Press Release Issued by the Department of State, May 5, 1934

With reference to the efforts of other governments to obtain preferential treatment for their holders of German bonds, the American Embassy has informed the German Government that the previously stated position of the United States Government opposing discrimination against American bondholders remains unchanged; and that careful consideration of the facts leads to the definite conclusions that Germany has power to prevent special arrangements with the different creditor countries and that it cannot escape the responsibility for any preferences it may sanction.