882.6176 F 51/31: Telegram
The Minister in Liberia (Hood) to the Secretary of State
[Received 1:13 p.m.]
14. The Government of Liberia requests that I transmit this additional explanation, which embodies its interpretation of the Firestone agreements. The main points of this addendum are as follows:
The Liberian Government affirms that a loan is to be raised in the United States, but one not following all the terms and conditions of the 1921 plan. The Government would assign the revenues of the Republic as security and would authorize the appointment of officers to administer and supervise the revenues in such manner as may be agreed upon in the negotiation of the loan, provided these officers are nominated by the American Government. If it be found impossible finally to arrange the loan, Liberia is not to be held responsible for reimbursing Firestone for money invested in Liberia, and the agreements would be effective and valid only when ratified by the Liberian Legislature. This ratification would carry with it automatically authority for the Government to secure the contract and enter into a loan agreement.
In Agreement 2, article 2, paragraph (b), the word “food” should be stricken out and the word “supplies” should be interpreted to mean “implements, tools, building materials, spare parts, and articles of this sort, which are free under the existing tariff.” In Agreement 2, article 3, paragraph (d), the second part should be eliminated.35