Foreign Relations of the United States, 1947, The Far East: China, Volume VII

611.9331/10–247: Telegram

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

Nanking , October 2, 1947—6 p.m.
[Received October 2—6:27 a.m.]

2016. When Embassy representatives October 2 informed Governor Central Bank substance your telegram 1101, September 3, 4 p.m., he replied that he and K. P. Chen³⁰ had proposed that UTC activities should consist of following in future: (1) liquidation paper commitments; (2) purchases on Chinese Government account from private commercial channels in United States; (3) promotion of Chinese exports without, however, any participation in their commercial disposal.

In Embassy’s opinion this proposal constitutes basis for discussions here and in United States. For Department’s information, K. P. Chen stated to Embassy official in Shanghai last week-end that CSC³¹ staff being drastically curtailed.

Sent Department 2016; repeated Shanghai 817.

Stuart

30. President of the Universal Trading Corporation.
31. Chinese Supply Commission, official Chinese agency in Washington handling procurement of lend-lease shipments. It was dissolved on August 1, 1947, except for completion of “old business”, and its functions were transferred to the Universal Trading Corporation.