893.51/7239: Telegram
The Secretary of State to the Ambassador in China (Gauss)
Washington, June 18,
1941—8 p.m.
120. For Fox from the Secretary of the Treasury. Reference your informative messages June 11 from Hong Kong4 and 239 June 15 through Embassy.
- 1.
- It is felt by the Treasury Department that the question of Rogers’ appointment or nonappointment is a matter entirely for the British Government to decide and for the Chinese Government to approve or disapprove. Treasury does not wish to influence decision for or against.
- 2.
- It is hoped by the Treasury that at the earliest practicable date five member Board as contemplated will be set up for business. The Treasury feels that the establishment of the Board should be given priority over exploration of economic and political problems.
- 3.
- The Treasury Department is contemplating, once the Board is established, writing the head offices in New York of American banks in China to solicit their cooperation with the Board in stabilizing the yuan. Treasury has heard rumors that some American banks, in Shanghai are showing signs of breaking away from the common front supporting fapi, because they feel that there are considerable advantages from their point of view in reaching an early working agreement with the F.R.B,5 Report any information which you may [Page 666] receive on this particular point which could be used in the Treasury’s approach to the New York banks.
- 4.
- On question of confidential clerical assistance, please consult our Embassy. [Morgenthau.]
Hull