The British Secretary of State for Foreign Affairs ( Chamberlain ) to the American Ambassador in Great Britain ( Houghton )12
Your Excellency: With reference to the note which the Chargé d’Affaires of the United States was so good as to address to me under date of January 4th on the subject of the reciprocal release by His Majesty’s Government in Great Britain and the Government of the United States of properties sequestrated in both countries under the Trading with the Enemy Acts, I have the honour to state that the memorandum enclosed in that note sets out accurately the position of His Majesty’s Government in regard to the matters referred to therein, subject to the following slight amendments:—
On page 2 of the memorandum, line 11, “The British Trading with the Enemy Act” should read “The British Trading with the Enemy Acts.”
On page 3 of the memorandum in the third paragraph marked “B. Position of the British Government” the word “number” should be “numbers”, the question involved being the numbers of the certificates of the particular shares referred to.
- In so far as the memorandum refers to questions of release, His Majesty’s Government in Great Britain are prepared to carry out releases in the cases referred to therein, but portions of the memorandum appear to be inapplicable to release questions, notably paragraph 2 B. where it is a question of payment of American creditors, and paragraph 4 B. where the position of His Majesty’s Government is defined and is governed by decisions of the Courts and of the Mixed Arbitral Tribunals.
- I beg leave to state that the position of His Majesty’s Government on the subject of reciprocity in connection with the British Trading with the Enemy Acts and the Treaties of Peace is accurately defined in the memorandum enclosed in Mr. Sterling’s note under reference (subject to the above mentioned slight amendments) and that so far as the question of property capable of release is involved they are prepared, on being granted reciprocal treatment by the Government of the United States within the terms of the memorandum, to release such property as is covered by the terms of the understanding and on the conditions stated therein.
I have [etc.]
- Copy transmitted to the Department by the Ambassador under covering despatch No. 1659, Feb. 25, 1927; received Mar. 11.↩