File No. 841.51/53
The Assistant Secretary of the Treasury ( Crosby ) to the Secretary of State
My Dear Mr. Secretary: In the absence of Secretary McAdoo, I have the honor to report the fact that to-day, in accordance with [Page 530] the program heretofore laid out and already indicated to you, the British are receiving an advance of $75,000,000, thus closing the sum of those advances which have been absolutely agreed upon by the Secretary of the Treasury, with that Government. Further determinations await the return of the Secretary of the Treasury.
I have further to report that the Italian Ambassador received $75,000,000 completing the taking over by them in money of the $100,000,000 loan which was previously reported to you as having been agreed to by Secretary McAdoo and witnessed by an obligation of the Italian Government, which specified that the total amount should be received in various sums during the month of May. The taking of this money closes also the absolute commitment made by Secretary McAdoo to the Italian Government.
Holding myself entirely at your convenience to give you any further information concerning these matters, I remain
Very respectfully,