893.5151/972: Telegram

The Ambassador in China ( Gauss ) to the Secretary of State

2298. 1. Kung wrote to their man November 23 instructing Board to stop purchase and sale of foreign exchange from November 30 and informing him that business previously transacted by Board will in future be handled by Central Bank and Exchange Control Commission. Understand latter body is being organized with Kung as chairman, [Page 476] K. P. Chen (if he will accept) and O. K. Yui95 as vice chairmen, Jian Chen, Pei, Kwok and Tai of Ministry of Finance as members and Dr. Chen as General Secretary.

2. Board at meeting of November 29 decided to wind up its affairs subsequent to receipt of instructions from Kung. From Adler to Secretary of the Treasury. Re your 1690, November 24, some doubt existed at meeting as to whether affairs could be wound up by year end and I’m accordingly suspending judgment as to date of resignation until matters clearer.

  1. Chinese Vice Minister of Finance.