File No. 1021/12–14.
The Acting Secretary of State to the Spanish Chargé.
Washington , September 10, 1907 .
Dear Mr. Walls: I greatly regret the delay in acknowledging your note of August 12, which you handed to me August 13 together with two checks, one drawn for $28,500 and the other for $570,000, tendered in satisfaction of the last year’s interest and the principal of the inscripciones of 1834.
As the former correspondence shows, it has been the practice to consult the holders of these inscriptions in matters affecting their interest, as was done in 1841 when it was proposed to commute the $600,000 capital debt for $500,000, and again in 1847 when the conditions of the annual payment of interest were changed by mutual agreement.
In order that a clear explanation may now be made to the holders. I should be very glad if you would advise me of the manner in which the tendered $570,000 has been computed as the equivalent of the stipulated treaty debt.
Could you also tell me whether or not the original inscriptions should be returned, inasmuch as it will be necessary to take the proper steps to secure them in case they are desired by your Government.
Trusting that I shall soon be able to close the matter,
I am, etc.,