The Minister in Liberia ( Hood ) to the Secretary of State 13a
[Received 10:15 p.m.]
18. Liberian Government having reached the limits of its [credit] with Bank of British West Africa faces financial crisis. Its only [Page 618] available resource is to give as [collateral] security 10,000 pounds of German [Liquidated] Property Funds already pledged as security under loan agreement of 1920 . Liberia[n] [Treasurer] having [determined to use] money in this manner desires to make [known] its intention to Government of the United States. Financial Adviser approves Treasurer’s action. Revenues positively expected to arrive between June and September amply sufficient to cover security.