893.5151/987: Telegram
The Ambassador in China (Gauss) to the Secretary of State
[Received 1:53 p.m. |
305. To Secretary of Treasury from Adler. Kung has asked me to transmit following addendum to the message sent in my 252, February 8.
[Page 873]“Attention was brought, in the first paragraph of my previous message, to the rise in the U. S. dollar currency black market rate, which was caused in part by the rumor that America is asking for reduction in the official exchange rate.
The position has since considerably deteriorated, transactions having occurred at rates up to 195; naturally, this increase impairs confidence with the diffusion of the impression that the rate will be reduced and we may anticipate its contributing further to the rise in prices. I desire to call the circumstances to your attention so that in your consideration of current questions you may be guided accordingly.”
Above paraphrase. [Adler.]