893.515/5–849: Telegram
The Ambassador in China (Stuart) to the Secretary of State
[Received May 8—1 a. m.]
964. [To Tientsin:] Request Tientsin, Peiping report Embassy and repeat Embassy [Office in] Canton and Department in more detail experience your post in negotiations With Communist authorities concerning disposition US currency on hand and for local currency needs. Information necessary in order precedents favorable US Government may be listed, circulated posts under Communist control or about to fall.
Have you been able, on [to?] turn in US currency, negotiate for establishment US dollar credit subject withdrawal in local currency at rate prevalent on date of withdrawal, notwithstanding time limitations in Communist promulgated exchange regulations? Tientsin’s 167, sent Department 253, April 18,73 repeated Shanghai 174, Peiping 113, apparently indicates affirmative above query. Do Communists freely accept drafts? Is acceptance based on Communist regulation or on negotiation? Please list particular points of difficulty in negotiating, if any.
Sent Tientsin 28, repeated Shanghai 528, OffEmb Canton 375, Department, Peiping 149.