893.51/1–845: Telegram

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

40. For Adler2 from the Secretary of the Treasury.3

The Chinese Government is strongly urging me to give permission to export on commercial vessels large quantities of gold to China to the extent of $80 million worth of gold bars and $100 million of gold tokens. With the arrangements which they are prepared to make with the shipping companies it would be comparatively simple for the Chinese to export another $100 million or more of gold in the very near future.
In view of the current situation in China and of the need of the Chinese for conserving their foreign exchange resources for postwar needs, I have thus far not given my permission to the above requests.
I want you to discuss this matter thoroughly with General Hurley and inform me as quickly as possible of his views. [Morgenthau]
  1. Solomon Adler, Treasury representative in China.
  2. Henry Morgenthau, Jr.