893.51/7690: Telegram

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

629. To Secretary of Treasury from Adler. Reference my TF–115.17 It will be noted that the articles summarized are somewhat vague which is partly due to fact that Ministry of Information has issued instructions for newspapers not to take any definite stand until further notice. Nevertheless, these articles reflect the two dominant and conflicting trends in the Chinese approach to postwar problems, both in the monetary sphere in particular, and the economic in general; namely, a strong and assertive nationalism on the one hand and recognition of the need for external assistance on the other. The trend towards an assertive nationalism receives support from the very highest quarters—I understand that in the draft of the new book the Generalissimo is writing on economic policy he favors high protective tariffs, strict exchange control, et cetera (the article summarized from the China Times was written by Chu Ping-nan, member of the Generalissimo’s so-called brain trust). There is a sufficient body of realistic opinion in the Government to make it likely, however, that China will cooperate with friendly powers whenever specific questions involving such cooperation arise of which a clear instance is afforded in the discussion reported in TF–114.17a [Adler.]

  1. Not printed; it submitted a summary of press comment on schemes for international monetary stabilization.
  2. Telegram No. 621, April 29, 5 p.m., from the Chargé in China, p. 850.