863.51 Relief Credits/256
The Secretary of the Treasury (Mellon) to the Secretary of State
My Dear Mr. Secretary:
. . . . . . . . . . . . . .
Acting, therefore, under the authority conferred on me as Secretary of the Treasury of the United States by Public Resolution of Congress No. 81, approved February 4, 1929, having first determined that substantially similar action has been taken by each of the relief creditor governments in respect of the Austrian relief bonds held by it and that the Reparation Commission has given an appropriate release in respect of such loan, I hereby declare that the lien for the payment of the Austrian relief bonds held by the United States upon the customs and tobacco monopoly and such of the other revenues and receipts of the Austrian Government as may from time to time be required by the trustees of the bondholders of the proposed development loan, is subordinated to a lien upon such of said assets and revenues as may be pledged for the payment of one or more loans floated by Austria in an aggregate net amount of not more than 725,000,000 Austrian schillings for a period of not more than thirty years from July 1, 1929.
Very truly yours,