893.5151/897: Telegram
The Ambassador in China (Gauss) to the Secretary of State
Chungking, July 6,
1942—3 p.m.
[Received July 6—1:50 p.m.]
[Received July 6—1:50 p.m.]
798. Following for Secretary of Treasury from Adler:
TF–47. Chairman of Board informs me Dr. Kung wrote to board on July 1 that:
- 1.
- He duly notes contents of memorandum submitted to him by Board April 16 with respect to proposed reduction in exchange rate to United States 5 cents. (This memorandum was summarized in 1 of TF–28, April 17[18].77
- 2.
- He suggests that the official rate be changed to United States 5 cents as of July 10.
Chairman has called meeting of Board for July 8 which will presumably act favorably on this suggestion. Chairman asks me to notify you that his regret that Board has to take action on exchange rate without American representation was tempered by fact that Treasury did not object to proposed reduction in April. [Adler.]
Gauss