The Secretary of State to Messrs. Lansing & Woolsey

Gentlemen: The Department has received your letter of April 4, 1923,2 stating that Mr. Keith3 is about to proceed to London to complete the underwriting of the Salvador Loan and that he would like to know whether the Department of State has any objection to the sale of a portion of the loan referred to in London.

In reply you are informed that the Department, in the light of the information at present before it, does not consider that the sale in London of $2,500,000 worth of bonds out of a total amount of $6,000,000 would make it necessary to withdraw the statement already made that it perceived no objection to the loan, provided that the loan was issued in accordance with the contracts which have been submitted to the Department, and provided that there was no essential change in the plan of procedure which you have hitherto discussed with the Department.

I am [etc.]

For the Secretary of State:
Leland Harrison

Assistant Secretary
  1. Not printed.
  2. Minor C. Keith, who on June 24, 1922, concluded a loan contract with the Government of Salvador through its representative, René Kielhauer.