893.5151/11–1048: Telegram
The Ambassador in China (Stuart) to the Secretary of State
[Received November 10—10:01 a.m.]
2166. In light thoroughly disorganized economy China with gold yuan cascading hourly and acting on authority implied by absence as yet reply to Shanghai ConGentel 2287, November 2, repeated Nanking 1731. Embassy has reluctantly authorized all Consulates China to make own local arrangements through recourse to black market for gold yuan requirements. With informal agreement of Central Bank, Mukden and Tihwa have been operating this basis. Treasury Attaché has been instructed inform Central Bank of our appreciation Bank’s efforts cooperate on basis informal agreement of October 29, 1948, but that Bank will understand necessary under present conditions each post possess freedom to make its own arrangements locally.