868.51/1285: Telegram

The Ambassador in Great Britain (Mellon) to the Secretary of State

329. Department’s 283, November 16, 6 p.m. Note received this morning refers to my inquiry whether it was the intention of His Majesty’s Government to instruct the British representative on the Commission to make adequate provision for safeguarding the rights of the United States Government and not to arrange for any distribution of funds or foreign exchange which would prejudice the equal treatment to which the United States Government was entitled in respect of the payment due November 10 and otherwise, and states first, that authorization is being sent to the British representative to act in accordance with instructions, the text of which I have already cabled the Department, and that the French and Italian Governments are being requested to send similar authorization to their representatives.

Second, that the instructions in question contemplate treatment for the United States loan of 1929 which is in no way less favorable to or indeed different from that contemplated in the case of the Greek Stabilization and Refugee Loan of 1928 and that it is accordingly assumed [Page 423] that the wishes of the United States Government are completely met and the despatch of such instructions approved by it.

Third, that since the cooperation of the Greek Government in supplying the necessary foreign exchange is essential to ensure the execution of the arrangement the instructions will remain without practical effect until the Greek Government does provide the foreign currencies needed.

Fourth, that the British Government is not aware whether the Greek Government will give to the United States loan of 1929 the same treatment which it has agreed to give to the stabilization and refugee loans of 1928.

The Foreign Office seems to have given full compliance to our request.

Full text by pouch 22nd.40

  1. Not printed.