853.51/236: Telegram

The Acting Secretary of State to the Minister in Portugal ( Dearing )

32. Reference your despatch 842 of June 13, 1924. Inasmuch as Decree 9761 of June 3, 1924, specifies only British bondholders domiciled in England as having the right to be paid in London, it appears that American holders of these bonds would be deprived of the right to receive payment in sterling. For this reason, and in view of the fact that most of the bonds held by Americans were purchased in the [Page 882] London market, you are instructed to request the Portuguese Government to grant to American holders of the bonds in question equality of treatment with respect to right to receive sterling payment in London.3

Cable reply.

Grew
  1. A note, dated Aug. 14, 1924, based on Department’s telegram No. 32 was presented by the Minister in Portugal to the Portuguese Minister for Foreign Affairs.