837.51/879
The Cuban Chargé (Padró) to the Secretary of State
Mr. Secretary: I have the honor to acknowledge the receipt of Your Excellency’s note, dated November first, 1922, in which you are pleased to inform me, in answer to the note of this Legation of October 19 [18], 1922, that the Department of State has no objection to offer, under the stipulations of Article II of the Permanent Treaty of Relations between Cuba and the United States of 1903, to the negotiation by the Cuban Government of the fifty million dollar loan ($50,000,000) authorized by the law of October 9, 1922.
In conveying to Your Excellency the gratification of my Government for your aforesaid communication, I am pleased to inform Your Excellency that, having expressly consulted it on this subject, my Government wishes me to ratify its opinion that the taxes specially allocated to cover the service of the new loan are sufficient and, at the same time to confirm the interpretation of Your Excellency that, if by whatever cause this were not so, the President of Cuba will pledge additional funds from the ordinary revenues of the Cuban Government to that service in accordance with the authority that the loan statute has granted him.
I take [etc.]