861.77/761 a: Telegram

The Acting Secretary of State to the Consul at Vladivostok (Caldwell)

For Stevens. War Trade Board advises as follows:

You may draw drafts against the War Trade Board of the United States Russian Bureau, Incorporated, for sums not to exceed a total of $1,000,000 for use in connection with Siberian railways, with the understanding that this is a temporary measure without any security and that any sums so drawn will be redeemed from the [Page 263] general funds of the railways to be hereafter provided.71 No responsibility to provide funds as part of a more complete financial scheme is hereby implied, nor is any responsibility therefor assumed by the War Trade Board or any other Department of this Government. It is suggested that you maintain close contact with Heid72 in the disposal of these drafts, one reason being to encash certain funds which Heid will receive from the sale of merchandise sent him, another, in order to establish dollar credits in the United States for deserving individuals or associations whom you or Mr. Heid may know will use this money for the purchase of American commodities for export to Siberia. It may not be possible to strictly follow this suggestion, and it is not made to hamper you in any way in securing the funds which you require from the sale of these drafts, but believe this to be one way of assisting economic situation.

  1. The sum of $584,216.34 drawn from this deposit was repaid by transfer from a later $4,000,000 of American credit on instructions from the Department of State to the Riggs National Bank, Mar. 11, 1920 (file no. 861.77/133).
  2. August Heid, representative at Vladivostok of the War Trade Board.