U.S. State Department (December 14, 1943)
893.5151/976: Telegram
The Ambassador in China to the Secretary of State
Chungking, December 14, 1943 — 8 p.m.
Urgent
2417.
To Secretary of Treasury from Adler. …
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I indicated that the price of United States dollars had become an outstanding issue for all United States Government agencies in China relations and that the working out of a satisfactory arrangement was advisable from point of view of Sino-American relations. Kung replied that “the Generalissimo had said no.” When I inquired again into the possibility of the sale of gold, Kung informed me that Chinese Government sales had been quite small, its policy being to buy back a substantial part of what it had sold to keep up price which is now around CN 13,000 per Chinese oz. selling in Chungking.
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Kung intimated that Generalissimo had discussed exchange rate with President in Cairo but did not inform me of content of discussion.
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GAUSS