Terms of the contract, it was understood, involve no loan by the United States Government. China has been making heavy silver shipments to the United States in recent months and it is believed that the $15,000,000 will be paid in silver in the next year.
The contract provides for the purchase of 52 Seversky pursuit planes, "the fastest China has yet flown," and 27 light bombers, it was reported.
Chinese agents also are attempting to negotiate a contract for American radio equipment with which to outfit 250 planes, including those provided in the new plane contract, it was reported. Such equipment, it was estimated, would cost Chinia about $300,000.
Silver imports to the United States in March, reported to have originated in China, were valued at approximately $1,300,000, much larger than in any recent month. At such a rate, it was pointed out, China could pay the full amount of the aircraft contract in ten months.
Text read from the printed page and cleaned; old type leaves the occasional error.