893.51/11–646: Telegram
The Acting Secretary of State to the Ambassador in China (Stuart)
1002. For Adler from Treasury. Navy has informed Treasury (Reourtel 794, Sept 26 and Yourtel 1596, Oct 4) that yuan may be purchased with Treasury check from Central Bank at 3330 and from Appointed Banks at 3350. Also that rate 3500 for US currency notes has been offered to Navy by Appointed Banks. Request your views [Page 1020] on applicability of Central Bank Circular 59 or other regulation, restricting US currency, to purchases by Navy from Appointed Banks. Navy is being informed that there is no objection 3350 rate for Treasury checks. [Snyder.]