893.51/7694: Telegram
The Chargé in China (Atcheson) to the Secretary of State
Chungking, June 3,
1943—3 p.m.
[Received June 4—10:25 a.m.]
[Received June 4—10:25 a.m.]
842. TF–127. To Secretary of Treasury from Adler. Re your 658, May 24.
- 1.
- Have submitted your proposals to Board and Dr. Kung and will report their views on each at earliest opportunity.
- 2.
- Re your 1 (d), I support extension of permission to make remittances to Hong Kong and Shanghai Bank on following grounds: (a) when and where possible it is desirable to help to mitigate or counteract existing unhealthy trend towards monopolization of business in hands of government or semi-government institutions. This is desirable from point of view of Chinese as well as foreign business interests; (b) granting permission to Hong Kong and Shanghai Bank will serve as precedent for subsequent inclusion of American banks which may decide to open branches in free China. [Adler.]
Atcheson