893.5151/905: Telegram
The Ambassador in China (Gauss) to the Secretary of State
[Received 10:36 p.m.]
1243. TF–67 to Secretary of the Treasury from Adler. Am reporting an informal conversation with Dr. Kung on October 28 which supplements and corroborates preliminary findings of T6366 [TF–66].92 He expressed strong opposition to either institution of special rate or reduction in official rate. With respect to former he said he preferred an outright subsidy to United States Army in China. With respect to latter he said external value of Chinese currency has attained lowest point in history; any further reduction in rate would render it valueless. The only concession he would consider was to continue to wink at sale of United States currency notes in black market. [Adler.]
- Telegrams No. 1235, October 28, 3 p.m., and No. 1236, October 28, 4 p.m., supra. ↩