File No. 882.51/754
Minister Curtis to
the Secretary of State
No. 121
American Legation,
Monrovia,
August 10, 1917.
Sir: I have the honor to transmit herewith
enclosed the views of the Receiver General of Customs anent the
advisability of putting on the market the bonds, in the sum of
approximately $142,000.00, held as reserve by the fiscal agents of the
Liberian Government, against certain claims existent against Liberia at
the time of the consummation of the loan and since that time satisfied
and discharged.
In conversation with the President and also with the Secretary of State I
have been given to understand that the views of the Liberian Government
are in accord with those entertained and expressed by the Receiver
General, although I have not received the Government’s views in official
form.
I have [etc.]
[Page 893]
[Inclosure]
The Receiver General of
Customs to Minister Curtis
Sir: In reply to your letter of July 20,
in re $142,000 in bonds reserved against unadjusted
indebtedness.
I have had several letters from the National City Bank on the subject
of this cablegram and it was practically decided to allow the matter
to remain in statu quo until after the war
when the bonds could be more easily marketed and with little or no
loss in discount.
In view of the probable heavy loss by discount if the sale of these
bonds is effected during the continuance of the war, I agree with
the Bank that their sale be postponed until a more propitious
opportunity presents itself.
Almost from the time of my arrival here I have urged the sale of
these bonds so that the proceeds might tee available for the
purposes and by the methods contemplated in the Loan Agreement. In
view of the entrance of the United States into the war and the
increased cost of materials and implements for public improvements,
the latter will have to be delayed and become a part of the larger
plan for public improvement and the building of works of public
necessity and utility. If the Bank had cabled its inability or lack
of facilities for marketing these bonds on receipt of the original
request in due form, some arrangements might have been made; now it
is too late.
I have been delayed in replying to your letter from the fact that I
was told informally that the Liberian Government had received a
similar letter from you and that they would call on me for such
comment as would enable a reply to be made to you. To date no formal
request has been made and I therefore make reply to you direct.
Very truly yours,
