File No. 882.51/297.
The Acting Secretary of State to Dr. Falkner .
Washington , February 23, 1912 .
Sir: The Department has received your letter1 of the 15th instant in which you state that on January 11 last you addressed a letter1 to the President of Liberia advising him that the terms of settlement proposed by the bankers who are to finance the Liberian Loan should be announced to the holders of the internal debt certificates, and that they should be given a period of two weeks within which to signify their acceptance of the terms proposed. You also state that you have received a cable from the President of Liberia notifying you that these terms of settlement have been accepted.
In reply you are informed that the Department on the 16th instant sent a cablegram to the American Minister at Monrovia which reads in substance as follows: President Howard’s cable has been received by Dr. Falkner, and the Department is gratified to learn that the Government of Liberia accepts the terms of settlement proposed; but the acceptance of terms by individual creditors is also needed. The terms of settlement should be communicated to each holder of internal debt certificates in accordance with Dr. Falkner’s letter [Page 670] dated January 11, 1912, with notice that terms should be accepted within period specified. A uniform form of acceptance should accompany each notice.
The American Legation was also instructed to cable the Department what per cent of total registered amount of each class of debt is represented by creditors who accept terms.
I am [etc.]