102.1/3–447: Telegram
The Acting Secretary of State to the Ambassador in China (Stuart)
287. For Adler from Treasury. As matter of construction [it] would not appear phrase “for the time being” necessarily provided termination agreement. Realize may be easier secure new agreement present officials than recognition Pei agreement.
Agree no advantage Hong Kong rate at present, but desire periodic reports Hong Kong market, and meanwhile request retention our position on Hong Kong arrangement if at all possible. (Reurtel 436, Mar 4). For reasons stated Ourtel 65, Jan 15, desire details of other possible temporary expedients to be used in event that serious deviation black market from Central Bank rate recurs. [Treasury.]