The Secretary of State to the Leader of the Tibetan Trade Mission ( Shakabpa ), in New York
My Dear Mr. Shakabpa: I have the honor to acknowledge the receipt of your letter dated August 7, 1948 addressed to the Secretary [Page 780] of State in which you request that the United States Government make available for purchase and subsequent export to Tibet fifty thousand ounces of gold for the stabilization of the Tibetan currency.
Application to purchase gold from the United States Government should be submitted to the United States Treasury through the Federal Reserve Bank of New York. The Department of State is informed that the Treasury Department is willing to sell gold to the Government of Tibet for the stabilization of the Tibetan currency.
In connection with your suggestion that the United States Government raise with the Government of India the question of trade and exchange controls exercised over transactions between Tibet and other countries, it is not believed to be appropriate under the circumstances for the United States to interfere in this matter.
Director Office of Financial and Development Policy