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.
Last week Acting President Li wanted the nest egg back. He...
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