893.24/2–1346: Telegram

The Secretary of State to the Embassy in China

298. For General Marshall from Colonel Davis: Army indicates Yuan indebtedness for calendar year 1945 will approximate Yuan $103 billion and for first half 1946 Yuan $10 billion. Navy estimates its Yuan indebtedness for 1946 to be approximately Yuan $840 million and states it is unable to estimate 1946 debt (Urtel 285, February 13). Treasury converting Yuan figures into US dollars but reluctant to give out US dollar figure until approved by Secretary Vinson or Mr. Harry White75—both of whom are out of city. Expect to forward Treasury views early next week. Above figures exceedingly tentative and further subject to minor exceptions which will be noted in succeeding cable. Army 1945 figure does not take into account billeting and food supplied by Chinese as reciprocal aid to War Area Service Command [Corps]. [Davis.]

  1. Harry Dexter White, Assistant Secretary of the Treasury.