Messrs. Curtis, Mallet-Prevost & Colt to the Secretary of State

Sir: Stifel-Nicolaus Investment Company, Spencer Trask & Co., and The Equitable Trust Company of New York, for whom we are acting as counsel, contemplate the purchase of $19,000,000 of a new issue of bonds of the Republic of Bolivia of a total authorized issue of $33,000,000. $7,000,000 of the balance of the issue are to be issued in exchange for a like amount of bonds now outstanding and the remaining $7,000,000 are to be used for contemplated railroad improvements. This new issue is made in pursuance of the agreement between our clients and the Republic of Bolivia dated December 5, 1921,1 providing for a temporary loan of $1,000,000, the details of which were submitted to your Department by a representative of our office before the execution of said contract. For your confidential information we hand you herewith the Proposal of the Bankers and the Financing Plan submitted by them to the Republic.1

As the proposed loan tends to assist American industry and to promote foreign trade, providing, as it does, for additional railway construction in the Republic of Bolivia and for the payment of obligations of the Republic now held by American citizens, our clients would be glad to know if the purchase by them of the issue above referred to meets with the approval of your Department and we respectfully request an expression of your views in this subject. As this matter is urgent we take the liberty of requesting an early reply and remain,

Very respectfully yours,

Curtis, Mallet-Prevost & Colt
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