863.51 Relief Credits/107
Memorandum by the Economic Adviser (Young)
Following the receipt of the attached letter from Under Secretary Mills,51 I telephoned the Austrian Minister, referring to his call three or four days ago and to his communication from Dr. Schüller. I called his attention to the provision of the final part of the proposed legislation, which stipulates that the United States must receive as [Page 906] favorable treatment as any of the creditors of Austria. I stated that the Treasury Department had considered the question, and that if the proposed legislation were adopted, the Secretary of the Treasury would not have authority to settle with Austria on the basis now under consideration unless the Italian Government should accept similar terms. The Minister stated that he would communicate in that sense to Dr. Schüller.
The Minister also stated that the representative in London of the Austrian Treasury had yesterday asked him to cable the text of the proposed legislation, and that he had done so. The Minister thinks that the question may be receiving further consideration at London.
- Letter of April 17, 1928; not printed.↩