893.5151/8–1746: Telegram
The Consul General at Shanghai (Davis) to the Secretary of State
[Received August 17—4:30 a.m.]
1502. Eyes alone John Carter Vincent. From Adler to Secretary of Treasury. Arrived Shanghai 16th. Governor Pei telephoned me from Nanking asking me to await his return Shanghai. Saw him this morning when he informed me that T. V. Soong and he had obtained Generalissimo’s consent to adjustment of exchange rate and abolition of export duties to go into effect Monday morning 10 a.m. Shanghai time. Announcement will be made to press late Sunday night. He said the adjustment would probably be to between 3250 and 3350 CN to the U. S. dollar and asked to inform you earliest possible.44
Sent Department 1502; repeated Nanking as 849. [Adler.]
- Exchange rate was established at 3350 CN to one U. S. dollar.↩