The Secretary of the Treasury ( Mellon ) to the Secretary of State

Sir: I have the honor to acknowledge receipt of your letter of November 24, 1922,87 enclosing a copy of a memorandum of the British Ambassador relating to the remission of further payments of the annual installments of the Chinese Indemnity. It is noted that your letter states that the British Ambassador was advised that no difficulty is anticipated in arranging that any sums paid by the Chinese Government, on account of the balance of indemnity payable to the American Government, which, under the provisions of S. J. Res. 85, 67th Congress, 1st session, it was recommended should be remitted, shall be held subject to return to the Chinese Government in the event of the final approval by the Congress of the Joint Resolution now pending.

The Treasury, agreeably to that understanding, will arrange so that any moneys due the Government which may be received on account of the Chinese Indemnity will not be deposited to the credit of the general fund of the Treasury but will be held in a special deposit account pending a decision on the remission of the Indemnity by Congress.

Very truly yours,

A. W. Mellon
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