893.51/5–1945: Telegram
The Acting Secretary of State to the Ambassador in China (Hurley)
760. Associated Press and United Press carry stories in virtually all papers today describing multi-million dollar Chungking gold scandal which is coming to light despite tight Chinese censorship. Scandal stems from premature leak of Chinese Government decision in March to raise official price of gold, thus permitting Chungking speculators to make fantastic profits in few hours, according to press. Dr. Soong is reported to have taken note of incident by authorizing statement to a reporter that drastic punishment awaited those who were involved. United Press states that scandal was principal reason for Dr. Soong’s return to Washington from San Francisco, and continues to say that Treasury and State Department officials are said to be conferring about it.
[Here follows report of a radio commentator.]