800.51W89 Italy/240
The Acting Secretary of State to the Italian Ambassador (Rosso)
Excellency: In reply to Your Excellency’s note of the seventh instant, and to your previous oral communications dealing with the question of the indebtedness of the Italian Government to the United States, I am directed by the President to say that due note has been taken of the intention of your Government to make a further payment on December 15 next, as on June 15 last, in acknowledgment of the debt pending a final settlement, in the sum of $1,000,000.
The President points out that it is not within his discretion to reduce or cancel the existing debt owed to the United States, nor is it within his power as President to alter the schedule of debt payments contained in the existing settlement. Such power rests with the Congress. The President states, however, that in view of your representations, of the payment, and of the acknowledgment of the debt, he has no personal hesitation in saying that he does not regard the Italian Government as in default.
Accept [etc.]