763.72113 Au 7/7

The Under Secretary of the Treasury (Winston) to the Assistant Secretary of State (Olds)

Dear Mr. Olds: Thank you for your letter of December 21st32f enclosing a memorandum32g showing the position of Hungary on the return of alien property. I have told the Austrian Minister that so far as the Treasury was concerned, it would not recommend any legislation until we received a definite estimate of the probable amount of the awards against Austria. If at that time the estimate showed [Page 145] the awards were far less than the amount of property held by the Alien Property Custodian, the Treasury might consider recommending a bill returning at once a part of the alien property and hold the balance until Austria had actually paid the American claims. I would not wish to complicate the present bill now in Congress by bringing Austria into the situation, so I think that my statement to the Austrian Minister will carry this matter over to the next Congress in any event.

Very truly yours,

Garrard B. Winston
  1. Not printed.
  2. Supra.