The Acting Secretary of State to the Ambassador in Germany (Sackett)
30. For Gilbert. Your telegram March 25th. Lee, Higginson continue to emphasize that our approval is not necessary for the contract and up to now we have not interfered in such loans. They tell me too that the French have manifested an intention to grant conditional approval.
Lee, Higginson state further that authoritative declaration will be made regarding employment of loan to retire debts and so as not to interfere with program for taxes. In the circumstances, I do not wish to make a test case out of this or to bring any more pressure to bear upon these American bankers, although I rather think you have rightly pointed out that the transaction is an undesirable one.
Such opinion, however, as you may wish to offer me on this and like subjects is always welcome and I trust you will recognize my reliance upon and my pleasure in your opinion at all times.