"After lengthy conferences and consultations, covering a period of almost seven weeks, our Ministry of Finance and the' U.S. Treasury operate with each other as contained Departypent found a formula to ce.
the oficial announcements of Minister Kung and Secretary Morgenthau: namely, China agrees to enlarge the use of silver and con. tinue to maintain an independent system of currency while the US. grees to purchase substantial quantities of silver from China and' Provide facilities in dollar exchange.
"These arrangements thus made and being carried out will "further increase our gold and foreign exchange reserve "with which 10 defend the external value of our ow currency, and ensure the success of our monetary reform, there= by ushering in a new era. of economic prosperity. They will also help toward the stabilization of th value of silver in which both China and the US. are interested, and pave the way for future economic ''cooperation between these two friendly nations, "During our sojourn in Washington, President Roosevelt manifested Keen Interest in our conversations ud was highly grained over the results achieved, It was a source of encouragement that the authorities in Washington including the President, the officials of the Treasury and" State Departments as well as congressional leaders such as Sena-for Pittman, all showed a deep interest over the progress in currency reform our Minisjry of Finance has achieved and were anxious to be of assistance to us. The sentiment of the American people toward China also very friendly and sympathesome observations and _investigations regarding world tendencies economics, banking and foreign, trade. We will try our best (o make good use of the results obtained in connection with the work with which we are identified for the benefit of our country and people."
When questioned os to the truth of certain press reports alleging that the mission has made an agreement in London limiting the purchase of silver from China to. the Central government, members of the Alission informed the press representatives that owing to the necessity of immediate return to China the Mission did not have time to visit London and therefore has nothing to de with the alleged report.
Text read from the printed page and cleaned; old type leaves the occasional error.