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    "localId": "750252",
    "label": "Foreign Affairs File, 1940-1953: China: \"Documents on Diplomatic Aspects of Efforts by the United States to Supply China with Materials of War under the Lend-Lease Act, 1940-47\": Part IV:  1944 - 1947",
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    "title": "Foreign Affairs File, 1940-1953: China: \"Documents on Diplomatic Aspects of Efforts by the United States to Supply China with Materials of War under the Lend-Lease Act, 1940-47\": Part IV:  1944 - 1947",
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    "ocrText": "674\n-2-#155, Jenuary 25, 9 a.m., from Chungking via War\nThree. I agree with your 3B.\nFour. Re your 4. I agree that British precedent\nshould be applied 'co civilian lend lease inventory\nin Chinese possession on V-J Day and that same\nprinciple of utilizing fair current value in selling\nprice should be applied. As for terms of payment, range\nof bargaining would appear to be between 3C Lend -Lease\nterms and terms in this settlement.\nFive. Re your 5. I agree with present policy in\nWashington as stated in your 5B.\nSix. Re your 6. It appears desirable to suspend\ndecision pending further developments both of my\nmission and of negotiations on overall settlement.\nSeven. Re your 7.\nA. With respect to the Calcutta stockpile Johnson\noriginally recommended that ve offer it to Chinese at\ncost plus transportation, amount to be offset against\nour obligations to China for Yuan advances. I accepted\nhis recommendation and offer was accordingly made to\nChinese Govt. Johnson now cables from Shanghai that\nSoong has made counter-proposai that in view of the need\nfor husbanding China's foreign exchange resources the\ngreater part of which will have to be reserved for\ncurrency stabilization, he is unable to consider any\nother terms than what would correspond to the vest\nChina settlement-that is 20% in cash and the balance\nover a period of 30 years. Johnson now recommends that\nif Soong will not make an all cash offer even at 20%\ndiscount for cash (which I am sure he won't) the Calcutta\nstockpile be sold to the Chinese Govt at 3C terms with\ndown payment of 20 or 25% cash. Johnson adds that\nSoong's tentativa offer would meet with Treasury approval\nby addition of suggestion if possible of a clause\nproviding for the offsetting principle against our\nCN debt. But I am convinced in the light of the west\nChina surplus property negotiations that if this is\nonly made as a suggestion the Chinese will turn it down.\nIt\nSECRET\nDECLASSIFIED\ns.\nE. O. 11652, Sec. 3(E) and S(D) or (E)\nDept. of State letter, Aug. 9, 1973\nRecotos\nBy NLT- HC , NARS Date 6.25.25\nSERVIOS\nconnect"
}