868.5151/102: Telegram
The Chargé in Greece (Morris) to the Secretary of State
[Received July 30—12:55 p.m.]
73. Legislative decree effective today fixes arbitrary conversion rate of 100 drachmas 75 lepta to 1 dollar on internal debts and bank deposits in foreign currency. Difference between this rate and current exchange rate is to be retained by Bank of Greece for benefit of Greek Government. Text of decree not yet available but Foreign Minister informed me verbally that foreign citizens and foreign firms are entirely exempt from application of this decree. Nevertheless difficulty may be expected for former Greeks whose American naturalization is not recognized by Greek Government. Suggest no publicity to this until I confirm exact text of decree.