The Minister in Portugal (Dearing) to the Secretary of State
[Received January 22—9:40 a.m.]
5. My No. 4, January 19. I have just received note dated January 19 from Foreign Office informing me that redemption of the bonds and payment of arrears of interest tobacco loan will be made in pounds sterling so that American citizens will receive same treatment that was accorded British subjects. Probably this is note promised me by Dr. Teixeira. The Department will observe that there is no direct statement where Americans will be paid, although this may be London, and that by failing to state a place, date, and period for making payment, treatment equivalent to that accorded British holders of bonds is by no means accorded to Americans.