800.51W89 Finland/83
The Finnish Legation to the Department of State
Aide-Mémoire
Reference is made to the Aide-Mémoire of the Department of State, dated January 6, 1934, and to the table accompanying it, in which was indicated how the Treasury Department had calculated the new principal indebtedness of Finland to the United States by retroactive application as nearly as possible of the bases employed in the case of the indebtedness of Italy to the United States, and in which the new principal amount, as of December 15, 1933, thus calculated was stated to be $5,854,903.25.
The Aide-Mémoire referred to also mentioned three different plans for the payment of this principal amount, namely:
- 1)
- in equal annual payments of $195,163.44 during a period of thirty years, no interest being included in the payment;
- 2)
- in equal annual payments of $178,313.77 during forty years, 1% interest being included, and
- 3)
- in annual payments of $167,285.30 during fifty years, with 1½% interest being included.
It was further stated in the said Aide-Mémoire that if the Finnish Government indicates its preparedness to accept an agreement on any one of these three bases for future payments, the President has authorized the preparation of a form of agreement which he would submit to the Congress with a request for authority to execute it.
The Finnish Government has now informed its Minister at Washington that it is prepared to accept the plan referred to above under point 1, in other words the payment of the new calculated principal amount of $5,854,903.25, in thirty years without interest in equal annual instalments of $195,163.44.
The Finnish Government has given this information to its Minister with a statement that it considers that the acceptance of this plan should not prejudice its further adherence to the principle of the most favored nation to which it has previously referred in connection with the debt question.