493.11/1611: Telegram
The Minister in China (Johnson) to
the Secretary of State
Shanghai, February 27,
1932—noon.
[Received February 27—9:40 a.m.]
My February 26, 7 p.m. I have just received a personal note from
T. V. Soong in
which he states:
- “1. The customs revenue of Shanghai which occupies 45
percent of the whole country is down to almost nil.
- 2. The cultural purposes for which the American portion of
the indemnity is set aside have reserves more than
sufficient to last the year’s postponement requested by
us.
- 3. Arrangements have been made with the bondholders of
domestic bonds to lower interest rate and lengthen
amortization period because the financial stringency is
great.”
