Foreign Relations of the United States, 1949, The Far East: China, Volume IX

893.5151/5–2349: Telegram

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

Nanking, May 23, 1949—11 a. m.
[Received May 23—2:22 a. m.]

1088. [To Hankow:] In accordance paragraph 2, Deptel 536, April 29⁹² to Embassy, sent Hankow as Embcirtel May 8, Embassy concurs ConGen’s proposal comply surrender regulations if applied Hankow. (Refurtel 103, May 12.⁹³)

Embassy wishes suggest however highly desirable that if possible total surrender US dollars to be done under agreement with Communist bank authorities permitting periodic ConGen withdrawals against US dollar credit at going rate day withdrawal occurs. ConGen should keep in mind possible rapid depreciation lump sum local currency exchanged for ConGen’s US dollars. Working and intent any regulations issued should be carefully studied and ConGen should explore all possible methods of conserving US dollar assets in light of regulations and conditions existing locally at time surrender problem arises.

Sent Hankow 28, repeated Department 1088, passed Hankow.

Stuart

92. See footnote 63, p. 765.
93. From the Consul General at Hankow (Callanan) to the Ambassador in China; copy not found in Department of State files.