"It is possible that China would be interested in a conversion scheme: by which present inter amounting to about eight per cent, and $2,000,000,000 Chinese currency would be reduced to four per cent, saving about $80,000,000 which might be used for reconstruction.purposes," he asserted. 1 His conversation with the President was general, Dr. Kung reported. He conveyed his respects to the President as a friend, and thanked him for American co-opera tion in China's currency crisis, He was unable to state precisely the nature of his conversations with the Secretary of State, Mr, Cordell Hull, and the Secretary of the Treasury, Mr. Henry, Morgenthau, except to say that the subjects were the common interests of China and the United tes, The Chinese Minister of Finance said he did not intend to raise the silver question while here. China, he pointed out, had large deposits in. United States banks since making silver sales to the United States, but that bankers did nai pay interest' on the amounts.
The situation, he said, demonstrated that there mere vast amounts of
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