Foreign Relations of the United States, 1949, The Far East: China, Volume IX

893.5151/4–2349: Telegram

The Ambassador in China (Stuart) to the Secretary of State

Nanking, April 23, 1949—9 a. m.
[Received April 22—11:45 p. m.]

831. For Treasury from Parker. Peiping, Tientsin and other posts coming under Communist control have emergency supply US currency. Communist regulations now call [for] surrender all foreign currency.⁶² Since cannot assume Consulates will be inviolate, believe authority should be given these posts destroy currency in event emergency in accordance established procedures.

This would be carried out as situation necessitates with posts turning in nominal amount at official rate. Operation would not be initiated prior first successful inward remittance through authorized bank.

Sent Department, repeated Shanghai 418, OffEmb Canton 283. [Parker.]

Stuart

62. In telegram No. 253, April 21, the Consul General at Tientsin (Smyth) reported a Communist Military Control Committee proclamation prohibiting possession of foreign currency by Chinese and foreign residents after April 30 and permitting withdrawals in People’s Bank notes according to the official rate of exchange on the day of withdrawal (893.515/4–2149).