government to make a substantial increase in the Stabilization Fund.

  1. Copy of telegram handed to the Chief of the Division of Far Eastern Affairs by the Chinese Ambassador on July 21.↩