841D.51/166
Messrs. Frank P. Walsh and John T. Ryan, New York, to the Assistant Secretary of State (Castle)
[Received October 12.]
In re. Irish Bonds.
Sir: Yours of the 9th instant, in reference to the above matter, duly received.
Therein, beginning at the foot of page 4, you review to some extent the Loans and Funds Act (1924) Irish Free State. From said review it appears that said Act contains no provision for payment in cash in the first instance. You also quote from our letter to you of August 22nd, 1928,14 as to our willingness to agree upon [Page 101] a date certain from which interest can be figured, so as to save the expense of much detailed labor, and you then say:
“It seems, therefore, that, although you refer to the Loans and Funds Act as ‘a perfect piece of legislation’, you are not opposed to proper amendments to the Act, but are desirous that any such amendments should not weaken its force in any way.”
We are glad to say the foregoing exactly coincides with our views.
In reference to the following:
“The Department will be glad to consider any suggestions or comments that you may care to submit with regard to any amendments that may ultimately be proposed.”
We desire to say we will be glad to take advantage of your kind offer, and as we presume copies of the proposed Amending Bill will be furnished the American Minister at Dublin, and by him forwarded to the Department of State, we will greatly appreciate it if a copy of the same is transmitted to us for examination and comment.
When the Receivers in the New York Action file their report showing the total claims allowed, and all other like information, we will cause three duly authenticated copies to be forwarded to you as requested.
We will also be glad to take up with you the question of further representations to the Government of the Irish Free State with regard to the early compensation of the subscribers to the Loans.
With assurances [etc.]
- Frank P. Walsh
- John T. Ryan
- Not printed.↩