893.51/7073: Telegram
The Ambassador in China (Johnson) to the Secretary of State
[Received May 13—9:28 a.m.]
214. My 213, May 13, 10 a.m. I do not feel that I know enough about such matters to offer any advice. But I do feel that a critical moment has arrived and that an obvious method of giving protection [Page 655] to American investments and interests in China at this time would be to find some way whereby support could be given the Chinese in stabilizing their currency and thus helping them to help themselves. Up to the present we have to a large extent benefited by the efforts of others. Considering the consequences of a collapse of Chinese currency, some effort by the United States will be necessary as [or?] advisable.