893.51/5–2145
The Secretary of the Treasury (Morgenthau) to the Acting Secretary of State
My Dear Mr. Grew: I am writing in reply to your letter of May 16, 1945 regarding the purchase of gold by China. I wish to express my deep appreciation to you and the other members of your Department for their unvarying helpfulness in the discussions with Dr. T. V. Soong.
As you know, after the receipt of your letter of May 16, 1945 and the memorandum of the same date from your Department, I sent a letter to Dr. Soong indicating the views of this Government on the Chinese request for gold and on our proposal for the establishment of a $500 million Fund for combating inflation and stabilizing the [Page 1097] Chinese currency. I am attaching a copy of this letter71 for your information.
We have already informed the Army of the need for transport facilities in accordance with the schedule proposed by Dr. Soong. I will, of course, keep your Department informed of any developments with regard to the $500 million Fund proposal.
Thank you again for your cooperation in this matter.
Sincerely yours,