File No. 882.51/680.
Chargé Bundy to the Secretary of State.
Monrovia, November 8, 1915.
Sir: I have the honor to report for the information of the Department that the Liberian Government has concluded and signed on October 29, 1915, an agreement with the Bank of British West Africa, Limited, which provides that all moneys collected by and/or paid to the Government, including taxes, fines, licenses, surtax on import duties, residue of revenue received from customs receivership, and in fact, all revenue of whatsoever nature, excepting postal revenue, accruing, or that may hereafter accrue to the Government shall be paid into the bank at its nearest branch or agency and there be placed to the credit of an account in the name of the Liberian Government.
The conclusion of this agreement is regarded as a most important step in the efforts that are being made to bring about reforms in the internal finances of the Republic. The agreement has the sanction and approval of the Financial Adviser. In fact, I understand, that [Page 641]he was freely consulted about its terms and provisions. Personally I expect material benefits to come to the Republic as a result of an effective operation of this agreement. A verbatim copy of the agreement is herewith enclosed.
I have, [etc.]