550 E 1/163: Telegram The Ambassador in France (Herrick) to the Secretary of State [Paraphrase] PARIS, April 5, 1922—9 p. m. 151. B-670. [From Boyden]: Next week considerable information useful to the United States will be lying round north Italy. The information cannot be picked up by anyone who is not personally acquainted with individuals. Unless the Department sees objection, possibility of which is apparent, I shall urge Logan to take a short vacation trip, entirely personal, incognito as far as possible, not beginning until a couple of days after the Genoa Conference opens. Incidentally he might call on Child at Genoa. Boyden. HERRICK 550 E 1/163: Telegram The Secretary of State to the Ambassador in France (Herrick) [Paraphrase] WASHINGTON, April 8, 1922-4 p.m. Boyden: 109. B-316. Urgent for Your B-670 of April 5. Logan is authorized to visit Italy informally in accordance with your suggestion. He should submit a separate account for his expenses which should be reasonable. Logan should be guided by the Department's instructions to Child, who will cable them to you for confidential information of yourself and Logan. HUGHES [Documents relating to the failure of the Genoa Conference to attain an understanding between Russia and the other powers, are printed in volume II, pages 770 ff.] NEGOTIATIONS ON BEHALF OF THE WORLD WAR FOREIGN DEBT COMMISSION FOR THE SETTLEMENT OR REFUNDING OF DEBTS OWED THE UNITED STATES BY FOREIGN GOVERNMENTS 841.51/499 The British Embassy to the Department of State AIDE MEMOIRE In the course of a conversation on the 10th of February Mr. Hughes observed to Sir Auckland Geddes that it seemed not im probable that the United States Government would be prepared to open discussions with His Majesty's Government in April in regard to the funding of the British debt to the United States of America. In order that His Majesty's Government may prepare for any such discussion, it is important that they should learn at an early date what character such conversations are likely to take. There appear to be three possibilities. 1. To invite the British Government alone as being a large fellow creditor to discuss general problems of debt due to the British and United States Governments, or 2. To invite the British Government alone to discuss simply the British debt to the United States, or 3. To invite the major debtors of the United States, e.g., Britain, France, Belgium and Italy together. His Majesty's Government would strongly prefer either the first or the third alternative as compared with the second. But in any case they are anxious to learn as soon as possible whether the United States Government propose to deal with each of its debtors singly, according to their apparent capacity or willingness to pay and without reference either to debts owed to, e.g., Britain and France by other allied debtors of the United States or to Germany's reparation liability. [Received March 18, 1922.] 800.51 W 89/ The Secretary of the World War Foreign Debt Commission (Wadsworth) to the Secretary of State WASHINGTON, April 18, 1922. MY DEAR MR. SECRETARY: I beg to quote below a resolution passed at its meeting to-day by the World War Foreign Debt Commission as follows: "Resolved, That the Secretary of State be requested to inform each of the Governments whose obligations, arising out of the World War, are held by the United States, including obligations held by the United States Grain Corporation, the War Department, the Navy Department, or the American Relief Administration, of the organization of the World War Foreign Debt Commission pursuant to the Act of Congress approved February 9, 1922 16 and that the Commission desires to receive any proposals or representations which the said Government may wish to make for the settlement or refunding of its obligations under the provisions of the Act." 16 42 Stat. 363. 167952-38—vol. I- -33 I understand that it is the request of the Commission that you should, through the usual diplomatic channels, transmit this resolution, together with a copy of the Funding Bill, to each Government whose indebtedness to the United States may be funded under the authority of the Bill. A statement is attached hereto giving a list of such Governments, together with their indebtedness, principal as of February 2, 1922 and interest accrued and unpaid up to and including the last interest period, prior to February 2, 1922. I trust that you will find it convenient to send a copy of the communication sent to each Government for the files of the Commission. Very truly yours, ELIOT WADSWORTH [Enclosure] STATEMENT SHOWING OBLIGATIONS OF FOREIGN GOVERNMENTS AND SO-CALLED GOVERNMENTS HELD BY THE UNITED STATES (INCLUDING THOSE HELD BY UNITED STATES GRAIN CORPORATION), INTEREST ACCRUED AND UNPAID THEREON UP TO AND INCLUDING THE LAST INTEREST PERIOD, AND Interest HERETOFORE Paid Armenia. Belgium. Czechoslovakia. Esthonia. Finland.. France.. Great Britain. Greece Hungary. Italy.. Latvia.. Liberia Lithuania. Nicaragua Poland. Roumania.. Russia.. Serbia.. Total.. $11,959, 917. 49 8, 281, 926. 17 3, 358, 104, 083. 20 $10, 150, 134, 196. 41 Interest accrued to and including Total Indebtedness period $1, 177, 548. 58 11, 158, 765. 66 723, 156. 02 151, 725. 21 202, 279, 732. 07 449, 009. 25 2, 218. 85 498, 162. 80 12, 692, 474.29 $13, 137, 466. 07 8, 147,000.00 1, 850, 313, 782.97 28, 218.85 $1, 183, 059, 844. 76 $11, 333, 194, 041. 17 Cuba and Greece pay interest as it becomes due. February 2, 1922. Interest heretofore paid $13, 704, 632. 95 1,656, 058. 14 304, 178. 09 160, 120, 962. 01 247,844, 685. 50 1, 159, 153. 34 57, 598, 852. 62 126, 266. 19 861.10 1,290, 620. 78 263, 313. 74 5, 107, 535.68 636, 059. 14 $489, 813, 179. 28 800.51 W 89/1a: Telegram The Secretary of State to the Ambassador in France (Herrick)17 WASHINGTON, April 21, 1922-12 noon. 1. You are instructed to communicate to the Government to which you are accredited the text of the following resolution adopted by the World War Foreign Debt Commission on April 18. [Here follows text of resolution quoted in letter from the Secretary of the World War Foreign Debt Commission, April 18, printed supra.] At the same time you will communicate the text of the law of February 9, 1922 creating the above-mentioned Commission, a copy of which was transmitted to you by the Department February 28. You will add the following statement: "Pursuant to the terms of the foregoing resolution, and under instructions from my Government, I have the honor to inform you that the Commission desires to receive any proposals or representations which the Government of France may wish to make for the settlement or refunding of its obligations under the provisions of the Act." 2. It may be that the Government to which you are accredited will desire to send financial representatives to Washington for purpose of direct dealing. If so, Department would like to be informed of the personnel of such representation and when likely to arrive. You may make informal inquiries on this point and in your discretion suggest that it would be agreeable to this Government if negotiations were to begin at an early date; also that it is contemplated that representatives of foreign governments may negotiate directly with the Commission. 3. Repeat the foregoing mutatis mutandis to Brussels, Prague, Helsingfors, London, Budapest, Rome, Warsaw, Bucharest and Belgrade.18 17 HUGHES See last paragraph for instructions to repeat to certain other countries. 18 For representations to Esthonia, Latvia, and Lithuania, see instruction no. 271, Aug. 8, 1922, to the Commissioner at Riga, p. 411. Documents relating to the debt of Austria will be found in the section under Austria entitled, "Measures taken to suspend financial claims against Austria by the United States and other creditor nations," p. 613. No refunding of the debt of Cuba was required, as interest and installments on the principal were being regularly paid. Repayment of the debt of Liberia was to be made from proceeds of the loan provided for in the Loan Plan of 1921, which, however, failed in 1922 to receive the sanction of the American Congress (see under Liberia, vol. I, pp. 606 ff). No negotiations were entered into during 1922 with Armenia, Greece, or Russia, as the Governments of these countries were not recognized by the United States. The debt of Nicaragua was regarded as already in funded form. 800.51 W 89 Belgium/ The Belgian Ambassador (Cartier) to the Secretary of State No. 654 WASHINGTON, April 27, 1922. SIR: I have the honour to acknowledge the receipt of your note of April 22, 1922,19 by which you kindly inform me that, pursuant to the terms of the Act of February 9, 1922, the World War Foreign Debt Commission has been organized and desires to receive any proposals or representations which the Government of Belgium may wish to make for the settlement or refunding of its obligations under the provision of said Act. I have the honour to inform you that I have been designated by my Government to enter into negociations with this Commission with a view to arriving at a satisfactory settlement in the scope of the Act of February 9, 1922, and that I shall forthwith communicate in the matter with the President of said Commission. Please accept [etc.] E. DE CARTIER 800.51 W 89 Jugoslavia/2 The Minister of the Kingdom of the Serbs, Croats and Slovenes (Grouitch) to the Secretary of State P. No. 189 WASHINGTON, May 25, 1922. SIR: With reference to my letter of May 11th, P No. 126,19 I have the honor to inform your Excellency that my Government has appointed me to negotiate with the World War Foreign Debt Commission for the Settlement or Refunding of the obligations of the Royal Government arising out of the World War which are held by the United States, and in accordance with the Act of February 9, 1922, and the Resolution of the Commission of April 18, the text of which has recently been communicated by your Excellency to the Royal Government through the United States Minister in Belgrade. 19 Not printed. |