Washington, Sept. 24.
Through the Chinese Economic "Mission to the United States headed by Mr. K. P, Chen, China has opened "exhaustive negotiations with the Treasury Department here to prevent American monetary policies "from "squeezing" Chinese "currency the Sino-Japanese war continues "indefinitely, the United Press learned today.
"The Chinese mission is attempting to obtain information on the "line of future American monetary policies" if Hankow falls and the Sino-
Japanese conflict is prolonged, the United Press was told, Indicating that the negotiations re covering a broad range, American officials said current conferences probably would continue for at least two weeks, Thus far, it was understood, the negotiations have centred on the renewal of the Sino-American -silver purchasing agreement which expires soon, The Chinese delegations also was understood to be attempting to secure that the United States will not use its $1,800,000,000 stabilization fund to disrupt China's foreign exchange policies, Treasury Department officials here indicated a general willingness to renew the silver purchase agreement provided that satisfactory arrangements could be made. Details of such agreements are never made public, but responsible sources said that thus far the United States has bought 30,000,000 ounces of silver from China at prices ranging from 47 American cents to 49 cents.
The presence at the conferences of Mr. Archie Lockhead, technical adviser on monetary matters to Mr. Henry Morgenthau, Secretary of the Treasury, strengthened the belief here that the problem of protecting the Chinese Yuan was being discussed.
Mr, Chen today conferred with Mr, Lockhead privately and later called on Mr, Morgenthau to sum-marine the Sino-American conversations of the past week, Government authorities indicated, however, that no final conclusions had been reached and' that probably none would be reached for many days—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.