868.51 Public Works/94
The Chief of the Division of Near Eastern Affairs (Shaw) to Mr. A. I. Henderson of J. & W. Seligman & Co.
Dear Henderson: In reply to your letter of September 12th23 relative to the Department’s position with reference to the refusal of International Financial Commission service to the Seligman loan, I may say that at the present time the Department perceives no reason for protesting. This is due primarily to the fact that the Commission’s note to the Greek Government contains a statement of general policy on which this Government could base representations under normal conditions against any future loans obtaining safeguards that have been refused in the case of the Seligman loan. I may add that the informal note from the British Foreign Office to Ambassador Dawes,24 a partial copy of which was contained in the telegram enclosed with my letter of August 12,23 would appear to provide additional sanction for such representations should the need arise.