893.51/11–1847: Telegram
The Acting Secretary of State to the Consul General at Shanghai (Davis)
2032. 1. Reurtel 2661 Nov 18,78 there is no basis for report Gauss planning trip China.
2. Reurtel 2599 Nov 10 and representations subsequently made by Chinese with respect to cotton needs and prospects. Dept appreciates requirement [of] advance time margin for procurement, shipment and delivery of cotton supplies. In projection 1948 balance payments on quarterly basis Dept has tentatively allocated total imports $120 million as follows: 1st qtr. 0; 2nd qtr. $20 mil; 3rd qtr. $40 mil; 4th qtr. $60 mil. Figure for total imports is for 600,000 bales, 89,000 needed before July 1. It is on C. I. F. basis Shanghai. Your comments re above quarterly breakdown requested, also your estimate total cotton import requirements for period Apr 1, 1948 to June 30, 1949. To what extent do you regard it feasible that portion [of] import requirements can be met from private exchange holdings [of] Chinese mills?
Sent Shanghai, rptd to Nanking as Deptel no. 1434.
- Not printed.↩