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Just before his retirement to his native village of Fenghua last January, President Chiang Kai-shek thoughtfully moved some $300 million of Nationalist gold, silver and foreign exchange from Nanking and Shanghai to safer vaults in Formosa and South China. There it was put under tight control of generals and officials loyal to Chiang. If the Communists toppled the peace-seeking government of Acting President Li Tsung-jen and tried to occupy all of China, the gold and silver would serve Chiang's still-faithful followers as a nest egg for further resistance against the Reds...

Author: /time Magazine | Title: Foreign News: Nest Egg | 4/25/1949 | See Source »

...time the show had finally ended at 4 a.m., Ella Fitzgerald and the Kai Winding Boptet had livened things up a bit, in between Artie's three concert shows. But Artie wasn't giving up. He planned to soup up the amplifiers so he could really dump it in their laps. And he thought he would change some of his programming-he had learned enough, he said, "to lecture at Juilliard on public reaction to modern music." So he was just going to keep on attacking the Great Wall of China with his little nail file...

Author: /time Magazine | Title: Music: With a Nail File | 4/25/1949 | See Source »

...most outspoken editor, reached for his hat. After 25 years of writing what he thought - and eight previous arrests - Kung knew what to expect. He told his wife: "You can reach me at the prison." The day before, Kung had written a long, angry editorial accusing retired President Chiang Kai-shek of "manipulating" the Chinese government from "behind the screen." Unless Chiang "goes abroad," wrote Kung, "the nation and the people will be ruined." Some Chinese had said this privately; no other editor had dared to publish it. For three days Kung sat in prison. Released, he promptly wrote...

Author: /time Magazine | Title: The Press: Mister Big Cannon | 3/21/1949 | See Source »

...Before he finally announced his retirement, Chiang Kai-shek tried to stave off disaster in the war with the Reds by doing all but one of these...

Author: /time Magazine | Title: The President and Politics | 3/7/1949 | See Source »

...coolly responded with the frankest description so far pinned on the U.S.'s wavering, feckless China policy: "Wait until the dust settles." That Mi-cawberism, which Dean Acheson had inherited when he took office, was not enough for Walter Judd. He blamed the U.S. for consistently undermining Chiang Kai-shek's Nationalist government. Acheson countered that the Chiang government was corrupt, that U.S. military supplies inevitably fell to the Communists without a real fight. Then Judd assailed the State Department's long effort to sell China a coalition government. Said Judd: "The Chinese knew then...

Author: /time Magazine | Title: FOREIGN RELATIONS: Until the Dust Settles | 3/7/1949 | See Source »

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