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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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    "id": "750252",
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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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    "seq": 267,
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    "ocrText": "CHINESE SUPPLY COMMISSION\n2311 MASSACHUSETTS AVE., N. w.\n783\nWASHINOTON a, D. c.\nOUR REF. NO. S-2405\nJuly 1, 1947\nack.\n& of Ray J. Bath (2000)\nletter.\n988\nMr. Norman T. Ness\nLend Lease Administrator\nDepartment of State\nWashington 25, D. C.\nDear Mr. Ness:\nWe enclose the check of the Chinese Supply Comission,\nNo. 1447, dated July 1, 1947, drawn on and certified by the Bank of China,\nNew York Agency, in the amount of $2,320,020.32. This is the amount of\nthe first payment of principal and interest due from the Republic of China\nunder the terms of the (Agreement between the Governments of the United\nStates and the Republic of China on the Disposition of Lend-Lease Supplies\nin Inventory or Procurement in the United States\", dated June 14, 1946,\nknown as the \"Pipeline\" Agreement. Because of the unavailability of the\nsupporting documents on the part of the U. S. Treasury, it has not been\npossible to determine precisely the exact amount due at this time. How-\never, this amount has been agreed upon between representatives of the\nUnited States Treasury Department and members of our staff as being ap-\nproximately correct, subject to later adjustment when precise figures are\navailable.\nAs I pointed out in my letter to you of May 29, 1947, it is\nprovided in the Pipeline Agreement that the terms of payment, including\nrate of interest, may be altered by mutual agreement at the time of final\nsettlement for lend-lease aid received by China. Negotiations looking to\nas\nsuch settlement are now going forward. It is our view that during these\nnegotiations many of the considerations and developments which entered into\n<\nthe making of the Pipeline Agreement or came up thereafter will need re-\nexamination. Because of the spirit of the Agreement, as evidenced in part\nby the provision referred to, and because of the friendly attitude shown\nby the United States toward China, we suggest that this check be held by\nyou as evidence of our good faith and not be turned in to the United States\nTreasury until the conclusion of the final lend-lease settlement. In this\nway no subsequent decision will be affected by this action. .e would wel-\ncome any alternative suggestion you may make for handing the matter which\nwould likewise avoid committing the above as a firm payment or setting a\nprecedent for future payments."
}