893.51/76695
The Chinese Ambassador (Wei) to the Secretary of the Treasury (Morgenthau)47
My Dear Mr. Secretary: I have the honor to inform you that I have just received from Dr. H. H. Kung, Minister of Finance, the following telegraphic message, dated July 23, 1943, for transmission to you:
“The Chinese Government greatly appreciates the financial aid accorded to China by the U. S. $500,000,000 credit of last year. Of this credit U. S. $240,000,000 have been allocated for special purposes. In order to strengthen China’s monetary situation and check inflation, which are included in the objects for which the credit was established, the Chinese Government now requests the transfer of an additional sum of U. S. $200,000,000 from the credit for the purchase of gold. It is intended to transport the gold to China to be sold in order to withdraw currency from circulation and thus help to check the price increase. Prolongation of the war in China into the seventh year brings constantly growing strain and difficulty, and the Chinese Government will greatly appreciate your kindly acceding to this request. I have authorized Dr. P. W. Kuo and Mr. Hsi Te-mou to discuss with you the detailed arrangements.”
I am [etc.]
- Forwarded on August 5 by E. M. Bernstein of the Division of Monetary Research, Treasury Department, to Troy L. Perkins of the Division of Far Eastern Affairs.↩