882.51/1490: Telegram

The Minister in Liberia (Hood) to the Secretary of State13a

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 [1921]. 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.

Hood
  1. Telegram badly garbled in transmission has been corrected to agree with another text quoted as telegram no. 18a of May 15, in despatch no. 107, Sept. 7, from the Minister in Liberia, p. 623. No copy of telegram no. 18a of May 15 has been found in Department files.