The Department of State to the British Embassy
Referring to the British Embassy’s memorandum No. 244 of April 1, 1919, and to previous correspondence respecting certain British claims against Nicaragua and in reply to the British Embassy’s request to be informed of the present position in regard to the settlement of the claims against Nicaragua by the Public Credit Commission, the Department of State advises the British Embassy of [Page 668] the receipt of a recent telegram from the American Minister at Managua stating that the Public Credit Commission is willing to award 9,000 pounds cash and 4,000 pounds bonds. It is added that this offer is considered better than the suggestion of Minister Young of 10,000 pounds cash, and that practically 70 per cent of the award is cash and the remaining 30 per cent bonds. It is also stated that this is the highest percentage of cash given for this class of claims and it is asserted that the award is enough to pay claimants for small sums in cash while it still leaves a substantial amount for the London bank.
The American Minister reports that the time for acceptance of awards expires in June.