800.51W89 France/946a

The Acting Secretary of State to the French Ambassador (De Laboulaye)

Excellency: I am requested by the Acting Secretary of the Treasury to transmit to you a statement of the amount due from your Government December 15, 1933, under the provisions of the debt agreement of April 29, 1926, and the moratorium agreement of June [Page 882] 10, 1932,8 including the amounts due on December 15, 1932, and June 15, 1933, which were not paid, and the interest accrued on the principal amount due and unpaid, and to request that payment of the amount due be made either at the Treasury in Washington or at the Federal Reserve Bank of New York.

While the debt agreement requires thirty days’ advance notice in case your Government desires to make payment in obligations of the United States issued since April 6, 1917, the Acting Secretary of the Treasury states that he will be glad to waive the requirement if your Government wishes to pay in that manner. The annuities due under the moratorium agreement may not be paid with obligations of the United States.

Following is the Treasury’s statement of the amount due:

Principal and Interest due From the Government of France, December 15, 1933

Amounts due prior to December 15, 1933, but not paid $60,000,000.00
Amounts due December 15, 1933:
Under debt funding agreement of April 29, 1926:
Semi-annual interest $19,154,046.82
Semi-annual installment due under moratorium agreement of June 10, 1932 $3,046,879.72
Interest accrued to December 15, 1933, on principal payments due and not paid $107,385.68
$22,308,312.22
Total amount due and payable December 15, 1933 $82,308,312.22

Accept [etc.]

William Phillips
  1. Annual Report of the Secretary of the Treasury, 1932, p. 301.