The Chinese Minister for Foreign Affairs (Soong) to the Assistant Secretary of State (Clayton)

Dear Mr. Clayton: To keep you informed and complete your file I enclose copy of reply from Mr. Morgenthau to my letter of the ninth.

Frankly, I am disappointed with the letter, because the Treasury may be using the same tactics it has adopted toward gold shipments in the past, namely, while not willing to admit non-compliance with its own commitments, it has been stringing gold shipments along in very small quantities that would not meet our needs.

Until I get a more definite commitment from the Treasury I feel I am unable to leave for San Francisco.

Yours sincerely,

Tse Vun Soong

The Secretary of the Treasury (Morgenthau) to the Chinese Minister for Foreign Affairs (Soong)

Dear Dr. Soong: I am replying to your letter of May 9, 1945, regarding our discussions on gold and the establishment of a $500 million fund. I shall be glad to have your reply on the fund suggestion as soon as you have heard from the Generalissimo.

As I informed you yesterday, the Treasury will consider steps to accelerate gold shipments to China.

Sincerely yours,

H. Morgenthau, Jr.