839.51/2447
The Secretary of State to the Dominican Chargé (Ariza)
Sir: The receipt is acknowledged of your note dated August 8, 1924, in which you inform me of the decision of your Government to contract a short term loan to the amount of $2,500,000, to be secured by $3,300,000 of the Dominican 5½ per cent bonds of 1922 which have not been issued.
You state that this sum is considered necessary for the continuance of the construction of public works, for the development of the natural resources of the Dominican Republic, and to meet the urgent requirements of your Government.
You add that the Dominican Congress has already approved the loan referred to and that negotiations have been entered into with Messrs. Lee, Higginson and Company, who are disposed to supply the funds in question, but that before proceeding further with these negotiations you desire to be informed whether this loan would meet with the approval of the Government of the United States.
In reply, I desire to state that in order that the Department may have before it all pertinent information which might be of assistance to it in its consideration of the question which you have presented, I should appreciate it if you would be so good as to inform the Department of the details of the proposed contract for the loan under discussion.
Accept [etc.]