893.51/7459
The Secretary of the Treasury (Morgenthau) to the Secretary of State
Washington, January 29,
1942.
My Dear Cordell: The President returned to me
the letter which I received from T. V. Soong, dated January 21,
1942,65 and attached
[Page 450]
thereto a memorandum, a photostat of which you will find enclosed
herewith. Upon receipt of this memorandum from the President, I wrote a
letter to Dr. Soong, a copy of which I am also enclosing.
There is also enclosed a photostat of a letter which I received January
27, 1942, from Sir Frederick Phillips66 stating the British position on the Chinese
request.
I believe that with these enclosures you now have a complete file of my
correspondence on the China loan proposal.
Sincerely,
[Enclosure 1]
Memorandum by President Roosevelt to the Secretary of the Treasury
(Morgenthau)
Washington, January 26,
1942.
Memorandum for H. M. Jr.
I still think that this can be worked out as soon as Fox gets here.
If they don’t want dollar notes, why don’t we buy Chinese yuans and
use them for paying for the equipment of Chinese troops in China
itself. I would be wholly willing to go up to twenty or twenty-five
million dollars a month on some such basis.
F[ranklin] D. R[oosevelt]
[Enclosure 2]
The Secretary of the Treasury (Morgenthau) to the Chinese Minister for Foreign Affairs
(Soong)
[Washington,] January 27,
1942.
Dear Dr. Soong: I have received your
letter of January 21, 1942, sending to me a message from the
Generalissimo.
I am glad to follow your suggestion that I wait until Mr. Fox arrives
in Washington before renewing discussions with you. I want to assure
you, in the meantime, that the Generalissimo’s request is very much
in my mind.
Sincerely yours,
