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

Gentlemen: The Department is in receipt of your letter of March 27, 1922, in which you state that Stifel-Nicolaus Investment Company, [Page 641] Spencer Trask and Company, and The Equitable Trust Company, of New York, for whom you are acting as counsel, contemplate the purchase of an issue of bonds of the Republic of Bolivia.

It is noted that the letter of March 24,2 which accompanied your letter of March 27, contains the following statement:

“The loan contract shall be submitted to the Secretary of State of the United States for his approval or for a statement by him that he perceives no objection thereto from the standpoint of the Department of State of the United States.”

In this connection your attention is invited to the statement on the subject of foreign loans, issued by this Department on March 3,3 a copy of which is enclosed for your information, which states that “offers for foreign loans should not …4 state or imply that they are contingent upon an expression from the Department of State regarding them, nor should any prospectus or contract refer to the attitude of this Government.”

In response to your request for an expression of the Department’s views, I beg to say that in so far as this Department is informed of the proposed transaction, it knows of no reason why it should interpose objection to your proceeding therewith.

I am [etc.]

For the Secretary of State:
Leland Harrison

Assistant Secretary
  1. Not printed.
  2. Ante, p. 557.
  3. Omission indicated in the Department’s letter.