837.51/970

The Acting Secretary of State to the Cuban Chargé ( Padro )

Sir: The Department has received a letter from the Secretary of the Treasury requesting it to advise you that the Federal Reserve Bank of New York received from the Cuban Government, through the National City Bank of New York, the sum of $3,500,000 on August 21, 1923; the sum of $3,500,000 on August 22, 1923, and the sum of $38, 118.03 on August 23, 1923, making a total payment of $7,038,118.03; and that such payments represent the principal amount of $6,988,000 remaining due on the two demand obligations of the Cuban Government dated respectively March 27, 1918, and November 4, [Page 849] 1918, for $5,000,000 each, and the interest accrued and unpaid of $50,118.03, up to August 21–22, 1923.

The Secretary of the Treasury adds that the Treasurer of the United States has made the proper notation on the two demand obligations above mentioned with respect to the payment of $3,500,000 made on August 21, 1923, and has marked said obligations “paid” as of August 22, 1923.

The two demand obligations above mentioned marked “paid” and a statement relative to these payments are enclosed,20 and the Department is requested by the Secretary of the Treasury to advise you that the Treasury is prepared, at your convenience, to surrender to you all of the definitive bonds of the Cuban Government, issue of 1917, Series A, aggregating in the principal amount of $6,988,000, now held by the Treasury as collateral security for the two demand obligations above mentioned.

I am also requested by the Secretary of the Treasury to ask you to extend to your Government the Treasury’s appreciation for the promptness with which your Government has liquidated its indebtedness due to the United States.

Accept [etc.]

William Phillips
  1. Not printed.