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,