800.515/635b: Telegram

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

534. For Adler40 from the Secretary of the Treasury.

Part I. Please transmit the following message to Dr. Kung:41

To Dr. Kung from Secretary Morgenthau: In connection with the U.S. Treasury’s preliminary draft of a proposal for an International Stabilization Fund of the United and Associated Nations, which was forwarded to you through Mr. Hsi Te-mou,42 I would appreciate if you would inform me when Chinese technical experts might be expected to come to Washington to give your preliminary reaction to this draft proposal and to discuss with our technical experts the feasibility of international monetary cooperation along the lines suggested in our draft proposal.

Part II. Please make clear to Dr. Kung in transmitting this message to him that the technical experts are being requested to come to Washington for preliminary discussions of an exploratory character. It is desired to complete bilateral exploratory discussions between the Chinese experts and the United States experts before beginning informal group meetings of experts which are to be held soon, if possible. These informal meetings of experts are not be confused with a formal conference of Finance Ministers which will be called for at a later date, if an adequate area of agreement emerges from the discussions among the experts. [Morgenthau.]

  1. Solomon Adler, Treasury representative, American member of the Stabilization Board in China.
  2. H. H. Kung, Chinese Minister of Finance.
  3. Representative of the Chinese Ministry of Finance in Washington; Director of Central Bank of China and Bank of China.