837.51/968

The Chargé in Cuba (Howell) to the Secretary of State

No. 260

Sir: I have the honor to inform the Department that in accordance with the Loan Law of October last,16 providing that the surplus in the Treasury at the end of the fiscal year be devoted to reducing the National Debt, the President has signed a decree authorizing the Secretary of the Treasury to pay to the United States the sum of approximately seven million dollars in payment of the balance of the ten million dollar loan of 1917.17

I understand that payment will be effected through the National City Bank of New York and J. P. Morgan and Company.

I have [etc.]

W[illiamson] S. Howell
  1. Loan law of 1922 not printed; see note of Oct. 18, 1922, from the Cuban Chargé, Foreign Relations, 1922, vol. i, p. 1044.
  2. For the loan law of Aug. 1, 1917, and the $10,000,000 loan granted from a total credit of $15,000,000 extended by the United States, see ibid., 1918, pp. 294339.