We will simply, buy yuan and iwo them dollars." he said. Mr. Morgenthau said the yuan bad been fairly stable recently but that it haut Suffered severe drops in the past He said these declines in the value of the ywtan had sent Chinese cost considerably higher, Chinese Government, Morgenthau said, was seeking stabilize, the yuan in order to. In prove China's. internat situation, The Senate Banking and Currency Committee and the House Weights und Measures Committee in a soeyet Joint session voted confidence in Ad~ ministration plan (000,000 Joan to Feney. Another US$50,000,000 eredlit already hae! been granted, While the vote of confidence dock not mean the loan or credit "has granted, it constitutes a virtual head signal' to the Adminis-the words of Mr. Cordell Hull of State: "It is the fast we can do for the job that China is, doing.
Following the committee session My. Henry Morgenthau, Secretary of the Treasury, said no definite commitments had yet been made because he desired "io keep faith"™ with Congress.
He recalled that last year he ins formed the Senate Committee he would "for juidaneo" before using any stabilization funds to sid any foreign warring nation, now can so on-and do busines,' Mr, Morgenthau said. "I have Kept faith. "Now T am yoing back to the Preasvry and do busines! as fast the lawyers will Iet_me.
Text read from the printed page and cleaned; old type leaves the occasional error.