The Dominican Minister (Morales) to the Secretary of State


Mr. Secretary of State: In the last paragraph of your note of this same date, replying to my notes of November 11th and 12th, 1926, Your Excellency states that you will be pleased to grant the agreement of which Article III of the Convention of 1924 speaks for the increase of the public debt of the Dominican Republic in the amount of ten million dollars with the understanding that the corresponding bonds will be issued in accord with the terms of the Convention of 1924; that, consequently, the status of these bonds will be exactly the same as that of the bonds which represent the outstanding balance of the public debt of the Dominican Republic and as that of any other bonds which in the future may be issued under the authority of the Convention of 1924; that as set forth in the notes exchanged between Your Excellency and my predecessor on October 24, 1925, the duties and functions of the General Receiver and of the Assistant Receiver and other employees of the Receivership as specified in Article I of the Convention signed on December 27, 1924, will continue in full force and effect until the payment or retirement not only of the bonds to which it particularly refers but also of any other or all bonds which may be issued under the terms of that Convention; and that, finally, the Government of the United States further understands that the Government of the Dominican Republic considers the bonds which are to be issued for the proposed loan of ten million dollars as forming part of “the debt” mentioned in Article III of the Convention of 1924.

In reply, I have the honor to confirm, in the name of my Government, the understandings set out by Your Excellency and specified in the preceding paragraph of the present note.

I avail myself [etc.]

A. Morales