893.24/1601: Telegram

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

724. Embassy’s 825, June 1, 10 a.m.

Embassy is authorized to take advantage of new rate pending the outcome of reverse Lend-Lease negotiations. However, Department desires that no action be taken which might prejudice negotiations in regard to reciprocal aid, which the Department feels offers the most satisfactory solution of the exchange problem unless the Chinese authorities are prepared to lower the official rate sufficiently to make it comparable to the exchange relief anticipated from reverse Lend-Lease and to make such further revisions as may be necessary.
Above authorization includes offices of Military and Naval Attachés and other official civil establishments mentioned in the reference telegram. It is assumed that all other official civil establishments of this Government, such as Treasury and Lend-Lease, are entitled to take advantage of the new rate.