Office of the Historian

893.5151/5–2549: Telegram

The Consul at Canton (Scott) to the Secretary of State

Canton, May 25, 1949.
[Received May 26—11:09 p. m.]

137. GY practically useless with almost no transactions in GY in Canton money market and little or no use in business. Reached 250,000,000 buying and 329,000,000 selling per US dollar May 24 but quotations extremely uncertain and vary markedly from dealer to dealer and from time to time. Even official rice price now set in silver at 8.70 per shih picul for first quality.

Sent Department 137; repeated Shanghai 104.

Scott