File No. 861.51/168

The Ambassador in Russia (Francis) to the Secretary of State


1542. Answering your telegram 1577, July 18, 7 [4] p.m.; also for Secretary of Treasury:

Cable of July 8 signed Root and Francis was framed by signers after two joint conferences with Minister for Foreign Affairs who [Page 16] applied for separate credit of $75,000,000 for specific purpose of purchasing Finnish marks for payment army and navy in Finland and Finnish waters and with assurance such credit if extended would be applied exclusively for that purpose and would meet such requirements until November. Root left 9th instant before Department’s 1552, July 9, 5 p.m., received. My 1497, July 11, 9 p.m., fully explained object of $75,000,000, none of which used yet because Government has not negotiated for marks with Bank of Finland. Ten million paid Bakhmeteff was part of $75,000,000 credit.

While keeping Department informed concerning conditions here and of requests of Russian Government have made no recommendations concerning additional credits because awaiting definite official information concerning Government which essential to forming opinion about advances. Minister for Foreign Affairs coming to Embassy this evening. After conference shall cable again.