File No. 861.51/437
The Ambassador in Great Britain (Davis) to the Secretary of State
[Received 6.17 p.m.]
4877. [For] War Trade Board from Sheldon:1
2180. Your 1787, Department’s 3289, undated.2 The British Treasury wish to leave the provision of currency in Siberia to the United States Government but would deprecate the introduction of rubles redeemable at 50 cents into northern Russia where they consider that currency requirements will be fully met by the issue by the office of conversion of notes redeemable at the rate of 40 rubles to the pound sterling. The meaning of the words “but it is expected “that the trade notes will be acceptable in payment for purchases of goods imported from the United States is not quite clear to the British Treasury as they gather from the context of the telegram that it is definitely intended that these notes should be accepted. The British Treasury would also like to know whether they may assume that the notes will be available for the purchase of British and other Allied goods in the same way as are the notes issued by the office of conversion at Archangel. The Treasury would be grateful if they could be kept informed of the progress of this scheme. They state that the arrangements which they have made in Archangel through the office of conversion are working satisfactorily.