Office of the Historian

863.51 Relief Credits/38: Telegram

The Secretary of State to the Minister in Austria (Washburn)

Washington, February 21, 1928—6 p.m.

15. Your 10, February 16, 10 a.m. The Secretary of the Treasury has today issued a press statement summarizing the Austrian loan situation and announcing that recommendation will be made to Congress for appropriate legislation to permit the subordination of American lien. Naturally no assurance can be given that Congress will act favorably on the recommendation.

Formal reply to Austrian notes will be prepared after the holiday tomorrow.

You may informally advise appropriate officials. Repeat to London, Paris and Berne.

Kellogg.