893.51/7701: Telegram

The Chargé in China (Atcheson) to the Secretary of State

1329. From Adler to Secretary of Treasury only. TF–144.

Learn from reliable sources that Dr. Kung called a meeting of monetary experts early in week to consider what revisions China should propose to 1941 Agreement. Consensus of meeting favored maintenance of Board. Dr. Kung suggested that China should propose only a few revisions, one [none?] of them drastic. There is strong ground for believing that Kung’s attitude is due to his desire to obtain Treasury consent to proposed purchase of gold. For your information, Kung does not realize that 1941 Agreement has elapsed.
Reference your 967, July 26:
If Treasury envisages future reestablishment of counterpart of Board to facilitate post-war monetary cooperation, it would be preferable to preserve continuity. If not, there is no strong reason for my not resigning.
Please inform me at earliest convenience whether I should submit resignation as from June 30 or as from date when Board is actually wound up. Am waiting your reply before taking action.